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Webinar#3: Outbound All Stars Webinar Series

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Moneyball: Data-Driven Strategies for Predictable Hiring Success
When it was released in 2011, Moneyball represented a revolution in the way data was used in making decisions. Hailed as one of the most transformative management guides, it has impacted how businesses across industries have adopted the use of data.

Published in: Recruiting & HR
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Webinar#3: Outbound All Stars Webinar Series

  1. 1. Episode 3 #OutboundAllStars
  2. 2. Vikrant Kapur Global Talent Sourcing Lead, Accenture @KapurVikrant Aadil Bandukwala Outbound Hiring Evangelist, Belong @aadil Today’s Speakers #OutboundAllStars
  3. 3. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES What is Moneyball? “We didn’t solve baseball. But we reduced the inefficiency of our decision making.”
 
 - Paul Podesta Moneyball: The Art of Winning an Unfair Game, by Michael Lewis - Published in 2003
  4. 4. Big Data can help solidify HR’s reputation as a strategic business partner that makes analytics-driven, evidence-based decisions, especially when it comes to talent acquisition. Big Data fuelled hiring means getting the right people at the right time. It can improve candidate sourcing and selection, speeding up the hiring process and reducing costs, all of which equate to significant competitive advantages. How to apply Moneyball to talent acquisition: © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  5. 5. Moneyball is all about using data to recruit talent - How are the lessons from Moneyball being implemented in your organization today? #OutboundAllStars Contest #OutboundAllStars
  6. 6. Benefits of a data-driven hiring strategy Identifying and targeting top talent based on relevant traits, experience and accomplishments Widening potential talent pool beyond traditional sources - competitor companies, industry or colleges 1 2 3 4 5 Analyzing patterns in historic hiring trends to find candidates who are most likely to succeed Developing objective performance measurements The ability to make hiring decisions based on objective, fact and empirical data © 2018 Belong Technologies India Pvt. Ltd. #OutboundAllStars
  7. 7. 75% of companies believe using data and analytics in HR is important, however 8% feel like their organization is strong in this area. #OutboundAllStars
  8. 8. THE OUTBOUND ALL STARS RECRUITER SERIES 7 OF 57 © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  9. 9. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  10. 10. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  11. 11. Data-Driven Hiring Parameters INDUSTRY LEVEL DATA COMPANY LEVEL DATA CANDIDATE LEVEL DATA3 2 1 ENGAGEMENT DATA4
  12. 12. Data-Driven Hiring Parameters INDUSTRY LEVEL DATA COMPANY LEVEL DATA CANDIDATE LEVEL DATA3 2 1 ENGAGEMENT DATA4
  13. 13. Industry Level data Where will I find relevant talent in terms of location, education, etc What skills am I looking for? Is there a combination of experience / domain expertise I need? What’s the level of experience I need in the desired skill / functional areas? What are the substitute / complementary skills? 1 2 3 4 © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  14. 14. Here are some never before seen insights from the Belong Mobile Talent Report 2018 - a study of talent trends of over 40,000 mobile developers in India #OutboundAllStars
  15. 15. Industry trends - Role-based Search © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES When you search for Mobile Talent by 'Role', NCR emerges as the top spot, with 12% of IOS and Android talent.
  16. 16. Skill breakdown for IOS and Android Swift emerges - repeat © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  17. 17. Industry trends - Skill based Search © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES When you search by relevant skill set, your potential talent pool increases by over 35%, helping you find talent that you may have missed out on. 
  18. 18. Industry trends - Talent Pools © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES ITeS & Computer Software dominate the talent pool, but new industries like Telecommunication and Marketing have recently joined the top industries
  19. 19. Industry Data - Benefits Intelligent targeting
 Target those locations, industries and companies where you are most likely to find relevant talent Better partnership with Business
 Set expectations with Business as to talent availability, forecasted time to hire, etc Increased adaptability
 Proactive sourcing allows you to create adaptable, scalable hiring strategies Optimize recruiter efficiency
 Recruiters can now prioritize those channels or sources that have historically been successful Creation of talent communities
 Nurturing talent communities will help minimize time and cost of hire for similar candidates in the future 
 Staying ahead of competition
 Knowing talent trends is the best way to maintain your company’s competitive advantage © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  20. 20. Industry Data - Benefits Intelligent targeting: 
 Target those locations, industries and companies where you are most likely to find relevant talent. Better partnership with Business: 
 Set expectations with Business as to talent availability, forecasted time to hire, etc Increased adaptability
 Proactive sourcing allows you to create adaptable, scalable hiring strategies Optimize recruiter efficiency
 Recruiters can now prioritize those channels or sources that have historically been successful Creation of talent communities 
 Nurturing talent communities will help minimize time and cost of hire for similar candidates in the future 
