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Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned

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Don't just play the existing Talent Acquisition game better; Change the Game!

Don't just play the existing Talent Acquisition game better; Change the Game!

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  • Reasons for Worker Shortage in U.S.: Birth rates below replacement in “developed” economies Large segment of population at or near retirement Increased skill requirements
  • Reasons for Worker Shortage in U.S.: Birth rates below replacement in “developed” economies Large segment of population at or near retirement Increased skill requirements
  • Reasons for Worker Shortage in U.S.: Birth rates below replacement in “developed” economies Large segment of population at or near retirement Increased skill requirements
  • Reasons for Worker Shortage in U.S.: Birth rates below replacement in “developed” economies Large segment of population at or near retirement Increased skill requirements
  • Reasons for Worker Shortage in U.S.: Birth rates below replacement in “developed” economies Large segment of population at or near retirement Increased skill requirements
  • Reasons for Worker Shortage in U.S.: Birth rates below replacement in “developed” economies Large segment of population at or near retirement Increased skill requirements

Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned Presentation Transcript

      • Kennedy Sourcing Summit 2008:
      • Strategic Sourcing: Revisited, Defined, and Game-Planned.
      • -------------------------------------------------------
      • Joshua Letourneau
      • Managing Director
      • LG & Assoc Search / Talent Strategy
  • Today’s Discussion
    • If Only We Could Slow Down . . . We Could See The Subtle Shifts In Play Around Us!
    • Agenda in Brief:
    • Sourcing Vs. Strategic Sourcing
    • 6-Step Process to “Change the Game”
    • Relevant Examples
  • Help Me Answer An Easy Question . . .
    • So, What is Sourcing?
    • “ Candidate sourcing activity typically ends once the name, job title, job function and contact information for the potential candidate is determined by the candidate sourcer.” (From Wikipedia 11/1/08)
    • Primary: Phone Secondary: Internet
    • http://www.youtube.com/watch?v=sW-PHukzdgM
  • Ok, So What Is Strategic Sourcing?
    • ???
    • Define Strategic :
    • “ A strategy is a long term plan of action designed to achieve a particular goal, most often "winning". Strategy is differentiated from tactics or immediate actions with resources at hand . . .
    • . . . by its nature of being extensively premeditated , and often practically rehearsed.”
  • Recalling SourceCon 2007
    • “ Model Sourcing Organization” is asked by audience member:
    • Q: “How Do You Decide Where Sourcing Will Make the Most Impact?”
    • A: “Honestly, We Source Where There Is The Most ‘Heat from Hiring Managers’.
    • --------------------------------------------------------
    • Q: “What Metrics Do You Use To Define Sourcing Success?”
    • A: “Growth, or # of New People, Added to the Database.”
  • Now, Is That Strategic?
    • Like Most Americans Who Are Overfed On Carbohydrates and Underfed on Protein . . .
    • We’re overfed on Tactics and Underfed on Strategy!
  • Observation From “The Fringe”
    • I don’t know about all of you, but from where I’m standing, it sure seems as if demand is being fueled in terms of Sourcing Efficiency ( more names in less time for less cost ) . . .
  • Let’s Pause For A Moment
    • Current Recruiting Visualizations Reflect Assembly Lines and Funnel Systems
    • Insight: People Don’t Like Feeling of Being Treated As Inanimate Objects On An Assembly Line!
  • Observation From “The Fringe“ (Cont.)
    • Focus Seems To Be On Sourcing Efficiency Instead of Talent Acquisition Effectivness.
    • Hiring More Great People In Less Time For Less Cost* . . . at Higher Day-1 Excitement/Engagement Levels than the Competition!
  • Let’s Keep Our Eyes On The Ball!
    • Metrics are outstanding Health Indicators . . . And hold value as a result.
    • However, the mechanistic mindset of process improvement often promotes a focus on the Output instead of the Outcome .
