Although related, talent management and talent acquisition are two distinct concepts that play complementary roles in building a skilled and engaged workforce. That said, these two variations differ in their focus and scope, despite both being integral to an organization's overall talent strategy.
Talent acquisition refers specifically to the process of recruiting and acquiring talent for an organization. It encompasses all the activities involved in sourcing, screening, interviewing, hiring, and onboarding candidates. The goal of talent acquisition is to identify and attract qualified individuals who possess the skills, experience, and potential required for specific roles within the organization. Talent acquisition ensures that the right individuals are brought into the organization, but its scope is primarily limited to the initial stages of the employee lifecycle, up until onboarding is complete.
On the other hand, talent management goes beyond talent acquisition and deals with engagement and development throughout the entire employee lifecycle—from hire to retire. Talent management focuses on maximizing the potential of employees and creating an environment where they can flourish.