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Maximizing the Value of Your Talent Network
 

Maximizing the Value of Your Talent Network

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    Maximizing the Value of Your Talent Network Maximizing the Value of Your Talent Network Presentation Transcript

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