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Name: - Aman Bhattacharya Roll No: - A209
Submitted to: - Prof. Sameer Format: Report writing
Submission Date: - 30th April 2011
What is Talent Acquisition?
Talent Acquisition is the process of attracting, finding, sourcing and selecting onboarding of new or existing employees into appropriate positions within the organization. The process applies to all types of employment relationships, including full- and part-time employees, contractors, contingent staff, or outsourced worker relationships. Key goals of the process are to:
Attract talented individuals to work for the organization. Complete the full cycle from planning to deployment in a timely manner. Place the right people in the right positions.
Ensure a pool of readily available talent.
Why is it important?
• The Commonwealth must have the right people to fill the right needs at the right time. Success: Effective Acquisition sets the stage for the success of the agency and the employee. Cost: Multiple sources identify the cost of a bad hire as 1.5 to 3
times/salary. Opportunity Loss: The amount of time a need is left unfilled results in opportunities unrealized and costs incurred.
Plan – The planning phase of talent acquisition involves the development of staffing plans to meet the needs of the business strategy and operational plans. Such plans should cover the number of staff required by organizational or product groups, the timeframe in which staff are needed, the potential source of such staff and the appropriate employment relationship (e.g., full-time, contingent, contractor, etc.), their required skills and competencies, and the appropriate budget for the staffing plan. Once the staffing plan has been approved, HR personnel work in collaboration with line managers to execute the plan. A typical first step is the processing of personnel requisitions, which are used to obtain internal approval to hire, and to track progress against these requisitions. Requisitions may be for a single position or for multiple positions of one or more job titles. Requisitions are used to track progress in filling the identified positions, and are used as an authorization for staffing firms or sourcing channels to act on this requirement.
Source – The sourcing phase involves sourcing these job requisitions through the selected recruiting channels. Human resource organizations today can easily manage multiple channels for recruitment including an internal career Web site, Internet job boards, staffing agencies with their own Web sites, employee referral programs, university or association Web sites, and directly sent resumes either in electronic or hard copy form. The sourcing process has been transformed by Internet technologies that enable human resource organizations to use Web-based channels to quickly identify a large number of potential candidates. This has been a mixed blessing since it has increased the challenge of effectively screening potential candidates to a manageable number of qualified individuals. Initial pre-screening may be performed as part of the sourcing process. This involves screening of potential candidates to identify those that meet initial qualification criteria. Because of the high volume of responses that are often generated from electronic channels, it may be necessary to conduct an initial screening with automated techniques. Assess – The assessment phase includes a range of activities to assess the qualifications of the applicants that pass initial screening criteria, and to select the leading candidates for the position. Assessment activities include interviewing, internal testing programs, third-party assessment services, background checks, employment verification, and reference checks. The timing of assessment activities will depend on the company’s policy and the cost or time involved. Certain assessment testing may be justified prior to interviewing, whereas more extensive or costly assessment services may be performed with top candidates only. The selection process involves identifying selection criteria or requirements, creating interview preparation materials, scheduling and conducting interviews with appropriate interviewers, comparing interviewer assessments, and determining a final selection.
Hire – The hiring phase includes activities to coordinate and manage candidate communications and notifications, offer letter creation and approval, offer making, negotiations and offer acceptance. These activities may involve one or more top candidates, depending on the outcome of offer discussions with the top candidate. A decision to hire results in updates to the organization’s Human Resource Management System (HRMS).For this reason, integration between the talent acquisition solution and the HRMS is important. Onboard – The on-boarding phase traditionally includes all of the activities that need to occur during the first few days of employment. This includes completing the required government and company forms, enrolling in the employee in benefits programs, and providing company policies and other information as part of the “new hire package.” It also includes conducting an initial employee orientation to the company – i.e., its policies, practices, and departmental procedures – and introducing the employee to team members. Beyond these traditional on boarding activities, the new approach to on-boarding may include any number of activities from the first day of employment up until the employee is productive on the job. This sometimes involves several days of training in company administrative processes, multiple weeks of formal training in job duties, a testing or certification program to ensure the employee has learned basic job duties, and a mentoring program to assist the employee on first assignments. Organizations are extending the definition of on-boarding, because they realize that the faster new employees become productive on the job, the more money they save. All five phases of the talent acquisition life cycle should be focused on the core theme, to “attract” talent. In this manner, all five phases work together to achieve the organization’s talent acquisition goals.