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Hiring to Win: Secrets to Sourcing and Selecting Top Talent

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Savvy organizations know top talent is a critical driver of their ability to succeed. But at the same time, more and more top performing companies are concerned about talent shortages. They realize their ability to locate and land top talent will be a competitive differentiator in the years to come. What is your plan to win this war for talent?
Join Mollie Lombardi, research director for Aberdeen's human capital management practice, as she reveals findings from her 2011 study of talent acquisition strategies to help your company source, select and put to work the top talent that will power organizational results.

Published in: Business, Technology
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Hiring to Win: Secrets to Sourcing and Selecting Top Talent

  1. 1. Hiring to Win: Secrets to Sourcing and Selecting Top TalentSpeaker: Mollie Lombardi Research Director, Human Capital Management Aberdeen GroupModerator: Vijay Ramakrishnan Director of Product Marketing Taleo #TMwebinar
  2. 2. •  Q&A –  Click on the Q&A icon on your floating toolbar in the bottom right corner. –  Type in your question in the space at the bottom. –  Click on “Send.” #TMwebinar
  3. 3. Tools You Can Use•  Polling –  Polling question will appear in the “Polling” panel. –  Select your response and click on “Submit.” #TMwebinar
  4. 4. Frequently Asked Questions1. Will I receive a copy of the slides after the webinar? YES2. Will I receive a copy of the recording after the webinar? YES Please allow up to 2 business days to receive these materials. #TMwebinar
  5. 5. Hiring to Win: Secrets to Sourcing and Selecting Top Talent Vijay Ramakrishnan Director of Product Marketing Taleo #TMwebinar
  6. 6. Hiring to Win: Secrets to Sourcing and Selecting Top Talent Mollie Lombardi Research Director, Human Capital Management Aberdeen Group #TMwebinar
  7. 7. Hiring to WinSecrets to Sourcing and Selecting Top Talent Mollie Lombardi Research Director,Human Capital Management August 30, 2011
  8. 8. Mollie LombardiResearch DirectorAberdeen Groupq  Mollie is a researcher, speaker, writer and senior analyst in the human capital management field, with a primary focus on how organizations enable business success by unleashing the potential and productivity of their workforce. She has surveyed and interviewed thousands of end-users to better understand the key challenges facing today s HR and talent management leaders, as well as uncover the Best-in-Class strategies, capabilities, tools and technologies they are using to address those challenges. 8
  9. 9. Our Agendaq  Introduction & Overviewq  Map the Needsq  ItTakes a Villageq  Manage Risk by Building Talent Poolsq  Integrate Data to Fine Tune the Hiring Engineq  Wrap-up and Q&A 9
  10. 10. Drawn from our World Class AssessmentsResearch q  Publishing September 2011 q  Studied 506 organizations and their Talent Acquisition strategies q  Covering a wide variety of industries and geographies 10
  11. 11. Domain Expertise Communications Customer Enterprise Global Supply GRC/Financial IT Management Applications Management Management Infrastructure Business Human Capital Intelligence Management Supply Chain Service Retail and Product Manufacturing IT Security Management Management Banking Innovation and Engineering 11
  12. 12. 12
  13. 13. 13
  14. 14. Aberdeen Maturity Class Framework Selected Performance Best-in-Class - Top 20% Criteria (KPI) First Year Retention Industry Time to Productivity Total Average - Middle 50% Respondents:Change in hiring mgr satisfaction Laggard - Bottom 30% Respondents are scored individually across KPI 14
  15. 15. Aberdeen Maturity Class Framework P A C E q  What you need to do to Best-in-Class become Best-in-Class q  What processes you should have in place q  What you need to Industry measure Average q  Organizational changes you might want to make q  Data / Knowledge management Laggard considerations q  Technologies you should evaluate 15
  16. 16. Key Themesq  Map the Needsq  ItTakes a Villageq  Manage Risk by Building Talent Poolsq  Integrate Data to Fine Tune the Hiring Engine 16
  17. 17. Map the Needs 17
