AUTHOR NAME: CAROL KHANDAGALE
ROLL NO. 91
MMS 23-25
ARTICLE 1: FAMILY BUSINESS HAVE A TALENT ACQUISITION ADVANTAGE
The article discusses how family-owned businesses have an advantage in talent acquisition and retention due to the high levels of trust they engender. It notes that talent issues have become a top priority for companies due to the Great Resignation and labour shortage. Family businesses are inherently trusted more than other types of companies according to surveys. This trust comes from their strong values, sense of purpose, and commitment to employees and communities.
The article advises family businesses to leverage this trust advantage in attracting talent by:
Leading with transparency about their values, DEI efforts, ESG goals, etc.
Removing silos and encouraging collaboration to make employees feel heard.
Preparing for evolving trust practices as the company grows.
Embedding ESG efforts into operations to appeal to purpose-driven talent.
It concludes that prioritizing cultural values and integrity will help family businesses rise above challenges and succeed in acquiring the talent needed to thrive.
ARTICLE 2: TALENT ACQUISITION ROUNDTABLE
The article is a summary of a roundtable event featuring Utah’s talent acquisition and human resources leaders. The group discussed building a brand, approaches to recruiting in today’s market, and the software that helps them throughout the process. The participants shared their experiences and strategies in recruiting, including reaching out to individuals facing unemployment due to layoffs, investing in remote capabilities, and using new software and tools such as TalentWall and Gem. They also discussed strategies for building a hiring brand, such as promoting relationships, developing mastery, and offering autonomy to employees. The roundtable event featured Utah’s talent acquisition and human resources leaders discussing various aspects of recruiting. Here are some key points from the discussion:
Impact of Recent Layoffs:
Following were the observed impacts:
Companies like Merrick Bank reach out to individuals facing unemployment due to layoffs to help them transition smoothly into new roles.
Vivint focuses on communication and selective hiring to ensure employees feel secure.
USANA Health Sciences strategically evaluates open positions and maintains transparency with employees to alleviate concerns.
Weave emphasizes the importance of investing in people during market downturns for long-term success.
New Software and Tools for Recruiting:
Weave explored new tech stacks like TalentWall for integrated analytics and Gem for mining capabilities.
Merrick Bank invested in remote capabilities post-pandemic and used compensation data for competitive growth.
Strategies for Building Hiring Brand:
Squire and Company, PC revamped its culture post-Covid by involving employees in defining a clear-cut culture through surveys. Motivosity’s Dr. Bobby Low highlights key human motivators like meaning, relationships, mastery, achievement, and autonomy to attract and retain talent.
These insights reflect the diverse approaches and strategies employed by companies in Utah to navigate the evolving landscape of talent acquisition and recruitment.
ARTICLE 3: THE ROLE OF DATA ANALYTICS IN TALENT ACQUISITION AND RETENTION WITH SPECIAL REFERENCE TO SMES IN INDIA: A CONCEPTUAL STUDY
Talent acquisition and retention are critical for organizations to gain a competitive advantage. This is especially true for SMEs in India facing a challenging business environment. Data analytics offers advantages in managing talent by providing insights from HR data to identify patterns and predict outcomes. However, adoption is low in India, especially among SMEs. The study reviews literature on talent management strategies and the role of data analytics in talent acquisition and retention. It aims to identify advantages, challenges, and strategies for SMEs in India. Talent acquisition strategies include using social media, partnerships with institutes, and data-driven recruiting. Retention strategies involve workforce analytics, retention interviews, career clarity using data. Advantages of data analytics include better hiring decisions, identifying talent, enhancing networks, bridging skill gaps, role clarity for retention. Challenges faced by SMEs in using data analytics include reluctance to adopt, data overload, lack of expertise, inability to leverage insights, lack of training and infrastructure.
Recommendations for SMEs include shared data analytics through cloud computing, focusing analytics on specific organizational needs, and training managers to leverage insights.
ARTICLE 4: THE FUTURE OF STRATEGIC TALENT ACQUISITION
The article discusses the importance of talent acquisition (TA) as a strategic aspect of HR. Attracting and retaining experienced talent is one of the most critical challenges companies face today, and the availability of talent is having a major impact on growth. The workforce is evolving, moving toward a hybrid blended model where remote workers and contingent labour continue to increase. HR must understand the business and financial model and what drives success for the business, and how TA can help drive attainment of goals. The impact on HR is extensive, escalating the transition from a process and administrative support function to one of a strategic partner working alongside business leaders to deliver business value. The article provides examples of how data can be used to improve retention, quality of hire, identify talent location, and analyze the recruitment process. Talent acquisition leaders need to take the lead to conduct workforce planning, division-by-division and function-by-function with their internal clients, the line managers. The article provides case studies that show the importance of being strategic with TA.
