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The War for Talent 2. 0 January 29, 2014
Irma Long, Director of Global Talent Acquisition § § § 20 years of experience in human resources and talent acquisition § ACCO Brands Con. Agra Foods, RR Donnelley, Northern Trust and Budget Rent a Car A true student of Talent Acquisition, always educating herself on new developments and innovating her own new staffing methodologies. Irma has architected numerous full life cycle staffing models and systems including § Employment Branding § Social Media development, and § RPO Management. Irma is a frequent guest speaker for the Marcus Evans Group and has presented at various forums and roundtables. Her most notable accomplishments involve the development of a “how to resource guide” for staffing professionals, which she hopes to publish. Irma has a BS in Business Administration and Economics from St. Joseph College. She also holds an MA in Human Resources from De. Paul and has completed two years course work towards a Ph. D program.
Jack Downing, Managing Partner § § § Founder of World. Bridge Partners, A Global Executive Search Firm with offices throughout the Western Hemisphere and Europe § Successfully completed over 1000 searches Founder of World. Concert, the Recruitment Process Outsourcing division of World. Bridge Partners Quoted in WSJ, Business Week, MSNBC, Chicago Tribune, LA Times, Chicago Sun Times, and IT World Magazine MBA Northwestern University's Kellogg School of Management, BA Loras College President Staffing Management Association of Greater Chicago Board Member of KC Clean Technology Hedge Fund, R 3 Biofuels, Big Brothers Big Sisters of Metropolitan Chicago (Past Chair), Gift of Adoption
US Workforce 142 Million Workers US spent $130 Billion last year on recruiting $6 Trillion on payroll
Past Decades 1990’s Low Supply, High Demand 2000’s Structural Unemployment Musical Chairs Skills Gap § Unemployment high of 7. 8% and low 3. 8% § Knowledge Worker high 3. 8% and low 1. 8% § 16 M net new jobs created in the 90’s § Unemployment high of 10% low 4. 4% • Knowledge Worker high of 5. 1% low of 1. 8% • Net loss of 2. 5 M Jobs – Lowest decade of job creation since the depression Percentages highlighted in red for comparison purposes
The Impact on Talent Acquisition Growth Periods • Scramble to Scale • Reactionary • Budget too small Recession Periods • Scramble to Scale • Reactionary • Budget cuts
2014 Resembles Both Decades Supply Demand Issue § Unemployment of 6. 7% § Right in the middle § Knowledge Worker 3. 3% § One-tenth of a point higher 1990’s Federal Reserve Bank estimates: § 25 M College Grad enter Workforce by 2020 § 54 M total jobs (34 replacement and 20 new) by 2020 § 20 M Net new jobs vs. 16 M Net new jobs of the 90’s
2014 Best/Worst of Both Decades Hourglass Demographics and Structural Unemployment § 75% of today’s workforce are either under 27 or over 54 (Hour Glass Workforce) § Projected leadership void from 55 M boomers retiring over the next generation and the trailing supply is 35 M Gen X’ers § Demand for skilled labor projected to be 20 M net new jobs to be by 2020 vs. 16 M of the 90’s and the -2. 5 last decade National Recruitment Averages are Trending Upward § Cost/Hire up 6% in 2012 & 10% in 2013 § Time to hire has increased over 10 Days § Similar trends with increases in sign-on bonuses and relocation packages
The Opportunity Disguised Hiding in Plain Sight § Career. Builder Survey - § 21% of employees plan to change jobs in 2014 § Mc. Kinsey Research Predicts a shortage 30 to 40 million college educated § Shortage of key skills § Harvard Business Review § People are the New Bottom Line § Deloitte’s Talent Edge 2020 § Emergence of the “Corporate Talent System”
Talent Acquisition Tactics and Strategies
Talent Acquisition Strategy Companies need a proactive, high touch, high volume, and candidate friendly talent acquisition model that can flex with inconsistent hiring patterns, allowing for economies of scale, and incorporating best practices. “Win the War on Talent…. One Battle at a Time”
Key Components of TAS People Process Technology Desired result “Win these Three Battles: Win the War!”
