Building a Winning Talent Acquisition Strategy

The last year and a half has been quite the rollercoaster for talent acquisition teams around the world. Widespread layoffs, hiring freezes, limited resources, shifting remote work paradigms, and economic uncertainty have all contributed to an exceptionally challenging hiring environment. When combined with a globalized market and a rapidly growing demand for tech workers with specialized skill sets, it’s no surprise that many businesses are having a hard time finding the right talent. We found that 41% of talent acquisition leaders reported a more competitive hiring landscape and nearly a quarter stated that they struggled to find qualified candidates.

As the job market continues to tighten, with projections showing a significant talent shortage by 2030, a well-crafted talent acquisition strategy is a necessity. Below, we’ll cover everything from employer branding and talent pipeline development to leveraging the latest recruitment technology in order to help you build a winning talent acquisition strategy.

Understanding talent acquisition

Ever wonder why some companies always seem to have the right people at the right time? The secret is knowing the difference between talent acquisition and recruitment. While they might sound like buzzwords, they actually serve unique purposes in building a successful team.

Think of recruitment as a quick fix — it’s about filling immediate job openings fast when you need someone ASAP. It’s a speedy process focused on checking boxes and getting someone onboard quickly. Recruitment is great for urgent needs but not ideal if you’re looking at the bigger picture.

Talent acquisition is where strategy meets foresight. It’s not just about meeting today’s needs but looking ahead to tomorrow’s challenges. Charles Mah, Chief Customer & Operations Officer at GoodTime, emphasizes that “taking a ‘success’ mindset means adopting a business-first approach to talent acquisition and elevating the value talent acquisition offers.” 

By strategically building a talent pipeline and keeping in touch with potential candidates, companies can align hiring processes with broader business goals. This proactive approach means that when a key role opens up, you’re not just searching — you’re choosing from a curated list of top-tier talent already connected with your brand.

This is particularly important for industries and roles that require highly specialized skills, where the right talent might not be readily available when a position opens up. As Mah puts it, “Talent Acquisition is akin to customer success. It’s about ensuring the business grows by hiring the right talent and providing the best experience to retain every candidate they engage with because they are likely future hires or customers.”

Key benefits of a strategic approach

Implementing a strategic talent acquisition strategy offers numerous benefits that go beyond simply filling open positions. Some key advantages include:

• Increased retention: By finding and hiring candidates who are a good fit for your organization’s culture and values, there is a higher chance of retaining them long-term. This reduces turnover costs and improves overall employee satisfaction.
• Better quality hires: Strategic talent acquisition involves thorough screening and evaluation processes to find the most qualified candidates. This results in better quality hires who can bring more relevant skills and experience to your company.
• Reduced costs and time-to-hire: While building a talent pipeline requires upfront investment, it leads to significant cost savings over time. With a pre-vetted pool of candidates, the recruitment process becomes faster and less resource-intensive, reducing the need for expensive external recruitment services or prolonged vacancies.
• Improved employer branding: The focus on building relationships and engaging with potential candidates can greatly improve an organization’s employer brand. By showcasing a commitment to employee growth and development, as well as offering competitive compensation and benefits packages, your organization will attract top talent who are looking for more than just a job.
• Adaptability to changing needs: A strategic talent acquisition strategy allows companies to anticipate future needs and proactively develop their workforce accordingly. This can provide a unique competitive advantage, as companies with a strong talent pipeline can quickly adapt to changing market conditions and business needs.

Steps to develop a talent acquisition strategy

There is no one-size-fits-all approach to developing a talent acquisition strategy. However, there are certain key steps that can help guide the creation of an effective and adaptable plan. Whether you’re just beginning to build a talent pipeline or looking to refine an established process, consider these foundational elements.

Workforce planning and forecasting

Workforce planning and forecasting are the bedrock of any successful talent acquisition strategy. This process involves assessing your current workforce, identifying skills gaps, analyzing market trends, and predicting future staffing needs based on business objectives.

You want to look ahead and ask, “What skills will we need in six months, a year, or even five years?” By taking this proactive approach, you can avoid the pitfalls of reactive hiring and make sure that your organization has the right talent in place to drive future growth.

Workforce planning should be an inherently collaborative process that gathers input from a wide variety of stakeholders, including department heads, HR, executive leadership, boots-on-the-ground employees, and even industry experts. Together, you’ll consider the external trends, internal talent capabilities, and organizational growth projections to create a clear roadmap for your talent acquisition strategy.

