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Ere moneyball deck 12 15-2011 deck for slideshare
The document discusses applying a "Moneyball" approach of data-driven decision making to talent sourcing and recruiting. It presents data on source effectiveness from the Jobs2Web dataset, ranking sources based on the number of visitors, applications, interviews, offers, and hires per source. Social networks and job boards require many more visitors to generate a hire compared to referrals or career sites. The document advocates moving from conventional wisdom to using metrics to understand the hiring process and best optimize sourcing.
Ere moneyball deck 12 15-2011 deck for slideshare
- 1. Moneyball Sourcing Looking atSourcing Through the Lens of Moneyball
- 15. Moneyball Sourcing Looking atSourcing Through the Lens of Moneyball
- 17. The Recruiting Version of Sabermetrics TalentBrew Dashboard Jobs2Web Dashboard • Use data in new ways • Move from “a gut feeling” to data driven decisions • Both presentations are on ERE site
- 18. VISITS 2 FOLLOWS SEARCHES SEES JOB CAREER ON GOOGLE THEY LIKE 1 SITE TWITTER 3 4 SENDS SEES WORK JOINS GOES TO APPLIES TO FRIENDS WITH ME TALENT LINKEDIN JOB #1 INMAIL JOB ON LI COMMUNITY 5 6 FRIEND #2 FRIEND #1 GETS JOB APPLIES TO SAYS STAY REFERS TO 7 ALERT JOB #2 ON 8 AWAY RECRUITER FROM TC MOBILE FRIEND #1 GETS EMAIL SAYS OK FROM RECRUITER TELLS ABOUT 9 SEES JOB PLACE RECRUITER JOB #3 TWEET 10 WHO GETS GETS HIRED APPLY TO #4 CREDIT? FOR JOB #4 VIA TWITTER Source: ERE Recruiting Innovation Summit 2011
- 20. WIIFM 1. A differentway of thinking about data—metrics that are useful 2. A great way to impact current hiring needs and pipeline for future 3. A little clarity in the complex world of sourcing & recruiting
- 21. 1.Challenge Conventional Wisdom 2.The Science of Winning 3.Adapt or Die Call to action: Courage to Believe the Data
- 22. Challenge Conventional Wisdom 1. Job Boards Are Dead 2. Passive Candidate Are Best 3. Lost Faith in “Post & Pray”
- 23. Job Boards AreDead 1 Career Site 2 Industry Groups 3 Job Boards Source: Job Seeker Attitudes effective source Mastering Internet Job Board is the fourth most and Behaviors; source of hire Jobvite: Job Board is the 2nd most effective of hire Recruiting Staffing.org 2009
- 24. Passive Candidate AreBest Source: Corporate Executive Board-The Benefits of Passive Sourcing and Candidate Relationship Management Systems 2009
- 25. Lost Faith inPost & Pray
- 26. Review Moneyball Lesson#1 Challenge Conventional Wisdom The Science of Winning • Job Boards Are Dead • Data driven decision • Passive Candidates • Same data, different Are Best lens • No Post & Pray • Clarity on the other side of complexity
- 27. The Science ofWinning 1. Move from “a gut feeling” to data driven “Paul DePodesta concluded it decisions would take 95 wins to make the playoffs. He then 2. Sabermetrics (Use calculated how many runs same data in new the A’s an important as a score Walk is would have to hit. ways) • The more hitters avoid than they allowed; 135. (The 3. Clarity on the other striking out and force the team would need to a pitch to pitcher to give them score side of complexity: between 800 and the more hit or walk them, 820 runs Scoring was a and give up base. runners on between 650 & process, not a talent 670 runs).” players on base, the • The more Moneyball; Michael (RBI); Get on base and higher the likelihood or of Lewis create conditions for runs and wins. • Walk turns out to be as the next step valuable as a hit.
- 28. The Science ofWinning 1. Move from “a gut feeling” to data driven decisions 2. Recruiting data & metrics--Use data in new ways 3. Clarity within the complexity How many visitors will it take to meet the demand of our workforce plan & what is the best source
- 29. Jobs2Web Dataset • 51million visitors • 3.7 million applications • 63,660 hires • Notice how many visitors, applies are actually taking place—799; 77; 57; 10 • >1% begin the application process; .07 actually apply for a job; and .01 will interview
- 30. Science of Winning-Job2Web Benchmark Metrics Metric Result # visitors 799 # apps 77.2 starts # apps 57.6 completed # qualified 10.3 # 3.6 interviews # offers 1.2 made # hires 1.0
- 31.
