Talent Acquisition Essay

IOSR Journal of Business and Management (IOSR-JBM) e-ISSN: 2278-487X, p-ISSN: 2319-7668. Volume 16, Issue 12.Ver.II (Dec. 2014), PP 39-43 www.iosrjournals.org www.iosrjournals.org 39 | Page

Talent Acquisition a Key Factor to Overcome New Age Challenges and Opportunities for Human Resource Management Mr. Shyamasundar Tripathy Management Faculty (PG Dept.) Institute of Professional Studies and Research, Cuttack, Odisha, India Abstract: One of the most surprising outcomes of the 2007-2009 recessions is that talent acquisition —particularly top talent — is actually harder, not easier, than before the downturn. Despite the fact many well-respected, out-of-work executives are clamoring to get back in the game, surveys show companies are failing

With so many talented executives sidelined during the recession, one would think it would be easy to post an ad and bring in a plethora of good candidates. Not so. In fact, the task of identifying the right talent for open positions has become more and more daunting. It’s a little like looking for the proverbial needle in the haystack. If you want to find that unique individual with the perfect experience, background and management style to fill your position, you better have strong market intelligence and a compelling story to tell candidates. Your recruiters must know everything about the position and come from a place of credibility. The ―gates‖ are more heavily guarded now than ever before as candidates have their guards up and are less motivated to think about moving. It takes twice as much effort to attract the right candidate. After recession the qualified candidates are more cynical and skeptical – and afraid. Therefore they are harder to attract and entice. For example, if a prime candidate is currently employed, it may take you twice as long to get his or her attention, let alone convince him or her to walk away from a secure gig to look at your opportunity. Most employed executives are keeping their heads down and their noses to the grindstone. Candidates believe venturing into the great unknown in a volatile market makes far less sense then staying in a familiar surprise-free job. It takes more creativity and flexibility to land the necessary talent. Now companies with open positions do not have the upper hand in the negotiating part of the executive search game. Wages are starting to spike up again as competitive companies begin looking for similar talent. What’s more, if prospects feel poorly treated or short-changed on compensation and benefits packages, and consequently walk away from the opportunity, the company’s reputation can take a hit in the marketplace. This will make