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Best Practices in Recruiting Today - High-Impact Talent Acquisition

Preliminary findings for Bersin by Deloitte 2013 High-Impact Talent Acquisition research. What drives business impact in corporate recruiting today? What are the top practices to focus on? Presented at iRecruit conference June 2013.

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Best Practices in Recruiting Today - High-Impact Talent Acquisition

  1. 1 High-Impact Talent Acquisition Process, Technology, and BigData Converge Josh Bersin Principal and Founder June, 2013
  2. 2  Who We Are - Global provider of leading practices, trends, and benchmarking research in talent management, learning, and strategic HR. - 60% of the Fortune 100 are Bersin by Deloitte research members, with more than 19.5 million employees managed by HR teams using Bersin Research.  Broad Research Practices • Human Resources • Leadership Development • Learning & Development • Talent Acquisition • Talent Management  Offerings - WhatWorks® Membership: Research, Tools, Education, Benchmarking - IMPACT®: The industry’s premiere conference on the Business of Talent - Advisory Services & Consulting Human Resources Leadership Development Learning & Development Talent Acquisition Talent Management
  3. 3 Agenda  State of Recruiting Today  The Research  Six High-Impact Findings 1. Build the Talent Brand 2. Create a Talent Community 3. Leverage the Science and Art of Assessment 4. Focus on Global Governance 5. Leverage Talent Analytics  Conclusions
  4. 4 State of Recruiting Today More spending, Many sources, Quality Suffering
  5. 5 Today’s Global Talent Challenges  “We have entered a global economy where talent and skills shortages challenge world economic and business growth around the world.” - Klaus Schwab, Chairman, World Economic Forum  Despite the high unemployment rates in many countries, more than 65% of global leaders cite “talent and leadership shortages” as their #1 business challenge. - Bersin & Associates TalentTrends®, Fall 2012
  6. 6 The War for The Best People
  7. 7 The Arms Race: Spending Up 6% © 2012 Bersin by Deloitte Talent Acquisition Factbook $1,378 $1,629 $3,318 $3,744 $4,540 $6,693 Healthcare Retail Banking and Insurance Technology Business Services Manufacturing ~$ 130 Billion Market - Total spending up 6% Average Spend in 2012: $3325 per Employee Average Recruiting Spend per Hire 55 Days Avg. Time to Hire
  8. 8 First Year Turnover Rates Increasing Engagement and Quality of Hire are Suffering © 2012 Bersin by Deloitte Talent Acquisition Factbook
  9. 9 Many Channels for Candidates Search aggregators, 8% Job boards, 18% Other, 2% Print, newspape r, billboards, 3% University recruiting, 7% Agencies, 3rd party recruiters, 9%Professional networking sites, 9% Company website, 14% Internal candidates, 18% Employee referrals, 14% Where Candidates Come From Bersin High-Impact Talent Acquisition, 2013
  10. 10 Traditional Sources Really Matter Where Talent Acquisition Dollars Go Contractors, 7% New hire relocation, 15% Travel, 5% Background checking, 9% Prehire assessments, 3%ATS, 5% Print, newspaper, billboards, 3%Professional networking sites, 4% Job Search aggregators, 1% Job boards, 10% University recruiting, 4% Employee referrals, 6% Agencies, 3rd Party Recruiters, 28% Down 14% © 2012 Bersin by Deloitte Talent Acquisition Factbook
  11. 11 Our Research: WhatWorks®?  Looked at tools, organization, structure, roles, process  More than 300 organizations participated  Outcomes we studied - Quality of hire - Time to hire - Business alignment  Detailed study to be published later this summer High-Impact Talent Acquisition
  12. 12 Key Findings “It’s the Basics that Matter Most”
  13. 13 Research: 8 High-Impact Practices Top 8 High-Impact Practices Impact 1. Carefully assess candidates against job requirements High (68x) 2. Maintain strong employment brand High (54x) 3. Develop and maintain candidate pools High (49x) 4. Deliver effective employee referral program High (35x) 5. Ongoing training for recruiters (and managers) High (33x) 6. Strong relationships with hiring managers Medium (18x) 7. Successful social media campaign Medium (19x) 8. Strong global governance Very High (40x) High-Impact Talent Acquisition®, Bersin by Deloitte, Summer 2013
  14. 14 Top Performing TA functions are also : Advanced Technology Matters Having an ATS is not a Differentiator but is Required: To use a Vendor Management System (VMS)2 Times More Likely To use a Candidate Relationship Management (CRM)2 Times More Likely To use a Workforce Planning/Analytics System (WPS)3 Times More Likely
