The ultimate talent acquisition strategy: Our 9-step process

What is a talent acquisition strategy?

A talent acquisition strategy is a structured plan companies use to find, attract, recruit, and retain the most qualified candidates for open positions.

Done right, a talent acquisition strategy can be used during the recruiting process to help you attract top talent who have the right skills, attitude, and experience to achieve your business goals.

What purpose does a talent acquisition strategy serve?

Having a solid talent acquisition strategy is about ensuring your hiring plans match your overall business objectives. This helps talent teams predict talent requirements more effectively and pinpoint the kind of employees necessary to accomplish these goals, whether it's for current openings or future hiring.

But here's the interesting part: you don't have to wait until you desperately need someone on the team. About half of all workers out there aren't thrilled with their current jobs, so they're often on the lookout for something better.⁴

When you start the recruitment process early, you're building a bridge to potential future hires. You make that connection, and they're more likely to jump on board with your company when the time's right.

The strategy also helps you determine where and how to allocate resources, such as time, budget, and manpower, to achieve the best results. Plus, you can plan ahead, identify and nurture internal talent to fill critical roles when vacancies arise, and improve hiring speed to prevent any gaps or disruptions.

What role does a talent acquisition strategy play in the employee experience?

Your talent acquisition strategy influences an employee’s overall perception of your brand across the hiring journey from the moment they apply to the time they leave. It:

• creates a positive first impression for applicants during the recruiting process
• assesses candidates’ technical and soft skills during the talent search to ensure they align with your culture and values
• selects top talent with the right skills and experience to do well in their roles
• uses an effective onboarding process to ensure successful candidates can achieve in their role
• ensures employees have opportunities to advance their careers in your company
• builds a company culture that values and promotes diversity and inclusion.

Why is a talent acquisition strategy important?

1. Gives you a competitive edge

High-quality hires are often a common denominator among leading companies in any industry. These talents potentially produce more and are likely to generate more revenue than talent who aren’t a good fit for the company.

When you have a plan that clearly outlines your goals and the roles you need to fill to achieve them, your talent acquisition department can easily identify and attract top-tier candidates who possess the skills and experience for these roles.

2. Reduces Time-to-Fill Positions

A well-designed strategy helps you fill vacant positions more quickly and effectively.

More than half of candidates become frustrated when the recruitment process takes longer than 2-3 weeks and won’t wait more than a week after their final interview for a job offer before moving on.⁵ Reducing the time it takes to hire helps you provide a high-quality candidate experience and ensures you don’t miss out on top talent or experience workflow challenges.

3. Prepares your team for sudden changes

A talent acquisition strategy shifts the hiring process from reactive to proactive and can prevent recruiting bottlenecks..

It ensures human resources is well-prepared to hire top talent when needed rather than scrambling when there’s a vacancy. So, instead of waiting for employees to quit, you proactively analyze your retention and turnover rate data to get a clear picture of the company’s staff strength and the most in-demand (and hardest-to-find) skills.

4. Saves your company money

Hiring candidates who are a good fit for your company reduces your turnover rates and saves your company money.

Gallup found having a best friend at work has a significant impact on an employee’s likelihood to recommend their workplace, intent to leave, and overall satisfaction.⁶

If a talented employee loses a work friend or someone on the team they hold dear, it typically impacts their engagement levels and overall productivity. This, in turn, costs your company money because you have to advertise, recruit, and train new employees (or overwhelm existing top talent with more work).

5. Retain your top talent

63.3% of US companies say retaining talented employees is actually harder than hiring them.⁷ This means even with hiring slowing,⁸ businesses find it harder to keep the employees they already have rather than find new ones.

A well-defined talent acquisition strategy sources potential employees who have the right skills and align with your company's culture and values. When top performers feel they belong and share the company's vision, they are more likely to stay.

6. Makes succession planning easier

Talent acquisition considers long-term planning for talent needs, including identifying potential successors for key positions. Knowing that there's a clear path for career advancement can encourage top talent to remain with your organization.⁹

Talent acquisition vs. recruitment: what's the difference?

