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Measuring Quality of Hire

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This was a presentation done on the Human Capital Institute network. You can find a link to the recording if you are a member.

This was a presentation done on the Human Capital Institute network. You can find a link to the recording if you are a member.

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    • 1. Technical Support Audio Difficulties: Please hang up and dial again. If this does not fix your problem, while on the call press *0 for an operator. Visual Difficulties: Please report your problem via the text chat window on the left side of your screen. A tech support specialist will help you. presents… Questions? Please contact our Member Services Team 866-538-1909 or info@humancapitalinstitute.org For Audio Please Dial 1-512-879-2021 Access Code 812571# OR Listen using VOIP through your computer speakers. Make sure your speakers are on and the volume is up. HCI is pleased to offer the downloaded slides, the archived version of this Webcast and the subsequent whitepaper to HCI Professional Members. If you are currently a Community Member, please upgrade your membership to access these features. See the reminder email from HCI on today’s Webcast for more details. Welcome! The presentation will begin shortly. Defining A Successful Hire: Developing Metrics With Key Stakeholders Wed, April 9 / 1:00 PM - 2:00 PM ET Made Possible By:
    • 2. Today’s Agenda 5 mins. – Introduction 45 mins. – Our Feature Presentation with Q&A 5 mins. – Wrap Up & Tour of Track Page Made Possible By:
    • 3. Amy Lewis Director, Talent Acquisition Community Human Capital Institute Today’s Moderator Made Possible By:
    • 4. Today’s Guest Made Possible By: Ryan Heinl Senior Consultant Development Dimensions International (DDI)
    • 5. Presented By Ryan Heinl, Senior Consultant Development Dimensions International DEFINING SUCCESSFUL HIRES BY DEVELOPING METRICS WITH KEY STAKEHOLDERS
    • 6. Agenda
      • The Profit Levers of Hiring
      • Focus Your Process on Quality
      • Reduce Your Ramp-Up Time
      • Measure the Long Term Impact
      • Q&A
    • 7. Current Staffing Scorecard
      • How many of you currently have some form of staffing scorecard in place?
      • Had it for some time now
      • Just created one
      • Still formulating what it will be
      • Haven't considered it
      Live Meeting Poll Changes directly made to this slide will not be displayed in Live Meeting. Edit this slide by selecting Properties in the Live Meeting Presentation menu.
    • 8. Measurement Myths
      • You have to wait a long time
      • Time to hire and turn are the only real metrics
      • Quality of hire is important but impossible
    • 9. The Holy Grail – Quality of Hire
      • Traditionally hard to measure
      • Focus on specific productivity metrics
      • Multiple data points
      • Simple, high impact data
      • Build it into your dashboard
    • 10. My Experience 100+ testing implementations
    • 11. Primary Stakeholders
      • Business Leaders
      • Hiring Managers
      • Candidates
      • Staffing Professionals
    • 12. Measuring Success
    • 13. Retention… The Compelling Business Case Source: 2005 DDI Selection Forecast
    • 14. The Business Case… The 3 Hiring ‘Profit’ Factors
      • Hiring Process
      • Ramp-Up
      • Productivity
      • Costs are triggered by
      • Growth
      • Turnover
    • 15. The Business Case Moving the Needle
      • Resort Industry Call Center
      • Interviewer skills training for 100 managers.
      • Reduced turnover from 35% to 20%.
      • Higher performance levels among new hires.
      • New hires fully productive in 30 days instead of 90 days.
    • 16. Hiring Process Right Person – Fast!
      • Business priorities
      • Forecast
      • Sourcing strategy
      • Define success
      • Assemble the tools
      • 1 st : Consistency
      • 2 nd : Reduce time
      SCREEN TEST INTERVIEW SIM Onboard S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S S U C C E S S P R O F I L E S
    • 17. Business Priorities and Forecast
      • Quality definition begins here
      • What’s true of all biz strategies?
      • Plan shorter, deliver just in time
        • Turn
        • Growth
      • Constant staffing strategy updates
      • Track your accuracy
        • Hiring manager feedback
        • Business leader feedback
    • 18. Talent Forecast
      • How do you respond to talent needs?
      • Recruit what is needed day to day, month to month
      • Forecast needed positions based on growth and other factors, and recruit accordingly
      • Maintain a constant pool of viable candidates for critical roles
      Live Meeting Poll Changes directly made to this slide will not be displayed in Live Meeting. Edit this slide by selecting Properties in the Live Meeting Presentation menu.
    • 19. Business Priorities and Forecast
      • EXAMPLE
      • Current Priorities
      • Process Excellence
      • Expanding to New Global Markets
      • Driving Profitability
      • Hire Needs: 80% 200 Engineers, 100% 160 Engineers