 Staying ahead of competition:
 Knowing talent trends is the best way to maintain your company’s competitive advantage. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Intelligent targeting 
 Target those locations, industries and companies where you are most likely to find relevant talent Staying ahead of competition Knowing talent trends is the best way to maintain your company’s competitive advantage
  21. 21. Sources © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Talent Reports, Surveys Online groups and communities Professional and social networks
  22. 22. Data-Driven Hiring Parameters INDUSTRY LEVEL DATA COMPANY LEVEL DATA CANDIDATE LEVEL DATA3 2 1 ENGAGEMENT DATA4
  23. 23. Company Level Data What kind of candidates have historically been successfully hired? What is the criteria that is the most important for candidates to match? What parameters ensure culture fit? Company Data Competitor Data Which companies work on similar products or have teams with relevant capabilities? Are there companies at the same size or similar stage of growth as us where we can find relevant talent? Which of these companies are based in desired locations? © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  24. 24. © 2017 Belong Technologies India Pvt. Ltd. Company Level Data © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  25. 25. Feedback loop to refine Opportunity Profile © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  26. 26. Company Data - Benefits Conversion Ratio Predictability
 Forecast the success of future candidates based on what has worked well in the past Employer Value Proposition 
 Understand what kind of candidates succeed to craft a unique EVP to attract similar candidates Higher Conversion Ratio
 The dynamic feedback loop ensures improved Conversion Ratios Earning trust of Hiring Managers
 Hiring Managers waste less time on irrelevant candidates therefore building a strong relationship between Recruiters and Hiring Managers Improved Candidate Experience
 Knowing what worked well and what didn’t within your own hiring process will help you significantly improve your candidate experience © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  27. 27. Company Data - Benefits Conversion Ratio Predictability:
 Forecast the success of future candidates based on what has worked well in the past Employer Value Proposition 
 Understand what kind of candidates succeed to craft a unique EVP to attract similar candidates Higher Conversion Ratio
 The dynamic feedback loop ensures improved Conversion Ratios Earning trust of Hiring Managers:
 Hiring Managers waste less time on irrelevant candidates therefore building a relationship between recruiters and HMs Improved Candidate Experience
 Knowing what worked well and what didn’t within your own hiring process will help you significantly improve your candidate experience © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Conversion Ratio Predictability 
 Forecast the success of future candidates based on what has worked well in the past Earning trust of Hiring Managers
 Hiring Managers waste less time on irrelevant candidates therefore building a strong relationship between Recruiters and Hiring Managers
  28. 28. Sources Your ATS and Hiring Manager discussions Professional networks, social networks Online groups and communities Company data Competitive data Company Annual Reports, Industry Research © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  29. 29. Data-Driven Hiring Parameters INDUSTRY LEVEL DATA COMPANY LEVEL DATA CANDIDATE LEVEL DATA3 2 1 ENGAGEMENT DATA4
  30. 30. Candidate Level Data Are the people I’m targeting following key leaders/influencers in the space?
 Do they consistently post, share or consume content on social media that indicates their interest in the space?
 Are they part of relevant online groups or forums?
 Does their career path reflect growth?
 © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  31. 31. “If you take a data-backed perspective and you analyze the background and characteristics of the high-performers over a period of time, you actually might find that candidates who went to great colleges and got high GPAs are not the best candidates for the role. That information that has huge impact on the performance of your business.” JOSH BERSIN Bersin by Deloitte #OutboundAllStars
  32. 32. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  33. 33. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Candidate Data - Social Media Insights
  34. 34. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Candidate Data - StackOverflow profile
  35. 35. A personalized email that shows that the recruiter has done their research and causes the response rate to jump to 60-70% - What kind of research do you undertake to personalize your reachout emails? #OutboundAllStars Contest #OutboundAllStars
  36. 36. Higher open and response rates Personalized emails see three times the response rates compared to generic emails
 Better candidate experience 
 When they see that you took time out to research about them, your candidates will feel valued and special Improved employer brand Candidate insights help you customize the positioning of your brand so that it resonates most with them Candidate Data - Benefits Faster hiring cycle 
 Your engagement with the candidate will be much more productive and lead to faster movement Better relationship with the candidate
 When you are able to drive a conversation backed by insights, candidates will be more likely to listen There will be net boomerangs Candidates will be more likely to reach out to you first when they’re ready for their next opportunity © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  37. 37. Higher open and response rates Personalized emails see three times the response rates compared to generic emails
