If you’re interested in hiring some new employees, who is in charge of that? Is it Human Resource Management, Talent Acquisition, or Talent Management? And what do all those terms even mean, anyway? They’re often used interchangeably, but is that accurate? In fact, it is not, but we’ve got the skinny on how to use those terms correctly and understand what you’re talking about.
What are the disciplines of Human Resource Management?
The first thing to understand is that Human Resource Management (HRM) encompasses the other two terms. HRM is simply the way companies manage employees, and it’s made of three main disciplines:
Understanding the differences between Talent Management, Talent Acquisition, and Human Resource Management
In some companies, all HR employees handle every aspect of Human Resource Management. In other companies with a larger staff, HR Talent Management might be handled by a small internal team, while Talent Acquisition and compensation are handled by other teams. Let’s dig deeper, with some frequently asked questions about Human Resource Management.
- What, exactly, is meant by talent? This term is often used to describe good job candidates, but it’s really an imprecise term. When you’re hiring, it’s important to assess measurable skills and values so that you’ll know which candidates can meet your needs. Coming up with a skills-based job description is an important part of developing a structured interview process that will help you hire a skilled applicant for the job.
- What is Talent Acquisition? This is an important part of an HR department, because this is the discipline that attracts and hires skilled employees to meet the needs of a company. To accomplish this, a company needs a team that can build a strong employer brand that will attract high-quality candidates, proactively create applicant pipelines to keep up with current and future business needs, maintain strong relationships with past candidates, and source potential hires strategically, tapping into a diverse talent pool.
- What is Talent Management? When you’re talking about Talent Management vs HR Management, it’s the difference between an overarching concept and one of its components. The objective of HRM is to hire good people and use thoughtful policies and procedures to manage them. Talent Management is much more specific, developing and training employees in a company. A good HR Talent Management strategy involves coaching high-potential employees, providing employee training programs, building hiring and succession plans, and mentoring and rewarding employees.
- Why is Talent Management important? The importance of talent management in HR can’t be overstated, because retaining high-quality talent keeps your business running smoothly. The Talent Management team works to develop new and current employees’ skills to keep them aligned with the structure and goals of your organization. This can be accomplished by onboarding new hires by scheduling first-day tasks and check-ins, conducting regular skills gap analyses and scheduling training programs, designing the company’s organizational structure and creating a clear definition of each position’s responsibilities. Managing talent effectively involves increasing retention rates through employee career-pathing: defining potential roles for employees, and mapping out the skills, knowledge, competencies, experience, and characteristics required to move up in the company. To keep employees motivated, talent management finds ways to boost morale, and coaches and develops employees so that they can reach their full potential.
If the process of finding, acquiring, and managing talent seems daunting let Progressive Reliability do some of the heavy lifting for you. To learn how we can help you hire and retain high-quality talent, contact us or call 888-252-3122.