What we will discuss today • Reality today • Why retention is still important • Why good retention starts with good recruiting • Recruiting tips that can help you with retention • Share some stories, tools and ideas
Reality today Not a lot of good news about hiring today Uncertainty 20 year high unemployment rate HR is overloaded Significant budget cuts Overwhelming volume of candidates HR programs STILL being cut or put on hold Some desperation – “candidates telling you anything”
It Should Be Easy Unemployment rate is still high Graduating seniors from the face the worst job market since the early 1980s; perhaps the worst since the Great Depression for new college graduates What is the problem? With so many people on the market, is there a need for recruiting today? Source: NACE
The elephant in the room… “If so many people are out of work, and there are lots of people available, why talk about retention?”
What a Simple Recession CanChange2008 Today Apply my strengths to stimulating A Job work Job challenge and learning (Opportunity To be needed for advancement) To learn and grow Autonomy To work with other great/smart Climate of respect and trust people Work life “fit” (not balance anymore) An ethical/fair workplace Economic (Job)security Job location Source: NACE High starting salary
Think about… The best job you ever had/best boss The worst job you ever had/worst boss Your best or worst recruiting experience as a candidate
What does this mean torecruiting? “People leave managers, not companies.” - The Gallup Organization
The war for talent is heatingup again, are you ready? • Hiring top talent is STILL a strategic advantage • We are quickly becoming an ‘ultra high-tech’ economy • The “War” is really about a growing skills shortage • 62% of US jobs are high pay/high skill, requiring 97 million people, of which we have 45 million qualified people • The recession changed some plans short term, let the fun begin again! Source: DOL
What’s important to candidatestoday… This well-traveled, well-educated, ethnically diverse and technology savvy generation, expects: work that is fun and meaningful:
What’s important to candidatestoday… A job A workplace with opportunity to advance quickly A secure employer that fills their insurance needs and provides the prospect of steady compensation An employer they can trust not to make them confront their personal ethics (for the sake of the job) Source: NACE
Adapt to change andgenerational differences “An Era of Change” Are You Changing With The Times? Technology Savvy Generation - Social Networking (Facebook, LinkedIn, Twitter) vs. job boards and newspaper ads - Texting – 76% Text - 97% Own A Computer, 94% Own A Cell Phone Generation Y/The Starbucks Generation - Overall Balance - Social Responsibility - Self Fulfillment - Personal Growth - Rewards
Honest employment branding The “promise of an experience” Tell the real story Position yourself as an employer-of-choice Ethical business practices, job security, friendly co-workers and location (NACE Survey) “The neighborhood barbeque” Refresh Employee Referral Program and streamline administrative process Did you do the layoffs right? Treat people like people? The internet changed everything - “Google them” Its not about a fancy brochure and give aways anymore
Tip Recruiter Selection Training and Development
You want the best, start withhiring talent SKILL PERFORMANCE A B INVESTMENT OVER TIME Source: Talent+
Recruiter selection,training and development Hire the right recruiters Not everyone makes a good recruiter Human Resources discipline vs. recruiting Recruiting is sales Recruiting training required Invest in high potentials
Hire the right recruiters Create your Recruiter competencies based on The AIRS Recruiting Competency Model Drive for Results Inquisitiveness Sales and Service Orientation Relationship Builder Assess Core Recruiting Performance Flexibility Profile and Plan Skills Traits Passion Source and Contact Present and Close Executive Search and Partnership Competencies Market Intelligence Business Savvy Organizational Management Candidate Management Network Building
Are we hiring talent today? Percent of senior managers who strongly agree that their company: 19% Brings in highly talented people 8% Retains almost all their high performers McKinsey’s “War for Talent” research (12,860 respondents)
“Good retention starts fromhiring the right person tobegin with.”
Candidate Assessments -predicting performance Motivation Cultural Fit Abilities Engagement Personality ExperienceKnowledge & Performance Judgment Skills
You make a difference, really… You Impact: The business The culture Your company’s future One hire at a time
The Selection FunnelAssessmentPhone Interview Interview TALENT
How do you know? The “right person” has more to do with character traits and innate abilities than specific knowledge, background, or skills. Jim Collins “Good To Great”
The candidate experienceBest in class candidate experiences: Treat candidates like “rock stars” Be honest – “lifestyle is our biggest issue” Celebrate the offer Post offer “WOW” Follow up Why you didnt get the job Candidate surveys work
Candidate Surveys Three Surveys Category of Questions Candidates hired Recruiting process Candidate not hired Pre-interview arrangements Candidates who On-site interviews declined the offer Overall process Offer process Decision to accept position Career decisions
On-boarding On-boarding starts from point of contact – not first day on the job The candidate “WOW” The offer The post offer “silent period” The first day Think retention all the time A smooth application process Sponsors
“The Total Package” Candidates still want: - Enjoying work - Opportunity for advancement - Good insurance (US) - Competitive starting salary Conduct annual wage, salary and communication surveys Communicate what you find out Right Pay – Top performers know they can go anywhere Is this changing with the current economic challenges?
Opportunity Your employees between the age of 22- 27 will change jobs every 18 months. 75 million Millennials entering today’s workforce Internal transfer/promotion process Succession planning/internal pipeline Career pathing (even before they start) Career development plans Invest in top performers Executive coaching and mentoring
Measure what you do What you don’t measure, you can’t improve on Measure what is important - To the business - To recruiting - Source and process effectiveness Look at what’s working, what’s not working Are you hiring the “right” people and are they staying?
Planning for Recovery Most employers are unprepared for what’s next (We hope what is next is recovery). The recovery will bring a new set of challenges for employers. We will need more skilled workers or will need now to begin to upskill their current staffs, including HR. Are you communicating constantly and paying attention to the survivors?
“An Era of Change”….Our world moves fast, are you ready for what’snext?Technology is moving at the speed of light – who knowswhat someone is creating right now that will change ourway of working next week. Keep learning, growing, askingquestions.
Summary Adapt to change and generational differences Maintain honest employment branding Support competency-based recruiter selection/training and development Hold out for talent and candidate fit Create a “WOW” candidate experience Practice good on-boarding from point of contact Provide a desirable total job package Create real opportunities for advancement Measure what you do Think retention all the time, especially now
Q&A Diana M. Meisenhelter Riviera Advisors, Inc. Dallas, Texas USA Diana@RivieraAdvisors.com Phone: 972-307-5637 Thank you