  18. 18. POLLq  Whatare the top pressures driving your current talent acquisition strategy? q  Shortages of required skills available in the labor pool q  Pressure to meet the company s growth objectives q  Retirement of baby boomers, and accompanying leadership voids q  Inability to retain new hires q  Increasing competition in the marketplace for top talent 18
  19. 19. Pressures Driving Talent Acquisition Efforts 60% All Respondents 52% 49% percentage of respondents, n=506 49% 40% 20% % Increasing competition Shortages of required Pressure to meet the in the marketplace for skills available in the company’s growth top talent labor pool objectives Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 19
  20. 20. Talent Acquisition Strategies 50% Best-in-Class 43% percentage of respondents, n=506 41% 41% Industry Average 35% 35% Laggard 34% 33% 31% 31% 25% 22% 22% 18% % Strengthen ability Proactively build Create a better Building a talent to identify talent candidate candidate acquisition most likely to pipeline experience culture succeed Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 20
  21. 21. 79%of Best-in-Class organizations have defined core competencies (skills, knowledge, and attributes) at the start of the hiring process Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 21
  22. 22. Where do Competencies Come From?q  Existing high-performersq  Company Valuesq  Forward Looking Strategy 22
  23. 23. Goals for the Use of Assessments 75% 70% All Respondents percentage of respondents, n=516 48% 46% 50% 25% 0% Improve business Deliver leaders to drive Improve organizational results through better innovation and growth fit among new hires quality candidates Source: Aberdeen Group, Assessments 2011, April 2011 23
  24. 24. Importance of Assessment Data for CriticalDecisions 4.5 Best-in-Class Industry Average percentage of respondents, n=516 4.2 4.1 Laggard 4.0 4.0 3.8 3.7 3.6 3.5 3.4 3.3 3.3 3.2 3.0 2.9 2.9 2.5 Who to hire Who is deemed Who to interview Who is promoted high-potential Source: Aberdeen Group, Assessments 2011, April 2011 24
  25. 25. It Takes a Village 25
  26. 26. Most Effective Sources for Candidates 4.5 Best-in-Class percentage of respondents, n=506 4.2 4.0 3.5 3.3 3.1 3.0 3.0 2.5 Employee An easy-to-use Online job boards Social networking referrals and and engaging sites networks company career portal Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 26
  27. 27. Hiring may slow or stop, but talent acquisition never does ~ Lou Manzi, Former Vice President, Global Talent Solutions, GlaxoSmithKlein 27
  28. 28. Nature of Talent Acquisition Strategy 60% Best-in-Class Industry Average Laggard 50% percentage of respondents, n=506 48% 44% 42% 40% 36% 33% 20% % Continuous - Identifying and Reactive - focused on immediate cultivating relationships with top hiring needs prospects is always a priority Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 28
  29. 29. Best-in-Class organizations are 72%More likely to cite building a corporate culture where everyone views talentacquisition as part of their job as a top strategy Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 29
  30. 30. What s in a Brand? 30
  31. 31. Supporting Capabilities 100% Best-in-Class All Others percentage of respondents, n=506 81% 79% 77% 75% 72% 65% 65% 54% 50% 50% 25% 0% Hiring managers Core Clear Critical job roles have visibility into competencies accountability for identified candidate status are defined onboarding process Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 31
  32. 32. Leadership Involvement in Onboarding 100% Best-in-Class Industry Average 83% percentage of respondents, n=282 Laggard 74% 75% 69% 52% 50% 41% 35% 29% 29% 23% 25% 0% Hiring manager Senior-ranking Buddy / mentor organizational executive Source: Aberdeen Group, Onboarding 2011, March 2011 32
  33. 33. Manage Risk by Building Talent Pools 33
  34. 34. Best-in-Class organizations are 44%more likely to have critical job roles (i.e. the roles that have the greatest impact on revenue / profit) identified Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 34
  35. 35. Impact of Identifying Critical Roles 60% Have Identified critical job roles 51% Have not identified critical job roles percentage of respondents, n=506 44% 39% 38% 40% 33% 26% 20% 0% Organizational goals New hires meeting time New hires highly achieved to performance goals engaged Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 35
