What is Acquisition?

Acquisition is the approach of finding and attracting the right talent to apply for open positions at the right cost. Companies can fill a vacant position by hiring applicants through mutual channels, existing employees based on performance, expertise, and ability. It provides an incentive for staff to perform well and get promoted. HR Managers can also fill a vacant position by working with professional recruitment agencies that handle private employment, post ads on online career sites, or use headhunting to recruit from competitors.

Why is acquisition important?

Hiring the right candidate

Acquisition helps you hire the right candidate for the company. Hiring someone who not only has the required skills but also respects the company values.

Saving time and money

A streamlined acquisition process ensures you hire the right talent at the right time, saving unnecessary costs and saving time. Hiring the right candidate on time is crucial when a company is scaling up.

Building productive teams

Hiring candidates from various backgrounds with a variety of skills will create a productive team that can excel. It not only promotes productivity but also creates an inclusive workplace.

Acquisition - FAQs

What do you mean by acquisition?

Acquisition means sourcing and hiring the right talent for your company. It can be done through multiple channels like job boards, social media, internal promotions or recommendations.

What are the four stages of acquiring human resources?

There are four general steps in the acquisition process-

  • Identify: Study the current supply of employees and gauge their maximum potential
  • Planning: Identify the talent gaps in company and determine the future of the workforce,
  • Balance: Manage the workforce and supply them with additional resources when required.
  • Develop future goals: Determine the company goals for the future and create teams that are in alignment with those goals.

Let’s Recruit, Reward, and Retain
Your Workforce Together!

Request a Demo
Request a demo image