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At the risk of being branded audacious, I'm going to say that the answer to that question for most organizations is a resounding YES. There isn't a whole lot of research and data available on this but there are obvious indicators of inefficiencies in the talent acquisition process. For starters, a vast majority of corporations do not know how much they spend on acquiring talent. The budgeting process is ad hoc, far from "scientific" and is based on limited input from the business.

There are several cost items which are distributed across various budget holders and hence the organization does not have a cohesive view of the overall financial impact. Then there are several hidden costs such as those attributable to the time consumed by the business in interviews and other forms of assessment which do not get counted. As always, there are exceptions and it would be great to hear the experiences of organizations that have "figured this out" or have been grappling with specific challenges.

Related Tags: recruitment, hiring, talent, budget, assessment

read user's comments(7)

I am 2010 pass out M.Tech(CSE) from NIT,Durgapur.I am searching for a job.Please help me

Posted By: SNEHASISH SAHA

1 month, 2 weeks ago

Kya galath kamaaa hai yeh...

Posted By: Anonymous

4 months, 4 weeks ago

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Posted By: Perf india

6 months, 3 weeks ago

Good Doc

Posted By: Ankur Ghiria

1 year, 6 months ago

Anoop: Thank you for your comments. Budgeting and planning are a bit of both art and science; they need to combine predictability with flexibility and agility. Projects don't materialize out of nowhere and there is usually advance information to indicate the need to plan for an upcoming project; staffing/talent acquisition is merely a downstream planning activity. If organizations and teams aren't working within the broad framework of a business plan then they're stewing in boiling soup anyway.

Posted By: Thomas

1 year, 11 months ago

As far as the Indian market is concerned, major part of the hiring budget goes into "meet" & not "means" (i.e., search, interviewing, etc.), which is OK to a certain extent.
But looking at the present tussle for getting good talent - Idea recruiting (recruitment through events other than conventional assessment methodologies), employer branding, referrals, professional networking, online interviewing and related fields can prove helpful in bringing the talent acquisition cost down and reducing the ad hoc approach to a large extent.

Posted By: Tarun

1 year, 11 months ago

Well Thomas!! I would say this is pretty much a debatable topic. Expenses towards talent acquisition is very much market depended. And if somebody plans to be scientific then the project for which you plan to hire, may be in a big soup.

Posted By: Anoop Menon

1 year, 11 months ago

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