TALENT ACQUISITION SUCCESS FORMULA

(3 mins read)

Talent Acquisition, beside performance management, coaching and talent management, is one of the critical HR processes. Based on many years of experience in recruiting candidates for different positions, like: general management, commercial, supporting functions, we were able to develop the Talent Acquisition Success Formula.

Requirements x Fit x Engagement = Outcomes

During a recruitment process, hiring managers need to explore and assess three critical areas for each candidate: 1) meeting job requirements, 2) fitting to company culture, leader or upcoming business challenges and 3) candidate’s engagement.

Let’s spend a bit more time on the three areas.

REQUIREMENTS – at the beginning of each recruitment process you need to prepare a list of competencies required to do the job. Once you have the list, as a next step, you need to create two sub-groups: “must-haves” and “nice to have”. This approach will help you later during the selection process if you need to compromise on some competencies.

There are many “FITS” which should be checked during the process.

First, is a “fit to the culture”. People are interested in working for companies wherein they can be themselves and where their work-life balanced is not a slogan on a wall but a reality. Reflect on the culture within your business and then be ready to describe it to candidates during the interviews. Listen carefully to what they say, what kinds of questions they might have and what it is that they’re looking for. Based on your observations, feelings, the candidates’ questions and feedback – make the right call.

Second, is a “fit to the team and the leader”. Most people are working in project teams. Today, the traditional business hierarchy is playing a lesser critical role than before.

Finally, “fit to upcoming challenges”. You need to understand business strategy and specific implications to organisation and people. You would need a different type of person for growth, innovation or restructuring.

ENGAGEMENT – During interviewing explore the candidate’s reasons of interest in joining your company? Why do they consider leaving their current employer? Why they are interested in this particular positions? All this information is important and will have a significant impact in the future. A fully motivated and passionate employee will be able to work effectively.

There is a guarantee that if you focus on these three critical elements during the recruitment process and your final decision will be based on information collected, the chances of future success will be maximised. If you do not invest time and effort during recruitment process, be prepared to spend a lot of time on performance management later.

Additionally below you can find RECRUITMENT TIPS which will help you to increase efficiency of your talent acquisition efforts:

• SEARCH FOR INTELLIGENCE – If you want succeed in business you need to recruit people who are smarter than you. Smart and competitive people will be able to develop creative and innovative ideas, design and execute business strategies.
• RECRUIT FOR POTENTIAL – Select people not for a job you recruit at the moment. Identify talents who will be able to grow in the future and who will be able to replace you.
• LOOK FOR LEADERSHIP – Surround yourself with smart and active “drivers” instead of passive “passengers”. Successful companies focus on increasing leadership not only on a GM level. Leadership should be visible on every level.
• DO NOT COMPROMISE ON KEY REQUIREMENTS – If you compromise on too many requirements or competencies during a recruitment process, you will be spending more time on performance management than on growing your business.

Recruitment is an investment. If you do it according to the Talent Acquisition Success Formula you will be able to increase the probability of selecting a candidate which will be prepared for key job requirements, will be fitting to the company’s culture or leadership and who will be fully motivated to drive own professional career in your company.