Talent Acquisition in 2010

Emerging Talent Acquisition Trends for 2010 Action Steps For “Leading Edge” Recruiting Managers and Recruiters ere.net Webinar - January 13, 2009 © Dr. John Sullivan Professor, Author and Advisor to Management www.drjohnsullivan.com

I have four goals for this webinar 1. To give you some insight into what is likely to happen during 2010 2. To provide you with some advanced action steps to consider 3. To make you think 4. To answer your questions (Please feel free to submit them throughout the webinar using the Q&A Module) 2

Topics that I will cover today: 1. A quick snapshot of my predictions for 2010 2. How to predict the turnaround at your organization 3. The first step is to become “more businesslike” 4. Plans for handling “the churn” during 2010 5. The return of intense competition for talent 6. Prioritizing recruiting tools 7. Benchmark firms to learn from 3

I. A quick snapshot of my predictions for 2010 Description of last year – Continually bad Description of this year – Churn, with a mixture of ups and downs 4

My predictions for 2010 Mixed news – the recession will be officially over by March, but business confidence and risk-taking will not return immediately Prepare with – an industry and internal analysis looking for precursors that indicate when “your” turnaround should begin --- Good news – a mid-year start of the turnaround (beginning of the end for freezes) Prepare with – a new business case proving the $ impact on revenues of delaying hiring Prepare with – a ramp up recruiting plan to revitalize the recruiting function 5

My predictions for 2010 Bad news – another down cycle following a brief upturn is highly likely Bad news – the possibility of a catastrophe Prepare with – an agile recruiting plan that includes both growth and downturn elements --- Bad news – slow hiring growth and under budgeting for another year Prepare with – a plan to focus on low cost but effective recruiting tools and leveraging employees time to help in recruiting… until budgets increase 6

My predictions for 2010 Mixed news – Assume uneven growth. Some products will be exceptions, some regions will be exceptions (China, India) and some industries will be exceptions (healthcare, defense, homeland security, alternative energy, stimulus related work, mobile technologies) Prepare with – a prioritized recruiting plan that focuses on growth areas (regions, products, jobs and business units) 7

My predictions for 2010 Mixed news – technology is now capable of replacing much of what employees used to do Prepare with – a plan to offer advice on when robots, hardware and software should be considered in lieu of hiring people --- Bad news – retention will become a major issue Prepare with – a retention plan and increased hiring targets to make up for losses 8

My predictions for 2010 Bad news – housing issues will continue to make relocation difficult Prepare with – a localized recruiting strategy and “remote work” jobs 9

II. How to predict the turnaround at your firm 10

How to predict when your firm will ramp up hiring Turnarounds follow a repeating pattern Identify industry and economic precursors Identify industry first mover/leader firms Look for internal business precursors from previous turnarounds (change in sales, sales projections, production projections, inventory levels, budgets and strategic plan changes) Look for recruiting precursors from previous turnarounds (increase in OT, hiring more temps, salary increases, loosening of hiring freezes) Have a ramp-up plan ready for whenever it occurs 11

III. The first step is to become “more businesslike” in order to increase your credibility among business executives 12

Become more “businesslike” Before ramping up, executives will expect: A Failure analysis – identify what we did right and wrong last time… with plans to improve each A competitive analysis (website/new-hires) Risk analysis – calculate the risk of ramping up hiring too soon or too late (the $ value added… as a result of being the first to ramp up hiring) Other pocket costs – develop a process to identify any unintended consequences (slower time-to- market, less innovation, higher error rates, etc.) Mirror the supply-chain model – a shift towards database decision-making in recruiting 13

Become more “businesslike” Before ramping up, executives will expect: Alternatives to hiring permanent employees – be prepared to provide advice on less permanent substitutions to hiring employees including… contingent labor, outsourcing, offshoring, etc. Focus – A focus on revenue generating positions, innovators and game changers Better actionable metrics – a shift away from historical “efficiency metrics” for continuous improvement in decision-making 14

Become more “businesslike” Dollarize recruiting impacts on rev. in these areas: Revenue losses due to excess position vacancies Performance differential – the dollar value of increased performance between a top-performing new-hire and an average one $ impact of hiring innovators/game changers Cost of a bad hire that must be terminated Cost of early turnover among new-hires $ value in lost sales from dissatisfied applicants 15

IV. Plans for handling the churn Churn – the continuous adding and releasing of employees and labor capabilities 16

Seven characteristics of employee churn Employee churn means… 1. Hiring in some jobs, regions and business units… when all other hiring is frozen 2. Laying off in some business units or regions… while simultaneously hiring in others 3. Higher rates of turnover due to poaching, easy job search and reduced loyalty 4. The need to move labor internally to areas of higher return/ROI 17

Seven characteristics of employee churn Employee churn means… 5. The need to rapidly increase labor capabilities by increasing productivity, hiring contingent workers and outsourcing 6. The need to rapidly reduce labor costs by releasing contingent and regular workers and reducing flexible outsourcing 7. A sudden need to acquire new skill sets due to product innovation and skill obsolescence …when there is no time for retraining 18

