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using technology to hire better, faster, more cost effectively.

using technology to hire better, faster, more cost effectively.

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E hiring exceptionaltalent E hiring exceptionaltalent Presentation Transcript

  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent The Business Case White Paper NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White Paper TABLE OF CONTENTS 2 Introduction 4 Change traditional mindset 6 Leverage your identity 7 Seize new opportunities 8 Enhance applicant experience 10 Switch to proactive mode 11 Measure it, manage it 12 In a nutshell 15 Return on investment 17 Quantifiable benefits 20 Unquantifiable benefit costs 28 Real life examples< PREVIOUS NEXT > Click here to download print version
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperHiring exceptional talent is a key goal for every business leader. This is expressed in different ways:• Hiring better people than our competitors• Hiring the best that is available in the market• Hiring the best quality we can affordIntroductionTraditionally, recruitment departments appointed agencies, placed newspaper and job have adapted their approach, adopted new technologies and therefore haveboard adverts, and that did the job, albeit at a high price and relatively slow pace. attracted the best recruiters, who in turn are attracting the best talent.The problem is that this no longer delivers the desired results. With many The following summarises the key aspects of the new approach and the benefits ofcompetitors doing the same thing, there is no differentiator for any one employer. the latest technology, to show how companies can hire better quality talent and doCandidates have also changed their behaviour in how they look for jobs accessing it faster than before.the wealth of information available on the internet. The final section demonstrates how this can be achieved at a lower cost to theTo stay ahead, businesses must continually adapt to change and this is no different business – what is called a win-win.for the recruitment function. The companies that are winning in the talent game< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperChange traditional mind-setToday, a successful recruitment department is like a marketing and sales operation Quality candidates expect more as they have a wider range of job opportunities.rather than a traditional CV-processing unit. CEOs and HR Directors are realising For them, employers of choice are the ones that provide relevant information,that recruitment departments are strategic business units that need to attract, communicate effectively and have swift recruitment cycles.communicate and sell opportunities to candidates. To be an employer of choice, you first need to leverage your identity and create aOrganisations need to take a step back and look at recruitment from the strong career brand.perspective of a candidate. We’ve all been a candidate at some point in time andknow how we wanted to be treated. "Today, a successful recruitment department is like a marketing and sales operation rather than a traditional CV-processing unit."< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperLeverage your identityCreating a strong brand name in the market should not be restricted to the This is to “sell” your company and create a desire in interested candidates to workproducts or services you offer. It should be extended to your career offerings to for you. It is especially important when trying to attract expatriates who may knowleverage your identity and differentiate yourself from the competition. Organisations little about the company, or even the country.with strong career brands are successfully attracting more of the right applicants. To ensure an excellent candidate experience, a career portal should also provideA career portal is the most visible way of developing your career brand. Initial self-service sections, online interview booking, private access for select candidates,impression of a potential employer comes from a visit to its career portal and helps job agents for speculative vacancies and onboarding for newly recruited candidates,build a direct relationship with the candidate. to name a few.Such a portal informs visitors about job vacancies, the company’s triumphs, future With a good career portal in place, an organisation can take advantage of bothplans, career opportunities, personal growth potential, training, bonus schemes and traditional and new candidate sourcing opportunities to maximise applicantspecial programmes. awareness. "Organisations with strong career brands are successfully attracting more of the right applicants."< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperSeize new opportunitiesThe way job seekers search for jobs is changing rapidly. Today, the second most Once a corporate career portal is in place, detailed information about the job, andwidely known use of the World Wide Web is for job search. There are now the skills and experience required, are available online. This provides marketingthousands of online job boards – some covering geographic areas, others specific departments with an excellent opportunity to use job adverts to focus on sellingindustries – that generate good applicants. Recruiters are also taking advantage of the company brand and entice applicants to find the details online and learn aboutforums and blogs to push potential candidates to their career portals. them as a potential employer. This career brand building exercise ensures top candidates apply to you first.With careful management, regional and global search engines can drive substantialtraffic to your career portal. Internet aside, the Intranet too is used to create These new methods in conjunction with traditional recruiting methods reach outawareness amongst existing staff about new career opportunities. This generates to a wider audience, generating quality applicants in larger numbers. Modernemployee referrals, helps retain existing talent by allowing them to grow and solutions then quickly identify the most suitable candidates saving recruiters’ time.reduces staff turnover.As no one recruitment source is necessarily better than another, everythingfrom newspapers and recruitment agencies to job boards and blogs arepowerful hiring tools.To capture the best talent you need to: "With careful management, regional and global1. Be able to use any or all of the available recruitment channels search engines can drive substantial traffic to your2. Have tools to evaluate which are best for specific vacancy types or geographies career portal."< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperEnhance applicant experienceHow many times do you hear “I sent my CV and then never heard from them The entire process from capturing a good candidate’s initial interest to effectivelyagain” or “By the time they contacted me I already had another job”. managing him through to a conclusion is important to create the right impression. Impersonal adverts urging CVs to be emailed to recruitment@abccompany.comCompanies spend huge sums of money to create awareness of their vacancies but may not attract good candidates.much of it is wasted because they do not communicate with candidates. Lack ofcommunication or sending out the wrong message can create a negative image for Also, forcing administrative work on to applicants by getting them to cut and pastethe company, as for many businesses, applicants are also potential customers. bits of their CVs into tiny boxes online, negatively impacts a company’s chances of hiring the best candidate. The process should be quick, simple and relevant to theThanks to leading edge systems, personalized communication is now easy, vacancy.quick and if effectively done, makes the company standout. In addition, a smartmarketing department sees applicant communication as another good opportunityto deliver the corporate message. "By the time they contacted me, I already had another job."< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperSwitch to proactive mode Measure it, manage itLeading organisations are embracing technology to manage the increase in Like it is with most business processes, to better manage your recruitment cycle,sourcing opportunities and the benefits of a career portal. you must first be able to measure it. A good recruitment platform allows you to do just that and helps you find answers to hundreds of questions such as:Such technology allows multiple recruitment sources such as job boards, blogsand recruitment agencies to be integrated into a single platform. The recruitment 1. Which marketing channel is most cost effective?platform captures all applicant details, automatically rejects unqualified 2. Are job boards producing better results than newspapers?candidates and helps an organisation create its own powerful, private talent 3. Which agencies deliver the best hire rate per 100 candidates?pool. 4. Which countries produce the best applicants in a particular industry? 5. What is the average time-to-hire for sales, finance, IT, marketing, etc.?Organisations thus become proactive by equipping itself to quickly respond to line 6. What is the average cost-to-hire by division, job type, and geography?managers needs for new hires, swiftly fill future job opportunities, recommend 7. What is the frequency of qualified candidates applying for a job?good finds to department heads and maximise the cost of previous job adverts. 8. What are the main reasons for refusal of job offers by qualified candidates? "Technology allows multiple recruitment sources such as job boards, blogs and recruitment agencies to be integrated into a single platform."< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperIn a nutshellRecruiting the right talent has not only become more difficult, it is also more • Opening up to multiple recruitment sourcescomplex. Recruiters today have to comprehend not just thousands of applications, • Building a continual talent poolbut also many job types, sourcing channels, vertical job websites, global • Measuring performance, to enable process improvementrecruitment suppliers, geographic regions and multiple recruitment teams. • Embracing today’s technology to enable all of the above.To win the war for talent, corporate heads should lead the way by: Today’s HR division has the power to drive business growth, provided it is empowered• Enforcing a market driven approach to recruitment with the right set of tools to enable the approach that job seekers now demand.