There is a misconception that the two terms “Recruitment” and “Talent Acquisition” are the same thing and can be used as alternative terms. These are assumed to have the same meaning. But the fact is there is a fundamental difference between the two. The basic difference is short term and long term; either you are aiming for a quick replacement for the open position or long-term talent utilization planning. The recruiters and HR managers figure out the difference between the two. In defining the big picture for your company, talent acquisition comes first.
Both of the terms involve the same process steps sourcing, screening, interviewing and hiring. The difference is of approach. Talent acquisition has got more proactive approach to target beyond just hiring. Talent acquisition is the process of attracting potential candidates who can evolve at the company. Its more strategic based process concentrated on the company’s ambition and future-oriented approach.
Recruitment is short-term process usually when a firm is in need of a quick replacement of a resource left or whenever there is a job opening to be filled instantly. In recruitment, the vacant position has to be filled in either way within the limited predefined timeframe because there is an urge need for the required resource.
In talent acquisition firms can afford to take as long as they want to find that one perfect candidate. You are not bound by the timeframe. All you need is a perfect fit for the company. At times if you are not satisfied with the applicant’s skills, you have enough time to re-advertise the job for the new talented applicants until you find that perfect candidate whom you can count on.
In recruitment, you look for specific skills for a specific position. This is a small scope search. You don’t consider candidates beyond the requirements of the vacant position. No matter if the candidate has remarkable skills in an irrelevant field which you are not searching for. The search is focused on specific skill.
On the contrary, in talent acquisition, you don’t have to wait for the vacant position. At times firms accidentally find a gem which they can’t afford to lose. Sometimes firms do create a vacancy if they find some great talent which can add great value to their business goal.
Recruitment is merely about the quick fix for the replacement or filling the vacant position. The strategy is to fill the position as soon as possible. The firm can’t count on the long-term relationship building while hiring for vacant positions.
When you aim for talent acquisition, you think out of the box. You are anticipating the future utilization of the hired resource, the relationship building, the branding, the business goals and above all how the hire will contribute to all these values. It’s actually plotting a long-term strategy. The long-term plan in talent acquisition is not only filling the space but adding value to the company business goals and mission.