In the last decade, the recruitment process has been replaced or eclipsed by the new concept called talent acquisition. This latest strategy has, in fact, successfully paved its way into multinational corporations and large-scale firms. However, while both words– recruitment and talent acquisitions-are lexicons used to define the array of processes involved in recruiting and hiring applicants, their meanings and approaches vastly differ.
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In fact, most people, including HR professionals, assume that the words– recruitment and talent acquisition– are interchangeable. Though, this isn’t the case. However, companies or HR administrators who have an eye on the larger picture are aware of this distinction between the two but, the number of such people is very small.
This leads us to the following question: what is the difference between recruitment and talent acquisition, and which is more important? Let’s find out the answers to each of these questions. In the later segment, we will also learn about the top 5 recruitment tracking systems in 2021.
What is the Recruitment Process?
In layman’s terms, recruitment refers to a set of processes that include identifying, attracting, interviewing, selecting, hiring, and onboarding new employees. It can also be defined as the sequential process of finding and attracting potential resources with the relevant skills and attitudes needed to fill vacant positions in an organization in order to achieve its professional objectives.
The ultimate goal of the recruitment process is to fill vacant positions as quickly as possible, with little regard for the candidate’s specific specialties. In a nutshell, recruitment may be viewed as a reactive approach, implying that recently vacant positions must be filled as soon as possible.
Furthermore, the number of recruiters or the size of the recruitment team varies with the size of the organization. For example, large firms may have an entire department of recruiters, while smaller organizations may have just one recruiter.
Traditionally, most enterprises, large and small, used to attract candidates through classified advertising, job boards, and social media sites. However, in recent years, MNCs and large-scale firms have started to use recruitment tracking systems to more effectively and reliably sourcing the most qualified talents.
Now let’s take a look at what talent acquisition means.
What is Talent Acquisition?
When compared to recruitment, talent acquisition is a much broader process with a much wider scope. In contrast to recruitment, it consists of several steps, including lead generation as well as finding, attracting, evaluating, and onboarding candidates. The approach aims to find and recruit qualified employees to fulfill your organization’s needs and is often put under the Human Resources umbrella in the corporate world.
Furthermore, unlike the linear recruitment process, talent acquisition is an ongoing process that identifies and vets suitable applicants for executive-level positions, leadership roles, and skilled professions. In other words, it is a critical enterprise and human resource strategy that quantifies an organization’s long-term objectives.
Since talent acquisition is a broad and ongoing process, most companies have a dedicated team for it. In addition, given the process’s complexity and significance, most companies rely on technologies such as applicant tracking systems or recruitment tracking systems.
Having read all of this, you must be thinking that both of these processes–recruitment and talent acquisition–are almost similar or overlapping in certain ways. However, there are some significant differences too. In the following segment, we will examine some of the core differences between recruitment and talent acquisition.
Recruitment Vs. Talent Acquisition– 4 Major Differences
Many people mix up these two concepts for valid reasons. After all, both have the same goal of filling open positions and sound almost the same. However, there are four major differences that distinguish recruitment from talent acquisition.
1. Talent acquisition encompasses many processes, including recruitment, employee segmentation, applicant relationship management, job branding, and metrics and analysis. In comparison, recruitment is a subset of talent acquisition.
2. Another significant distinction between recruitment and talent acquisition is the process mode. On the one hand, recruitment is a linear process in which employers source applicants for vacant positions. In contrast, talent acquisition is an ongoing process that has more phases and takes more time.
3. The third distinguishing factor between recruitment and talent acquisition is that, while talent acquisition focuses on assessing potential business requirements when recruiting the candidate, recruitment focuses on short-term objectives and is a tactical solution to manage immediate hiring needs.
4. The fourth major distinction between recruitment and talent acquisition is that, while the recruitment process can be carried out with the assistance of one or two recruiters and without the need of a recruitment tracking system, the talent acquisition process necessitates an entire team of acquisition professionals as well as sophisticated applicant management software.
Now we have an idea about what recruitment and talent acquisition are, as well as how they vary from one another. However, there is one question yet to be answered: Which is more important– recruitment or talent acquisition? Let’s find out.
Which is More Important– Recruitment or Talent Acquisition?
While both recruitment and talent acquisition have their own merits and demerits, talent acquisition has the upper hand when it comes to finding and hiring the right pool of candidates for the organization.
It is important to remember that having a successful talent acquisition strategy empowers companies to recruit the most talented and professional personnel available in the market, which ultimately leads the organization to better business performance and more success.
However, this does not imply that the recruitment process is insignificant or that it is a lesser solution. In fact, for smaller firms or those with short-term hiring needs, recruitment is the best and most cost-effective solution.