      • Track demands met (requisition tracking, pulse survey)
      • Circle back to strategy and operational needs
    • 20. Success Profile and Sourcing
      • This is what quality looks like
      • Where do we get it?
        • Global sourcing
        • Gen Y
      • How do we define it?
      • Business priority and hiring manager input
      • Staffing provides sourcing realities
    • 21. Think Holistically The Complete Success Profile What people know Mech Engineer Degree Aviation Mechanics What people have done Lead major projects Working across countries What people can do Decision Making Planning and Org Communication Coaching Who people are Challenge seekers Interpersonal motive Creative
    • 22. Assemble the Tools Experience Technical achievements University Diploma Technical Knowledge Building Partnerships Planning and Organizing Competencies Initiative Thinking and reasoning Personal Attributes Interview Testing Screening Success Profile
    • 23. Measure the Process
      • Process Compliance/Consistency
      • Measure your base line cost of hire
        • Point at which a position comes open
        • Lost productivity
        • Hiring process costs
        • Point at which position is filled
    • 24. Process Opportunities
    • 25. Vacant Positions Cost Money
    • 26. Measure the Process
      • EXAMPLE
      • Full productive engineer – Portfolio $1 million per yr
      • ($2,800 per day of lost productivity)
      • Advertising costs - $1,000 for one position
      • Screening, assessment, interviewing costs - $500
      • Training costs - $2,000
      • Total Selection Costs = $3,500
      • 30 days to hire new engineer = $84,000
      • Grand total = $87,500
    • 27. Measure the Process
      • EXAMPLE
      • 30 days to hire new engineer = $84,000
      • Grand total = $87,500 (turns over in <6 months, wasted)
      • Reduce to 15 days through process improvement
      • Cost Savings = $43,750 per position
      • Reduce by $3,000 per day
    • 28. Process Check
      • Where are the biggest bottle necks in your current hiring process?
      • Sourcing - Can't find enough candidates to begin with
      • Screening - We can't screen all of the resumes we receive effectively
      • Interviewing - We have too many candidates to interview
      • Not sure where, just that it takes too long
      • Other
      Live Meeting Poll Changes directly made to this slide will not be displayed in Live Meeting. Edit this slide by selecting Properties in the Live Meeting Presentation menu.
    • 29. Show Quality of Hire Before You Change Your Process Market Strategies Protect and Grow High Value Customers Increase Competitive Win-Backs In Field Saves Maximize New Build Penetration Increase MDU Market Penetration Conversion of UA Homes Top Scoring DSRs:
      • 3xs as likely to be high performers overall
      • Achieve 20% more sales
      • Make 16% more sales calls
      • Realize 20% more connections
      • 10% more satisfied customers
      • Meet 10% more deadlines
    • 30. Ramp-Up Time
      • Hired, but not ready
      • Time to replace productivity
      • 30 days, 90 days, 1 yr
    • 31. Ramp-Up Time EXAMPLE 90 days to reach acceptable performance = $250,000 Reduce time to productivity to 30 days (QH Indicator) Cost Savings = $125,000 per position Training success (QH Indicator) - Leading indicator of time to productivity reduction - Rapid application of learning to the job
    • 32. On-Boarding Is the Key
    • 33. Productivity
      • How much will they contribute?
      • At what level?
      • What is the impact on the business?
      • Job specific
      • Focus on pivotal jobs
    • 34. Productivity EXAMPLE Acceptable engineer – Portfolio $1million per yr High performing engineer – Portfolio of $1.4 million per yr Hire 10 more high performing engineers = Additional $4 million Can be tracked through productivity metrics Hypothesis testing – Overall productivity level
    • 35. Productivity – Major Retailer
      • Store Associate Positions
      • Average basket size per check out
      • Transactions per hour
      • Transaction errors per day
      • Customer complaints
      • Tardiness
      • Absenteeism
      • Time to full productivity estimation
    • 36. Productivity – Telecom Sales
      • Store Associate Positions
      • % of Quota
      • Deadlines met
      • # Sales calls made
      • Customer service ratings
      • % territory growth
      • Profit margin
    • 37. Productivity – Manufacturing
      • Store Associate Positions
      • Defect rates
      • Attendance
      • Disciplinary actions taken
      • Safety violations
    • 38. Quality of Hire Balanced Scorecard – Pivotal Roles
    • 39. Set Your Expectations
    • 40. Continuously Improving
      • Periodic effectiveness checks
      • Checks of business alignment
      • Checks of recruiting alignment
      • Aligning with talent mgt
    • 41. Questions & Answers Made Possible By:
    • 42. Thank You! Human Capital Institute 1250 Connecticut Avenue NW, Suite 200 Washington, DC 20036 (866) 538 1909 www.humancapitalinstitute.org Made Possible By:

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