Maximizing the Value of Your Talent Network

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Maximizing the Value of Your Talent Network

  1. 1. Maximizing the Valueof Your TalentNetwork –Next GenerationReferral Programs<br />Colorado Talent Recruitment Network<br />Denver, Colorado<br />August 24, 2011<br />Presented by:<br />Master Burnett, Managing Director<br />Dr. John Sullivan & Associates<br />
  2. 2. The growth of referral programs<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />2<br />
  3. 3. Widespread adoption<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />3<br />Source: CareerXroads Colloquium, 9/2010<br />
  4. 4. Program formality<br />n=267<br />n=40<br />n=252<br />n=45<br />n=41<br />Source: DJS ERP Benchmark Study (Formerly AIRS/DJS)<br />
  5. 5. External hires<br />Source: DJS ERP Benchmark Study (Formerly AIRS/DJS)<br />
  6. 6. A faulty assumption…<br />69% of the time is actually looks like this…<br />6<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />
  7. 7. Experts at using other people’s time (OPT)<br />The Percentage of Hires They Achieve<br />47%<br />62%<br />56%<br />82%<br />51%<br />71%<br />63%<br />78%<br />49%<br />56%<br />57%<br />45%<br />7<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />
  8. 8. The business case<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />8<br />
  9. 9. Candidate knowledge<br />Source: DJS ERP Participant Experience Study<br />
  10. 10. Real QoHmeasurement is rare<br />Source: DJS ERP Benchmark Study (Formerly AIRS/DJS)<br />
  11. 11. ERP versus Job Boards<br />Source: DJS Private Client Study, 2008<br />
  12. 12. Referral hire ratio<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />12<br />Top Performing ERP<br />3:1<br />Average ERP<br />10:1<br />All Sources<br />18:1<br />
  13. 13. Diversity (do your assumptions carry out)<br />Employee Referrals<br />Source: CareerXroads SOH, 3/2011<br />13<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />
  14. 14. The practices that make the difference<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />14<br />
  15. 15. Going beyond the generic<br />Recommended referral programs<br />Social referral programs<br />Partner referral programs<br />Executive referral programs<br />Internal referral programs<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />15<br />Referral is an approach that can be applied <br />to accomplish many different goals<br />
  16. 16. A clearly established goal/charter<br />Why are you leveraging referrals?<br />OPT; Huge requisition loads, fragmented pools<br />Who do you need to participate?<br />Who can/will influence?<br />What do you need other’s to do?<br />Your needs versus their ad hoc actions<br />What will it take to trigger/sustain action?<br />Experience!<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />16<br />
  17. 17. Comfort with prioritization<br />Source: DJS ERP Participant Experience Study<br />
  18. 18. An infrastructure to execute<br />Dedicated management (needs fluctuate)<br />Dedicated resources (fast response, expectations)<br />Transparent process (POLICY)<br />Program communications<br />Administration<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />18<br />
  19. 19. When infrastructure fails (most often)<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />19<br />
  20. 20. Program marketing<br />Awareness is horrible (>21%)<br />Variable messaging (campaigns)<br />Variable channels (3+)<br />Exponential marketing model<br />Group centric, sharable content<br />Keep it top of mind (recruiting culture)<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />20<br />
  21. 21. Frequency of communication<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />21<br />
  22. 22. The social referral program<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />22<br />
  23. 23. Exponential marketing<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />23<br />Modular content<br />Extensible<br />Easy to excerpt<br />Reach<br />Impression<br />Engagement<br />Propagation<br />Cycle<br />Multimedia<br />Multi-channel<br />Multi-stakeholder<br />Repository<br />Manually post<br />Auto-syndicate<br />
  24. 24. Great ERP results rarely just happen!<br />Source: DJS ERP Participant Experience Study<br />
  25. 25. Driver based rewards & recognition<br />Understand the motivations<br />Not the money!<br />Non-Employee participants<br />Make it time relevant<br />Campaign tied<br />Reward desired activity<br />Referrals, leads, interviews, repeat activity, etc.<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />25<br />
  26. 26. Understand the motivation<br />Source: DJS ERP Participant Experience Study<br />
  27. 27. The money doesn’t matter<br />Source: DJS ERP Benchmark Study (Formerly AIRS/DJS), 2008/2009<br />
  28. 28. Comfort with variable rewards<br />Source: DJS ERP Participant Experience Study<br />
  29. 29. Questions and follow up<br />Maximizing the Value of Your Talent Network, ©2011 Master Burnett, @masterburnett<br />29<br />mburnett@drjohnsullivan.com or master.burnett@gmail.com<br />masterburnett<br />@masterburnett<br />master.burnett<br />www.slideshare.net/mburnett/<br />

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