How to Build a Successful Talent Acquisition Strategy

Published March 11, 2024

By Matthew Fino

Sponsored content

By IBM

The success of any organization relies on its ability to attract, retain and develop top talent. Talent acquisition refers to the ongoing strategy and process an organization and its HR department uses to source, attract, evaluate, hire and retain the highly-qualified new employees it needs to grow. A well-crafted talent acquisition strategy has become a critical component for organizations seeking to secure a competitive edge. Beyond simply filling open roles, a comprehensive talent acquisition strategy encompasses a holistic approach to talent management, from identifying organizational needs to nurturing relationships with potential candidates.

By recognizing the importance of a strategic and proactive talent acquisition approach, companies can position themselves as employers of choice. This approach can foster a culture that not only attracts the right candidates but also cultivates long-term success and sustainability.  

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What is a talent acquisition strategy?

A talent acquisition strategy is a comprehensive plan an organization develops to optimize its talent acquisition—the identification, attraction and retention of the right talent. It includes a series of interconnected processes and initiatives designed to align the organization’s talent needs with its business objectives. The strategy outlines the methods and processes for sourcing, screening and selecting candidates, while also focusing on employee retention and long-term development.

Talent acquisition strategy involves the use of various recruitment methods, technologies and practices. It enables HR professionals and the organization to build a strong employer brand, create a positive candidate experience and foster an effective, diverse and inclusive workforce. An effective talent acquisition strategy continually adapts to changes in industry trends and candidate preferences. It ensures that the organization’s talent acquisition efforts remain competitive and resilient.

Steps to build a successful talent acquisition strategy

An effective talent acquisition strategy includes elements designed to effectively attract, asses, identify and retain the best talent for the organization’s current and future hiring needs. The creation of a successful strategy should include these steps:

Develop a strong employer brand

A compelling employer brand can set an organization apart, making it an attractive destination for skilled professionals. Many steps can be taken to build and enhance an employer brand, including:

• Define the employer value proposition (EVP): Clearly articulate what sets the company apart as an employer—what it stands for and the kind of working environment it offers. Highlight the unique benefits, opportunities, and culture.
• Create a compelling careers page: Build an organized and informative careers page on the company website. Describe the application process. Use engaging content, images and videos to showcase the working environment.
• Collect and share employee success stories: Let employees describe their experiences working at the company, including career growth, work-life balance and company culture.
• Use social media: Promote the employer brand on social media by sharing company news, employee stories and industry insights. Engage with potential candidates and encourage a sense of community.
• Offer competitive compensation and benefits: Meet or exceed industry standards for pay and benefits packages and clearly communicate these offerings to potential candidates.
• Foster employee engagement and growth: Create a supportive work environment that encourages employee engagement, professional development and career advancement.
• Initiate employee advocacy: Encourage employees to become brand advocates. Provide them with tools to share positive experiences on their personal social media accounts and professional networks.
• Promote diversity and inclusion: Widen the pool of top candidates by highlighting initiatives that demonstrate the organization’s commitment to creating a diverse and inclusive workplace.
• Provide a positive candidate experience: Streamline the recruitment process to ensure a seamless and positive experience for all candidates. Communicate with transparency.
• Highlight work-life balance: Showcase any flexible work arrangements, wellness programs, or other initiatives that prioritize the health and happiness of employees.
• Attend industry events: Participate in conferences, webinars, speaking engagements, award competitions and other events to establish a presence and engage with potential candidates.
• Monitor online reviews: Respond to reviews, whether positive or negative, to demonstrate a commitment to improving and addressing concerns.
• Measure impact: Use analytics and metrics to assess the effectiveness of branding efforts. Monitor website traffic, application rates and employee referrals to gauge their success.
• Seek feedback and continuously improve: A positive candidate experience can contribute to a favorable employer brand. Gather feedback from candidates who go through the hiring process.

Assess current and future needs

Conduct a thorough assessment of current and future talent the organization requires to achieve its business objectives.

• Conduct an organizational analysis: Identify key areas where new talent is needed to support the company’s current and projected business goals and growth plans.
• Determine short- and long-term talent needs: Distinguish between immediate hiring needs and future requirements. Prioritize roles that require immediate attention.
• Develop candidate profiles: Create personas for ideal candidates and write detailed job descriptions for each role based on the skills and qualifications necessary for success.
• Evaluate internal talent: Encourage employee retention by Identifying suitable internal candidates for open positions and evaluate existing employees to determine if they can be upskilled or reassigned to fulfill upcoming roles.