Let’s say several candidates are competing for an engineer position.
• Two of them look good – they have enough experience.
• The third one is extremely experienced, but wants a lot of money.
• Another one has just graduated from college and seems to have the qualities needed to succeed in this job, he even has few registered patents with interesting ideas, but doesn’t have enough work experience.
• However, the supervisor wants to hire someone from a competing business, because he knows this person, and he is extremely talented and can make a difference to the business. But, the pay structure and benefits package offered by the competitor makes competing for that talent challenging - and you can’t compete.
In this situation, the hiring manager may end up hiring the recent college graduate (even though he wants to hire the competitors specialist with more experience and job knowledge) because of limited resources for the position and possibility to grow this youngster to a great specialist.
This means that talent acquisition is a process based on a longer-horizon vision to staffing. Its long-term o
