Summit 2013 Keynote - Leading the Charge - Finnigan

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Make no mistake: The recruiting world is a volatile yet important place to be right now. While demand for talent surges, qualified candidates with critical skills are harder than ever to find. How will your company respond to this predicament? Jobvite CEO Dan Finnigan frankly discusses why now, more than ever, recruiters need the power of innovation to fuel their strategies—and why their futures might depend on it.

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  • http://venturebeat.com/2013/01/01/ipo-candidates/#vb-gallery:2:588154
  • Source: http://tipstrategies.com/geography-of-jobs/
  • https://www.bcgperspectives.com/content/articles/people_management_human_resources_leadership_from_capability_to_profitability/?chapter=3#chapter3_section3
  • https://www.bcgperspectives.com/content/articles/people_management_human_resources_leadership_from_capability_to_profitability/?chapter=3#chapter3_section3
  • 2012 PWC Study60% of CEOs did not believe they had the talent they needed to be successfulOne in four had to delay or forgo market opportunities and strategic initiatives because they didn’t have the right talent.Consequences of a bad hire go beyond lost opportunitiesCombined cost of unanticipated turnover are 20 – 200% of the employees original salaryCompanies with high turnover – costs are equivalent to 40% of earnings
  • http://www.bls.gov/opub/mlr/2012/01/art1full.pdf – updated dataChanges since last BLS analysis through 2018:Doctoral up from 17%Masters up from 18%Assoc down from 19%Post secondary up from 13%Highlight growth from last data setGeorgetown Center on Education and the Workforce http://cew.georgetown.edu/ http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/STEMWEBINAR.pdfTotal jobs: STEM occupations will grow from 6.8 million to 8 million total jobs by 2018. (18% growth)Job openings: STEM occupations will provide 2.4 million job openings through 2018, including 1.1 net new jobs and 1.3 replacement jobs due to retirement. Postsecondary education: 92% of STEM jobs will be for those with at least some postsecondary education and training. Equity: Diversion of women and minorities is compounded by other factors. For women and minorities, STEM is the best equal opportunity employer. Although pay gaps exist between minorities and Whites/Asians and women and men in STEM, they are smaller than in other occupations.
  • Social media, SEO, copywriting, email marketing, branding and events are all critical elements of the mix.
  • 2012 PWC Study60% of CEOs did not believe they had the talent they needed to be successfulOne in four had to delay or forgo market opportunities and strategic initiatives because they didn’t have the right talent.Consequences of a bad hire go beyond lost opportunitiesCombined cost of unanticipated turnover are 20 – 200% of the employees original salaryCompanies with high turnover – costs are equivalent to 40% of earnings
  • http://www.calculatedriskblog.com/2013/03/graphs-for-duration-of-unemployment.htmlhttp://www.bls.gov/emp/ep_chart_001.htm
  • In 2011, “Lack of available applicants/no applicants” as the most common reason for difficulty filling jobs – 24%. This jumped to 33% in 2012.
  • In 2011, “Lack of available applicants/no applicants” as the most common reason for difficulty filling jobs – 24%. This jumped to 33% in 2012.
  • 64K STEM Openings14K STEM Graduates50K STEM Shortage
  • Source:http://money.cnn.com/2010/07/29/news/international/china_engineering_grads.fortune/index.htm13% of Americans are foreign born (38 million people)…significantly greater than the 8.4% for other “rich” countriesForeign c:t rec’d 35% of doctoral degrees in US in 2006In science and tech 45%In engineering, nearly 66%½ plan to remain in the U.S.For decades, the U.S. had 25% of ALL the foreign students in the world…but in recent years has suddenly dropped to 18%, according to the Organization for Economic Co-Operation and Development.However,China is producing 400K college graduates in tech fields every year. (They will soon become the world’s largest english-speaking nation of more than 300 million.)Last spring the U.S. graduated about 8,000 Ph.D. engineers, an estimated two-thirds of whom are not U.S. citizens. About 150,000 students who majored in engineering, computer science, information technology, and math will collect bachelor's degrees. The Chinese government claims that in recent years the number in China has been well north of 500,000 and rising fast; even if overstated, as some believe, the real number is much larger than America's, and the quality of those graduates is improving.This could spiral downward. As math and science talent accumulates abroad, companies do more of their hiring there, reducing demand in the U.S. That's partly why undergraduate engineering majors are a shrinking proportion of the total, down from 6.8% to about 4.5% over the past 20 years. Employers then claim they can't find engineers in the U.S. -- so they have to hire abroad.The fastest-growing college majors in America as of 2007, says the U.S. Education Department, were parks, recreation, leisure, and fitness studies, as well as security and protective services. That's not a great omen for technology breakthroughs. If the next great technological advances in energy, the environment, medicine, and information are made elsewhere, American workers will have a much tougher time earning good pay in those key industries.