ARTICLE 5: TALENT ACQUISITION AND PRIVITE EQUITY FIRMS
Private equity firms have historically not focused much on leadership development and management. PE investors recognize the need for strong executives to run their acquired companies. They examine the leadership of potential acquisition targets and often install new CEOs and CFOs after acquiring a company. Portfolio company leaders are given tough targets and rich incentives to align their interests with investors. But beyond this, PE firms have not done much in the area of leadership and management.
In summary, while private equity firms rely on strong executives and provide incentives to management, they have traditionally not paid much attention to the broader development of leadership capabilities. Private equity (PE) firms have historically not focused much on leadership development and management. But this has become a problem as deals get more complex. PE firms are now holding companies longer (7 years typically), so they need operating excellence and leadership continuity, not just financial engineering. Challenges include: time pressure for results, differing views on leadership between PE investors and portfolio company (portco) operators, lack of management infrastructure in portcos, and intense focus on short-term value creation.
Solutions involve:
PE firms hiring dedicated “human capital partners” to advise on talent issues.
PE firms creating leadership playbooks covering assessment, development, succession planning etc.
PE firms providing coaching, peer learning opportunities, and other talent development resources for portcos.
Portcos developing strong leadership strategies and metrics, upgrading HR capabilities, and integrating leadership goals into reporting.
Deal due diligence validating leadership needs against the deal thesis and identifying key talent to retain.
Ongoing portco focus on role clarity, capability building, succession planning and talent analytics.
In summary, PE firms and portcos need more systematic, long-term approaches to leadership development and management to drive operating excellence and value creation.
ARTICLE 6: TALENT ACQUISITION EVOLUTION ERA
Recruiting and talent acquisition have evolved significantly over the past few decades due to advances in technology. In the 1940s-80s, recruiting was a manual, paper-based process involving newspaper ads, paper applications, resumes, etc. The rise of the internet and online job boards like Monster in the 1990s allowed employers to expand their reach and get more applicants. Search engines like Indeed (2004) further improved the process by aggregating jobs across sites and introducing pay-per-click advertising. LinkedIn gave access to passive job seekers by making professional profiles and networks public. Recruiters could now identify talent not actively looking. Tools like employer review sites and AI/ML are making recruiting more data-driven, analytical and efficient. The role of recruiters has expanded from just filling openings to workforce planning, branding, analytics etc. Overall, technology has elevated recruiters from transactional to strategic roles and transformed hiring into a more transparent, analytical and candidate-centric process.
ARTICLE 7: EMPLOYER BRAND FOR TALENT ACQUISITION: AN EXPLORATION TOWARDS ITS MEASUREMENT
The document discusses employer branding, which involves building a distinctive and positive image of an organization as an employer. The goal is to attract top talent by differentiating the organization from competitors. Employer branding has become more important due to intense global competition, technological changes, and the need for skilled talent. Organizations with strong employer brands can more easily recruit qualified candidates. Employer branding involves developing a clear employee value proposition (EVP) based on research, conveying it to prospective employees, and delivering on the promised employment experience. The EVP should align with the organization' s culture and business strategy. Components of employer brand include things like caring for employee wellbeing, enabling employee development, providing career growth, being ethical and fair, having a strong product/service brand, and offering global exposure. The study explored employer branding factors for managerial talent in India, using surveys of management students and working managers. Eight factors emerged relating to what the organization offers employees and what it is as an employer. Practical implications are that HR can use employer branding to build a talent pipeline and engage employees. Theoretical implications relate to scale development to measure employer brand strength.
ARTICLE 8: A CONCEPTUAL FRAMEWORK FOR THE TALENT ACQUISITION PROCESS IN STARTUPS
Startups are important for economic growth and job creation, but face challenges in areas like finance, marketing, and human resources/talent management. Recruitment and selection of talent is crucial for startups’ survival and success. Existing recruitment research on startups has focused on “who recruits” and “who is recruited”, as well as factors that attract people to startups. However, there is limited research on the recruitment process used by entrepreneurs in startups. While existing recruitment theories and models explain processes in established organizations, startups may be different and require separate study. This paper reviews existing recruitment theories and models and proposes a conceptual framework for the talent acquisition process in startups. It aims to examine startup recruitment holistically, identifying any unique patterns and differences from established organizations.
