Before Recruiting . . . focus on HR Function
Successful companies first focus on the HR function
by Mark D’Agostino
President – ConnectedHR
October 2022 Issue
Putting the cart before the horse. Leapfrogging. Skipping steps. When it comes to talent acquisition, those who are successful never neglect the cardinal rule of recruiting: First build out your human resources function.
Often the term “human resources” is used interchangeably with “talent acquisition,” or “talent management.” It’s all the same, isn’t it? Well — no. They’re separate disciplines that support different stages of the employment experience. And that experience starts with talent.
Attracting and retaining talent is a challenge for all businesses. We’re up against historically high levels of Americans quitting in the wake of the pandemic. This means lots of job openings, and not enough applicants. The U.S. Bureau of Labor Statistics publishes the unemployed-to-job-openings ratio — the number of unemployed people divided by job openings. It reports, “A ratio less than 1.0 means there are more job openings than unemployed people. This measure has been below 1.0 since July 2021. In May 2022, the ratio was 0.5, the lowest in the history of the series.
So, how can you compete? Up your HR game. Too often, a knee-jerk reaction of smaller to mid-sized companies desperate to fill job openings is to narrowly focus on recruiting. However, they do this — using a headhunter, tasking a hiring manager or other internal person – the focus is on getting as many qualified applicants in the door as possible. But this is short-sighted. To successfully attract and retain talent companies must build their HR function to make it an intrinsic part of the recruiting process.