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Sunday, December 12, 2010

Talent Identification, Assessment and Acquisition

For the success of a business enterprise, the first and foremost per-requisite is the availability of right competency with the organization. So it goes without saying that attracting the "optimal" talent is a serious business for businesses.

"Optimal" talent means right talent. Both over- and under- competent talent has adverse impact on the organization. Hiring over-competent talent results in higher attrition and on the other hand, hiring under-competent talent results in poor performance.

Talent attraction constitutes of three essential aspects:

Talent Identification

This means being on constant lookout for top talent, keeping an internal database of resumes, having tie-ups with recruitment consultants and executive search firms, encouraging existing employees to suggest referral candidates, etc. 

Talent Assessment

This means screening initial pool of candidates to separate the wheat from the chaff, interviewing potential hires to select the "optimal" talent, evaluating and finalizing the would be hire

Talent Acquisition

This means making an attractive offer to the selected talent, engaging the would be hire from the time of offer till the time of joining, taking care of the joining formalities, induction and on-boarding

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