    • ---------------------------------------------------------
    • “ The whole visible world is as if it were a machine in which there was nothing at all to consider except the figures and motions of its parts.”
  • Visiting the Notion of Process Improvement
    • Most Companies Focus On What They’re Already Doing Pretty Well!
    • Incremental Quality Improvements
    • Modest Production Efficiencies
    • And lose their ability to think ( imagine ) outside the box .
  • Today: Knowledge Workers / Tacit = Complex Interactions
    • Fyi:
  • Today: Knowledge Workers / Tacit = Complex Interactions
    • In contrast to transformations and transactions, which can be mapped and codified . . .
    • Tacit interactions depend on complex mixtures of judgment, problem-solving and information exchanges , often involving group behavior that is difficult to replicate .
    • However, to get the most from workers involved in tacit interactions, managers must abandon much of what they think they know about strategy, organization and information technology.
    • James Manyika (May 2006)
    • McKinsey Quarterly Writer (May 2006)
  • Today: Knowledge Workers / Tacit = Complex Interactions
    • :
  • How Can Your Company Change The Game???
    • Identify What Roles Within Your Organization Are Most Critical to Creating or Preserving Competitive Advantage.
    • Talent Strategy Begins with Organizational Strategy
    • - *** Where Does Your Strategy Require Talent That Is Better Than Your Competitors? ***
    • --------------------------------------------------------------
    • Strategy Points To Review: (Including, but not limited to)
      • Key Differentiators?
      • Value Proposition?
      • Brand Essence?
  • How Can Your Company Change The Game???
    • Disneyland Vs. Cedar Point Park
    Disneyland Cedar Point Key Differentiator Disney Characters Roller Coasters Value Proposition “ Happiest Place on Earth” “ Roller Coaster Capital of the World” Brand Essence Fantasy Thrills Top Website Feature 0% Disney Vacation Financing Blog/Discussion Page for Roller Coaster Fans
  • How Can Your Company Change The Game???
    • Identifying Critical Talent Through Your Financials
    • - What SBUs’ Compromise the Majority of Revenue &/Or Growth?
    • What Product Lines Comprise the Majority of Revenue &/Or Growth?
    • What Customer Segments Comprise the Majority of Rev &/Or Growth?
    • - What Is Your Per-Employee EBITDA? (“Operating Cash Flow”)
    • = [Revenue – (Cost of Sales + Operating Expenses)]
  • SBU Revenue & Growth TreeMap (Size = Rev / Color = Growth)
  • SBU EBITDA Per Employee TreeMap (Size = Rev / Color = Growth)
  • How Can Your Company Change The Game???
    • 2. Identify What Roles Within Your Organization Are Most Pivotal .
    • - Where are Your Pivot Points, or “Areas with significant deviation between low performers and high performers?
    • Hint: Start with your critical roles (or most important SBUs’) and work backward.
  • Do You Have Access to A Product Portfolio Map?
    • Example: GE McKinsey Matrix
    • If you do, it will contain many valuable insights to help you identify ‘Sourcing Targets of Opportunity’ (plus this will impress and gain buy-in of Mktg & Finance Leaders, to say the least.)
  • Understanding Pivotal Talent
  • How Can Your Company Change The Game???
    • Multi-Functional Facilities Manager (Electrical & Equipment Maintenance)
      • 2 Engineers
        • Electrical Engineer & Software Engineer
      • 6 Supervisors
        • High-Voltage: 2
        • Controls: 18
        • Outside Buildings: 14
        • Electrical Maintenance: 15
        • Construction: 12
        • Graveyard + Swing-Shift: 5 + 7
  • How Can Your Company Change The Game???
    • Critical Talent Segment = High-Voltage Supervisor
      • “ If I lose power to the facility, I have to send 7000 employees home . . . And that would be a real bad day.”
    • Pivotal Talent Segment = Janitors
      • “ Because the President of the facility knows that squeaky clean = a higher Wall-Street multiple when the Analysts visit.”
  • How Can Your Company Change The Game???
    • Key Insight – Decision Theory