  • See arguments made in WFS generational work. Long-term demographic changes have paralleled long-term unemployment rate changes. Coincidence? Maybe, maybe not. It can certainly help to explain the shift in generational changes toward work.
  • http://www.fastcompany.com/magazine/162/average-time-spent-at-job-4-yearsForbes cites “Multiple Generations@Work” survey of 1.189 employees and 150 managers. This means millenials will hold 15-20 jobs over course of their career – NOT the 11.1 found for my generation – and the 4.4 of my father’s.
  • Social media, SEO, copywriting, email marketing, branding and events are all critical elements of the mix.
  • Most report being close to parentsMost report being in frequent technological contact with friends
  • DDI report of 2300 newly hired workers and 250 staffing directors in 28 countrieshttp://www.workforce.com/article/20130201/NEWS01/130209996/new-employees-we-were-jobbed-about-this-job
  • 83%of recruiters think branding impacts their ability to land top prospects.Strong talent brand can reduce the cost per hire by 50% and reduce turnover by 28%Source: http://www.businessweek.com/bschools/content/may2011/bs20110511_024823.htm
  • DDI report of 2300 newly hired workers and 250 staffing directors in 28 countrieshttp://www.workforce.com/article/20130201/NEWS01/130209996/new-employees-we-were-jobbed-about-this-job
  • Summit 2013 Keynote - Leading the Charge - Finnigan

    1. 1. Leading the Charge, Driving the Change:Why Innovators Will Win the War for TalentDan FinniganCEO, Jobvite
    2. 2. 8 of the 11 Top Tech IPO’s UseJobvite to Power Their HiringSource: Forbes#Jobvite13
    3. 3. 3 of the 5 Top Performing IPO’sUse Jobvite to Power TheirHiringSource: Fortune#Jobvite13
    4. 4. 13 out of 17 expectedTech IPOs in 2013Source: VentureBeat#Jobvite13
    5. 5. Geography of JobsSource: http://tipstrategies.com/geography-of-jobs/#Jobvite13
    6. 6. Unemployment Getting Better – But SlowingUnemployment rate,Seasonally adjustedNonfarm payroll employment change,Seasonally adjusted-800-600-400-2000200400600Jan-08Jun-08Nov-08Apr-09Sep-09Feb-10Jul-10Dec-10May-11Oct-11Mar-12Aug-12Jan-13Source: BLS.gov
    7. 7. Anyone Remember This?
    8. 8. Today Does Not Feel Much Better#Jobvite13
    9. 9. Tomorrow You Will Lead the Tribe!Only With Courage, A New Approach, Hard Work – and the Right Weapons!