Again, kindly note that, whether it is recruitment or talent acquisition, both need technological assistance to achieve their objectives more efficiently besides identifying and employing suitable talent for the company.
Now let’s take a look at the top 5 most sought-after recruitment tracking systems in 2021.
Top 5 Recruitment Tracking Software 2021
The following are the top 5 applicant management software for streamlining application management, recruitment & onboarding processes, and HR activities. Let’s take a closer look at each of the software and its features.
1. CEIPAL TalentHire Recruitment Tracking System
CEIPAL TalentHire is recognized as one of the best AI-powered recruitment and talent acquisition systems for automating recruitment firms’ front and back-office operations. The software uses the exponential power of artificial intelligence to dive into candidate analytics and recognize prospects in order to maximize placement success rate.
Key Features of CEIPAL TalentHire:
- Job board integrations with real-time search
- AI-driven passive candidate sourcing
- Email Campaign for candidates
- Communication center
- AI-powered candidate analytics
- Easy to use graph reports
Payment Terms: Monthly, Yearly
Deployment: Cloud-based
Desktop Platform: Windows, Mac
Mobile Platform: Android, iOS
Website: https://www.ceipal.com/
(Image Source: RecruitBPM)
2. Keka Recruitment Tracking System
Keka is a platform for recruitment and talent acquisition and onboarding new employees. The system includes all of the tools and features necessary to streamline and automate the applicant hiring and tracking processes. Furthermore, it empowers recruiters to perform robust activities such as salary breakup, as well as establish an approval chain for the requisition and interview process.
Key Features of Keka:
- HR analytics
- Expense management
- Applicant tracking
- Employee onboarding
- Attendance management
- Bonus, loan, and advance management
- Shift management
Payment Terms: Monthly, Yearly
Deployment: Cloud-based
Desktop Platform: Web application
Mobile Platform: Android
Website: https://www.keka.com/recruitment-management-software
3. Talview Recruitment Tracking System
Talview is a centralized AI-powered recruitment and talent acquisition solution. It offers a unified solution for various processes such as screening, recruiting, and evaluating top talent by conveniently transferring data across all of your systems. Furthermore, it easily adapts and scales to the organization’s dynamic recruiting and hiring needs.
Key Features of Talview:
- A single solution that unifies the processes
- AI-powered intelligence and insights
- Highly configurable platform
- Candidate-centric app design
- High data security and privacy
- Mobile friendly
- Applicant tracking
Payment Terms: Monthly, Yearly, Onetime
Deployment: Cloud-based
Desktop Platform: Web application, Windows, Mac
Mobile Platform: Android, iOS
Website: https://www.talview.com/
4. HRMantra Recruitment Tracking System
HRMantra is viewed as one of the most feature-rich recruitment tracking systems available, with the ability to automate and centralize all HR-related processes. The software’s smart dashboard with cool AI, allows recruiters and HR to carry out different recruitment and talent acquisition processes in a sophisticated and streamlined manner.
Key Features of HRMantra:
- Human resource management
- Recruitment management
- Performance management
- Leave management
- Includes payroll tool
- Learning management
Payment Terms: Monthly, Yearly
Deployment: Cloud-based
Desktop Platform: Web application, Windows, Mac
Mobile Platform: Android
Website: https://www.hrmantra.com/
5. Freshteam Recruitment Tracking System
Freshteam is an intelligent HR software that enables you to handle your expanding business needs, such as recruitment and onboarding new employees. The platform covers all facets of human resource management and recruitment. Besides that, this recruitment and talent acquisition management software also assists you in attracting top talent through multiple channels such as a career portal, job boards, social media platforms, and emails.
Key Features of Freshteam:
- Job board integration
- Resume Screening
- Onboarding process management
- Employee database insights
- Leave management
- HR reports
- Vendor management
Payment Terms: Monthly, Yearly
Deployment: Cloud-based
Desktop Platform: Windows, Mac
Mobile Platform: Android
Website: https://www.freshworks.com/hrms/
We recommend that you adopt one of these top 5 recruitment tracking systems to improve the recruitment and talent management process at your company in order to attract the most talented and skilled employees.
Summary
Given its overlapping functions, recruitment and talent acquisition can appear to be the same or interchangeable strategies. However, on a broad view, they are vastly different, and each has its own significance and benefits. Therefore, make certain that you choose the most viable solution based on your requirements. Besides, for advanced and automated HR and recruiting procedures, use applicant management software.
Paras Kela is a web developer turned content writer who holds writing expertise in multiple niches. The strong cocktail of his English-medium schooling, passion for writing, and vast industry experience help him create information-rich, SEO-friendly, engaging content. In his spare time, he enjoys binge-watching drama series & documentaries, gardening and spending time with loved ones.
