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????????????????? Talent Acquisition: A challenge to Industry

????????????????????????????????Dr. Ch. Satyanarayana, Director,

???????????????????? ???????????Yadavrao Tasgaonkar School Of Business Management,

???????????????????????????????? Chandai, Bhiwpuri Rd.

?‘Talent Acquisition' describes identifying the sources of talent pool by assigning job to HR consultant, headhunters. Going through the process of selection, through newspaper advertisement, online selection and through conference recruitment. Talent acquisition involves all these processes and also includes finding attractive and highly talented experienced individual into the organization.

It is estimated that at least 1/3 of business failures are due to poor hiring decisions and inability to attract and retain the right talent.
The average cost of replacing a manager or professional is 1.5 to 3 times salary.
The cost of working around an under-performer can run as high as six figures
The cost of consistently failing to attract and retain good talent ? including declining productivity, morale, culture and reputation - is inestimable.
Each vacant position costs your organization Rs. 60,000 on paul grey road jersey average.
For some management positions, it can easily run into six figures.

Notwithstanding the economic situation of a country which may affect the job market for a time being, many 'A-players' who have not had significant opportunities for growth and advancement change jobs, and paul grey road jersey the fundamental shortage becomes apparent - especially for those companies who have not developed a reputation as 'employer-of-choice', and who have not developed the capabilities and infrastructure to compete effectively to acquire and retain scarce talent resources.
Thus, first and foremost, 'talent acquisition' forms a part of paul grey road jersey a much broader strategic approach in the corporate quest to gain and sustain a competitive advantage in today's marketplace. Other aspects include talent development, retention and transition, these are primarily inward facing, whilst the former is outward looking.
The core concept of talent acquisition is to get away from the 'fill in the box' thinking to one that is more pro-active and much closer to building the skill sets required to achieve business success. Encouraging your own 'star' players to identify other outside top performers is an extremely powerful tool that is being used more and more.