Cornerstones of HR Value Chain (Talent Acquisition) - Part II

Resource Planning – it is basically development of strategic plan for matching the size and skills of the workforce as per organizational needs. It assists organizations to recruit, retain and optimize the deployment of the workforce needed to meet the business objectives and to respond to changes in the external environment. The process involves carrying out a skills analysis of the existing workforce, carrying out manpower forecasting and taking action to ensure that supply meets demand. This may include the development of training and retraining strategies as well.

Staffing – to put it simply, it means selecting and training the resources for specified job functions and assigning them with the associated roles & responsibilities.

Channel Management – how you strike a balance between various ways to acquire talent while keeping cost effectiveness and employee stability in mind, can be termed as channel management. Some of the widely adopted ways in the industry are – employee referrals, job portals, resourcing partners, temping & contractual staffing, placement consultants, campus hiring, internal job postings, direct walk-ins, networking sites, etc.

Branding – it’s an important tool to attract right kind of resources for an organization’s manpower needs. Branding of an organization by the HR can be carried out in various forms-

• Conduct pre placement talks in relevant/targeted campuses and institutions
• Display posters propagating unique value propositions offered by the organization
• Subscribe to different job portals, networking sites, etc.
• Treat candidates with an impacting difference and consider them as prospective employees. This will result in effective message being floated through their word of mouth
• Keep the resourcing partners updated about the developments in an organization from hiring perspective as they are the face of your organization to candidates.

In Part III, i will share my thoughts on remaining components of Talent Acqusition i.e. Vendor Managment, Campus Relationship, Subcontract Management and Employee Onboarding!