TARGETjobs Breakfast News - June 2012


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  • TARGETjobs Breakfast News - June 2012

    1. 1. AGENDA FOR TODAY Welcome – Simon Rogers The economic forecast – Bryan Finn, Business Economics Ltd. A comprehensive analysis of the macro economic factors currently affecting graduate recruitment. The evolution of the candidate experience – Carl Gilleard, CEO, AGR Carl will highlight key changes that have occurred and identify best practice The cost of bad hiring – Marcus Body, Head of Research & Susanna Wells, Principal Occupational Psychologist, Work Group Why do selection processes go wrong – how do candidates feel about the process?The Santander experience – Lorcan Seery, Graduate & Early Career Resourcing Manager, Santander Group Lorcan will share the Santander process, their challenges and how they are trying to overcome them
    2. 2. Do you want to address a gender imbalance in your hiring profile? Are you struggling to attract female graduates to programmes intechnology and engineering? If so, then join the growing number of graduate recruiters taking part in TARGETjobs Events twoflagship contact events for female students this autumn; ITs not just for the boys! focusing on careers in IT and Engineer yourfuture focusing on careers in engineering. ITs not just for the boys! is a live, multi - company, half day event in Central London designed exclusively for over 100 female IT students from all year groups to meet employers. The format Engineer your future involves a similar programme also in Central involves presentations, networking forums, skills London and brings together over 100 female students (studying workshops, one to one coaching and live engineering or STEM related degrees) with engineering employers / interaction; including debate and Q and A. The or employers trying to broaden their profile of female engineers. Just event is designed to inspire IT and wider STEM like the event above, the format also involves presentations, students about a range of technology based networking forums, skills workshops, one to one coaching and live careers. interaction; including debate and Q and A.Ahead of both of these events, female students take part in a robust screening process; including interviewing with the TARGETjobs Eventsdelivery team, where they are measured against a number of academic and competency criteria before they are invited to attend.To find out more and to get involved as one of the participating employers, please contact Kathryn Callow at TARGETjobs, 020 7061 1932. Getting involved will be subject to availability as there is a limited capacity per event.
    3. 3. The best ATS just got better
    4. 4. The best ATS just got better● Fully and properly caters for graduate and experienced hire● Always the latest version – SaaS technology● Modern easy-to-use design● New unique functionality available – CV bank, Postcode parameter search, X filters?● Expanded reporting functionality – reports directly into PDF, Excel, Word, Powerpoint● Ability to personalise your dashboard
    5. 5. UK economy: GDP growthAnnual % change 6% 4% 2% 0% -2% -4% -6%
    6. 6. UK economy: recruitment cycleAnnual % change 6% GDP 20% Recruit 4% 10% 0% 2% -10% 0% -20% -30% -2% -40% -4% -50% -6% -60%
    7. 7. World economy: growth ratesAnnual % change
    8. 8. World economy: oil prices$ per barrel 130 120 110 100 90 80 70 60 50 40 30 20 10 0
    9. 9. UK economy: share pricesFTSE 100 7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500
    10. 10. UK economy: retail sales Annual % change
    11. 11. UK economy: house pricesAnnual % change 30% 25% 20% 15% 10% 5% 0% -5% -10% -15% -20% -25%
    12. 12. UK economy: consumer confidenceBalance 10 5 0 -5 -10 -15 -20 -25 -30 -35 -40
    13. 13. UK economy: unemployment % of workforce 9.0 8.5 8.0 7.5 7.0 6.5 6.0 5.5 5.0 4.5 4.0
    14. 14. UK economy: graduate unemployment% of graduate workforce
    15. 15. World economy: youth unemployment% of youth workforce
    16. 16. UK economy: job vacancies 000s 750 700 650 600 550 500 450 400
    17. 17. UK economy: job vacancies by sectorAnnual % change Jan–Apr 2012
    18. 18. Future prospects: GDP forecasts 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 2012 -0.5% -1.0% 2013 -1.5% -2.0%
    19. 19. Do unto othersReflections on candidatemanagement processes
    20. 20. What’s changed over the years?• Much more diverse student body.• Many more applications to handle (AGR Survey).• Supply and demand has put the employers back in charge.• Greater automation of the process.• Recruitment risks become a rejection machine.• Self-deselection tools widely used.• Time to hire has been reduced (AGR Survey).• Employer expectations are higher.• Use of internships in selection process (AGR Survey).