Action steps for handling employee churn Develop an agile recruiting strategy  Rather than a constant approach, the strategy “flexes” as economic and business conditions go up and down  Recruiting resources are shifted periodically, rather than once a year  Recruiters have extra capabilities, so they can add value when there is little hiring (retention, outplacement, customer service, etc.) Agile Strategy Article: http://bit.ly/6DkWhB 19

Action steps for handling employee churn Develop a sophisticated contingent labor strategy Drop the “old school” non-integrated approach Set contingent goals to meet maximum up and down cycles Determine the appropriate “type of labor” for each job family (i.e. part-time, temporary, seasonal, contractors, retirees, outsourcing, etc.) Treat all “labor types” in a similar fashion, so they are integrated into the team (training, meetings, communications) Contingent Labor Management Article: http://bit.ly/5Hgdv3 20

Action steps for handling employee churn Develop a process for continuous internal movement Stop relying on slow internal job posting systems Proactively “guide” your employees and contingent workers toward areas of higher impact Develop the capacity to move both individuals and teams Reward managers for “releasing” and accepting top talent Educate everyone on future growth areas Improving Internal Movement Article: http://bit.ly/8SDtcQ 21

Action steps for handling employee churn Develop an “explode out of the box” plan Do a gap analysis between projected recruiting needs and current capabilities Assess your brand strength and negatives Identify jobs that are likely to open up first Revitalize low cost/high quality recruiting tools that leverage the time of others (employee referrals, professional events, employees active in social networks, etc.) Explode Out of the Box Recruiting Plan Article: http://bit.ly/8O02e6 22

Action steps for handling employee churn Coordinate with training and on-boarding  JIT training may be needed because many new-hires will have been underemployed or unemployed  Effective on-boarding will be required to get new hires up to speed and productivity rapidly  Re-educate hiring managers that are likely to be rusty and unaware of new recruiting tools 23

V. The return of intense competition and a shift in the “power” 24

The return of intense competition Action steps for handling intense competition Survey your talent competitor’s websites to understand where you compete head-to-head CI - Ask recent hires & candidates about the strengths/weaknesses of competitor’s rec. process Compare your job descriptions to theirs Assess the visibility of your jobs (SEO) Survey new-hires during on-boarding to identify what worked and what didn’t during the process A “blocking strategy” to protect your own 25

A shift in the power requires a new approach Action steps for handling the shift in power Shift from active candidate tools & strategies Educate hiring managers about the power shift Survey candidates to understand their current “job acceptance criteria” Improve the candidate experience Schedule interviews during off hours Utilize live remote video interviews Improve the “offer process” 26

VI. Prioritize these recruiting tools 27

Prioritize these recruiting tools Adopt direct sourcing tools – the increased visibility of almost everyone makes direct sourcing, utilizing social media and social networks, the hottest skill set (emerging tools increase feasibility) Revitalize your employee referral program – it needs to be closely integrated with your social recruiting strategy and expanded into college Boomerang re-hires – if you released a lot of good employees, an alumni network and a boomerang process should get top priority 28

Prioritize these recruiting tools Social media action steps Utilize all types of social media, not just LinkedIn, Facebook & Twitter (videos, blogs, Second Life, meetups, forums, ad words, employee reviews) Counter CIO objections Involve / leverage all employees Develop templates for profiles Identify the sources of hire (during on-boarding) ROI metrics including quality of hire 29

Prioritize these recruiting tools Utilize the mobile platform Because of the wider usage of smart phones Because it can handle any message or media Because mobile phones are almost always with the candidate I am forecasting that the mobile platform… will become the most effective messaging and communications tool in recruiting 30

Prioritize these recruiting tools More recruiting tools to follow Green recruiting must be more sophisticated On-line assessment continues to grow and improve CRM software – alternatives to ATS’s grow Intelligent decision software – allow your human resources to be managed more scientifically Contests to identify candidates or to gather external ideas Your corporate web site is probably obsolete 31

Keep an eye on these recruiting tools Over the horizon but some are already trying these Building online talent communities based on learning Crowdsourcing Utilizing credit card and financial information for sourcing Virtual simulations for assessment 100% remote hiring Personalized recruiting (individualized) 32

Other actions to consider 33

Other action steps to consider  Recruiter competencies need to be dramatically updated  Rewards for great hiring and retention for both managers and recruiters  Service-level agreements  Link performance management with hiring  Get serious about diversity hiring  Revisit college hiring (remote hiring)  Hiring recruiters from sales and marketing  Be careful of hiring out of date recruiters 34

Benchmark firms that are ahead of the curve Google  U.S. Army Microsoft  Intuit DaVita  Capital One Sodexo  Enterprise Zappos  Southwest Airlines Aimco  Booz Allen Deloitte  E&Y NY Yankees 35

Did I make you think? How about some final questions? www.drjohnsullivan.com 36

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Talent Acquisition in 2010

by Dr John Sullivan on Jan 12, 2010

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Talent Acquisition in 2010 — Presentation Transcript