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Making the Business Case for Investing in Talent Acquisition

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Making the Business Case for Investing in Talent Acquisition

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Is your current investment in talent acquisition positioning your company for long-term success? Companies that want to be successful must first understand the market conditions specific to their organization, understand their current hiring gaps and make an investment in creating an agile talent acquisition solution that aligns directly with business needs. The last step is creating a business case that can be shared with executives that will show the cost/benefit of investing in talent acquisition.

Is your current investment in talent acquisition positioning your company for long-term success? Companies that want to be successful must first understand the market conditions specific to their organization, understand their current hiring gaps and make an investment in creating an agile talent acquisition solution that aligns directly with business needs. The last step is creating a business case that can be shared with executives that will show the cost/benefit of investing in talent acquisition.

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Making the Business Case for Investing in Talent Acquisition

  1. 1. The Business Case for Investing in Talent Acquisition Planning Ahead
  2. 2. Your Presenters Jenifer Kihm, PhD Talent Acquisition Executive, Operant Consulting Jenifer Kihm is an experienced leader with strong expertise in human capital management. She has designed/re-engineered and implemented large and small talent acquisition functions with positive business results. She approaches the process of talent acquisition from a holistic perspective, beginning with good job design, and moving through the candidate sourcing, screening, selection and onboarding phases with proven methods. She incorporates key principles from the field of industrial organizational psychology and lean process, making her unique in the industry. Tim Oyer VP RPO Solutions, Advanced RPO Tim is an RPO veteran. For more than 20 years Tim has worked directly with clients to diagnose their talent acquisition programs and create a variety of long-term solutions to improve their talent acquisition strategies.
  3. 3. Today’s Objectives Understanding the Labor Market Advice Key Takeaways Indicators of and Ways to Build an Optimized TA Function 1 4 3 2
  4. 4. The Labor Market
  5. 5. What Does the Labor Market Tell Us Most prospective employees are currently employed Our recruiting functions need to have tools for finding individuals with target skills and experiences Most hires will come from direct pull strategies vs. push strategies (i.e., direct sourcing vs. posting)
  6. 6. What Does the Labor Market Tell Us (cont.) Extracting talent from other organizations will push salaries upward Employment brand matters ─ Glassdoor & Indeed Hiring more junior individuals and developing talent can be a competitive advantage
  7. 7. Key Indicators of TA Function Optimization
  8. 8. Hiring managers/ leaders have positive views 1
  9. 9. 2 Recruiters and hiring managers are colleagues
  10. 10. Manager interview- to-hire ratio is low 3
  11. 11. Offers extended get accepted 4
  12. 12. Positive interview ratings on Glassdoor and Indeed 5
  13. 13. Appropriate cost-per-hire OPTION 2 6 COST-PER-HIRE
  14. 14. 7Appropriate time-to-fill
  15. 15. OUR COMPANY BENCHMARK COMPARISON ThroughputRatios Throughput information is accurate and utilized 8
  16. 16. Ways to Optimize • Have well developed job descriptions • Establish launch calls as business discussions • Track candidate opt-out at every stage of the hiring process ⎼ share the info • Present candidates “live” and reduce reliance on resumes alone • Educate hiring managers on their complete role ⎼ decision-maker AND ambassador • Establish the optimal requisition load per recruiter and maintain it
  17. 17. Questions? Key Takeaways
  18. 18. Advice Do not consider talent acquisition to be a support function Do not under spend (and don’t over spend) DON’T DO Expect full partnership between managers and recruiters Consider RPO
  19. 19. Lamees Abourahma President Office: 804.897.1310 Mobile: 804.638.4448 lamees@rpoassociation.org Hiring is one of the most important things a company does ⎼ make a commitment to be great at it Tim Oyer Vice President Office: 312.632.6160 Mobile: 419.672.9053 toyer@advancedrpo.com Jenifer Kihm Managing Director Operant Consulting, LLC Direct: 713.560.7780 jenifer.kihm@operant.net Contact Us:

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