• Creating a strong career brand• Treating candidates like customers "The system’s reduced our annual advertising budget by 25-30%, and has made our recruiter efficiency sky-rocket." - Gulf Air< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperReturn on investmentAs with all business process improvement projects, a good ROI case needs to be presented. For most organisations,the ROI from the adoption of a good recruitment system is overwhelming. It often provides quantifiable paybackwithin a few months.When compiling the ROI, a common problem is the lack of hard information on the Usually the quantifiable benefits alone are enough to prove the value of thecurrent hiring performance and costs, which of course is partially due to the fact project. The others are a bonus. Each case only differs depending on howthat there is no system in place. For many CEOs/CFOs having the ability to measure companies recruited their staff prior to the modern system, and the size of theperformance is a key part of the justification for the adoption of a solution. organisation.The majority of ROI cases contain two elements: The examples that follow are based on the case for a typical SME with less than• Quantifiable Benefits 1,000 employees.• Unquantifiable Opportunity Costs "Today’s Human Resources division has the power to drive business growth."< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperQuantifiable benefitsAGENCY FEEIncreasingly, both candidates and organisations value a more direct hiring model Another area for cost saving is the avoidance of paying unnecessary agencyand a good recruitment platform is the way to successfully enable this. fees. Due to the difficulty of tracking thousands of candidates, companies are occasionally paying agency fees for people that have in-fact already applied toDirect hires through the corporate career portal and Employee Referral Programs them directly.alone can help large organisations achieve a reduction in agency fees by at least20% per annum in the first 2 years. Example: Two such cases per annumExample:Five middle/senior positions filled directly Saving = US$30,000 per annumAverage agency fee US$ 15,000 per placementSaving = US$ 75,000 per annum "We have gone from using 220 recruitment agencies to zero."- Al-Futtaim< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperQuantifiable benefitsNEWSPAPER ADVERTISING RECRUITER EFFICIENCYNewspapers are the most expensive form of candidate sourcing second to With a manual or semi-manual hiring process, corporate recruiters spend aagencies, especially major international publications. significant proportion of their time on administration. This results in recruiting additional staff to meet hiring targets.The cost effective options available with a recruitment platform can reduce or eveneliminate this cost. Example: With a manual process, 2 additional team members will be required.Example: Average monthly cost US$ 3,500Average cost per advert US$ 4,000Reduction per annum 4 Savings = US$ 84,000 per annumSaving = US$ 16,000 per annum "Just four direct hires helped us save US$300,000 in recruitment expenditure."- Banque Saudi Fransi< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperQuantifiable benefitsELIMINATE HIRING MISTAKES PRODUCTIVE RECRUITMENT TRIPSThe majority of hiring mistakes happen because stressed recruiters are always Due to the difficulty and time restraints for reviewing candidates in a manualrunning short of time. A lengthy hiring process means that by the time an offer environment, many recruitment trips do not deliver the desired results. With agoes out, the best candidate has already found employment elsewhere. Calculating smart solution, recruiters can ensure they only meet qualified candidates, increasingthe full cost is difficult, so the minimum cost can be used. the chances of hiring, and reducing the number of trips and the number of people on each trip.Assumptions:Hiring mistakes occur 3 times a year Example:Average cost to re-recruit each person US$6,000 Two people making two unsuccessful one week trips per yearBusiness lost opportunity cost per person US$6,000 Expenses per trip US$ 6,000 Cost of time per trip US$ 4,000Saving = US$ 36,000 per annum Saving = US$ 20,000 per annum "We wanted a customer service approach to recruitment. In academics, we might not recruit you for this semester but we could recruit you for the next."- UOWD< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White Paper Potential Annual Savings Taking into account all the stats mentioned thus, the annual saving works out to US$261,000 and even 50% of this amount is significant. For a company 10 times the size, the potential saving is anywhere between US$1.3M and US$2.6M! This may be enough to provide a good ROI, but of course the much of the real benefit is in the opportunity cost.< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperUnquantifiable opportunity costsSAY NO TO LOST OPPORTUNITY NO MORE MISSED OPPORTUNITIESWhile the lost opportunity cost is the most significant aspect of the ROI case, it is Those undiscovered golden nuggets of talent due to lack of time to read andoften difficult to calculate a specific value. evaluate thousands of CVs. This is a criminal waste, and one that is entirely avoidable.The two key areas of savings come from:1. Reduction in the time to fill vacancies and therefore additional EMPLOYEE REFERRALS SOLUTION business productivity Employee referral programs not only offer significant savings on advertising and2. Overall improvement in the quality of people hired and therefore agency fees, they are also shown to provide better quality candidates who are likely additional business productivity to be retained for a longer period.The greatest cost to any business is not having the right people in place when Few companies take advantage of their employees, but having a good solutionneeded. that encourages, authenticates and tracks referrals will deliver improved quality at a greatly reduced cost. "99% of unsuitable applicants no longer get through to the interview stage." - Gulf Air< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperUnquantifiable opportunity costsRETENTION OF TALENT career advancement opportunities, training and benefits, the reasons for theirA good hiring solution also provides the ability to promote opportunities to internal success, why you should consider them as your next career move. Then you applycandidates. Retaining even one good member of staff means avoiding significant and get an email and an SMS within 20 minutes thanking you for taking the time.costs to the business including: A day later you get a phone call, and so on...• Recruitment Replacements This is especially important for businesses where every candidate is not only a• Induction & Training potential employee, but a potential customer as well. To get a sense of current career• Lost Opportunity & Productivity to get a replacement in place and up-to-speed brand and candidate experience, CEOs should try applying to their own companies.IMPROVED CORPORATE IMAGE & CAREER BRANDPicture this. As your first interaction with a potential employer, you visit their careerportal. It has all the information you need about how the company functions, "Our average time-to-hire (job offer) has come down from 60 days to 22 days" - Al-Futtaim< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperUnquantifiable opportunity costsTALENT POOL OF QUALIFIED CANDIDATES • The time-to-hire by business unit/division/company/recruiter/vacancyAfter a few months of operation, a good hiring platform provides corporate • Bottlenecks in the hiring processrecruiters with a pool of qualified talent to mine for future vacancies. Clearly, anycandidate that is hired from this pool means a very significant reduction in the This information helps to identify the potential cost savings, and the best practicetime-to-hire and there are no additional sourcing costs. approach that can be applied across the enterprise. “If you can measure it, you can manage it,” and this is a fact no business head can ignore.REAL TIME MISBeing able to track and report on every aspect of the hiring process provides BETTER RECRUITERSnumerous benefits such as having the ability to: HR Directors should also factor in that these days top recruiters are far more likely• Identify suppliers that deliver best candidates and value for money to be attracted to a company that has a proper automated hiring solution.• The cost-per-hire by business unit/division/company/vacancy There is a cost to losing good recruiters, and failing to attract good replacements. "We have reduced our recruitment expenditure by 37.5% in the first year alone."- BSF< PREVIOUS NEXT >
  • Changing the way the Middle East recruitswww.hiringsolutions.com Hiring Exceptional Talent White PaperReal life examplesJUMEIRAH M. A. ALSHAYA CO.Why the project? Why the project?The lack of a specialised recruitment system was slowing Jumeirah’s growth and With 20,000 employees and massive expansion plans in the pipeline, Alshaya hadincreasing the recruitment expenditure. This pushed the hospitality leader to find to bring the cost of recruitment down, speed up the process as well as build aa solution that not only fixed its problems but ensured the group functioned as a talent pool that could support the growth plans.single entity when hiring. The ResultsThe Results Sniperhire was implemented in 2 months and to date, Alshaya has receivedIn just the first 6 months, Jumeirah saved over US$ 160,000 in recruitment costs 323,000 applications from their career portal which have generated over 1,400and got approximately 10,000 professionals registered in its database for future direct hires without agency costs.opportunities. They achieved a positive ROI on their system within just four months of implementation and have now reduced recruitment costs by 75%.< PREVIOUS Click here to download print version