    10. 10. Growing Awareness: Talent Matters MostSource: Boston Consulting Group, ―Realizing the Value of People Management; From Capability to Profitability‖, August 2, 2012―People‖ Companies Outperform the Market Average#Jobvite13
    11. 11. Recruiting Delivers 40% More Profit GrowthThan Next Best HR FunctionSource: Boston Consulting Group, ―Realizing the Value of People Management; From Capability to Profitability‖, August 2, 2012#Jobvite13
    12. 12. Recruiting will be one of the hot careers inthe next decade• 14% Y/Y increase• Most commonly advertised job title: RecruitingSource: Wanted Technologies#Jobvite13
    13. 13. Why?1.Business Need Skilled Talent More Than Ever2.Talent Is Becoming Increasingly Scarce Worldwide3.Talent Is Choosy, Savvy Consumer of OpportunitiesThe recruiters who transform themselves intomarketers become as important—if not more—than any function.#Jobvite13
    14. 14. Jobs In Future Require EducationSource: Bureau of Labor Statistics20%22%17%18%18%12%14%Doctoral / professional degreeMaster degreeBachelor degreeAssociate degreeSome collegeHigh schoolLess than high school% Change Employment 2010- 2020Source: Bureau of Labor Statistics#Jobvite13
    15. 15. Most Advertised Openings in U.S. Today:All But Two Require College1. Computer Occupations2. Health Diagnosing and Treating Practitioners3. Other Management Occupations (inc. HR)4. Financial Specialists5. Business Operations Specialists6. Sales Representatives, Services7. Engineers8. Information and Record Clerks *9. Advertising, Marketing, Promotions, PR, and Sales Managers10. Supervisors of Sales Workers *#Jobvite13Source: Brookings Institution
    16. 16. U.S. App Economy Jobsbefore theiPhone0 current day477kSource: TechNet, The App EconomyMobile Applications EngineeriPhone Application DeveloperSocial Media ManagerUser Experience AnalystAndroid DeveloperVirtualization ArchitectMobile Marketing StrategistiPad Game DeveloperAPI Platform Manager
    17. 17. SHRM: Companies Anticipate Needing MoreCollege GraduatesHigh school dimploma or equivalent onlySpecific post-secondary certificate/credential(s)Associate’s degreeBachelor’s degreeAdvanced degree (e.g., master’s, MBA, Ph.D, M.D.)9%63%27%28%61%11%18%69%13%56%42%2%56%1%44%IncreaseStay the sameDecreasePercentages may not total 100% due to rounding.SHRM/Achieve Survey: Changing Employee Skills and Education Requirements—Changes in the Workforce ©SHRM#Jobvite13
    18. 18. Working Age Population Shrinking WorldwideSource: Deloitte Research, UN Population Division (http://esa.un.org/unpp/)#Jobvite13
    19. 19. Creating A Serious ShortageSource: Bureau of Labor Statistics, Current Population Survery#Jobvite13
    20. 20. Battle of the Brains(US-based schools listed in blue)Source: PR Newswire#Jobvite13
    21. 21. Battle of the Brains(US-based schools listed in blue)Source: PR Newswire#Jobvite13
    22. 22. Severe Shortage Of STEM Graduates In US92Parks, recreationand fitness’98-’08%Source: SunSentinel, 2012STEM Jobs STEM Degrees50,000 Shortage inFlorida Alone64,00014,855#Jobvite13
    23. 23. engineering66%doctorates 50%plan tostaytech45%science+doctoral35%degreesSource: CNN MoneyImmigration Debate In DC• 764,321 foreign students enrolled inU.S., up 5.7% in 2011• U.S. world share dropped 25% to 18% -now up to 21%• H1B Visa capped at 85K (20K for thosewith Advanced Degrees)• Proposed Bill: Increase to 115K – 300K• New Study: No shortage of STEM?!?#Jobvite13
    24. 24. Only 29% of Applies Come From CollegeGraduates; Only 13% STEM GraduatesBachelor of Arts10%Bachelor of Science10%MBA5%Master of Science3%Master of Arts1%No Degree71%#Jobvite13
    25. 25. More Engineers Reject, Than Accept, Offers0%5%10%15%20%25%30%35%40%45%Engineering Sales Marketing Biotechnology Administrative Accounting Advertising CustomerServiceHumanResourcesBusinessDevelopment#Jobvite13
    26. 26. 10X Programmer Talent AgencySource: HBO
