Human Capital Management
Human capital management (HCM) sees employees as capital, meaning that by investing in employees, organizations can grow their capital in the future.
It helps shape the organization by building a plan to develop the workforce and practices needed to meet an organization’s vision, mission, and goals. Organizations in many cases look for people with a good amount of experience or professional competency to join the organization.
They may not be able to post the job vacancy directly due to the maintenance of confidentiality. Further, they may not want to be dependent on the job boards, or on people seeking out employment. Headhunting is suitable in these cases. Thus, we see that Headhunting works on a certain time frame to find the top management executives as the organization demands.
Head Hunting and Recruitment
All headhunting is recruitment, but all recruitment is not headhunting.
Headhunting is a process of recruitment of a prospective employee, who is working elsewhere and who has relevant work experience for a particular job profile. Headhunting is one of the most effective methods for sourcing & getting candidates for top positions, who might not necessarily look for a job change.
While Recruitment is the well-known base for Human resource management Recruitment process is a process of identifying the job vacancy, analyzing the job requirements, reviewing applications, screening, shortlisting, and selecting the right candidate. It`s the first step in creating a powerful resource base.
You Need Head hunting because
1. Certain positions/designations lying vacant and no qualified candidates,
2. When You are looking for specific niche skills(competencies) and don’t want to waste your time placing ads where unworthy candidates would apply for,
3. When a specified position is rather confidential, and you don’t want to list it publicly on the market,
for example strategic roles, a position that requires making tactical decisions.