#FIRMDay 15th nov 2013 simon hallett, lloyds banking group building in-house search capability


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#FIRMDay 15th nov 2013 simon hallett, lloyds banking group building in-house search capability

  1. 1. BUILDING In-house SEARCH CAPABILITY Simon Hallett Head of Talent Acquisition Centre of Excellence Lloyds Banking Group FIRM Conference November 2013 1
  2. 2. Introduction Simon Hallett Head of Talent Acquisition, Lloyds Banking Group PreviousLY: Head of Executive Resourcing & Head of Talent Change Delivery, Lloyds Banking Group EMEA Head Of Recruitment, State Street Bank In-house assignments: BP, Abbey, Accenture HR Services, Royal Mail Managed Services: SchlumbergerSema, Diageo, IBM The Dark side: Alexander Mann, Michael Page 2
  3. 3. Lloyds Banking Group formed in 2009, with 300+ years of history the UK’s largest retail and commercial bank with more than 30m customers 20+ customer brands 1 in 3 a presence on every high street in the UK with 2,500 branches current account customers in the UK bank with Lloyds Banking Group. a major UK employer with 90,000 colleagues Lloyds Banking Group’s history dates back as far as 1695 In 2012, Lloyds Banking Group invested £85m in local charities and communities. 3
  4. 4. Today’s Presentation Building In-house Search Capability Insights from two previous roles Building an In-house search proposition and capability – External candidate focus Developing an alternative approach – proactive talent and search methods – Internal talent focus 4
  5. 5. In-house Search Background State Street in 2007 Circa 2,500 external hires per year Organisational cost focus Search spend circa £1.4m Investment Services, Global Markets, Asset Management, Corporate The idea Demand market – aggressive competition Pay restrictions / challenges Time to market Search firm delivery issues Limited recognition of State Street as an employer 5
  6. 6. Set up Of Internal Search Function Need for resource Approached Search Researcher From Search Supplier Agreed To Take On Search Consultant On Contract To Perm Agreement If They Delivered Business case required Develop the proposition Proposal For An Eight Month Trial Support Business Case Average Search Fee Of £40K Facilitate The Sell To The Business Managers Assumption Of 6 Direct Placements In 8 Months (1 Per Month Allowing For 2M Setup) : Saving £240K Design The Process Cost Assumptions: £7K Mapping Per Assignment Plus Search Consultant Employment Costs: Total £102K Trial Business Case: £138K For 6M, Annual Forecast £291K 6
  7. 7. The proposition Business heads & heads of HR engaged with service proposition & new service offering Service offering External executive search for senior roles Job and candidate specification Research / Sourcing Process and candidate relationship management Screening Offer negotiation Candidate closing Onboarding Approvals Competitor intelligence / research Mapping Structures Products / strategy Compensation benchmarking Benefits of using the search function Timeframes. External search firm up to 8 weeks for a shortlist Internal approach drip feed candidates in / shortlist within 4 weeks Targets in market receptive to approach direct from employer Very few off limits restrictions apply to in-house function Cost Low risk approach Initial research from in-house 10 working days If quality not right – proceed to external search Option to use partner mapping firm to help deliver full map 7
  8. 8. Execution 1 Initial focus on identifying “straight forwards” roles Critical to develop advocacy and early success 2 3 Importance of initial briefing meeting Critical to have hiring team updates Short weekly update to keep search on track Identify potential issues, enable early and proactive issue resolution Agree requirements of Role and person specification Identify target organisations and sources / contacts Define interview process Set expectations and commit to delivery milestones Points to note: Roles at variety of stages Internal service provider Leverage range of research / sourcing options Linked in Recommendations from business, teams, other managers, contacts 4 On line searching Business systems e.g. Bloomberg Counter offer preparation and resignation coaching Alumini Engagement maintained through the noticed period and ensuring the business is engaged in the candidate relationship Historic search / research material Effective management of research and market intelligence information Cap roles being worked at 10 - 12 maximum Customer focus is key Importance of qualifying and closing the candidate Recommendations and referrals at candidate start point 5 6 Equip your search recruiter to perform Market maps Be better, more responsive than external search partners and add value Candidate communications Ongoing, frequency of updates, act in candidates and organisations best interests Be seen to go the extra mile for the candidate and build relationships and trust with them – it will benefit the perception the candidate has of your organisation 8
  9. 9. Results Key challenge became prioritising and managing demand for the service 2nd search recruiter hired after 10 months Over 25 direct placements in first year £1m+ cost benefit of Delivery of confidential data / insight to business Search recruiters used to further upskill wider recruitment team on direct hiring 9
  10. 10. In-house Search for Internal Talent Background Lloyds Banking Group 2011 Review conducted 2010 and 2011 circa £8.5m spend on search for the group (executive and non executive positions) Internal and external recommendations 60% executive hires external Strengthen governance around external role sign off and search initiation Executive population of circa 450 leaders plus internal feeder population (level below) of 2000 Internal and external sourcing frequently commence simultaneously leading to incomplete searches and spend Create new search PSL with revised terms Complete internal recruitment first Set target of internal / external placements at 70 / 30 Mindset of some leaders that external hires must be best… Common features of LBG executive roles: strategy, people leadership on large scale, complexity – challenge for newly hired leaders to be successful 10
