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August 11, 2022 | by Jia Wang

Creating a Strong Culture for Talent Acquisition

Attracting ideal talent is the first step toward organizational success, but many companies in the metals industry struggle with talent acquisition.

MSCI recently hosted the first of a three-part talent acquisition webinar series, where I, a human resource (HR) development researcher, was privileged to lead an interactive dialogue with two HR practitioners and leaders, Olympic Steel Vice President of Human Resources Cassy Powers and Russel Metals Director of Human Resources Beverley Downer. We discussed the importance of building a strong cultural foundation for talent acquisition and shared research evidence, personal experiences, and lessons learned. We also suggested ways to foster a strong talent-centered culture and optimize organizational-level practices in talent acquisition.

If you missed this webinar, here the key takeaways, but don’t forget you can watch the recorded webinar on demand in MSCI’s Webinar Library.

Lesson 1: Take a holistic approach. Many companies equate talent acquisition to recruitment only. Talent acquisition covers more than just recruiting, however. It is an ongoing process of identifying, attracting, and onboarding top talent for an organization’s business and current/projected human capital needs. In this sense, talent acquisition is a strategic function focused on long-term workforce planning beyond recruiting, including talent forecasting, talent pipelining, talent assessment, and talent development. On the other hand, recruitment is about filling vacancies to meet the organization’s immediate hiring needs. It is a tactical function with a short-term focus. For this reason, to succeed in talent acquisition, you must take a more holistic approach.

Lesson 2: Create a supportive culture. Culture is the foundation of an organization; without a solid cultural foundation, there will be no sustainable business success. A strong talent acquisition culture is people-centered and process-oriented. It calls for individualized experiences, meaningful work, supportive systems, flexible structures, and growth opportunities. To be able to attract top talent, therefore, you must brand your company with a strong culture, and shift your focus from hiring numbers to candidate experiences by bringing your company’s employee value proposition to the forefront of your talent acquisition process.

Lesson 3: Update policies and strategies. Talent acquisition is always changing; what worked yesterday may not work today. Companies need to conduct regular reviews of their talent acquisition processes to keep up with the changing needs of today’s workforce. Organizations that can provide customized experiences based on individuals’ preferences or priorities at different career stages will be better positioned in the fight for talent.

Lesson 4: Leverage social media. Considering the dynamics of today’s labor market and the easy access to technology, just posting a position or adjusting the job description will not be sufficient to attract top talent. Companies need to tap into different social media platforms to build both internal and external talent networks. With the rise of digital platforms, companies today can find potential candidates in a matter of minutes. So, instead of sitting around and waiting for candidates to apply via company websites, you can simply take advantage of the skill, speed, and scalability offered by communities and digital platforms like Hire Digital and LinkedIn.

Lesson 5: Innovate retention practices. As said earlier, talent acquisition is not just about attracting and recruiting top talent; it is also about finding methods to retain your existing talent. For example, establish internal mobility programs, expand learning and development opportunities, promote from within, and offer more flexible work arrangements. Also, think about what else you can do to give your current employees a richer or fuller career experience — be cognizant of the different needs of different generations of your employees.

I suggest using the following questions as an opportunity to evaluate and modify your current talent acquisition plan so it will not only meet your company’s workforce needs, but also the needs of your current and future employees. Questions you should ask include:

  • What process does your company follow for talent acquisition?
  • Who is involved in the talent acquisition process in your company?
  • What policies and strategies do you have in place to attract top talents?
  • What is the role of your HR team in meeting your company’s talent needs?
  • What can you do to improve your current talent acquisition policies and practices?

Finally, on behalf of MSCI, I invite you to join me for the second of the three-part Talent Acquisition webinar series in the fall. In this virtual session, we will explore how to effectively conduct interviews to identify the ideal candidates you need.

Stay tuned to MSCI’s webinar calendar for scheduling information.

Dr. Jia Wang is a professor in the Department of Educational Administration and Human Resource Development at Texas A&M University. Her research focuses on international and national human resource development, organization crisis management, and learning within organizations.

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