    27. 27. Gen Y Dominates Workforce in 5 Years02550751001251501752002251990 1995 2000 2005 2010 2015 2020 2025 2030Pre-BoomersBaby BoomersGenerationGeneration Y and beyondSOURCE: U.S. Bureau of the Census, projections based on 2000 Censuspopulationage18-64(millions)2011: The Baby Boomersreached retirement age2030: Gen X reachesretirement age2018: Gen Y makesup half of the workingage populationDan’sTurn
    28. 28. Talent as a ConsumerOne Size Does Not Fit AllEach generation approaches work differently, shaped by theeconomic, social and political forces of their time.Source: Manpower#Jobvite13
    29. 29. Gen Y And Californians Changing Jobs Every3 Years: That is 15-20 Jobs A CareerSource: www.fastcompany.com/magazine/162/average-time-spent-at-job-4-yearsmedian tenure in current job:U.S.4.4yrsCalifornians...and Millennials3.0yrs
    30. 30. Recruiting IsMarketing―The aim of marketing is toknow and understand thecustomer so well that theproduct or service fits himand sells itself.‖Peter Drucker, managementconsultant, educator, and author#Jobvite13
    31. 31. Recruiting Is Marketing:The New Five P’s of MarketingProduct: Define Broadly Around Customer ExperiencePrice: Provide Competitive ValuePromotion: ROI-tracked Marketing Mix ofMedia, Content, Message & Growing BrandPlacement: Many, Convenient and Inspiring Ways to BuyProcess: All Efforts Working As One Optimizing Funnel#Jobvite13
    32. 32. Recruiting Is MarketingProductPricePromotionPlacementProcessOld SchoolFeature-Focused Definition(Conjoint Analysis)Suggested Price Lists• Retail chains• Sales channels• Catalogs• PartnersBrand, Advertising (Radio, TV,Print), Mail, CatalogsQuarterly reports, post-mortem, new version launchesToday: OptimizationCustomer-Experience FocusedDefinitionFreemium, performance-based, loyalty programsCustomer experience within:• Retail store• E-commerce• Free-trials• Customer serviceBrand, SEO, Search EngineMarketing, Content, Socialmedia, CRMReal-time, data-driven optimizationof ―product-to-sale‖ funnelRecruitingEmployee-experienceFocused Definition of roleRequirements, perks, flexibility, benefits, compensationCandidate experience within:• Job Boards• Career Sites• Apply Process• Interview ProcessRecruitmentbrand, culture, on-linemarketing mix for jobs &careersite(s)Real-time, data-drivenoptimization of the―opening-to-hire‖ funnel
    33. 33. Marketing Starts by Understanding Your TargetLike A Marketer Would: 80 Million Gen YExercised vigorously in last 24 hours46%Saw email usage drop in 201127%Have a tattoo39%Started a business on the side35%Think helping the poor most important issue21%#Jobvite13
    34. 34. #1 and #2 Product & Pricing: Design Rolesfor Their Future, Not Just Yours1. Explain Company Vision2. Prioritize Community Service3. Develop ―In-Between‖ Steps And Titles4. Give Encouragement & Regular Feedback5. Offer More Flexibility6. Provide Education and ProfessionalDevelopment7. Give Them Time for Personal Projects7 Ways Beyond Compensation ToImprove Job Attraction• Gen Y are “Job Shoppers;” 88% arelooking to make a change• Salaries guidepost for value andstaying on track, but NOTdifferentiation• 51% of new employees hired in2012 have “buyers remorse”Source: HBR: Blog Network: What Job Candidates Really Want: Meaningful Work#Jobvite13
    35. 35. #3 Promotion: Big Brands, Especially StrongConsumer Brands, Have Big AdvantagesTop 5 of ―50 Top Employers for College Grads‖#Jobvite13
    36. 36. #3 Promotion: Gen Y Wants AuthenticBrand Experiences ―Make Your Culture Your Brand‖ – Culture Is Emotional Marketing Learning That Decisions Made By Lymbic (Lizard)Brain…Focus Messaging & Promotion On Emotional Connection Engagement Survey of Top Performers and Develop Value Statements Mold All Marketing Messaging Around Effort—Employee stories and testimonials Successful If Portrayed Culture So That Best Candidates ―Select In‖and Mismatched ―Select Out‖Source: ERE Recruiting Conference 2013 by Randall Birkwood#Jobvite13
    37. 37. Have A Company Mission That Matters…And, ItHelps To Authentically Provide Social Good#Jobvite13
    38. 38. HubSpot Mission
    39. 39. Brand: Join the Flock And Help Find Meaning#Jobvite13
    40. 40. Step Inside Kixeye…If You Have What It Takes!