Talent acquisition is a strategic, end-to-end approach that builds a solid talent pipeline and ensures a cultural fit with your organization. Its primary goal is to find candidates who have the required skills and motivations that align with the company's culture.

On the other hand, recruitment is a more immediate, task-oriented process that helps you fill vacant roles immediately. Its primary goal is to match candidates' skills and qualifications with the job description.

Diversity and inclusion in your talent acquisition strategy

Integrating diversity and inclusion into your talent acquisition strategy means that you're actively working to recruit and hire people from diverse backgrounds and ensure fair and equitable treatment for all employees.

This approach creates a workforce that reflects the broader community, promotes innovation, and contributes to the growth and success of your organization. After all, diverse teams make better decisions 87% of the time.¹⁰

For example, Canva wanted to create a more diverse and inclusive work culture, acquire top talent, and grow high-performing teams.

To set each employee up for success from the get-go, they invited each new hire to create an F4S Canva account and take the 40-question assessment as a part of their onboarding process. This helps the new hires understand themselves and for their mentor to connect and communicate with them better.

Canva also uses F4S as new teams are formed for one-on-one preparation, growth, and development conversations, internal coaching programs, and Canva University.  As a result, Canva was named  #1 Best Workplace for Innovators by Fast Company in 2023,¹¹ and it attracts more than 300,000 job applications per year.¹²

To improve your candidate experience efforts and incorporate D&I into your talent acquisition strategy:

• ensure business leaders are committed to D&I initiatives. Their support and advocacy set the tone for the organization.
• provide training for hiring managers and recruiters on unconscious bias and inclusive hiring practices to reduce bias during candidate searches, job interviews and the hiring process.
• use a variety of sourcing channels to attract candidates from different backgrounds.
• craft compelling job descriptions that use inclusive language and emphasize the company's commitment to diversity and inclusion
• include diverse interview panelists during job interviews to provide different perspectives and reduce bias during selection procedures and candidate evaluations.
• implement structured job interviews with standardized questions to ensure consistency and fairness in the evaluation process.
• ensure all candidates have a positive experience throughout the hiring journey.
• develop mentoring and coaching programs to help diverse hires integrate successfully into the organization.
• collaborate with organizations and educational institutions that promote diversity in your industry to access a wider talent pool.
• examine internal policies and practices to ensure they are inclusive and promote diversity, including compensation and promotion practices.
• create channels for candidates and employees to provide feedback on diversity and inclusion efforts and report any concerns.

What is the talent acquisition process: our 9 steps

Every company has its own unique approach to talent acquisition, but in general, a successful process often involves these 9 hiring phases:

Step 1: Planning the process

Effective planning helps you understand the skills and talent your company needs to achieve its goals. Without proper planning, you may end up hiring people who don't contribute effectively to bring you closer to hitting those goals.

To create an effective plan that sets your company up for success from the get-go, find out what your business needs.

Set up meetings with key stakeholders, such as your senior leadership team, department heads, and hiring managers, as they often have a clearer line of sight of your company’s goals, the needs of individual departments, and hiring trends.

During these meetings, review your organization's mission, vision, and goals. Then divide them into short-term and long-term goals, and determine your current workforce needs. That means asking questions about staffing levels, skills gaps, and upcoming projects or initiatives requiring additional personnel.

For example, say you are a tech startup whose goal is to make more people aware of your product and its benefits. You’ll need to hire key roles such as strategists and marketing specialists who know how to create and execute a marketing strategy that generates leads and customers for your business.

You should also consider which work arrangements are best for the position and company (remote, onsite, or hybrid) and how they impact your goals. Different positions will require different work arrangements, depending on company culture and goals.

Step 2: Sourcing talent and lead generation

Sourcing high-quality hires involves creating and maintaining a healthy talent pipeline. Even if you don't have an immediate opening, a pipeline ensures a pre-qualified candidate pool is ready when vacancies in key roles become available, reducing time-to-fill.

Not all top talent actively search for job opportunities. As a result, sourcing lets you identify and engage passive candidates who may not be actively applying but could be a good fit for the role. However, generating the right leads can be challenging.