  11. 11. Development of Internal Search Talent Executive Resourcing CoE’s worked together 1 2 3 4 5 6 Identified the talent system had search functionaility Mandated regular updates of internal CV’s and uploaded alongside talent ratings into the talent system Identified internal resource to conduct internal searches and help internal talent brokering Advertise some roles internally Redesigned the executive resourcing process: Build in talent brokering and internal search Introduce increased signoff for external search (prove internal options exhausted) Relaunch of executive resourcing process: HR Directors and leadership update RecrUiter workshops Search firm livemeet 11
  12. 12. internal SearcH proceSS internal search candidates current Td partner/ manager to confirm if appropriate go-to role advertise internal talent data vacancy aTr cross-divisional succession plans redeployment initial longlist: candidates engaged longlist submitted to hiring manager shortlist candidates current line manager notified Talent Brokering 12
  13. 13. talent deployment Brokering • Improve the breadth and depth of Executive Talent Talent Pipeline key drivers • Create proactive movement of Executive Talent Talent Pipeline • Introduce transparency of the internal search process to stakeholders, improving the quality of long lists for vacancies regularity purpose monthly senior leaders’ scenario planning fortnightly group wide Executive Talent Brokering weekly group wide Talent Brokering divisional Talent Brokering scenario planning, proactive talent moves validation of long lists for current grade H+ vacancies based on holistic talent data cross-divisional grade g talent movement. sharing roles and colleagues suitable for cross divisional movement group wide candidates raised (import/export) other colleagues long listed from within division/function capaBiliTy engagemenT (cenTral) responsiBiliTy TalenT pools: divisional responsiBiliTy • GENERAL BANKING • INSURANCE • SPECIALIST • SERVICE AND OPERATIONS • QUANTATIVE • PROFESSIONAL 13
  14. 14. Example Pen Portrait SIMON HALLETT Head of Talent Acquisition Simon’s career to date has seen him develop a broad range of leadership and transferrable strategic, operational, commercial change skills. His experience has been gained in resourcing/talent and has seen him build and lead in-house recruiting functions across the UK, Europe, Middle East and Africa. Simon has developed and implemented resourcing strategies for graduate, volume, niche, temporary/ contract and executive hires. He has also implemented and managed outsourced recruitment models, developed in-house direct candidate sourcing strategies and integrated resourcing elements of corporate acquisitions. Following a Law degree Simon joined a market leading recruitment business as a graduate trainee. He quickly progressed into recruitment before recognising an opportunity to utilise his skills and knowledge to improve the effectiveness of organisations resourcing activity. Through his career Simon has held a mix of consulting and permanent positions which has allowed him to develop strategic, leadership, operational and implementation/change skills. Key achievements include: – Royal Mail Group, Head of IT Recruitment/Project Manager: Established centre to handle 3,500 positions per annum – Elan ReSource, Head of Recruitment Diageo/Schlumberger: PL responsibility for £28m, £1m cost saving through supplier rationalisation and rate reductions – Accenture HR Services, Channel Programme Manager: £2m savings achieved by implementing a direct sourcing model – Abbey, Resourcing Delivery Manager: Strategy development for 7,500 hires per year – BP, Recruitment Programme Manager: £4.5m of cost savings through reducing contractor use and increasing permanent hire numbers – State Street Corporation, VP EMEA Head of Resourcing: Delivery of circa 1,500 hires annually through his EMEA teams, successfully completed 4 acquisition integrations, reduced agency use from over 60% to 6% of placements in a 3 year period, saved £2.2m through outsourcing temporary recruitment and setting up an in-house executive search function. Simon joined LBG in 2011. Since May 2013 as Head of Talent Acquisition Simon has built out a new Centre of Excellence function. Simon’s role and team is now responsible for developing the Groups Recruitment Strategy, policy, frameworks and tools. Prior to May 2013 Simon was Head of Executive Resourcing and was instrumental in launching internal talent search at executive levels for the group to increase internal hiring to over 70% of filled positions. He also implemented a new group wide executive search PSL, increased governance and control over the executive resourcing process, enhanced the approach to assessing and registering SIF approved persons and enabled enhanced use of data allowing insight and alignment to the groups talent strategies. Simon’s capabilities and ambition are demonstrated through taking leadership and technical roles. Simon took on a second grade G leadership role 7 months leading not only Executive Resourcing but also the change delivery team (30 people) which he led through a restructure whilst continuing to deliver key group programmes and transition work to new teams. Simon has implemented innovative resourcing strategies to deliver improved results and cost benefit through his teams. This strategy, improvement and change background has allowed him to develop strong influencing and presentation skills. His knowledge of a broad range of resourcing areas, taking on broader non resourcing roles and the commercial capability this has developed provide Simon with a skill set wider than pure operational resourcing management and delivery. Simon is driven to deliver outstanding results and transformation in the Resourcing and Talent areas and has ambitions to progress into bigger strategic and/or operational roles in the future. In the past Simon has worked with the Princes Trust to deliver employability coaching. He is married with 2 young children and is a keen golfer. 14
  15. 15. Benefits Deepened and more visible Talent pipelines Increase in internal placement numbers 2011 from 40% to 73% 2012 achieved 77% Progress on increasing numbers of internal female leadership moves 40% increase in placement of High Potential talent for both lateral and promotional moves at Executive levels in 2012 vs 2011 25% Reduction in cancelled and incomplete search fees Addressing engagement survey feedback about creating internal career and development opportunities Next Steps Development of lighter touch more automated approach to internal mobility for roles lower in the organisation 15
  16. 16. Thanks for listening Questions 16