Two Workforces “Yours and Everyone Else’s” § External Factors – Out of your control § The Economy § Demographics of your industry § Talent Intelligence § Internal Factors - What you can control § Brand - How you represent yourself to the market § People, Process and Technology
A Process in Six Steps 1) Requisition Management § Written job description § Work backwards from the ideal profile § What will they do in the job to grow your company and themselves? § All key stakeholders agree on what qualifications are critical § “Must haves” “Like to haves” & “Knock outs” § Video capabilities § Understand the external factors § Realistic expectations
Process Continued 2) Sourcing Strategy Developed § § § Employee Referral Program, Postings – Compelling Posting Written Job Boards: Monster, Career Builder, Ladders, Linked. In, Dice Social Media Inside or Outside Recruiters Employment Brand Developed and/or Utilized § Clear, consistent message every time § Employee Value Proposition highlighted § Consistent message delivered every time
Process Continued 3) Interviews § How many? Should be equal to the level of the position § Who, what and when? § Assessments? § Behavioral based interviewing questions § Interview Guides § 50% qualifying 50% selling § Key stakeholders all agree on the “must haves” 4) Candidates Documented § EEOC and OFCCP Compliance § Build pipeline for future
Process Continued 5) Offer Management § Engaging and complete offer letter § References § Background investigation(s) § Drug Testing 6) On-Boarding New Employee § Announcement to all employees § Personal welcome from President § Orientation into culture § Paperwork completed/equipment in place § Reconfirmation of expectations/ Job Description § Overview of the first 90 days § Find them and introduce them to a mentor
Sample Process Map – Large Company Process design customized for each client…some components are optional. Hiring Forecasts § Review forecasting, planning & diversity initiatives § § End-to-End Requisition and Candidate Management Approve Requisition Online Submit Requisition Develop short- and longterm strategic action plans § Hiring Manager Submits Job Requisition online § § § Consultative review with Hiring Manager Determine compensation § Review needs, sourcing approach, communication strategy Review job description Contact Hiring Manager to confirm receipt Develop Sourcing Strategy Candidate Assessments § Candidate Pre-Screening § § § Facilitate assessments based on core competencies of position as need arises Interview and Selection § § § Job Posting and Resume Management Review candidates § Conduct interviews Select top viable candidates § Job Requisition Wrap-up Offer Coordination Present slates to Hiring Managers Facilitate interviewing schedules § § § Employment terms confirmed § Extend verbal offer Confirmation of hiring decision with HR § Hiring Manager determine Candidate for interviews & hiring § Create Offer letters and employment paperwork § Ensure completion of post hire activities Ensure documentation of selection/non-selection comments Direct Hiring Manager to document results Facilitate search for candidates Communicate status and timeframes with Hiring Manager On Boarding and Assimilation § § Coordinate orientation Provide assignment assimilation
Process Map – Small Company Candidate Funnel Pool = All resumes found/forwarded § All resumes reviewed to match job requirements Assessed = Qualified § Telephone screens utilized to validate match § Qualifications defined based on client requirements, sometimes utilizing 3 rd party tools: – Multiple interview types – Skills testing – Other personality assessments Phone Prescreened = Validation of qualifications, interest and availability Qualified = Evaluate for interview recommendation § Diversity programs blended to ensure fair process § Stack ranked slate of three-to-five qualified candidates provided to hiring manager Interviews = Hiring manager & boss § Final offer facilitated based on hiring manager & leadership team selection § Final background check and on boarding as required HIRE = MAKE AN OFFER
The Right Technology is a Competitive Advantage Feature EEOC and OFCCP Applicant Tracking Job, Social Media Posting Resumes stored in one place Data captured Process embedded Internet Browser, Mobile Use (i. Pad, Smartphone. . . ) Auto reply to applicants Benefit Legal Compliance Pipeline Building One post efficiencies Future search capabilities Employee Referral Program Metrics for measurements Track best source of candidate flow Whole team on same page Universal accessibility Candidate friendly Video Interviewing Streamline processes Virtual Career Fairs Reach larger audience
