Two Sides of
the Same Coin:
Recruiting & Retention
Tara Dwyer
Webinar Coordinator
Human Resources Today
Caitlin MacGregor
CEO & Co-Founder, Plum
March 21st, 2023
9:30 am PDT, 12:30 pm EDT, 4:30 pm BST
With

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Caitlin MacGregor
CEO & Co-Founder,
Plum
Two Sides of the Same Coin:
Recruiting & Retention

When People Flourish, Business Thrives.

“We are accelerating toward the new world
of work.”
⁃ George LaRocque, Founder, WorkTech

Let's Take a Moment

Think about a time when…
You were your happiest at work
a) What made you excited to jump out of bed in the morning?
b) What were you doing that filled your proverbial cup?

Now, think about a time when…
You were unhappy, unmotivated, or burnout at work
a) What were the activities you were doing that drained your bucket?
b) What did you feel was taxing and took forever to do?

Thinking about our drivers and drainers
Drivers
Drainers

50.5 million quit

The new criteria for accepting job offers
14
64% 61% 58%
A significant increase in
income or benefits
Greater work-life balance
and personal wellbeing
The ability to do what they
do best

“Companies must tailor their workforce
strategy to the unique needs of their
workers.”
⁃ PricewaterhouseCoopers

Being Happy at Work Matters
17
4X 2X 21%
Happy employees stay
in their jobs four times
longer than unhappy
employees
Happy employees
commit twice as much
time to their tasks
Companies with a highly
engaged workforce have
21% higher profitability
[iOpener Institute for People and
Performance LTD]
[iOpener Institute for People and
Performance LTD]
[Gallup]

The Cost of Missing the Mark
18
$11B $550B 47%
Amount of US companies
spend annually on
employee turnover
Amount US employers lose
annually due to a lack of
engagement with the job
Of HR Chiefs cite
employee retention and
turnover as their top
workforce-management
challenge
[Gallup] [Hubspot] [SHRM]

Leaky Bucket Problems
11M Unfilled jobs
in the US
$11B
Companies spend
annually on turnover

Solution to the Leaky Bucket
Screen people IN
- AND –
Increase retention

The way we used to match
Resume parsing (keywords)
doesn’t work
in our post-pandemic world

Psychometric data is 4X more predictive of performance than a Resume
General Guidelines for Interpreting Validity Coefficients
Department of Labor - US (1999)
Age Education Experience References
Unstructured
Interview
Innate
Talents
Structured
Interview
Job Tryout
0
0.13
0.25
0.38
0.5
Unlikely to be Useful Situational Likely to be Useful Very Beneficial

$300,000
A poor hiring decision can cost

When People Flourish,
Business Thrives.

I/O Psychology understands:
1. The Human behind the work — What drives & drains someone
2. The behavioral needs of every job (KBIs)
3. The alignment between the person and the job, predicting where someone has the greatest
potential to succeed and thrive if given the opportunity

Adaptation Communication Decision Making Embracing Diversity Managing Others
Innovation Conflict Resolution Execution Persuasion Teamwork
Universal Talent Model for measuring human potential and job needs
26
Quantify innate Talents

Talent Competencies Description Behaviors
Focusing on quality of output
Meeting expectations by being thorough,
organized, and detail-oriented, and accepting
responsibility for mistakes.
• Demonstrating thoroughness and attention to detail
• Always trying to do the best possible work
• Learning what is important to produce quality work
• Completing work in a timely manner without making errors
• Accepting responsibility for mistakes
Monitoring progress
Monitoring performance and comparing
performance to standards to ensure high
expectations are met.
• Doing the best possible work to achieve challenging goals
• Improving performance by analyzing prior mistakes or problems
• Monitoring activities and overseeing resources
• Learning what is important to produce quality work and avoid costly mistakes
Setting challenging goals
Setting goals that are measurable, time-based,
challenging, and both short- and long-term
focused.
• Developing specific goals to prioritize and organize work
• Skillfully tackling challenging problems
• Establishing short- and long-term goals
• Remaining calm and level-headed when faced with multiple or conflicting goals
Execution
Setting goals, monitoring progress, and taking the initiative to improve your work

Match People to Roles in 3 Easy Steps
28
1. Candidate/Employee Assessment 2. Employer Match Criteria Survey 3. Match Score
One-time 20-25 min assessment 8 min Job Analysis Match people to roles

Drives
Drains
Teamwork
Adaptation
Execution
Innovation
Formulating plans to implementation
Generating new ideas
Identifying impact of possible solutions
Anticipating problems and choosing solutions that avoid them
Seeking out new ideas and critically evaluating them
Establishing objectives and specifying the strategies and actions to achieve them
Finding and generating valuable solutions
Using unconventional approaches to solve problems
Suggesting creative and original ideas
Finding ways to improve the quality and efficiency of work
Managing
Others
Anticipating problems and outcomes before they happen
Gathering and analyzing information relevant to a problem
Assessing the value, importance, or quality of an idea
Meet Maia

