Building a Sustainable Talent Acquisition Model in a Dynamic Business Environment

Abstract

This article describes how rapid globalization, changes in the technology landscape, and changes in the way people manage organizations, have increased the need for competent workforce who could be a source of sustained competitive advantage for the organization. Thus, companies specifically in IT/ITES sector are investing huge amount of time, money and resources to build their talent acquisition strategy. Recruitment has mostly been a reactive approach and organizations generally scout for candidates only when there is vacancy. This article attempts to introduce the concept of sustainable talent acquisition to ensure steady supply of talent to meet future needs of an organization. Authors have tried to incorporate the idea of three pillars of sustainability – environmental, social, and economic into the recruitment landscape and to build an action plan to speed up hiring process and improve cost efficiency. Authors believe that environmental sustainability can be achieved by constantly gauging talent demand and ensuring steady supply, social sustainability can be met by engaging talent pool to build long term relationships and economic sustainability can be attained by effectively using data to ensure cost effective hiring. Taking the example of a study conducted to optimize recruitment funnel in an ITES company, authors have explained how analytics can help achieve desired results.