  36. 36. Managing Candidate Relationshipsq  82% of organizations have a process to communicate with and nurture prospective employees but…q  Only36% of the Best-in-Class (and 27% of all others) indicate they have a formal candidate relationship management process - one that defines who communicates what and when Source: Aberdeen Group, Talent Acquisition Strategies 2010, August 2011 36
  37. 37. Top Candidate Relationship ManagementActivitiesq  Maintaining an engaging and informative company career portalq  Recruiters and hiring managers actively communicate with candidates via phone calls or personal emailsq  Utilizing software (such as candidate relationship management or an applicant tracking system) to regularly track all candidate communications Source: Aberdeen Group, Talent Acquisition Strategies 2010, August 2011 37
  38. 38. What About Social? 41 + 28 38
  39. 39. Social Talent Acquisition Strategies 80% 80% percentage of respondents, n=506 All Respondents 67% 61% 60% 40% 22% 20% % Organization Recruiters trained Social networking Success metrics maintains a on use of social is a critical part of defined for use of company profile networking tools recruitment social networking on social strategy tools networking sites Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 39
  40. 40. Integrate Data to Fine Tune the Hiring Engine 40
  41. 41. Most Valuable Measures of TalentAcquisition Success Most Important Metric Best-in-Class (Scale of 1 - 5: "1" is least valuable and "5" is most valuable) Rating Quality of hire 4.18 Customer satisfaction 4.07 Ongoing employee performance (i.e. long-term performance following the employees first review) 4.07 Hiring manager satisfaction 4.06 Employee engagement 4.04 Achievement of organizational objectives (MBOs or KPIs) 4.03 Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 41
  42. 42. POLLq  What is the most significant barrier your organization faces in linking source of hire to Employee Performance? q  Candidate data and post-hire data not linked q  Performance measures are not aligned to hiring criteria q  Candidate source data is not tracked q  Employee performance measures are not clearly defined 42
  43. 43. Barriers in Linking Source of Hire toEmployee Performance 59% 60% Best-in-Class All Others 60% percentage of respondents, n=506 40% 37% 29% 31% 31% 23% 23% 20% % Candidate data Employee Candidate source Employee and post-hire performance data is not performance employee data measures are not tracked measures are not are not integrated aligned to hiring clearly defined criteria Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 43
  44. 44. The Talent Lifecycle Learning Performance Succession Recruitment Onboarding Management Planning Assi gn e arly Competencies Source: Aberdeen Group 44
  45. 45. TheResults 45
  46. 46. Performance on Key Metrics 80% 77% Best-in-Class All Others percentage of respondents, n=506 64% 57% 60% 38% 40% 26% 25% 20% 0% Percentage of Percentage of new hires Employees receiving organizational KPIs or rating themselves as ratings of "exceeds" MBOs achieved "highly engaged" performance expectations Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 46
  47. 47. Performance Improvement on Key Metrics 15% Best-in-Class All Others 11% 10% 10% percentage of respondents, n=506 5% 2% 2% 0% 0% -1% -5% -7% -10% Customer Customer -9% satisfaction retention Time to hire Cost per hire Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 47
  48. 48. Key Themesq  Map the Needsq  ItTakes a Villageq  Manage Risk by Building Talent Poolsq  Integrate Data to Fine Tune the Hiring Engine 48
  49. 49. Thanks for your interest in our research!q  Mollie Lombardi Research Director mollie.lombardi@aberdeen.com 617-854-5216 49
  50. 50. Questions? 50
  51. 51. Questions and Answers Mollie Lombardi Research Director, Human Capital Management Aberdeen Group mollie.lombardi@aberdeen.com (p) 617-854-5216 #TMwebinar
  52. 52. Join Our Next TM WebinarWorkforce Optimization: Designing Your Talent Strategy for Exceptional Growth Thursday, Sept. 8, 2011 •  TM Webinars start at 2 p.m. Eastern / 11 a.m. Pacific Register for upcoming TM Webinars at www.talentmgt.com/events Join the Talent Management magazine Network http://network.talentmgt.com/ #TMwebinar

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