Here are 3 suggestions to make the process easier:

1. Cast a wide net to increase your chances of attracting top talent

Use multiple channels to source candidates and during recruitment marketing:

• Job boards like Indeed, Glassdoor, and Otta are useful if you're looking to fill a wide range of positions across various industries.
• Social media platforms, such as LinkedIn, to connect with potential candidates and for general recruitment
• Professional networking sites to find candidates with specialized skills. For example, Behance is a useful channel to explore when hiring a graphic designer.
• Industry-specific forums and discussion boards for specific professions. For example, if you're in the healthcare industry and need to hire a registered nurse, you have to look for candidates on a nursing-specific forum
• Specialized job boards or partnerships with academic programs to recruit for a more specialized role or set of skills

2. Build a strong employer brand

A strong employer brand helps you stand out in a competitive job market, making candidates eager to work for your company. This encourages employees to become brand ambassadors who are more likely to recommend you to those in their networks.

To do this, enable employees to advocate for your employer brand. Encourage them to share their experiences working for your company on professional networks like LinkedIn or your company website.

Also, enhance your company's career page on your website.

Share detailed information about your organizational culture, values, and available career opportunities. For example, you can use videos, blog posts, and employee profiles to bring your brand to life. If your company has received awards or recognitions for being a great place to work, display these achievements on your site, as it makes you more credible to top talent.

You should also ensure your employer branding is consistent across all touchpoints where candidates encounter your organization, from your website and social media profiles to job postings and recruitment materials.

3. Encourage and incentivize employee referrals

Actively promote a culture where employees are encouraged to refer candidates they know. 88% of talent teams rated employee referrals above all other sources for the highest-quality of candidates.¹³ That’s because employees are more likely to refer individuals who are a fit for the job and company culture.

But you should consider incentivizing them to encourage them to do this. This could include anything from referral bonuses, recognition, or other rewards.

For example, you can offer a referral bonus of $1,000 to any employee who refers a candidate who is subsequently hired and successfully completes the probation period. This encourages employees to actively refer potential candidates from their networks.

You should also encourage employees to refer candidates from diverse backgrounds to promote diversity and inclusion within your organization.

Step 3: Attracting talent

Attracting talent involves crafting a compelling value proposition and job descriptions that pique the interest of potential candidates.

In today's competitive job market, getting the best candidates is not just about having job openings. You have to give them a solid reason to choose your brand over others. When these candidates are genuinely interested in joining your organization, it reduces the time and effort spent on unqualified applicants. Plus, even if they aren't immediately hired, their positive impression of your brand can lead to future referrals and a robust prospect pool.

To attract the right people have talent teams:

• Write clear and engaging job descriptions that highlight the responsibilities, opportunities for growth, and skills required for success in the role.
• Clearly define and communicate your employer brand, including your company's culture, values, and mission. This helps candidates understand what makes your organization a great place to work.
• Clearly communicate the benefits of working at your organization, including salaries, work arrangements, professional development opportunities, and more.
• Share employee experiences on your website and social networks.
• Use social media to share updates about your organization, showcase employee achievements, and participate in relevant conversations.
• Share relevant and informative content that positions your organization as a thought leader in your industry.
• When reaching out to potential candidates and during interview scheduling, personalize your emails to prospects to address their specific skills and experiences
• Encourage candidates to reach out with questions or inquiries and send updates to prospects with helpful timely information
• Include a clear call to action that instills urgency and encourages candidates to apply or reach out for more information.

Step 4: Screening applicants to find the right fit

Screening ensures that candidates possess the necessary hard and soft skills, experience, and qualifications required for the job. This reduces the likelihood of talent specialists hiring candidates who are not a good fit for the role.

It also contributes to a positive candidate experience. Clear communication and respectful interactions leave candidates with a good impression of your organization during the recruiting cycle.

Four best practices to keep in mind while screening applicants are:

Understand potential employee’s motivation

Think of the ripple effects one wrong hire has in your organization: it wastes precious time, costs, and energy that goes into training and onboarding, destroys your team morale, and potentially drives away top talent.

The U.S. Department of Labor estimates the average cost of a bad hiring decision can equal 30% of the individual’s first-year potential earnings.¹⁴ The problem is the talent acquisition process is riddled with bias—you’re human, after all.

Thankfully, with the help of F4S, you can remove erroneous assumptions by relying on evidence-based insights into each candidate’s motivations and predict how their work styles will align with or complement your team and its culture and goals.

Based on 20+ years of motivational research, F4S delivers quantifiable insights to:

• reduce human error in the hiring process
• automatically rank top candidates in the candidate pool based on how well their assessment results match the predefined ideal motivations for the role
• predict culture fit while highlighting the advantages of hiring someone different to boost diversity and performance

It also helps you identify the key attitude and motivational traits your ideal candidate should have, so you can use the words in your job description and selection criteria.

As part of the application process and job description, talent teams can share this link with candidates and have them take their F4S assessment. This consists of 40 questions and takes 15-30 minutes to complete. The evidence-based assessment showcases their motivations across 48 different categories and reveals their work preferences.

Once you confirm each candidate assessment is complete, set them up in a group and start screening. View and compare the candidates by “Motivational Groups” as shown here:

Use the Ranking Report to sort candidates based on how closely their results align with those of the top performers in their industry.

If you’re managing a large number of candidates, set up an F4S team. This way, you can take advantage of the features of being an F4S Super User, like sending out a dedicated assessment link, automatically approving connection requests, and accessing candidate data straight away without needing to connect (and follow them up) with them on the platform.

Clearly define your screening criteria

For example, if you're hiring a software developer, use defined criteria like "must have a minimum of 3 years of experience" to make it easier for talent acquisition professionals to filter candidate profiles.

You should also clearly communicate the screening process to candidates, including the criteria and steps involved. And provide training to hiring managers and interviewers involved in the screening process to ensure consistency and avoid unconscious bias during corporate hiring initiatives.

Focus on the most critical job requirements when screening

Identify "must-have" qualifications versus "nice-to-have" qualifications to ensure your talent team doesn’t overlook essential skills during candidate searches.

Use screening tools

For example, use an Applicant Tracking System (ATS) to smooth pipeline management and automatically filter out candidates who do not meet the basic qualifications. JazzHR, Greenhouse, Lever, and BambooHR are examples of popular AI talent acquisition software.

Talent teams can pair your HR tech stack with F4S to find and hire the right talent from the candidate pool. The collaboration and team performance platform assesses your candidate’s work styles and helps you see if they have the soft skills that aligns with your goals.

Step 5: Interviewing and assessing

Interviews and assessments let you conduct a more in-depth evaluation of job applicants beyond their resumes and applications. For example, behavioral interviews uncover how candidates have handled past situations and challenges, providing insight into their likely behavior in future roles or work scenarios.

To host successful interviews, identify the best-fit candidate and improve the quality of hire:

Prepare in Advance

Review the candidate's resume and application thoroughly before the interview to understand their background and qualifications. Then prepare a list of interview questions that align with the job requirements and their experience.

If your candidate took the F4S assessment while applying for the job, you can use Ask Marlee AI (coming soon) to find out the best questions to ask them, based on their roles, department functions, and your company culture.

Structured Interviews

Use a structured interview format with standardized questions for all candidates. This helps in comparing responses objectively and reduces bias.

Instead of asking questions on hard technical skills alone, include questions on attitude and communication (X Factor motivations), as they directly contribute to productivity.

These questions test the candidate’s compatibility and how accurate their F4S assessment results are. For example, if you find out a candidate has a low breadth motivation, you could ask, "You're low in Breadth motivation. Can you tell me how you'd approach crafting a strategy?”

Behavioral Questions

Incorporate behavioral questions that ask candidates to describe past experiences and how they handled specific situations. For example, "Tell me about a time when you had to resolve a conflict within your team."

Video Conferencing Tools

Use video conferencing tools, such as Zoom, Google Meet, or Microsoft Teams, if you run a remote or hybrid team (or if the potential on-site hire is out of town)

If your team uses Zoom for interview calls, you can elevate your interviews with the F4S Zoom integration.

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The integration helps you understand your candidate’s communication style, so you can get the most from each interview by adjusting your approach. It also shows you how they prefer to make decisions during the call. This eliminates communication barriers and gives you a better understanding of the candidate.