Talent Acquisition and Retention
Recruitment and Selection
Talent acquisition covers the entire process from employer branding to onboarding. Candidates should know recruitment sources (internal vs. external), selection methods (interviews, tests, assessment centers), and the importance of validity and reliability in selection. Traps include confusing validity (measuring what it intends to) with reliability (consistency), or assuming all selection methods are equally predictive. Structured interviews and work samples generally have higher validity than unstructured interviews.
Retention Strategies
Retention focuses on keeping top talent through engagement, development, and rewards. Key concepts include employee value proposition (EVP), onboarding best practices, career development, and managing turnover. Examine turnover types: voluntary vs. involuntary, functional vs. dysfunctional. A common trap is to assume all turnover is bad; some turnover can be healthy (e.g., removing low performers). Retention strategies should be data-driven, using exit interviews and stay interviews.
Worked Example
If a company has high voluntary turnover among high performers, HR should analyze exit interview data, conduct stay interviews, and review compensation and career growth opportunities. A trap is to implement a blanket retention program without diagnosing the root cause.
Rule of Thumb
Use the 80/20 rule: focus retention efforts on the 20% of employees who drive 80% of value (top performers, critical roles).