 Better candidate experience: 
 When they see that you took time out to research about them, your candidates will feel valued and special. Improved employer brand Candidate insights help you customize the positioning of your brand so that it resonates most with them Candidate Data - Benefits Faster hiring cycle 
 Your engagement with the candidate will be much more productive and lead to faster movement Better relationship with the candidate
 When you are able to drive a conversation backed by insights, candidates will be more likely to listen There will be net boomerangs: Candidate will be more likely to reach out to you first when they’re ready for their next opportunity. © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Better candidate experience 
 When they see that you took time out to research about them, your candidates will feel valued and special There will be net boomerangs Candidates will be more likely to reach out to you first when they’re ready for their next opportunity
  38. 38. Sources: Professional networks Social networks Online groups and communities © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  39. 39. Data-Driven Hiring Parameters INDUSTRY LEVEL DATA COMPANY LEVEL DATA CANDIDATE LEVEL DATA3 2 1 ENGAGEMENT DATA4
  40. 40. Engagement Data How engaged are my target candidates with me? Are they on our talent nurturing lists? If they are, do they engage with the content we share? 
 Do they follow or engage with us on our social networks or groups? 
 Have we engaged them in any interview process before? © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  41. 41. of all candidates indicate the preferred method of communication is email contact. In this era of the social revolution, marketing professionals have determined that email is 40 times more effective than Facebook and Twitter combined in acquiring customers. 97% of businesses are using email marketing to try to convert email recipients into buyers. It must be working because, according to a Smith-Harmon survey, 76 % of subscribers have made purchases from an email marketing message. 79% © 2018 Belong Technologies India Pvt. Ltd. #OutboundAllStars
  42. 42. Engagement Data - Email Heat Map © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  43. 43. Candidate Engagement Score (CES) © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES
  44. 44. © 2017 Belong Technologies India Pvt. Ltd. 6 people backed out at last minute. All of them from low Candidate Excitement Score. CES based on prep notes time, recruiter notes, reach out email reply date etc. Candidate Engagement Score (CES) THE OUTBOUND ALL STARS RECRUITER SERIES
  45. 45. © 2018 Belong Technologies India Pvt. Ltd. How to optimise a Recruiter’s time THE OUTBOUND ALL STARS RECRUITER SERIES 1 Hour Internal Meetings 1 Hour Meeting with Hiring Manager 1 Hour Lunch, Breaks 2 Hours On Calls 2 Hours On Reach out Emails 1 Hour Follow up with Candidates
  46. 46. Benefits Lowers Candidate Drop-off 
 Recruiters can track which candidates are interested, and which need to be engaged with more Predictability 
 Knowing how engaged a candidate is will help forecast conversion ratios and therefore metrics like time to hire and time to join © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Higher Conversion Ratio
 Knowing which candidates need to be engaged with and planning your follow ups accordingly can help recruiters boost conversion through the pipeline Optimized Resource Allocation 
 Recruiters can focus on high potential candidates who are not engaged by identifying these candidates
  47. 47. Benefits Lowers Candidate Drop-off 
 Recruiters can track which candidates are interested, and which need to be engaged with more Predictability 
 Knowing how engaged a candidate is will help forecast conversion ratios and therefore metrics like time to hire and time to join © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Higher Conversion Ratio:
 Knowing which candidates need to be engaged with and planning your follow ups accordingly can help recruiters boost conversion through the pipeline Optimized Resource Allocation: 
 Recruiters can focus on high potential candidates who are not engaged by identifying these candidates Optimized Resource Allocation Recruiters can focus on high potential candidates who are not engaged by identifying these candidates Higher Conversion Ratio Knowing which candidates need to be engaged with and planning your follow ups accordingly can help recruiters boost conversion through the pipeline
  48. 48. Sources © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Engagement or marketing tool ATS, CRM Social MediaCandidate Surveys
  49. 49. While data driven strategies can help talent acquisition with predictable hiring success, human-centered strategy must remain at the core of recruitment. What are some of the ways that data and technology can never replace recruiters? #OutboundAllStars Contest #OutboundAllStars
  50. 50. Results © 2018 Belong Technologies India Pvt. Ltd. THE OUTBOUND ALL STARS RECRUITER SERIES Increased Quality of Hire Predictable Speed of Hire Improved Candidate Experience Embed Diversity into Recruiting Process Deliver On Recruiting Capacity
  51. 51. Whatever method you use, remember that talent analytics is not a “one- and-done” process. In order for recruitment to be successful, you must continuously look for ways to improve hiring. 
 
 Talent Analytics enables you to confidently double down on your strengths and eliminate the areas where you’re weakest so you can meet every talent need of your organization.
  52. 52. THANK YOU #OutboundAllStars

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