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The Quest to Quantify: Measuring the impact of your Talent Brand

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This presentation was used at Talent Brand Workshops at LinkedIn in September 2015. The content for this presentation was derived from the LinkedIn ebook of the same title.

Published in: Recruiting & HR
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The Quest to Quantify: Measuring the impact of your Talent Brand

  1. 1. The Quest to Quantify: Measuring the impact of you talent brand
  2. 2. Todevelopa completemind: Studythescienceof art; Studytheart of science. Learnhowto see. Realizethateverything connectsto everythingelse.
  3. 3. believe talent brand strength makes a “significant impact” on ability to hire 77% Average reduction in cost per hire 50% Average reduction in turnover 28% talent professionals who say talent brand is a top priority in 2015 56% We know that Talent Brand is important Source: LinkedIn Global Recruiting Trends Report, Nov 2014
  4. 4. Candidates tell us it’s important Source: LinkedIn Talent Trends Report, March 2014 Reputation as a “great place to work” Reputation for “great products / services” Reputation for “great people” Reputation for “being prestigious” 56%
  5. 5. But how do you prove your talent brand is important?
  6. 6. 1. Learn the language 2. Find your partners 3. Measure what matters 4. Beware of pitfalls 5. Get started 6 5 Steps to measure your talent brand
  7. 7. Learn the Language Step One
  8. 8. 8 Employer Brand n. How you, the employer, promote your company as a place to work
  9. 9. 9 Talent Brand n. the highly social, totally public version of your employer brand incorporating what talent thinks, feels, and shares about your company as a place to work a significant asset for both hiring/retaining great talent and promoting your corporate image to the market
  10. 10. 50% of professionals around the world discover new job opportunities through word of mouth
  11. 11. Find Your Partners Step Two
  12. 12. 13 Company brand and talent brand are two sides of the same coin.
  13. 13. LinkedInTalentBrandIndex Lippincott Customer BrandView Index 36% 28%-6% 10% HighLow HighLow Cumulative Growth in Shareholder Value over 5 years:
  14. 14. 15
  15. 15. Measure what Matters Step Three
  16. 16. 17 However beautiful the strategy, you should occasionally look at the results. Winston Churchill
  17. 17. Know the goal: Attract Engage Pipeline
  18. 18. 6.3 million
  19. 19. Reputation aside, you should know what those open roles are costing your company 20 What’s your cost of vacancy? Average Daily Revenue per Lost Employee = Daily Revenue Lost = Daily Revenue Lost = (Total Annual Revenue ÷ # of employees) 250 working days per year Position’s salary 250 working days Simple Salary Multiplier X Total Annual Revenue Generated by Position 250 working days
  20. 20. 4 simple metrics
  21. 21. 22 Metric 1 Social Media Follower Quality Know who your followers are: Function Seniority Industry Company size Adapt your talent brand strategy for different audiences
  22. 22. Track targeted follower change as part of overall follower growth 23 Tips for visualizing your success
  23. 23. Plot campaigns against key success metrics to see correlation 24 Tips for visualizing your success 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 0 50000 100000 150000 200000 250000 300000 350000 400000 450000 Impressions served Followers
  24. 24. 25 Metric 2 Talent Response Rate If you’ve effectively built awareness, you should expect a higher response rate among priority talent pools. Company page followers are 81% more likely to respond to an inMail
  25. 25. 26 Global e-commerce company has huge uptick in response rate from engaged talent
  26. 26. 27 Tips for visualizing your success Track response rate over time to see trends As your talent brand strengthens, you should see an increasing response rate from targeted talent pools 13% or below  evaluate your inMail strategy
  27. 27. 28 Metric 3 Applicant quality Who are the quality candidates for you? Subjective  What does it mean to your company? Good fit for the company Good fit for the role
  28. 28. Stack quality vs. non-quality candidates on a chart 29 Tips for visualizing your success 0 10 20 30 40 50 60 70 Week 1 Week 2 Week 3 Week 4 #ofapplicants Non-quality Quality
  29. 29. 30 Metric 4 Time to hire Your talent branding activities should build a strong pipeline and start more conversations with qualified talent, thereby lowering your time to hire. Company with a strong talent brand on LinkedIn report a 20% Faster rate of hire
  30. 30. 31 Tips for visualizing your success Track time to hire as a whole, or for specific roles Time to hire for engineering roles Time to hire for engineering vs. all roles 0 5 10 15 20 25 30 35 40 Week 1 Week 2 Week 3 Week 4 Week 5 Days Engineering - time to hire 0 5 10 15 20 25 30 35 40 Week 1 Week 2 Week 3 Week 4 Week 5 Engineering - time to hire All roles - time to hire
  31. 31. 32 Bonus Metric New hire alignment Monitor the authenticity of your talent brand with a new hire alignment check
  32. 32. 33 Survey new hires Did their expectations match reality? Has your experience working here matched your expectations? Scale: 0 (not at all) – 5 (highly matched) “Please explain why you selected that choice” so you can gain additional insights.  Send 90 days after start  Ensure anonymity for honest answers  Tools like Google Forms or SurveyMonkey are free and easy
  33. 33. Graph alignment over time, preferably by function 34 Tips for visualizing success 0 0.5 1 1.5 2 2.5 3 3.5 4 4.5 Q1 Q2 Q3 Q4 AlignmentScore Sales Marketing IT HR
  34. 34. 35 Seeing poor alignment? Tips on how to adjust 1. You’re not sharing enough 2. Need to course-correct “You have to embrace who you are, in all its hideousness or all its glory. Because that’s who you want to attract—talent with that shared passion and shared ideology.” Ed Nathanson - Founder Red Pill Talent
  35. 35. Step 4 Beware of pitfalls #1: Forgetting that branding is both a science and an art #2: Measuring for the sake of measuring #3: Analysis paralysis
  36. 36. 37 Step 5 Get Started • Identify a new partner • Pick a new metric to incorporate into your talent brand measurements • Start tracking and adjust as needed
  37. 37. ©2014 LinkedIn Corporation. All Rights Reserved.

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