An Introduction to Strategic Talent Sourcing
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  • 1. An Introduction to Strategic Talent Sourcing Matt Best | Regional Program Manager
  • 2. © Talent2 Pty Ltd 2011 What Challenges Did the Client Face?  They found there was a greater demand for local Asian talent in tandem with a backlog of roles with niche skill- sets which were not freely available in the market  The firms internal succession plans for key roles were extremely thin and they lacked bench-strength in key areas  The client’s desire to have strength in depth in key areas meant they were faced with looking externally for talent as there were no internal candidates available to fill these gaps  They risked loss of revenue and productivity by not being able to replace key talent in their organization in a proactive manner. Their current recruiting model for strategic hires was far too reactive and event based  In many cases when the client hired they only met with the those candidates ‘on the market’ and they did not get a realistic view of those candidates which are the very best ‘in the market’. This meant they were missing out on strategic game-changers when hiring  They understood that all firms were in effect fishing from the same talent pools for key hires. This meant the client would need to be more strategic, persuasive and hands-on in their approach to these talent pools if they wanted to be successful. They could not afford to leave key strategic hiring to chance
  • 3. © Talent2 Pty Ltd 2011 How Did We Want To Answer Those Challenges?  They needed to strengthen their our own strategic understanding of the talent market in key areas  Seek out, track and build rapport with key talents in all of their markets and across all businesses  Assess these talents and build their own proprietary talent-maps  Hire from these talent-maps in a more proactive and strategic manner  They needed to build a robust regional recruiting program for the ‘next generation’ of emerging Asian talent  Developing a best in class graduate intake processes  Graduates would then be used to fill short-falls in niche skill-sets which cannot be found in the market  By owning their own talent agenda and keeping the recruiting intelligence and mapping in-house it was felt that the client would have a much better understanding on who the best talents in the market were and would be better positioned in their quest to achieve excellent hires  By implementing this model the client would be gaining a distinct competitive advantage over their competitors and would be able to position their careers offerings ahead of the pack
  • 4. © Talent2 Pty Ltd 2011  The Strategic Talent Sourcing team aims to provide support to the client’s strategic business and HR objectives  This is a strategic sourcing model that will complement the current recruitment model now and into the future by focusing on targeting, engaging, tracking, assessing and eventually acquiring future leadership talent for the firm.  The Strategic Talent Sourcing team will focus on the delivery of directly sourced talent for critical strategic and future leadership roles, as well as developing pipelines of engaged talent which we can then be used to strengthen the organization at a future date  The team will focus on key strategic level external hires which require a high-touch approach.  The team will also develop a program to embed the next generation of emerging talent into the organization via a complimentary graduate and internship program which the client will run in consultation with Talent2 Introducing the Strategic Talent Sourcing Model
  • 5. © Talent2 Pty Ltd 2011  We provide a high touch, consultative and advisory approach to critical future talent hires and workforce planning  We give an in depth view of the available talents in the market, including; a forensic assessment of the individuals interviewed based on the clients success profiles, ranking talents with research in order of suitability and fit  We deliver a comprehensive search of the market covering both passive and active job-seekers. The team builds rapport with these passive talents and then continuously tracks and checks in with key talent in the market in order to keep this data and competency assessments relevant and fresh  A team of dedicated recruiting specialists aligned 100 percent to the clients business strategies and talent agenda. All the members of the team have a proven track record of delivering a ‘best in class’ search experience both in- house and within agencies  We are a ‘one stop shop’ approach to strategic hiring, we reduce the need to have multiple discussions within the matrix on a particular hire or desired strategy wherever it may sit in the region  We provide monthly and quarterly market intelligence reports – highlighting available talents based on the teams ongoing research, as well as market news covering competitor analysis What to Expect from Strategic Talent Sourcing
  • 6. The Difference Between Talent Mapping and Recruiting - The Double Funnel Concept # The Hiring Stage: Recruitment Process with Job Description and Headcount Rank Order: Mapping Reports Quantify: Candidates Scored and Ranked Defined Criteria: Talent Gap with a Success Profile # Strategic Research: Talent Mapping to Projected Future Workforce Plans or Skill Gaps Recruit to a specific job description using traditional process
  • 7. © Talent2 Pty Ltd 2011 The Talent Qualification Process - Talent Mapping Process Set-up Research / Mapping Talent Evaluation Refresh Data • Engagement of key stakeholders • Confirm priorities, talent gaps or specialisations Build Toolkit: • Success Profiles • Mapping reports • Candidate reports • Research to ’success profiles’ • Development of pipeline and maps • Reporting using success profile criteria as a benchmark • Feedback from stakeholders on mapping reports • Ongoing research phase • Talent is qualified for fit against success profiles • Team directs and highlights talent to stakeholders • Talent pools are analysed in comparison to workforce plans • Ongoing management of identified talent • Refresh and update of data, maps and reports • Checking in with talents & keeping warm Refresh Data Set-up Research / Mapping Talent Evaluation Talent Mapping Standard recruitment process commences Formal selection process begins as job rec is raised and headcount is confirmed
  • 8. © Talent2 Pty Ltd 2011 Some Food for Thought  A recent survey of a Sales Directors group listed on LinkedIn indicated that 83% of their fully-employed members were unlikely to even consider switching jobs unless directly contacted by a recruiter or through an employee they’ve worked with closely in the past  From a recruiting strategy standpoint, the idea is to find candidates before they actively enter the job market. But to do this, you need a different process for sourcing and recruiting these talents  It has long been known that great recruiting functions are proactive and forward looking. Leading firms will begin mapping top talent working at their competitors. They will also use professional communities and continuous employee referrals to develop a talent pool of pre- qualified top candidates for key jobs  Leading firms will begin a steady shift away from recruiting “actives” (currently 60% –90% of all candidate submissions for roles) and toward the direct sourcing of “currently employed top talent” using social media channels and social-media-driven employee referrals.
  • 9. Why Passive Candidates are Important to the Strategic Talent Sourcing team
  • 10. © Talent2 Pty Ltd 2011 Benefits to the Client in using the Strategic Talent Sourcing Team’s Services  The Strategic Talent Sourcing team is dedicated exclusively to the client’s business interests. The team is seamlessly aligned to their strategic talent planning efforts and their appetite to hire the very best talent  The client needs to find the very best candidates in the market and not just those on the market at any given time. There is a big difference between the two, with passive job seekers generally being the highest performers in their field. Hiring the very best candidates in the market should be their ultimate aim every time. They cannot compromise on talent so why leave it to chance  By using a direct in-house sourcing model all of the team’s market intelligence, relationships, talent maps and candidate knowledge becomes the client’s proprietary data . They own it all..  Whilst headhunting directly the team will build up rapport and relationships directly with the marketplace and will soak up market intelligence because of this. This intelligence may be useful information for the business and can then be used to their advantage. We become their eyes and ears..  The team is set up to be a ‘one stop shop’ for critical talent hiring. Each search will be handled by a dedicated Search Consultant and they will own the search assignment in its entirety throughout the lifecycle of the search, reducing the need for multiple conversations on a particular search  All of the team’s KPI’s are aligned to filling 100 percent of all assignments undertaken, meaning they are truly dedicated to getting the job done
  • 11. © Talent2 Pty Ltd 2011 Strategic Talent Sourcing – Value Model
  • 12. © Talent2 Pty Ltd 2011 Thank you