Talent Acquisition: Process, Technology, Big Data Converge
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This document summarizes the key findings from research on high-impact talent acquisition practices. The research found that the most effective organizations focus on building a strong talent brand, developing talent communities, leveraging assessment science, implementing global governance structures, and utilizing talent analytics. These organizations were much more likely to improve quality of hire, reduce time to fill positions, and better align their talent acquisition processes with business goals. The document outlines strategies in each of these areas that leading companies employ to transform their talent acquisition functions into competitive advantages.
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Talent Acquisition: Process, Technology, Big Data Converge
- 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
- 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
- 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
- 41. 41 Managing Talent Mobility DESIRED COMPETENCIES (KNOWLEDGE, BEHAVIOR, SKILLS) OPEN POSITIONS & OPPORTUNITIES INDIVIDUAL NEEDS / DESIRES INDIVIDUAL DEVELOPMENT PLAN (IDP) VISION STRATEGIC INITIATIVES DESIRED BUSINESS OUTCOMES VALUES MISSION ORGANIZATION NEEDS MOBILITY STRENGTHS DEVELOPMENT NEEDS CAREER ASPIRATIONS ANNUAL GOALS Succession Management Coaching Assessment Strategic Competencies Organizational Planning / Restructuring Performance Management Individual Development Plan (IDP) Career Management
- 42. 42
- 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 http://www.bersin.com/Predictions2013 High-Impact Talent Acquisition
Editor's Notes
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.
- The fourth topic to discuss in localization is talent acquisition. We are in a war for talent around the world.
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.
- $35MM project, saving $15MM per year. New global platform and process, implementation of global assessment solutions from SHL Previsor which has dramaticaly improved quality of hire.Biggest lesson here is what I talked about last year – creating a recruiting tunnel not funnel. American express is learning to “fish in the right pond” - no longer looking for people with call center experience, but rather looking for people with a “passion to serve” – now recruiting directly from high-end hospitality companies like the Four Seasons and Marriot.
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.
- Moderately to Not at All Very or Completely.37 .62.22 .72.29 .68.22 .71companies that report being more prepared at: Building or organizing a global TA functionEstablishing and leveraging a global brandSourcing and recruiting talent in emerging countriesLocalizing TA programs to meet local needsalso report higher levels of agreement (agree/strongly agree) that their company: Predicts external forces and remain agile to reconfigure their workforce. (n=170)Invests in new products or services to reach higher levels of recruiter and overall TA performanceActively builds a “seat at the table” role – Improving TA’s alignment and/or influencing the overall direction of the businessImproves workforce decisions through pertinent (organizational driver) and consistent metrics. Key Point: No difference among companies with different TA structures
- 2-4 as many companies rated themselves as above average or excellent in key business measures when a well developed governance model is in place.
- Today’s workforce is more diverse than ever – in age, expectations, location and mobility. Our research shows that 70% of organizations are still recruiting baby boomers, while 30% will still consider hiring a candidate who has inappropriate postings on social media. Further, our new High Impact HR research shows that organizations with mixed age work forces perform better than those that are highly skewed toward younger or older workers.Nearly every organization we work with is looking for ways to grow. Whether this is geographical or line of business expansion, HR professionals are striving to develop workforces that can manage through ambiguity and rapid change. This is whyAT&T chose Bersin to redesign its performance management system, resulting in a 15% improvement in productivity in the first two yearsWhen Pfizer merged with Wyatt, they looked to Bersin to effectively consolidate two training groups into one organization, 2/3 the size of the previous team. This group cut training costs by 32% while creating innovative, high performing learning programsJetBlue University transformed their training team from request managers to performance consultants by using Bersin’s research to create a business alignment tool that ensures that the University’s resources are spent on strategically significant programs.