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![1. FOOD FOR THOUGHT
FOOD FOR [thought]](https://image.slidesharecdn.com/black-slate-churn-rec-agencies-150422031357-conversion-gate01/85/Churn-in-recruitment-not-just-a-message-of-bad-news-3-320.jpg)
Churn in recruitment: not just a message of bad news
- 1. April 2015 Original presentationfrom RDLC session James Del-Gatto | Black Slate Your Employer Brand Churn, more than just bad news
- 2. ON THE MENU Foodfor Thought Questions to stimulate Churn • The secret KPI • Bite-size lessons Expert help • Here to help you with your toughest problem • Case study Food for Thought Questions to stimulate Churn • The secret KPI • Bite-size lessons Expert help • Here to help you with your toughest problem • Case study Food for Thought Questions to stimulate Churn • The secret KPI • Bite-size lessons Expert help • Here to help you with your toughest problem • Case study
- 3. 1. FOOD FORTHOUGHT FOOD FOR [thought]
- 4. IMAGINE YOU AREA ROOKIE • If you had three offers on the table, one of which is your brand, are you sure you’d take your brand’s offer? • Can you sell your brand convincingly?
- 5. THE PROBLEM Each newrecruit will either cost you £60k – or has the potential to earn you millions.
- 6.
- 7. 2. CHURN NAME DESTINATIONSTATUS John Mary Sue Stevie Jack Danny Sarah Yasmin COMPETITOR COMPETITOR COMPETITOR COMPETITOR COMPETITOR COMPETITOR COMPETITOR COMPETITOR CANCELLED DEPARTED DEPARTED DELAYED DEPARTED CANCELLED DEPARTED CANCELLED
- 8. BEST HEALTH-CHECK BUSINESS HEALTH Measuringoverall business health is difficult CHURN RATE Measuring churn is very simple and is symbolic of so many factors – tangible and intangible
- 9. JUDGING LINE MANAGERS •Judging and rewarding your line managers is a top priority • Their impact on churn is huge • But how can you do this objectively and simply?
- 10. WHAT YOU AREJUDGING RECRUITMENT TRAING & DEV EARNINGS CULTURE
- 12. MAKE CHURN AKEY KPI • Measure churn • Reward and consequences based on churn rates • Make it part of your own bonus • Ensure tension between growth and retention Your churn is 60%!
- 13. COMPLEMENT CHURN STRATEGY REFSCHEME • Referral scheme at SThree No. 1 source of talent • Best retention and performance • And NO Rec 2 Rec fees! • Success of your referral scheme, good sign of employee engagement
- 14.
- 15. HOW WE CANHELP REF SCHEME CHANGE MARKETING BRAND
- 16. CREDS: OYSTER PARTNERSHIP Re-brandedbusiness and defined the whole brand both internally and externally. Increased retention and quality of new staff. “James helped us transform our business, retention is up and better quality staff are applying” Jack Barton, MD of Oyster Partnership
- 17. SUMMARY • High churnmakes scaling and replicating your business almost impossible • Churn should be a top KPI • But, there are methods to address it Next steps • If you have a problem with churn, and you don’t know where to turn, then call Black Slate…
Editor's Notes
- #2 Good lunch, here’s for an after dinner treat a cure for recruitment and retention
- #3Â 1, food for thought 2. Churn secret KPI 3. But help is at hand
- #4 Let’ start thinking about this problem
- #5 Question: To get into the right mind-set, imagine you are a rookie, you’ve succeeded in getting three offers - which needs a decision by Monday morning. You want to spend two years learning to be consultant at one great company. And earning consistently well. It’s your second job, you’ve checked out the offers, the careers pages, the Glassdoor reviews , checked in with friends on Facebook and it’s time to make a decision, three offers on the table and one of them is with your company. Would you choose your business? I won’t embarrass you by asking for show of hands, feel free to nod or shake your head. Well today I’ll run through my experience to help your business win the right talent.
- #6Â Recruitment has a high churn of staff, at SThree we estimated each rookie consultant lost after recruitment and training that was lost before good billing cost us ÂŁ60k +. But of course the ones you get right can earn you millions
- #7Â Is it any coincidence that most recruitment businesses stay small, and that the average churn rate in our sector is 55%. I will share with you today my experience of the problem, in particular at SThree.
- #8Â What can we do with it and about it.
- #9 BUSINESS HEALTH Measuring overall business health is Difficult CHURN RATE Measuring churn is very simple and is symbolic of so many factors – tangible and intangible
- #10Â JUDGING LINE MANAGERS Judging and rewarding your line managers is a top priority Their impact on churn is huge
- #11Â You want to know if your line managers are performing well, and beyond sales GP there are some important and trick dimensions Some tangible get hold of and some less so Bullet proof recruitment Training and developing staff Platform for earnings success Great office culture
- #12Â And the answer to all of these problems Big unveil
- #13 Make Churn a key KPI Measure churn, make it one of your top KPIs Ensure line managers are Rewarded for good churn and there consequences for high churn rates Make it part of your own bonus – S3 exec board were Ensure tension between growth and retention
- #14 And to complement your retention strategy your ref scheme Referral scheme at SThree No. 1 source of talent Best for retention and performance And NO Rec 2 Rec fees! Success of your referral scheme, good sign of employee engagement SThree’s success built on referrals Scientific analysis – two profiles : grads with sales experience and referrals: because trust was so powerful
- #15Â But you are busy managers some times even Superman needs help
- #16 I can help you build your employer brand internally and externally Build your employer brand – craft and market your Employee value proposition - your promise to talent Design, create, implement and communicate your referral scheme Manage change Marketing: clients, candidates, employees current and future
- #17Â Case study Oyster recruitment company of 30 staff working property private and public Wanted to grow from 30 to 60 Developed their brand inside and out Their message to market Their staff handbook, even their recruitment service Developing marketing function and content marketing Recruitment and retention improved staff proud of their brand
- #18 Summary High churn makes scaling and replicating your business almost impossible Churn should be a top KPI But, there are methods to address it Next steps ( a team voice) If you have a problem with churn, and you don’t know where to turn, then call Black Slate…