Question

In: Economics

Explain the importance of talent acquisition to organizational success Differentiate between recruitment and selection


 Explain the importance of talent acquisition to organizational success Differentiate between recruitment and selection

 Analyze a given business using a systems model for recruitment and selection

 Explain the contribution that professional organizations make to field of human resource management

 Differentiate between morals, ethics, and requirements under law Critique ethical codes of conduct for human resource managers in relation to daily practice

Opportunity Cost = Decrease in Product B Increase in Product A

Solutions

Expert Solution

1.Talent acquisition is important because getting and hiring the right people is a key element of an organization's business plan and it impacts company's future. Without right employees, a business can't increase its productivity level and unable to reach its target. Talent acquisition is important because:


1) It impacts future success: Having right talent helps in the growth of any business. Without right talent, it becomes impossible to carry out any business function. A business with right talent acquisition can not only progress in present but also secure its future plans.


2) It saves time and money: Recruitment is an expensive and time-taking process. In order to hire new candidates, company has to spend on advertisements and job portals. Again it is not possible to select a right candidate in a day or two. A business can save its time and money by having a right talent acquisition strategy.


3) It provides competitive advantage: Right talent acquisition strategy ensures that right pool of talent is available all the time providing a competitive advantage. In a competitive market, it's very difficult to run a business without skilled and experienced manpower.

2. Recruitment: It is a process in which potential applicants are encouraged to apply for a vacancy. It involves several tasks, starting from job analysis to appointment of the employee. Particular tasks involved in the process are:


a) Analysis of job requirements
b) Advertising
c) Attracting candidates to apply for the job
d) Scrutinizing applications
e) Shortlisting candidates


Recruitment involves communication of vacancies and thus, no contract is required. It is an economical method.

Selection: It is a process of picking out an individual from a pool of job applicants with the necessary qualifications and skills to fill the vacancy in the organization. It is a process that helps to differentiate between qualified and unqualified applicants with the help of various techniques. Selection process involves various activities:


a) Screening
b) Excluding unsuitable candidates
c) Conducting a test, such as, aptitude test, intelligence test, or performance test, etc.
d) Interviews
e) Checking references
f) Medical tests


This process is a time-taking process, HR managers must pay careful attention in order to find out the eligibility of every candidate for the vacancy.


Selection needs to create a contractual agreement between the employer and employee. It is an expensive method.





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