Track Results, Assess and Improve Data and Metrics § EEOC & OFCCP Compliant § Sourcing Effectiveness § Cost-per-Hire § Time-to-Fill Business Impacts § Reduced Turnover § Reduced Absenteeism § Increased Productivity § Candidate Satisfaction § Increased Sales § Interview to Hire § Increased Profitability § Build pipeline of candidates § Positions filled faster
The Right Employees Makes all the Difference § § § Job Description Creation Ad Posting The Candidate Experience Monitor and Improve Processes Create Talent Intelligence for Informed Decisions § Tactical decisions § When to adjust compensation or skills § Relocation, sign-on bonuses § Strategic decisions § Build, buy or blend § Right size functional departments “Executive Sponsor of Talent Acquisition is Key”
The right employees understands quality/quantity of time Admin istrati v Repor e Activities ting, S : chedu Applicant T ling, M 2 to 6. eeting racking & 75 Ho s etc. urs Pe r Job Offer & Hire Hiring Manager Interviews & Relationship Management Phone Pre-Screening Candidate Sourcing • 50 to 100 Ad Responses are reviewed • 100 -200 Passive candidates are proactively sourced 7 Hours Per Job Recruiters typically phone screen 25 candidates to find 5 -7 Qualified candidates to send to Hiring Managers • 6 Qualified Candidates – 1 st Interview 1 Candidate is hired within 63 days (Avg) 54 to 58. 75 • 3 Finalist Candidates – 2 nd Interview 20 Hours Per Job 25 Hours Per Job Total Hours To Fill Each Open Position
Best Practices 1. Diversity Initiatives 2. Employee Referral Program 3. Technology – Data - Analytics 4. Hiring Manager Management 5. Assessments 6. On-Boarding 7. Rethink Innovate Focus
1. Diversity Initiatives Employee Referrals Offer Incentives, Recognition & Rewards Employment Brand Mentorship Programs Best Practices Veteran and Military Programs External Diverse Professionals, Organizations & Communities: Establish College Relationships
2. Employee Referral Programs 1. Make it easy 2. Give priority to employee referrals 3. Utilize social media – Facebook 4. Consider internal referrals 5. Move fast 6. Create incentives 7. Recruitment is everyone’s responsibility
3. Technology - Friend, Foe, or Distraction 1. Utilize then Standardize 2. Social Media 3. Mobile Recruiting 4. Online Communities 5. Videos 6. Track & Analyze
3. Technology - Social Media Landscape 2013 Do we need to fully utilize Social Media?
3. Technology Utilize technology & bring best practices to the forefront. Video interviewing to assess “best fit candidates” via recordings is just the beginning. Virtual Career Fair • • • LIVE VIDEO INTERVIEWS RECORDED VIDEO INTERVIEWS CANDIDATE VIDEO LIBRARY • • • LOW COST TIME SAVINGS HIGHER SUCCESS RATE
4. Hiring Manager Management Setting realistic expectations • The Demographics –Set the table with talent intelligence • How many Flavorists § Sourcing Strategy Developed § Calibration Meeting § Cadence for Updates § Marketplace information shared
4. Rethink Be innovative use technology to showcase the importance of Talent Acquisition Interview team
4. Hiring Manager Management Develop an Internal Interview Guide § Provides a consistent framework for everyone § Candidates § Interviewers § Develop comprehensive questions for telephone, 1 st interview and 2 nd interviews in advance. § Create an evaluation grading system
5. Assessment Tools Tests consistently yield strong ROI Distinctive Impacts 15% increase in profit § § Litigation rates drop dramatically § Increase in sales as much as 20% § Reduction in turnover § 40% reduction in complaints § Millions saved per year in injury-related cost savings § Thousands saved in selection and training costs Source AON Hewitt Candidate Friendly § Supports wide range of assessment option(s); can be designed to conform to your branding guidelines. § Administrative options include: § § § paper-and-pencil On-line scoring e-testing Structured interviews Full-day assessment centers Even Smartphones
6. Create an On-boarding Program • Why? Improves success of new hire, shortens ramp-up, increases loyalty and profits • Time span normally 90 days ( could be one-to-six months) • Key Components – – Orientation Integration Evaluation Graduation
7. Focus on what you can control § Disproportionate on high return activity § Position yourself internally § Business Partner -Talent Advisor- SME § Brand - How you represent yourself to the market § EVP Beyond Taglines § Commitment to pipelines § Commitment to treating candidates like customers
What can you implement tomorrow?