    21. 21. Best practice• Ensure the EVP is clear and consistent throughout – reflecting the true values of the organisation.• Give candidates time to decide (avoid exploding offers).• Keep candidates warm.• Look beyond the 2:1.• Avoid ‘over-recruiting’.• Review practice and selection criteria regularly to identify barriers.• Ensure that recruitment practice does not cut across diversity policies.• Ensure internships are open to all (and are paid).• Offer feedback to all unsuccessful candidates.
    22. 22. What to watch out for• Professor Sir Tim Wilson’s Review of Business- University Collaboration.• Alan Milburn’s Report “Fair Access to Professional Careers”.• Introduction of the HEAR (Higher Education Achievement Report).• Impact that the candidate experience can have on your brand.• Economic growth and demographic change leading to a change in the balance of power.• The law.
    23. 23. Finally, rememberToday’s rejected candidate could be tomorrow’smost important potential customer.
    24. 24. Employ the wrong people.Annoy everyone else.
    25. 25. The cost of a bad hireUp to 5x salary to replace a bad hire – Direct costs • Severance, advertising, recruitment, training, administration – Indirect costs • Lost productivity, low team morale, dissatisfied customers, loss of market share
    26. 26. Are we getting it right?With regard to retention… 46% retained 100% of last year’s recruits “80% of turnover is caused by bad hiring decisions” Harvard Business Review study
    27. 27. Mistake #1:The ‘typical graduate’ effectOne size does not fit all: – Understand your unique requirements – Identify critical knowledge, skills & behaviours – Consider current and future needs
    28. 28. Mistake #2:The ‘simply the best’ effectWhen screening applications, consider: – Screening out vs. selecting in – Screening for now vs. the future – The pros and cons of online ability testing
    29. 29. Mistake #3:The ‘desert island’ effectAssessment centre exercises must be: – Job relevant – Face valid – Designed to measure key skills – Up-to-date
    30. 30. Mistake #4:The ‘just like me’ effectUntrained assessors could: – Increase subjectivity & inconsistency – Introduce bias – Open you up to legal challenges
    31. 31. Mistake #5:The ‘we’ve got it right’ effectThe final (and first) stage is evaluation: Monitor Review Refine
    32. 32. Beware the 5 hiring mistakes(and many more…)Ensuring a quality hire 1. Define who you need: job analysis 2. Define how to pick them: assessment design 3. Check you’re getting it right: evaluation
    33. 33. Part IIThe reputation cost of bad hiring
    34. 34. Why it matters• Applicants still haven’t “bought” you. 91% of applicants applied to more than one scheme 28% applied to more than 10• People talk – even the ones you don’t hire. Average applicants per place is 83.2 98.8% of people experiencing your process don’t get the job
    35. 35. Rigour vs speedFour options posed to those who haven’t yet applied 34% As many stages as it takes to be fair. 50% Several stages, but not too time consuming. 12% Faster processes are preferable, even if it’s less fair. 3% I’ll accept the first offer I get. Speed is everything.
    36. 36. And the real reactionThree options posed to those who did apply 56% They took up too much time and effort 43% They took up a reasonable amount of time 1% They were too short, and not thorough enough
    37. 37. Face validity The validity of a test estimated or judged intuitively, without recourse to any objective evidence. Also called ‘a priori validity’. The Oxford Dictionary of Psychology, 2003 edition
    38. 38. Face validity Students are very “old school”… but wrong.
    39. 39. Communication Those about to apply want to know…
    40. 40. Communicatioff But those who’ve just been through say…
    41. 41. I don’t cheat… The honesty box - part 1 6.9% Didnt cheat Cheated. 93.1% (a little)
    42. 42. …but everyone else does The honesty box - part 2 27.7% Other people dont cheat 72.3% Other people cheat
    43. 43. How? Bending the truth •“Optimistic” degree expectations •Exaggerating involvement in projects/teams Cheating •Verbal reasoning tests •Numerical reasoning tests And even… •Personality tests
    44. 44. And what do we do about it? 1. Ignore it False positives not a big problem in screening. They’ll get knocked out later on. 2. Re-test it Make it part of assessment centres. And tell them you will. 3. Explain why they shouldn’t Cheating the test wastes their time too. Explain why you’re testing, and how results will be used.