Additional factors to consider include:

• Projected employee turnover rates
• Anticipated growth or decline in certain areas of the business
• Upcoming retirement or promotion of key employees
• Changes in technology and skills required for future job roles
• Diversity and inclusion goals
• Budget constraints and cost-saving measures

Crafting effective job descriptions

Even as talent operations move into an era of automation and data-driven decision-making, the humble job description remains just as important as ever. After all, it’s often the first impression a candidate has of your organization and can play a major role in attracting top talent.

Truly effective job descriptions go beyond mere lists of qualifications and responsibilities. They tell a story about the role and your company — one that resonates with the right candidates and clearly communicates the value they’ll bring to your team.

Try to write a job description that is concise yet comprehensive, detailing the key responsibilities and required qualifications while also highlighting the unique aspects of the role and your organization. By emphasizing opportunities for growth, company culture, and the impact of the role, you’ll attract candidates who are not only qualified but also motivated to contribute to your organization’s success.

Remember to also use inclusive language and avoid any unconscious biases that may turn off potential candidates. The last thing you want is to limit your talent pool by unintentionally excluding qualified individuals.

Finally, don’t be afraid to get creative. Past research from CareerBuilder has shown that job postings with video get 12% more views and 34% higher application rates than those without. Including visuals and multimedia can bring your job description to life while helping you to stand out in a sea of generic postings.

Building talent pipelines

Most talent acquisition activities circle back to one thing: building robust talent pipelines. While the term talent pool refers to a static list of potential candidates, talent pipelines are dynamic, ongoing processes that involve nurturing and engaging with potential candidates until they are ready to fill a role. This includes not only active job seekers but also passive candidates who may not be currently searching for a new position but could be open to the right opportunity.

To source candidates effectively, go beyond job boards and tap into social media networks, industry conferences, and partnerships with universities and professional organizations. By diversifying your candidate sourcing channels, you’ll widen your reach and connect with a broader range of potential candidates. Internal promotions and employee referrals are also valuable sources of talent, as they can bring in candidates who are already familiar with your organization’s values and culture.

Once you’ve identified potential candidates, focus on building relationships and maintaining communication through various touchpoints. This could include sending out regular newsletters or updates, hosting open houses, inviting potential candidates to networking events, or even personalized check-ins. The goal is to keep these individuals engaged and interested in your organization so that when a suitable opportunity arises, they will be more likely to apply.

Incorporating feedback from both candidates and hiring managers can also help improve your talent pipeline by pinpointing areas in need of adjustment. Gather feedback from hiring managers on the quality of candidates as well as any common pain points in the recruitment funnel. Similarly, ask candidates for their thoughts on the application process, interview experience, and overall impression of your organization.

GoodTime’s Candidate Pulse feature can be invaluable here, as it captures candid, role-specific feedback from your candidates via highly configurable surveys throughout the interview process.

Enhancing employer branding

Another important aspect of talent acquisition is the cultivation of a positive employer brand. Candidates are looking for more than just a paycheck. They want to work for organizations that align with their values, offer opportunities for growth and development, and have a positive reputation in the industry. Think of employer branding as both a reflection of your company’s core ethos and a promise to future employees about what they can expect.

To build a compelling brand, start with a clear understanding of what makes your organization unique. This includes your company culture, the opportunities for growth you offer, and your commitment to diversity and inclusion in hiring. Use these elements to craft a brand narrative that will resonate with your target candidates.

Leverage multiple channels to communicate your brand, including social media, employee advocacy programs, and industry events. Engaging content like behind-the-scenes videos, day-in-the-life stories, and employee testimonials can bring your brand to life.

Remember, consistency is key — ensure that your messaging aligns across all touchpoints, from job descriptions to onboarding materials. Candidates are savvy and can easily see through superficial attempts at branding. Instead, focus on highlighting your company’s true strengths and highlighting real employee experiences.

Streamlining the selection process

An effective selection process is essential for maintaining momentum in talent acquisition. A lengthy or disorganized hiring strategy can turn off candidates and lead to losing out on qualified applicants.

Start by simplifying your job application process — make it easy for candidates to apply by minimizing the steps required and avoiding lengthy, repetitive forms. Standardize your screening process by establishing clear criteria for each role and using consistent evaluation methods (i.e., skills assessments, structured interviews, and diverse interview panels).