Takeaways Low Cost – High Return 1. 2. 3. 4. 5. Develop your Employment Brand Create Employee Value Proposition Build templates for job descriptions Post concise & compelling advertisements Rekindle your Employee Referral Program (See Previous slides) 6. Leverage Social Media “Results in larger talent pool & higher quality of hire”
1. Employer Branding It is the essence of your organization, the sum of the parts, who you are, what you stand for, your culture and image as an employer. It's not just a tagline on your career site - it's an immensely powerful message that should be real and promoted both internally and externally.
Employment Branding Analysis of current environment - Define your Talent Mgmt strategy - Match them company goals - Do the match - Internal focus groups - Other workforce perceptions Analysis Measure Develop Message - The message has to be real - Work with internal marketing - Cross Check message Measure Impact - New response rate vs. old - Candidate Experience - Offers accepted
2. Employee Value Proposition EVP is the “what’s in it for them” within the Employment Brand • Depicts 3 C’s • Culture • Career Path • Compensation How they relate to • Department Goals • External Marketplace • Current Economic Conditions Employment Brand Engineering EVP Human Resources EVP Sales Department EVP
Employment Brand Employee Value Propositions
3. Job Description Creation XYZ Company Job Description Operations Manager Requirements: 10 years of managing a high volume commercial printing production environment. Change agent who is creative and implements ideas that improves safety and productivity Must know technology: electronic pre-media, wide-web presses, selective binding, inkjet addressing and robotic packaging and distribution Experience working in a non-union multi-shift production facility. Detail oriented, team oriented. Bachelors Degree required Lean manufacturing and/or Magazine and Catalog manufacturing a plus. Benefits include: Competitive salary plus bonus. Full Healthcare Benefits plus 401 K plan.
3. Job Description Creation Company Position Profile THE COMPANY For over 50 years, this Company proudly serves America’s premier magazine publishers KEY PERFORMANCE OBJECTIVES Lead, develop, and mentor 10 hardworking direct reports comprised of managers and supervisors. Reduce overall cost per press impression by 3% annually. Exceed customer quality expectations by reducing # complaints, which is now measured at. 2 per million magazines/catalogs produced. LEADERSHIP This position reports directly the Production Director. He has been with Company for 14 years XXXX reports directly to XXXXX, Vice President/General Manager. During his 14 year tenure he has been promoted 4 times. Additionally 7 of the last 10 direct reports have been promoted and all are still with the company. WHY this Company? Why this position? We are in top 15 of Greatest Companies to work of in State of Illinois Stable Private Company with revenue over ½ billion in sales Open door relationship with President and CEO Control your own destiny…. your ideas are valued, heard and implemented! COMPENSATION AND BENEFITS Generous base salary $100 -105 K plus bonus (average bonus paid last year was nearly $20, 000). Full healthcare benefits
4. Posts Ads that Work Concise and compelling Clear concise, compelling job descriptions receive more applicants. Make sure it is read, by only stressing the most important facts so that a candidate will be engaged enough to actual read the entire post. Win the candidate over Remember, this is an advertisement, and not an internal posting. You want, you need to attract the right candidates with the right skills that fit your company culture. Focus more on what they will do vs. they must have Promote the employment brand After you introduce the company description, describe what your company does, how good they do it and what it is like to work at your company. Transparent It is important to be transparent when advertising for candidates. Being open in your job ad with the good and the bad accurate will develop a higher level of trust with a potential co-worker and improve upon your overall employment brand. No surprises is a good motto.
6. Pick one platform at a time ü ü ü ü ü Linked. In Facebook Glass Door You. Tube Twitter Mobile Phones Blog Bookmarks QR Codes And more…
Open Forum Questions?
Feel Free to Touch Base: Jack Downing 230 West Monroe Street Suite 830 Chicago, IL 60606 (312) 348 -1305 [email protected] com