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  • Mike … The reason being is there is an existing finite data set or tests can be performed on something static; social media creates daily streams of new data (e.g. social data) and thus it changes all the time. Opportunity exists in recruitment and hr to analyze constantly changing social data stream.
  • Mike … The reason being is there is an existing finite data set or tests can be performed on something static; social media creates daily streams of new data (e.g. social data) and thus it changes all the time. Opportunity exists in recruitment and hr to analyze constantly changing social data stream.
  • Mike
  • Mike
  • Mike … The reason being is there is an existing finite data set or tests can be performed on something static; social media creates daily streams of new data (e.g. social data) and thus it changes all the time. Opportunity exists in recruitment and hr to analyze constantly changing social data stream.
  • Mike … The reason being is there is an existing finite data set or tests can be performed on something static; social media creates daily streams of new data (e.g. social data) and thus it changes all the time. Opportunity exists in recruitment and hr to analyze constantly changing social data stream.
  • Mike … The reason being is there is an existing finite data set or tests can be performed on something static; social media creates daily streams of new data (e.g. social data) and thus it changes all the time. Opportunity exists in recruitment and hr to analyze constantly changing social data stream.

04102014 login 2014 presentation  - beygelman 04102014 login 2014 presentation - beygelman Presentation Transcript

  • 1 Gain actionable insights from job-seeking behaviors of the global workforce Predictive Analytics for HR and Recruitment™ 11 April, 2014
  • Introduction 2 Michael Beygelman CEO, Joberate • Global president of recruitment process outsourcing (RPO) business for Adecco Group (called Pontoon) • Executive director of HR Services and Technology Association (used to be called HROA) • COO of Careerbay, a recruitment technology startup – merged with JWG Associates and sold to TMP Worldwide in 2001 • 18 years of experience in HR and Recruitment field, working with startups, private companies, and global public companies
  • About our company Our mission is to help society better understand job-seeking behaviors of the global workforce, one human being at a time • Machine learning technology platform based on web services (and API) predicts changes in people’s job-seeking activities, their causality, timing, locations, etc. • Companies gain actionable insights by tapping the digital footprint of the global workforce, to help companies reduce employee attrition, help with workforce planning and talent attraction 3
  • Interesting parallel: CBS hit show Person of Interest 4 Governments use Big Data in national security
  • What is Big Data? • Not looking for a needle in a haystack (that’s easy) - Looking for a unique piece of hay in hundreds of millions of haystacks • Differs from tradition data in three main ways (three V’s): - Volume - Velocity - Variety 5
  • Predictive Analytics increase the value of HR 6 Predictive Analytics • Predictive models (i.e. credit score, life events) • Probability of events and/or their timing Data Analysis • Statistical analysis, and relational models • Understanding cause and effect Dynamic Reporting • Aggregate view of data sources • Benchmarking or validation (Traditional) Reporting • Measure results • Efficiency, compliance • What is happening now? • Why did it happen? • What happened? • What can happen?
  • Best (non-HR) example of a Predictive Analytic 7
  • Big Data (in context of HR) is in the news • A lot of interest in leveraging Big Data • Predictive Analytics are an evolution from traditional data analysis • In context of HR and Recruitment, the possibilities are limitless 8
  • Areas in which Predictive Analytics can help HR Most industry solutions focus on new applicants and existing employees • Assessment: mindset, skillset, cultural fit • Development of job descriptions - Ideal personality in context of target job - High potentials, leadership development • Potential behaviors • Team development and alignment • Understanding job-seeking behaviors 9
  • Big Data is also a popular topic for making jokes 10 Only kidding
  • I think      11Big Data has become a disruptor for HR I know Investment Flow A constantly evolving data stream that is “external” to current HR systems has tremendous potential (current state) (future state) HCM: Human Capital Management
  • Companies need to track external people data 12 Age of corporate dominance Age of knowledge workers Attractpeopletofollowyou Startfollowinginterestingpeople Cultural shift has created demand for HR tech to help companies make this critical transition
  • The Predictive Analytics lifecycle 13 Complements of the SAS Institute
  • One practical example of how “predictive” works • Input, import, or connect to engine via API (batch or real time) • Minimum 2 data points are required Person’s information • Validates the person of interest using paid data sources • Tracks up to 6,000 data points, including social data Machine learning engine • Feed existing HR applications with data via API (or Widget) • Use our analytics portal (SaaS portal also has light CRM features) Display predictive analytics 14 Using Joberate technology as an example
  • A simplified example of an analytic (in HR context) • Based on internal historic data (e.g. known data) • Often built on relational models • Batch oriented nature (e.g. produces results at time of report) 15
  • A simplified example of a Predictive Analytic 16
  • Valuable questions answered by Predictive Analytics • The following answers, and more, can be obtained about a person, a group of people, or cross- referenced with other data, to show relationships or trends. - How likely is someone to succeed in a given role? A specific workgroup? A specific culture? - How likely is someone to leave their current jobs, and when? - Matching potential job-seekers to suitable job openings. - Which company is a person likely to be interested in working for? - Within a company, what is the potential talent gap (exposure) for a specific position or department or location? - What is potential economic (cost) exposure for a company as a result of attrition? - How likely is someone to become an active job seeker? - Which candidates should recruiters contact first, when, how? - What geography is the person likely going to look for work in? - JScore™ - a new FICO-like score that is an indicator of a person’s suitability for a given context 17
  • About the market • According to LLR Partners and Bersin by Deloitte, HCM technology market is $11B-$14B, only 11% of employers have reached maturity, leaving a huge opportunity for investment • Time magazine estimates companies lose $350B a year on employee attrition • More than 70% of the workforce would entertain a conversation about a new job, leaving companies exposed to risk of attrition • Companies spend over $150B on corporate recruiting (advertising, search, interviewing, assessment, employment branding, etc.) according to Forbes magazine, which in itself represents a huge market • According to the Talent Board, average number of applicants per position increased from 85 in 2012, to 205 applicants in 2013, costing companies Billions • Joberate’s predictive analytics solve high-value business problems: - Retain valuable employees - Predict future workforce needs 18 - Save time and cut recruitment costs - Competitive advantage for talent
  • HCM Tech Startups Grab $600M, 208 Deals in 2013 19 Source: CBInsights Portfolio of VC backed firms (+24.6%) outperforms NASDAQ (+15.6%)
  • Huge market, red hot, and predicted to grow • Several big name deals have been done recently - Oracle buys Taleo for 1.9B USD - IBM acquires Kenexa for 1.3B USD - SAP acquired SuccessFactors for 3.7B USD • But the below deals have been done just in the past two months - SAP acquires Fieldglass - WorkDay acquires Identified - LinkedIn acquires Bright - Monster acquires TalentBin - Monster acquires Gozaik - Monster acquired Talent Fusion - Yahoo acquires Vizify - CareerBuilder acquires BroadBean 20
  • 21 Michael Beygelman, CEO [m] +1 617 304 6509 [e] michael@joberate.com [t] @beygelman