The research questions if existing recruitment theories and models can explain the recruitment process in startups, or if new perspectives are needed.
In summary, this paper critiques current recruitment research and theories as potentially insufficient to explain the talent acquisition process in startups, and proposes developing a new conceptual framework tailored to startups. In startups, entrepreneurs are responsible for recruitment, initiating and influencing the process. This aligns with Mintzberg’s Managerial Role Theory applied to entrepreneurs. Entrepreneurs identify talent needs based on their business strategy, as per the Theory of Choice-making by Mintzberg. Talent needs act as causal factors for the recruitment process, explained by the Theory of Causation and Explanation. Entrepreneurs explore sources like family, friends, professionals to find candidates. This is the “event” in the theory of causation. Interviews help entrepreneurs select the most suitable candidate to recruit. Outcomes include acquiring talent to perform functions, establishing/enhancing functions, and startup growth and stability. This matches the outcomes dimension of the Theory of Causation. If talent needs are met, the process may stop. If more talent is needed, the process restarts. Over time, the recruitment process becomes more formalized and structured, with startups establishing formal HR departments.
In summary, the entrepreneur-driven startup recruitment process can be explained using established theories like Mintzberg’s Managerial Role Theory and the Theory of Causation and Explanation. The process evolves from informal to formal as the startup grows.
The main causes for initial talent acquisition were needs to start operations, increase operations, or acquire complementary skills. The outcomes of first recruitment, including quality of first hires, impacted not just organizational performance but also laid the foundation for subsequent hiring. Positive organizational performance helped formalize the recruitment process in some cases, while deviations in performance led to corrections in the recruitment process.
In summary, the causes and outcomes of initial startup recruiting had significant impacts on subsequent processes and organizational performance. High performance led some startups to formalize recruiting, while underperformance caused others to correct their process. The quality of early hires was critical for both startup operations and future talent acquisition.
ARTICLE 9: HAS AI KILLED THE RECRUITING STAR ?
The current state of talent acquisition (TA) is characterized by significant shifts driven by technology advancements, particularly artificial intelligence (AI). The role of recruiters is evolving into that of talent advisors, focusing more on strategic responsibilities rather than tactical tasks. This evolution correlates with the development of AI and machine learning, which have the potential to revolutionize TA by enabling recruiters to focus on relationship building and strategic initiatives. Talent advisors go beyond traditional recruiting functions, taking on a consultative role and advising hiring managers on talent management activities to drive business results. AI is seen as a tool to augment recruiters’ capabilities rather than replace them entirely, emphasizing the importance of maintaining the human touch in recruitment processes. To facilitate this transformation, organizations need to invest in training and development for their TA teams, incorporating AI and automation throughout the recruiting process. Metrics used to measure TA effectiveness should prioritize strategic value over transactional reporting. Companies are increasingly recognizing the importance of talent advisors and are seeking individuals with a blend of business acumen, data analysis, and relationship-building skills to join their TA teams. Overall, the integration of AI into TA requires a holistic and integrated approach, where recruiters evolve into talent advisors who can effectively leverage technology to drive business outcomes while maintaining a human-centered approach in candidate interactions.
ARTICLE 10: STRATEGIC TALENT ACQUISITION
The competition for talent is intensifying as economic growth empowers skilled employees. Candidates have more options and are more demanding of recruiters. Millennial candidates expect a personalized, on-demand experience. Their hiring experiences shape their brand perceptions. Recruiters can learn from marketing’s approach of capturing leads early and nurturing them through the sales funnel.
HR needs to take a strategic, proactive approach to hiring based on corporate strategy, not just reactive localized needs. HR should segment talent markets and communicate priority prospects to hiring managers to avoid delays. The candidate experience matters throughout the hiring lifecycle, even if they don’t get the job, to maintain the relationship. HR needs to centralize and invest in talent acquisition using analytics to link it to corporate strategy. This leads to faster, better hires. Technology like engagement systems and applicant tracking can help provide a consistent, high-touch candidate experience. Case studies show centralized recruiting centres, processes, and open talent markets are improving hiring and retention. In summary, a strategic, customer-focused approach to talent acquisition is key for HR to deliver the skills needed for business success.
FINAL SUMMARY:
Here is a summary of the key points across the 10 articles:
Article 1: Family-owned businesses have a trust advantage for talent acquisition based on shared values. They should leverage transparency and collaboration to attract purpose-driven talent.