    45. 45. They’re evaluating you too…
    46. 46. Big conclusion #1 You need a much clearer definition of exactly who you’re looking for… …and then you need to explain that clearly to students to avoid wasting your time and their time.
    47. 47. Big conclusion #2 You need a process that actually finds those people, not just fits the pipeline… …and then you need to show students what your process is, and why.
    48. 48. Big conclusion #3Even if you’ve done all that, you need to checkit actually worked……because a credible process doesn’t just helpyou recruit the best of your applicants; it willmake you more attractive.
    49. 49. Aims for today• Strategic approach for Santander UK for its Early in Career (EiC) population• Objectives for Santander Early in Career for 2012/2013• Share how Santander manage the candidates through our EiC process• Highlight some of the enhancements introduced into our 2012 EiC campaign• Discuss current impact of approach for San UK
    50. 50. Why recruit EiC/Talent? We need EiC populations that will provide a pipeline of future talent & potential across theBank, supporting our aim to Build a better Bank through coordinated People, Talent &Resourcing strategies San UK PEOPLE STRATEGY EiC STRATEGY Strategic Strategic Business Intent Imperatives Goals • Dedicated internal EiC team to attract, identify, retain and develop talented colleagues and … for our equip them to perform effectively. Customers • Expanded EIC programmes to accelerate talent pipeline build-up. Retain and attract the • Create & deliver targeted interventions aligned to right people the business strategy that enable colleagues to Build a do their best work. … for our Focus people to do the right better • Internal mobility mechanisms to allow People things Bank employees to pro-actively manage internal Enable our people to do their moves / career steps. best work • Maximise the ability to rapidly deploy high potential colleagues into key roles. … for our • Assessment & selection focused on desired Shareholders behaviours (values) with a view to building the required commercial & leadership skills through continuous professional development.
    51. 51. The Santander Experience• 2012 focus on improving the candidate experience• With a target to: – Attract and recruit highly engaged and ‘suitable’ graduates – Promote what Santander has to offer as a graduate employer – Achieve 95% offer acceptance – Increase Santander’s graduate Times Top 100 / Guardian UK300 ranking – Ensure optimum number of opportunities for suitable internal applicants to apply to• End-to-end process reviewed and enhanced• Recruitment team grown to deliver excellence• New graduate EVP brand launched
    52. 52. Enhancing the Experience• Personalised communications – Phone calls instead of emails – Pre-test and interview briefing calls – Recruiter phone numbers available to all – Mentoring to find best-fit programme – Full verbal feedback for all candidates (if requested) – Enhanced marketing campaigns to attract best internal candidates• Great candidate experience at AC – Relaxed and engaging environment – Fully trained business assessors – Personalised candidate packs
    53. 53. Candidate Feedback‘The whole recruitment process is very fast and ‘It was a unanimous feeling within the groupefficient. I was always very delighted that I was that the Santander Graduate team were verykept posted with the latest process by phone. AndI really appreciate that Santander has paid welcoming and helpful. What I most enjoyedattention to details such as putting the time about the day was being able to interact withlength for each applicant on the folder at the high quality assessors who allowed me toassessment day.’ bring my ideas forward in an articulate manner.’‘I was very impressed with the timely responsefrom the Graduate Recruitment Team to any ‘The recruitment team at Santander have beenemails or questions that I had. I felt that I was more efficient than that at any otherconsidered as an individual rather than just a organisation I have applied to. It has been nice“candidate” and all correspondence was very to know where I stand within the process, andpersonal. This has helped to put me at easethroughout the application process.’ to not have to wait long periods of time feeling unsure’.
    54. 54. Personalised Post-Offer Process• Regular HTML emails and calls• Facebook page & on-boarding site• Manager & graduate buddies• Summer giveaways• Business events• Formal induction invite• Branded graduate induction
    55. 55. Current Impact of approach for San UK• Fantastic candidate feedback• 95% offer acceptance• 1st time nomination for TARGETjobs Best Graduate Employer Award• Climbed 27 places in Times Top 100• Increasing EiC hiring considerably for 2013• Continuing brand growth in 2013• Candidate experience remains key focus
    56. 56. • Any questions?