Talent acquisition and recruitment: they sound as though they could be similar—even the same—functions. While they may be similar in nature, they are not the same. There are many key differences that make them decidedly distinct from one another.
In order to find out which one might benefit your business most, it’s necessary to understand more about each. Where they differ, and in which cases they are similar. In the question of talent acquisition vs recruitment, which will suit your company best will depend on a number of different things.
Read on to learn the key differences between the two, and which one your business needs to be focusing on for best results.
What Is Recruitment?
Recruitment refers to the entire hiring process. By this, we mean: searching for, selecting, interviewing, and hiring suitable employees for a given role. The recruitment process is often predefined, following a specific set of steps set out either by the organization or recruitment agency working for it.
The recruitment process and sector as a whole are essential to the smooth running of any business. In 2017, the worldwide recruitment market was valued at over $2.15 billion.
What Is Talent Acquisition?
As the name suggests, talent acquisition is also focused on finding the right employees for specific roles. It too encompasses the stages of recruitment, interviewing, hiring, and onboarding new employees. However, it tends to be more fluid and flexible in nature as a process than recruitment does.
Talent Acquisition vs Recruitment: Differences and Similarities
As we can see, recruitment and talent acquisition serve similar purposes. They both focus on finding employees that are a good fit for vacant positions a company may have. In this way, they can be considered alike but not, it is important to note, interchangeable.
So, what makes them different? Though their immediate function is the same, their ultimate outcome aims to be different.
Recruitment is about filling vacancies in a company as quickly and efficiently as possible, with not so much thought to the long-term goals of a business. On the other hand, talent acquisition has the underlying aim of finding the most suited and outstanding candidate for a job that will remain and thrive within their role and the company.
When Each Is Required
So, which one will serve your company best? It should be noted that there are recruitment agencies that do offer both services or even a hybrid of the two. But it’s still important to know which one you’re after.
If you’re a company that is looking to fill vacancies fast, then you may be more interested in recruitment. If your business is looking toward the future, and you’re willing to spend some time to find the perfect, lasting fit, then talent acquisition may be what you need.
Final Thoughts:
In the question of talent acquisition vs recruitment, knowing what each is and what you want is of the utmost importance. Hopefully, this article has helped you gain clarity in both areas. If you’ve found this guide useful, don’t forget to check out the rest of our content.