Next, establish clear timelines and communicate regularly with candidates to keep them engaged and informed about their status in the process. This shows respect for their time and increases the likelihood of a positive candidate experience.

Proper utilization of your technology stack will also go a long way in maintaining a smooth and efficient process. Applicant tracking systems (ATS) can help you efficiently screen resumes, track candidate progress, and identify top talent, while automated interview scheduling platforms, like GoodTime, can help streamline the scheduling process and eliminate back-and-forth communication. Ideally, these tools should eliminate tedious manual and administrative tasks, giving your talent operations team more time to focus on building relationships with candidates and making informed hiring decisions.

Best practices for hiring and onboarding

So you’ve successfully attracted a pool of qualified candidates and have chosen the top candidate for the job. Congratulations! But the hiring process is not over yet. Now it’s time to focus on onboarding your new hire and setting them up for success in their new role.

Effective onboarding should focus on integrating new hires into the company culture and setting them up for long-term success. Begin with a well-organized orientation program that familiarizes new employees with company values, expectations, and resources. Pair them with mentors or buddies who can guide them through the initial stages and answer any questions they may have.

Regular follow-ups during the onboarding period are crucial. These check-ins provide an opportunity to address any issues, clarify expectations, provide feedback, and offer additional support where needed. Additionally, you may want to consider extending the onboarding process beyond the initial few weeks to include continuous learning and development opportunities. This long-term approach will not only boost employee satisfaction and retention but also foster a culture of continuous growth and improvement within the organization.

Best practices in talent acquisition

As mentioned above, talent acquisition is not a singular event. It is a continuous business activity that requires constant attention and improvement. The following are some best practices to keep in mind when it comes to refining and optimizing your talent acquisition process.

Leveraging technology and data

99% of talent acquisition leaders surveyed in our 2024 Hiring Insights Report said their teams used some form of automation or AI in the past 12 months. Here are some of the top tasks these teams cited using the tools for:

• Application/resume review and screening
• Creating interview questions
• Writing job descriptions
• Interview scheduling
• Drafting candidate communications

What’s the through line here? Time. Efficiency. Productivity.

Technology is being used to save time on tedious and repetitive tasks, freeing up recruiters’ schedules for more impactful activities like building relationships with candidates and personalizing the candidate experience.

Mah points out that “Talent Acquisition can manage supply and demand through AI, Analytics, and AI-driven customer practices for its candidates.” However, he also cautions that simply “digitalizing or going semi-manual doesn’t cut it because it’s masking a significant operational problem when budgets and resources are being questioned.” By strategically applying technology, talent acquisition teams can elevate their processes, driving better outcomes across the board. 

Take, for instance, AI recruitment tools like GoodTime, which automates up to 90% of interview management tasks. These tools don’t just save time, they enhance the entire interview process with intelligent interviewer selection, real-time feedback collection, engagement tracking, and advanced metric reporting.

Plus, by focusing on key recruitment metrics such as time-to-fill, cost-per-hire, sourcing channel conversion rate, and candidate satisfaction, your talent acquisition team can zero in on exactly what’s working and what’s not, making data-driven decisions to continuously improve your hiring processes.

Ensuring a positive candidate experience

A positive candidate experience is a core component of any successful talent acquisition strategy. Every step of the recruitment process should be designed with the candidate in mind, making sure that they feel respected, informed, and valued from start to finish.

One of the key ways to achieve this is through effective communication. Geva Whyte, a recruiting coordinator previously with OpenAI and Google Fiber, highlights the importance of this, noting that “style, tone, consistency, and frequency” of communication are vital in shaping a candidate’s experience.

He goes on to state, “Communication gives candidates an idea of the kind of culture they will be stepping into. In your communication with the candidates, are you coming off friendly and inviting? Stiff and robotic? Are you sending follow-up emails? Are you using the default boilerplate ATS rejection email if things don’t work out? One of the biggest and easiest pain points to solve is recruiters ghosting on candidates.”

The last thing you want is former applicants spreading negative experiences on social media and job review sites, tarnishing your employer brand and potentially turning off other potential candidates. In fact, even applicants who didn’t receive offers but had positive experiences can be advocates for your company.