- 32. Ranking the Sourcesof Hires # # # Interviews Qualified# qualified # interviews efficiency Prospects Source Visitor Source Visitors Per Hire intervie Source qualified s /hire ws Per Hire Per Hire Facebook 400 Facebook 4.8 2.2 Facebook 4.8 2.2 45 Career Site 407 Search Engines 6.9 2.9 Search Engines 6.9 2.9 42 1 Industry Groups 472 Career Site 8.2 3.3 Industry Groups 10.1 3.1 30 5 Major Boards 621 Industry Groups 10.1 3.1 Career Site 8.2 3.3 40 2 Niche Boards 880 Social Media 15.8 5 Job Aggregators 19.3 4.3 22 Social Media 899 Major Boards 17 4.8 Major Boards 17 4.8 28 Search Engines 1224 Niche Boards 18.1 5.9 Social Media 15.8 5 4 31 LinkedIn 1354 Job Aggregators 19.3 4.3 Niche Boards 18.1 5.9 3 32 Job Aggregators 2186 LinkedIn 31.4 9.1 LinkedIn 31.4 9.1 28
- 33. VISITS 2 FOLLOWS SEARCHES SEES JOB CAREER ON GOOGLE THEY LIKE 1 SITE TWITTER 3 4 SENDS SEES WORK JOINS GOES TO APPLIES TO FRIENDS WITH ME TALENT LINKEDIN JOB #1 INMAIL JOB ON LI COMMUNITY 5 6 FRIEND #2 FRIEND #1 GETS JOB APPLIES TO SAYS STAY REFERS TO 7 ALERT JOB #2 ON 8 AWAY RECRUITER FROM TC MOBILE FRIEND #1 GETS EMAIL SAYS OK FROM RECRUITER TELLS ABOUT 9 SEES JOB PLACE RECRUITER JOB #3 TWEET 10 WHO GETS GETS HIRED APPLY TO #4 CREDIT? FOR JOB #4 VIA TWITTER Source: ERE Recruiting Innovation Summit 2011
- 34. Science of Winning-Clarity FirstBase might be signing up for an email list, an RSS blog feed or Jobs2Web talent network
- 35. Science of Winning-Clarity Secondbase might be following us on Twitter, or a “like” on Facebook
- 36. Science of Winning-Clarity Thirdbase might be joining a community or downloading whitepaper
- 37. Science of Winning-Clarity Crossing “homeplate” is the result of several smaller moves
- 38. Review Moneyball Lesson#2 Science of Winning Adapt or Die • Data driven decision • Source efficiency”- evaluated the source of • Same data, different talent lens • Knew who was available-developed • Clarity on the other own database side of complexity • Built a “farm system”- • immediate needs, but also strategic about the future
- 39. Adapt or Die •“Source efficiency”- evaluated the source of talent • Knew who was available-developed own database • Built a “farm system”-immediate needs, but also strategic about the future
- 40. Adapt or Die • Consistent Message: Brand Message must be consistent as the audience is always changing (remember who our audience is…..) • Social Contract Broken: People naturally break into affinity—no employer loyalty • Strategic Sourcing: Need to think immediate, as well as, long term
- 41. Marketing Axiom “only 10%of website visitors or searchers are ready to engage, make a purchase decision, or opt-in right away; but over the course of the subsequent 12 months, with the right value- added communication, that number skyrockets to 87% Sent 4 email 39% audience > 2.5 times > 3.5 times invitations over click through more visitors more prospects 6 months rate Source: BtoB magazine, 2004
- 42. Target Audience Behavior % Audience Once Per Year Less than once 9% per year Once Every Six 14% Months Once Per Week 16% 60% of passive candidates 11% want to hear about jobs at Once Every least every 3 months Several Times Three Months Per Month 14% 15% Once Every Once Per Two Months Month 9% 12% Source: CLC Recruiting 2010
- 43. Target Audience Behavior Source:2011 Corporate Recruiting Reports Candidate Attitudes and Behaviors Staffing.org
- 44. Social Contract Broken Our data shows that candidates have increasingly accepted the inherent uncertainty of the working world and are programming their careers accordingly. They don’t believe in the old social contract any more than employers do. For both parties “forever” is a conditional term: nice to hear but undependable. Source: 2011 Corporate Recruiting Reports Candidate Attitudes and Behaviors Staffing.org
- 45. Strategic Sourcing Jobs2Web Dataset 1. 10 large customers with 8800 hires during 2011 from their talent network 2. This data illustrates that while 57% of applicants that are hired apply for a job on the first day, 43% of hires actually at some point in the future. 3. The data also documents that in many cases, it is the “job alerts” (drip marketing) that trigger the apply. 4. Conclusion: theory, research maps to reality. • theorem says drip marketing works. • people want iterative messages • data shows results
- 46. Source 0 days 1-30 31-60 61-90 >90 Total >1 >30 Career 3105 729 339 250 827 5250 41% 27% