Talent acquisition strategies you’ll learn with an MBA in HR

Every aspiring student can learn effective talent acquisition strategies with an MBA in HR. MBA in HR is one of the best degrees out there for students who want to enhance their people management skills and put them to use for the growth of their company. This course enhances skills associated with employee management, onboarding, training, performance evaluation, rewards and remuneration, and so on. Let’s begin by understanding the scope of an MBA in HR and industry trends in talent acquisition and HR strategies.

Why is talent acquisition important? 

Talent acquisition simply implies acquiring or scouting for talent. But it does not mean filling vacant positions by blindly hiring people. Talent acquisition is the process through which you find an individual with the right skills and qualities that are needed for the company to grow. There are several effective talent acquisition strategies an MBA in HR can teach individuals, including enhancing growth and development in their workplace. There are also innumerable networking opportunities for HR professionals in MBA programs. The importance of talent acquisition in a company is unfathomable and cannot be compromised. Here are some reasons why- 

• Organizations that invest in talent acquisition attract top-quality employees that give them a competitive edge over other competitors in the industry. 
• Talent acquisition is not limited to hiring the right employees but also retaining them. Employee retention is possible only when employees are happy and fulfilled with their jobs and their remunerations.
• Talent acquisition strategies, if enacted properly, facilitate positive employer branding from the perspective of job seekers. 
• Effective talent acquisition also allows for powerful and strategic workplace planning.

Effective talent acquisition strategy techniques

When aligned with business goals properly, effective talent acquisition strategies can help the company reach new heights of success. There are a number of recruiting and hiring techniques taught in MBA HR programs. For this to work, an MBA in HR can educate you perfectly on the 4Bs of effective talent acquisition strategies. 

1. Build

It is of utmost importance to build and nurture talented employees so that they prove beneficial in the long run. This can be achieved by organizing training sessions, workshops, psychometric assessments, internships, and more.  

2. Bridge 

Bridging is quite literally what a ‘bridge’ does. As a bridge helps a person move from one side to another, similarly, bridging is the process of training employees by excessively emphasizing an all-around growth and development approach.

3. Buy

A special focus on purchasing or ‘buying’ new, budding, and promising talent for your company always yields good results. With this talent acquisition strategy, your goal must be to add new skills to your team rather than just acquire experienced individuals. An MBA in HR will teach learners that they can achieve this through referral programs, recruitment drives, internships, and so on.

4. Borrow 

This strategy can help the team explore promising strategic resources without making a permanent or long-term commitment. HR can borrow resources or find alternative individuals who fit well into the organization.  

Pursuing an MBA in HR will help students learn all of these effective talent acquisition strategies. Additionally, the course will help them put these strategies to practical use. 

Also read about the most in-demand MBA specializations in 2024

Talent acquisition best practices

Some of the best talent acquisition practices of today’s time are:

• Upfront and direct hiring of the top talent in the industry.
• Enforcing referral programs to utilize the social network of your current employees. 
• Scouting for talented freelancers who fit well within the organization. 
• Curating attractive internship programs for freshmen. 
• Baiting previously lost talented employees. 
• Identifying internal talent and grooming it for a defined future. 
• Borrowing and creating temporary positions that can be filled later on once the company finds the right fit for the role. 
• Establishing the company’s presence at job fairs. 

Industry trends in talent acquisition

The world keeps evolving, and so do the trends in talent acquisition. Companies have tried, tested, and held onto the best practices in talent acquisition while experimenting and learning new ones. Some of the industry trends in talent acquisition and HR are: 

1. Incorporating generative AI into the recruitment process:

Be it the entertainment life or corporate life, generative AI has clawed its way into it. Generative AI is increasingly assisting companies in the hiring process by performing a large number of tasks, such as drafting job descriptions, personalizing applicant outreach, scheduling candidate evaluations and interviews, and other such monotonous tasks. 

2. Embracing a hybrid work culture:

Studies have shown that a vast majority of employees do not approve of returning to offices, and companies have adopted a hybrid work structure model to enable them to experience the freedom of remote work while gaining all the benefits of working in an office.  

3. Early hiring

Another industry trend is that companies acquire talent at a very early age. They approach students while they’re still studying and hire them, allowing them to hire entry-level employees while staying within their budget. The employer also provides a healthy work environment to these young employees with the aim of retaining them in the long term.

4. Furnishing a positive candidate experience

Companies work hard to ensure that they leave a positive impression on candidates. They do this by facilitating clear communication, providing timely feedback, and revamping their application procedures. 

You may also read how to choose between marketing, finance, and HR specialization in MBA

Successful talent acquisition case studies with an MBA in HR

Some case studies on successful talent acquisition with an MBA in HR that will prove helpful to students who are aiming for an MBA in HR are:

1. Unilever

Unilever’s hiring process was outdated, involving heavy paperwork, phone screenings, and manual assessments. The company faced the challenge of hiring 800 employees from 2,50,000 applicants within 4 to 6 months. To tackle this, the IT and HR teams teamed up and rolled out a ‘Future Leader’ program that targeted fresh university graduates who aligned with Unilever’s needs and requirements. Then, the company introduced its full-fledged mobile recruitment process. They even hired HireVue (an AI and HRM company) to stimulate an engaging experience for the candidates. 

2. Axis Bank

Axis Bank launched the Axis Bank Young Bankers (ABYB) program to help young individuals grow in a 1-year residential program. To aid the recruitment process, a hiring solution consisting of video interviews with AI scoring systems, cognitive tests, a sales situational judgment test, and a personality assessment test was rolled out. This streamlined Axis Bank’s evaluation process, decreased recruitment costs, and provided each candidate with an engaging experience.  

3. Google

We all know how committed Google is to having an all-inclusive and diverse workforce. To solve this issue and uphold its commitment to diversity, Google used AI tools and services to mitigate biases. During the initial screening process, Google removed any personal information from candidates’ resumes that hinted at their cultural, racial, or religious background. This ensured that all aspiring candidates were evaluated purely on the basis of their skills and efficiency.  

4. Amazon

To reduce costs and time, Amazon used AI to effectively streamline its recruitment process by automating repetitive tasks. Tasks such as screening resumes and the initial assessment of candidates are all under the control of AI, which saves a lot of time and manpower.  

5. Microsoft

Using AI tools and techniques, Microsoft has successfully enlarged its talent pool. With the help of sourcing algorithms, the company identifies individuals from various diverse backgrounds who are fit for the organization and may have been overlooked in the initial traditional screening processes. This solution not only fulfilled the organization’s diversity goals but also added a sense of uniqueness to it.

Build a successful career in HR with Online Manipal

Manipal University Jaipur helps aspiring students build a strong and successful career with an online MBA in HR. With top-class course facilities, students can attend live lectures at their own pace and from the comfort of their homes. Online Manipal gives a powerful kickstart to every student’s career with enhanced digital platforms and the experience of veteran faculties. 

Conclusion

Students should grasp the potential of effective talent acquisition strategies with an MBA in HR before starting their learning journey. Institutions like Online Manipal offer tailored programs to equip students with the necessary skills. By pursuing an MBA in HR, individuals can unlock diverse career opportunities and excel in the field of human resources.