On the evening of May 15th , a group of Atlanta Talent Acquisition (TA) leaders came together for a TALiNT Partners & WilsonHCG Talent Leaders Dinner to discuss how a holistic approach to talent attraction and retention could be beneficial to the entire organization. As we started to discuss how each TA leader viewed this, and what was on their mind around talent, several key themes came forward.
- Talent attraction in today’s market
- Artificial Intelligence (AI) and how it being used by TA teams to attract and retain talent
- Talent Acquisition vs. Procurement, and how each can partner to foster a holistic approach to talent
What does it take to attract talent in today’s market
Attracting top talent in today’s market requires a strategic shift from traditional methods to more “out of the box” methods, especially if you are in a more in-demand sector. Gone are the days of simply posting a job description and waiting for resumes to pour in. Competitive compensation and benefits are still important, but companies must also focus on creating a compelling employer brand.
Doing so involves highlighting company culture, opportunities for growth, and a commitment to work-life balance. Social media presence and employee testimonials can showcase a company’s unique offerings, while a seamless candidate experience, from application to interview, is crucial to avoid losing potential hires in a crowded market. Throughout our conversation on talent attraction, one thing that all agreed on was that by understanding what motivates today’s workforce and building a strong employer brand, companies can be competitive and work to attract top talent for their open roles.
Artificial Intelligence (AI) is rapidly transforming the talent ecosystem, bringing both exciting possibilities and challenges. On the one hand, AI can streamline recruitment processes by automating tasks like resume screening and scheduling interviews. AI algorithms can analyze vast amounts of data to identify qualified candidates based on skills, experience, and even cultural fit. This can significantly reduce time-to-hire and free up TA leaders and their teams to focus on more strategic aspects of talent attraction and retention.
However, AI in TA, there’s a mouth full of acronyms for ya, isn’t without its drawbacks. Concerns arise about potential bias within AI algorithms, as these systems can perpetuate biases present in their training data. Consequently, this may lead to overlooking qualified candidates from diverse backgrounds. Moreover, relying on AI for initial screening might eliminate the human touch from the early stages of the recruitment process, potentially resulting in a less engaging candidate experience. Therefore, to use AI effectively and ethically in talent acquisition, it is crucial to carefully select and monitor AI tools. Our group quickly agreed that striking a balance between AI automation and human judgment remains essential for a well-rounded and fair hiring process.
“With all of the advancements in generative AI and recruitment, the Sourcer role is starting to be replaced with these new tools” said Brian Fink, Talent Acquisition at McAfee, “and this shift in the Sourcer role could leave a gap in the career pathway for up-and-coming recruiters”.
Talent Acquisition vs. Procurement, and how to foster a holistic approach to talent
Finding the right talent for the right role(s) is crucial for business success, but Talent Acquisition (TA) and Procurement tackle these needs in very different ways.
Talent acquisition (TA) focuses on identifying and attracting skilled individuals to fill open positions. This process includes attracting candidates, assessing their fit, and ultimately hiring the best person for the job. Since it is multi-layered, it often requires efforts in employer branding and relationship building, in addition to essential skills like recruiting and interviewing.
Procurement, on the other hand, deals with acquiring the external goods and services a company needs to function. This process includes identifying needs, sourcing vendors, negotiating contracts, and managing purchasing activities. We measure success by factors such as cost savings and the quality of goods received, while standardizing the process itself. While there might be some overlap in managing external relationships, TA and Procurement are distinct functions that bring in the essential building blocks for a successful organization: the talented people and the resources they need to thrive.
The consensus of the dinner guests was that when TA and Procurement work together and bring their specialties to the table, as it pertains to talent, this type of a holistic approach to talent, looking across all departments of the organization is the winning mix for success.
As we were wrapping up and sharing parting thoughts, Akshay Loomba, Vice President and Head of Talent Acquisition for Unifi, shared that at the end of the day “labor is key – being able to attract the right talent, at the right time, and in the right locations is what all organizations are striving for”. I think we just hit the mic drop moment… dinner was a success!
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