Large corporations are making huge efforts to attract top talent and lower costs in order to be competitive in increasingly competitive business environments. In the race for lucrative markets, talent acquisition has become a key business activity. It is responsible for organizational performance and competitive advantage.
Companies use a variety of tools for recruitment and selection to do this. These include assessments of the psychological profiles of candidates using dynamic, interviews, and competency assessments.
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It is believed that selection processes in this manner can be too costly, time-consuming, and overly complicated. This is why many companies are suffering. Optimizing resources, which is the ability to achieve maximum performance while investing minimal resources, is another key factor in competitive advantage.
Social networks are another powerful tool. They allow organizations to communicate with participants and recruit talent. A company can choose to join existing social networks, or create new ones. Some organizations also encourage competitions through the Internet, by posting problems and rewarding the best solutions.
Additionally, recruitment and selection do not happen only "from the outside", but also through in-house promotions. These promotions promote the relocation of employees who are already working for the company. This ensures that their skills can be used in a different function to reduce costs.
If the goal of an organization is to lower costs, however, it makes sense to make use of technologies such as the Internet and social media. This is done in collaboration with business partners who are familiar with the role of the company in setting corporate competition and reallocating their talents. To attract and retain these professionals, another solution would be to give them all the conditions necessary for their career development.