Which talent acquisition strategy is right for your business?
5th Sep 2023
Developing the right Talent Acquisition Strategy in an unpredictable market is challenging.
Organisations need cost-effective, flexible and scalable solutions – progressive talent leaders are leveraging the blended recruitment model. This strategic approach utilises a blend of Internal / Direct hiring, Contingency & Project resources, Embedded expertise, and Exec Search to deliver the best results.
Finding the right mix between Fixed (60-70%) and Variable (30-40%) costs is the key to a strategy that can smoothly adjust to the changing needs of a business.
Let’s take a look at the different TA strategies and how you can combine internal expertise with external agility:
1. Internal / In-House: A dedicated employee or a team handles all aspects of recruitment internally, fulfilling the company's hiring requirements.
2. Contingency Hiring: involves partnering with external agencies who are compensated solely upon successful candidate placement. This model suits businesses seeking quick hires for specific positions without committing to fixed fees. Leverage contingency recruitment when agility and speed are required is crucial. It complements broader talent strategies, making it an effective tool for specialised roles requiring quick access to talent.
3. Embedded Talent Solution: Involves the integration of external recruitment expertise within your organisation's talent function. It can operate as an independent entity or seamlessly blend as an extension of your in-house recruitment team. This collaborative approach leverages internal and external expertise.
4. Recruitment Process Outsourcing (RPO): Involves using external experts to manage your whole recruitment lifecycle. RPO is a strategic solution that can provide cost saving, but it's essential to evaluate factors like control, cultural alignment, communication and dependency align to long term business goals.
Delivery Choices at a Glance:
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Quality
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Speed
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Flexibility
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Cost
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Agency: (Contingent Project, Search)
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Specialist
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Quick to deploy
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Good
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Variable / High
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|
Internal Talent team
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Good
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Depends on Resources
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Fixed/Low
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Fixed / Low
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Embedded
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Good
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Quick to deploy
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Good
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Fixed / Mid
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|
RPO
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Average
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Long
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Fixed
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Variable / Low
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Navigating the complexities of talent acquisition in an ever-changing market is no easy task. In a market where flexibility is key, finding the right strategy is crucial to securing the best talent for your business.
Still unsure? Take a deeper look at the various Delivery choices that we offer.
To learn more about how Pivotal can build flexible talent solutions that compliments your existing strategy, feel free to contact David Terry on 07554010308.