Screen-in people that are often overlooked into roles where they will thrive
Critical
Essential
Important
Helpful
Product Manager
Match Score: 94
Execution
Innovation
Adaptation
Teamwork
Useful
Managing Others
Managing Others
Communication
Decision Making
Conflict Resolution
Persuasion
Critical
Essential
Important
Helpful
Useful
Director of Underwriting
Match Score: 63
Maia
Drives
Drains

Universal Talent dataset supporting the entire Employee Lifecycle
Talent Acquisition
Learning and Development
Team Optimization
Internal Mobility
Leadership Potential Onboarding

Plum Confidential
Identify where your people will thrive
Managerial Track
Expert Track

Plum Confidential
Leadership Potential Defined
The potential to emerge as a leader and be effective
in leadership roles at higher levels in the hierarchy

Plum Confidential
Why measure Leadership Potential
Assessing potential is about increasing the
probability that you will see a good return on your
investment in people

Plum Confidential
Organizations with strong
leaders are
2.3x
more likely to financially
outperform peers
$166B annual
spend on leadership
development in the USA
Biggest problem is
42%
of Potential Leaders are
misidentified
Impact of Leadership Potential

Plum Confidential
Add objective data to your Talent Review
Subjective Data
Observed Behaviour…“has potential”
• If someone is an excellent individual
contributor, they are more likely to be identified
as "has potential" regardless of their
leadership capabilities
• 88% of DEI Leaders perceive bias in
their promotions or succession processes
Objective Data
Leadership Potential Dimensions…
• Proven science identifying the foundational
dimension that exist in successful leaders
• Increase diversity in your leadership pipeline
by screening in people that are overlooked

Plum Confidential 3
By 2030
workforce millennials
70%

Plum Confidential
1 2 3
Great land
Do your people have the potential to be
great leaders? This means high learning
agility and a mix of certain personality
behaviors to build upon.
Building
Great leaders build the skills and knowledge
required to accomplish the company’s
goals.
Leaders need to keep their skills and
knowledge up-to-date to meet ever-
changing challenges.
Updating
Great Leaders and Building a House
…they’re surprisingly similar

Plum Confidential
Leadership Potential
• Objectively identify and start developing
future leaders sooner
• Our Leadership Potential Model is based on
6 foundational dimensions
• Positive employee experience
• Strip away bias and build a more diverse
leadership pipeline
Overall Leadership Potential
Learning Agility
Drive
Self-Confidence
Composure
Empowerment
Presence

The Scotiabank Challenge
1. Optimize their hiring process
2. Hire individuals for their potential
3. Improve their candidate experience
40

Creating unprecedented ROI for
182%
ROI
2X
Retention
60%
Hiring of
visible minorities

The Whirlpool Challenge
1. Better predict performance to improve quality of hire
2. Create better end-user experiences for candidates and recruiters
43

0
10
20
30
40
50
Expectancy of Performance Based on Plum Match Score
Lower Performance Potential (No Offer) Higher Performance Potential (LDP Offer)
High Match Scores
Low Match Scores
Higher Plum Match Score = Higher Performance
44

The Sitel Challenge (TM)
1. Have a fair and objective process to assess talent
2. Support employee development
3. Enable internal mobility
45

Commitment to their employees
Facilitating internal
mobility
Employee development across
countries
26 100%
NPS

Providing a scalable solution for psychometric data
Consulting Technology
Resume
Keyword
Match
Psychometric
Data
Scalable
Predictive
140 hrs per role
Nonpredictive
8 mins per role
4x more predictive

The results Plum delivers
Quality of Hire
93%
Of managers would hire their
Plum recommended matches again
Retention
77%
Increase in ability to retain
talent
Efficiency
80%
Less time reading resumes
88%
Less time interviewing
Diversity
78% Increase in hiring of
underrepresented minorities
Candidate Experience
94% Of people found their Plum Profile
to be valuable

Plum Confidential
Benefits of objective
psychometric data
throughout the entire
employee lifecycle
Quantify Job Fit
Match the right people to
the right roles
Identify Potential
Objectivelyidentifyandstart
developingfutureleaderssooner
Grow Your People
Empower them with
personalized career insights
Work Better Together
Equip leaders with insights
to build high-performing
teams

Create your own Plum Profile
and personalized Talent Guide
https://use.plum.io/profile-hrtoday

/in/dwyertara
@HRPosts
humanresourcestoday.com
Q&A
Caitlin MacGregor Tara Dwyer
Webinar Coordinator, Human Resources Today
/in/caitlinmacgregor/
plum.io
@caitmacgrego
r
CEO & Co-Founder,
Plum