Article 2: The roundtable event with Utah’s talent acquisition and HR leaders highlighted strategies post-layoffs, new recruiting tools like TalentWall and Gem, and brand-building tactics such as involving employees in defining culture and focusing on human motivators to attract talent.
Article 3: Data analytics provides insights to improve talent acquisition and retention. But adoption by Indian SMEs is low due to lack of expertise and infrastructure.
Article 4: Talent acquisition must become a strategic HR function aligned to business goals and workforce planning. Data and analytics enable better hiring decisions and outcomes.
Article 5: While PE firms rely on strong executives, they historically overlooked broader leadership development. This is changing as deals get more complex.
Article 6: Technology has transformed recruiting from a transactional to a strategic function involving planning, analytics, branding etc.
Article 7: Employer branding conveys an organization’s employee value proposition to build its image and attract talent. Branding factors relate to what the organization offers employees.
Article 8: The startup recruitment process can be explained by theories like Mintzberg’s and Causation Theory. It evolves from informal to formal.
Article 9: The evolution of talent acquisition towards strategic advisory roles, propelled by advancements in AI, emphasizes the importance of maintaining a human touch while leveraging technology to drive business outcomes.
Article 10: Strategic, customer-focused talent acquisition is key for HR to deliver the skills needed for business success.
In summary, talent acquisition is becoming more strategic, data-driven and technology-enabled, but also needs to focus on branding, leadership and ethics.
REFERENCES:
- FLACK, J.; KLEIN, R. Family Businesses Have a Talent-Acquisition Advantage: Here’s how to leverage it. Harvard Business Review Digital Articles, [s. l.], p. 1–5, 2022. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=e44ed29f-53c6-3966-8376-c8f1aeaf163d. Acesso em: 25 fev. 2024.
- BICKNELL, L. Talent Acquisition Roundtable. Utah Business, [s. l.], p. 52–60, 2021. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=0010f173-8117-3b14-b849-e3d650283217. Acesso em: 25 fev. 2024.
- DEEBA, F. The Role of Data Analytics in Talent Acquisition and Retention with Special Reference to SMEs in India: A Conceptual Study. IUP Journal of Knowledge Management, [s. l.], v. 18, n. 1, p. 7–23, 2020. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=e6a4149a-14d2-3226-8537-7f1d810d4be0. Acesso em: 25 fev. 2024.
- NORTON, G. The Future of Strategic Talent Acquisition. Workforce Solutions Review, [s. l.], v. 9, n. 4, p. 27–29, 2018. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=affd4a96-1f4f-32a2-b259-621b4c210760. Acesso em: 25 fev. 2024.
- BILILIES, T. Private Equity Needs a New Talent Strategy. Harvard Business Review, [s. l.], v. 101, n. 6, p. 132–140, 2023. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=e1c4a18c-c60e-3b4b-92d2-d460fe7c0546. Acesso em: 25 fev. 2024.
- MAURER, R. Talent Acquisition. HR Magazine, [s. l.], v. 68, n. 2, p. 50–53, 2023. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=265f422a-db3e-3daa-94ef-4f1f2832a277. Acesso em: 25 fev. 2024.
- SRIVASTAVA, P.; BHATNAGAR, J. Employer Brand for Talent Acquisition: An Exploration Towards Its Measurement. Vision (09722629), [s. l.], v. 14, n. 1/2, p. 25–34, 2010. DOI 10.1177/097226291001400103. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=d33a5a97-11e5-3a6b-8caf-26ff7170c8dd. Acesso em: 25 fev. 2024.
- BARSHIKAR, L.; MAJUMDAR, S. A Conceptual Framework for the Talent Acquisition Process in Startups. South Asian Journal of Management, [s. l.], v. 29, n. 3, p. 58–91, 2022. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=1df4cf06-1d94-38f8-86a7-85ee7449a59c. Acesso em: 25 fev. 2024.
- BERNSTEIN, D. Has AI Killed the Recruiting Star? Or will it transform talent acquisition into something else entirely? Workforce Solutions Review, [s. l.], v. 10, n. 2, p. 22–24, 2019. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=3796bc4b-a3c7-33ac-a9ee-2acb73ab8c73. Acesso em: 25 fev. 2024.
- GRETCZKO, M.; CLEARY, W. The Candidate as Customer: A Proactive Approach to Talent Acquisition. Workforce Solutions Review, [s. l.], v. 7, n. 3, p. 8–10, 2016. Disponível em: https://research.ebsco.com/linkprocessor/plink?id=6847155d-5d13-39b8-a533-a80365cd5cff. Acesso em: 25 fev. 2024.