    41. 41. Imagine Being In Jobvite’s Family!
    42. 42. #3 Promotion: Advertising & Distribution Track All Advertising & Distribution SEO: Jobs (and Content) Pages Careersite Distribution & Promotion Social and Employee Referral#Jobvite13
    43. 43. Applications by Source Type 2013Job Board42.4%Career Site38.2%Agency2.2%EmployeeReferral8.5%Notifications /Talent Pool1.2%Transfers1.2%Other6.2%• Career Site up by 6%• Emp Referral up by 1.3%• Transfers are significant#Jobvite13
    44. 44. Hires by Source Type 2013Job Board17.1%Career Site21.0%Agency4.7%EmployeeReferral40.4%Notifications /Talent Pool0.4%Transfers7.1%Other9.3%#Jobvite13
    45. 45. Faster hiring through employee referral 2013Source: Jobvite294539Emp Referral CareerSite Job boardsEmployees hired through employee referral arehired 55% faster than those who came through career site.46% 45%47%33%35%39%22%20%14%Over 1 year Over 2 years Over 3 yearsHired Faster Better Quality#Jobvite13
    46. 46. Half of Career site Visitors Do Not ReturnOne Time Visitors49%Return Visitors51%#Jobvite13
    47. 47. Remarketing Is The Way Marketers HandleAbandonmentBrand SiteAd on another siteCustomer #Jobvite13
    48. 48. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engagingProspect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13
    49. 49. High Bandwidth Careersite Experience#Jobvite13
    50. 50. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engaging2. Apply Process: Simple, clear, anywhereProspect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13
    51. 51. Easy To Buy – Easy To Apply
    52. 52. More On This Later Today…#Jobvite13
    53. 53. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engaging2. Apply Process: Simple, clear, anywhere3. Interview Process: Collaborative (2-way)Prospect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13
    54. 54. #4 Product Placement: 2-Way Collaboration
    55. 55. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engaging2. Apply Process: Simple, clear, anywhere3. Interview Process: Collaborative (2-way)4. Feedback: No ―black hole‖Prospect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13
    56. 56. Easy-to-See Application Status
    57. 57. 1.Funnel / Lead Generation / Marketing Automation#5 Process: All Efforts Work As OneOptimizing Funnel1. Multi-Channel Multi-Media Campaigns2. Provide Target Personalized DirectMail & Landing Pages3. Lead ScoreHot, Warm, Cold4. Marketing AutomationNext Automatic Event-Send personalized email-Send personalized product interest info-Send e-newsletter-Send personalized direct mailer-Send personalized press release-Send blog link5. Measure, Adjust, Redo
    58. 58. #5 Process: Track and Measure SourcingFunnelEmployee ReferralsCampaignsOverallTalent Pool
    59. 59. #5 Process: Can’t Afford To Advertise Overand Over…Must Build and Nurture ADatabase of Prospects#Jobvite13
    60. 60. Oakland A’s: Best Prospect Database andTalent Acquisition Funnel In Baseball#Jobvite13
    61. 61. Moneyball Year (2002): MLB Team Salaries
    62. 62. Wins Above Replacement (WAR)#Jobvite13
    63. 63. Beane Best GM:Wins Above Replacement (WAR average)#Jobvite13
    64. 64. Over a Decade of Best ROI Results#Jobvite13
    65. 65. The Marketing-Skilled Recruiters Who Target &Catch Their ―Game‖ – Will Become The NewLeaders of Future!
    66. 66. Thank youdan@jobvite.com

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