    • Embrace the Notion that There is a Logical and Financial Justification for Increasing Our Investment Geared at Identifying, Attracting, Engaging, and Hiring . . .
    • “ Critical ” Talent
    • AND
    • “ Pivotal ” Talent
  • How Can Your Company Change The Game???
    • 3. Dive Into Your Data and Evaluate COH Across All Roles.
    • - The Marketing Discipline has provided us the tools we need to perform this type of evaluation:
  • How Can Your Company Change The Game???
    • Where Is The “Bleeding” Occurring? . . .
  • How Can Your Company Change The Game???
    • Key Insight: How Are We Trending?
  • How Can Your Company Change The Game???
    • 4. Map Your Roles On a Talent Segmentation Matrix.
    • Hints:
    • Graph ‘Importance to Organization’ on the X-Axis
      • (Scale 1-10)
    • Graph ‘Difficulty to Identify/Engage/Close on Y-Axis
      • (Scale 1-10)
    • Make Size of Bubble = Relative Size of Internal Talent Pool
  • How Can Your Company Change The Game???
  • How Can Your Company Change The Game???
    • Talent Segmentation Matrix Leads Us Key Questions:
    • Where Are Our Purple Squirrels?
    • Do We Have Purple Squirrels That Are Non-Critical?
    • Where Is Our Executive Search Spend Occurring?
    • (Is This Spend Justified?)
    • * Insight : We Can Make a STRONG Case for Increasing Investments In the Upper Right (and Sometimes Upper Left Quadrant).
  • How Can Your Company Change The Game???
    • 5. Apply Portfolio Theory To Your Talent Acquisition Efforts.
  • How Can Your Company Change The Game???
    • Portfolio Theory Expands Our Thinking and Moves Toward a Decision Science:
    • Insight: Portfolio Theory involves viewing each Talent Pool investment in mutually exclusive fashion .
      • Goals:
      • Reduce COH Where Feasible
      • Reduce TTF Where Feasible
      • Increase QOH
  • How Can Your Company Change The Game???
    • 6. Implement Strategic Sourcing Element.
    • “ Special Operations” Mindset
    • This Element should focus on Plays of significant strategic value :
        • Proactive Talent Pipelining
        • Competitive Intelligence
        • Psychographics Research
  • How Can Your Company Change The Game???
    • Proactive Talent Pipelining Drives Competitive Advantage
    • - Creating Competitor Lists & Identifying Similar Roles
    • - Identifying HiPo Profiles & “Lateral Fits”
    • - Building Relationships with Competitive Talent
    • - Identifying/Attracting/Engaging Talent Proactively
    • Increases QOH and Reduces TTF . . .
    • While Increasing Hiring Manager Satisfaction (HM_Sat)
  • How Can Your Company Change The Game???
    • Proactive Talent Pipelining Visual (By Competitor)
  • How Can Your Company Change The Game???
    • Proactive Talent Pipelining Visual (By Location)
  • How Can Your Company Change The Game???
    • Proactive Talent Pipelining Visual (SNA – Recruiter/Sourcer)
  • How Can Your Company Change The Game???
    • Proactive Talent Pipelining Visual (SNA – Derek)
  • How Can Your Company Change The Game???
    • Brief Detour - Psychographics (Adjective Cloud)
  • TA Innovation’s Ultimate Embodiment
    • Let’s Play Out a Scenario:
    • *The process of dividing the total market into smaller sections based on shared characteristics.
  • TA Innovation’s Ultimate Embodiment
    • Let’s Play Out a Scenario:
  • TA Innovation’s Ultimate Embodiment
    • *
  • TA Innovation’s Ultimate Embodiment
    • Red-5 Studios (IPod Strategy)
    • Hand-Picked 100 Dream Candidates (Hiring Target: 5)
    • Studied their Backgrounds/Interests through Their Social Networks and Blogs
    • Mailed iPods in Pyschographics-Driven Packaging
    • CEO Left a Personalized Message
    • Result: 90 Replies / 3 Immediate Hires
  • Conclusion: Take Your First Step Today!
    • Big Companies fear that they are too slow and not agile enough to compete with “The Little Guys”.
    • - “The Wolves Coming Up the Hill Might Be Hungrier, But the Wolf On Top of the Mountain Always Eats.”
    • Little Companies fear they can’t compete because they don’t have the capital and resources of “The Big Guys.”
    • - Suggested that with the proper tactics, the smaller/weaker unit could gain strength while weakening the larger/stronger unit.
    • *** Confucious: “A Journey of a Thousand Miles Begins With a Single Step.” ***