Putting a final point of emphasis on the subject, Whyte advises, “The talent pool isn’t as big or as deep as organizations like to believe — candidates talk to each other. Even if a candidate doesn’t make it to the offer stage, they will still mention a positive interviewing experience which could lead to them referring people they know.”

Retention strategies for high-performing staff

With the amount of blood, sweat, and capital that goes into recruiting top talent, retaining them once they’re on board is just as important, if not more so. This sentiment was echoed in our 2024 Insights Report, in which TA leaders pointed to retention as their top expected hiring challenge over the next 12 months.

Here are some strategies to ensure your top talent stays engaged, motivated, and loyal:

1. Offer competitive compensation and benefits: Money isn’t everything, but it certainly plays a major part in an employee’s decision to stay or leave a company. Regularly review and adjust compensation packages to ensure they are competitive with industry standards. Consider performance-based bonuses, equity options, and other financial incentives that directly tie to the employee’s contributions.
2. Tailored development plans: High performers are driven by growth. Develop personalized career progression plans that align with their strengths and aspirations. Provide opportunities for continuous learning, advanced training, targeted mentorship, and leadership development to keep them challenged and engaged.
3. Encourage work-life balance: Your best workers often push themselves hard. Encourage a healthy work-life balance by offering flexible working arrangements, paid time off, and wellness programs. This not only improves their quality of life but also boosts productivity and loyalty.
4. Recognize and reward achievement: Recognition is a powerful motivator. Regularly acknowledge the hard work and achievements of your high performers, both publicly and privately. This could be through formal recognition programs, such as Employee of the Month, or more personalized gestures like a gift or one-on-one recognition with top leadership.
5. Foster a positive work environment: A supportive and inclusive work environment is key to employee satisfaction. Ensure that your organizational culture promotes teamwork, open communication, and respect. Address any issues of workplace toxicity immediately and create a safe space where employees feel valued and heard.

Diversity, equity, and inclusion (DEI) initiatives

Diversity, equity, and inclusion (DEI) have become increasingly important in today’s workplace. Companies that prioritize DEI not only create a more equitable and fair workplace for employees, but also tend to benefit from boosted creativity, improved innovation, and even increased profitability.

Some ways to incorporate DEI initiatives into your organization include:

• Diversifying hiring practices and actively seeking out a diverse pool of candidates
• Providing training on unconscious bias and promoting inclusive behavior
• Implementing diversity-focused mentorship or sponsorship programs
• Creating employee resource groups for underrepresented communities
• Regularly reviewing policies and processes to ensure they are equitable for all employees.

The commitment to building an inclusive environment can go a long way in strengthening your employer brand, marking your organization as a desirable and socially responsible place to work. Consider highlighting your diversity and inclusion hiring strategy in your company’s marketing materials and job postings to further amplify your commitment.

Real-world examples

Many leading companies have successfully implemented the strategies discussed, setting strong examples in the industry. For instance, Google’s approach to diversity, equity, and inclusion has been widely recognized. The company regularly publishes its annual diversity report, highlighting both progress and areas for improvement while actively working to create a more inclusive culture through targeted initiatives like unconscious bias training and employee resource groups.

By highlighting things like diversity statistics, employee testimonials, and initiatives like their “Next Billion Users” program aimed at connecting more people from underrepresented communities to the internet, Google is able to attract a segment of top talent that wants to feel a part of something bigger than just a 9-5 job.

When it comes to leveraging technology in talent acquisition, Netflix stands out. The company utilizes advanced AI-driven tools to streamline the selection process, ensuring that hiring decisions are data-driven and efficient. This approach not only speeds up the hiring process but also enhances the candidate experience by reducing biases and increasing transparency.

Looking ahead: Building a future-ready workforce

In a season where talent is scarce, and competition is fierce, a well-rounded talent acquisition strategy is your secret weapon. The entire journey, from crafting effective job descriptions to streamlining the selection process and ensuring a positive candidate experience, is about building a future-ready workforce that can drive your organization toward success.

Remember, this process is iterative. What works today may need refining tomorrow. As Whyte points out, “Having a dynamic recruiting process can allow organizations to adapt to market fluctuations,” ensuring that you can continue to attract and retain top talent even in a rapidly changing environment. The most successful companies are those that are willing to adapt, innovate, and put people at the heart of their strategy. 

By embracing these practices, you’re not just hiring talent — you’re securing the future of your organization.