  15. 15 Building a Talent Brand “Build a Recruiting Tunnel, not a Funnel” 1
  16. 16 Evolution of Employment Brand  From Employment Brand to Talent Brand  From CHRO to Chief Marketing Officer  From Website to Multi-Channel Marketing - Social - Web - Collateral - Advertising - Mobile - University - Alumni - Candidates themselves!
  17. 17 Unique
  18. 18 Attracting the right candidate in the right place quickly, efficiently, and consistently Importance of Global Governance Global
  19. 19 Integrated
  20. 20 RMS Career Website: Building the Brand Authentic
  21. 21 Multi-Channel
  22. 22 Mobile
  23. 23 Complete
  24. 24 Creating a Talent Community 2
  25. 25 What is a Talent Community? A Place to Engage with your Company: Four Audiences Prospective Candidates Past Candidates Current Employees Alumni
  26. 26 GM’s Silver Medalist Strategy “If we had another job, that person would get an offer.” Selection Process Creates Silver Medalist  Behavioral-based interview denotes candidate as a silver medalist  Recruiter meets a great candidate and there are no current openings that match individual’s skills set or desired location Place them in the Talent Community  Join the company’s talent community  Join the GM careers social space on LinkedIn or Facebook  Receive RSS feeds or emails when a job matching that’s candidate’s interest is available. “The sourcing team sends targeted emails when there are openings based on their interests. This keeps GM in their minds.”
  27. 27 Leverage the Science and Art of Assessment 3
  28. 28 Assessment Happens Everywhere Outside the Funnel: Goal = Attract Tools: Employment Brand, Sourcing, Advertising Top of Funnel: Goal = Screen Out Tools: Qualification Screen, Biodata, Fit, Realistic Job Preview, Resume Review Middle of Funnel: Goal = Evaluate, Screen in, Decide Tools: Personality, Cognitive Ability, Integrity, Knowledge, Skills, Situational Judgment (SJT), Simulations, Structured Interview, Physical Ability Bottom of Funnel: Goal = Verify Tools: Reference Check, Background Check, Drug Screen Physical Screen HIRES Onboarding LevelofInvestmentinCandidate Low High
  29. 29 How do Companies Hire People? 2/3 of hiring done without any significant assessment  Background checking: 79%  Managerial interviews: 64%  Interview training: 47%  Behavioral assessments: 34%  Reference calls: 32%  Skills-based assessments: 25% % of Organizations Which Regularly Use Following Assessment Practices Bersin & Associates High-Impact Talent Acquisition Study, Fall 2011, 158 organizations responded 2/3 use no real assessment process at all … leaving the process to hiring managers or recruiters
  30. 30 Cognitive Ability Friendliness and Leadership What Candidates will Best Drives Sales of Popcorn and Cosmetics?
  31. 31
  32. 32 GILD Entelo Next Generation Social Sourcing Remarkable Hire
  33. 33
  34. 34 Focus on Global Governance 4
  35. 35 Global Preparedness is Weak Two-thirds of TA organizations are not globally prepared 9% 9% 9% 6% 62% 59% 63% 56% 22% 29% 22% 37% Building or organizing a global TA function Establishing and leveraging a global brand Sourcing and recruiting talent in emerging countries Localizing TA programs to meet local needs Not Prepared at All Not Very or Moderately Prepared Very or Completely Prepared Moderately to Not at All - Avg. 68%
  36. 36 Why Global Process Matters  Define talent acquisition and management strategy  Build and organize the TA function and shared service  Select standard tools and service providers  Establishing a global and local brand  Implementing global TA technology  Developing local sourcing skills and suppliers  Localize the recruitment process  Onboard and hire diverse populations  Comply with local laws and regulations StrategyOperationLocalize
  37. 37 Structured Governance Matters Companies with a regular, ongoing process of stakeholder decisionmaking on budgets, plans, tools, process are: (compared to companies who use an episodic argument or business case for investment) Improving workforce decisions through metrics3 Times More Effective Actively building a “seat at the table”2 Times More Effective Time and Quality of Hire!3 Times More Effective
  38. 38 Talent Acquisition Functional Leadership Leaders - TM, CMO, BU/Department leaders, Finance, Operations, IT Recruiting Operations and HR Service Delivery Talent Strategy CHRO, CMO, Top Team • Sets TA Strategy • Aligns TA efforts across business units • Sets TA services and solution decisions • Includes advisory roles and teams • Align with CEO and Business Priorities • Allocate capital to big projects • Approves major people initiatives • Measure progress and results against plan • Cross-functional teams • Focus on executing the vision • Designs services or builds delivery plans, and manages system requirements or rollouts. Project/Ad hoc Engagement, Brand Update, Global Planning New Job/Acquisitions Standing Assessment, Sourcing, Candidate Management, Ad Management High-Impact Governance Model
  39. 39 Back Office, Operational, Contingent Employees Top Management Senior Management First Line Management Understand Talent Mobility SMEs (Consultants) Senior Specialists Functional Specialists / Front-Line Employees Middle Management
  40. 40 Back Office, Operational, Contingent Employees Top Management Senior Management First Line Management Implementing Talent Mobility SMEs (Consultants) Senior Specialists Functional Specialists / Front-Line Employees Middle Management Top Management Contract Hire Job Intern Developmental Assignment Lateral Promotion Stretch Assignment External AssignmentUpward Promotion Lateral Assignment New Assignment Part Time Loan New Candidate New Leader Exec Succession
  42. 42
  43. 43 Develop Recruiter Skills
  44. 44 Leverage Talent Analytics 5
  45. 45 Analytics is Definitely Coming to HR The Evolution of Business Analytics in other Functions The Industrial Economy The Financial Economy The Customer Economy and Web The Talent Economy Early 1900s 1950s-60s 1970s-80s Today The Waves of Business Analytics Steel, Oil, Railroads Conglomerates Financial Engineering Customer Segmentation Personalized Products Globalization, Demographics Skills and Leadership Shortages Logistics and Supply Chain analytics 1980s Financial and Budget Analytics Integrated Supply Chain Integrated ERP and Financial Analytics Finance & Logistics Customer Analytics – CRM (Data Warehouse) Customer Segmentation Shopping Basket Web Behavior Analytics Predictive Customer Behavior - CRM Customer & Marketing Recruiting, Learning, Performance Measurement Integrated Talent Management Workforce Planning Business-driven Talent analytics Predictive Talent Models HR Analytics Talent & Leadership
  46. 46 This Science is Coming to HR  Definition of “Science”: “Systematic knowledge of the world gained through observation and experimentation.”  What is Not Science Making talent decisions on the basis of “gut feel,” “beliefs,” or “philosophies.”
  47. 47 Big Insurance  A $33 billion insurance company has developed a behavioral assessment based on a set of beliefs held by the top executives  Top sales people need college degrees from top rated schools, they should have good grades, and they should have experience selling high value products.  But the data proves otherwise. Insurance Company
  48. 48 Results of Data Analysis 48 Insurance Company
  49. 49 Data Showed Six Things Matter: Very Highly Correlated with Success 1. No typos, errors, grammatical mistakes on resume. 2. Did not quit school before obtaining some degree 3. Had experience selling real-estate or autos 4. Demonstrated success in prior jobs 5. Ability to succeed with vague instruction 6. Experience planning time and managing lots of tasks The Belief System Was Wrong Within six months of implementing a new screening process revenues went up by $4 million What Did NOT Matter • Where they went to school • What grades they had • The quality of their references Insurance Company
  50. 50 An Evolved Organization VP Human Capital Analytics Director Org Diagnostics & Design (2) Sr. Consultant ODD Program Manager Director Workforce Analytics & Research Manager Workforce Analytics (2) Sr. WFA Analyst Manager Employee Research Analyst Employee Research Manager Learning Analytics Consultant Learning Measurement Analyst Learning Analytics Business Operations Specialist Manager HR Brand Content Retailer
  51. 51 High-Impact Recruiting  Integrate and optimize the talent acquisition process from beginning to end  Research and deliver a talent brand through multiple channels  Build talent communities and a great candidate experience  Develop global Governance and integrate with Talent Management  Build capability in assessment and BigData Analytics  Develop the skills and capabilities of your entire recruiting team High-Impact Talent Acquisition

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Preliminary findings for Bersin by Deloitte 2013 High-Impact Talent Acquisition research. What drives business impact in corporate recruiting today? What are the top practices to focus on? Presented at iRecruit conference June 2013.


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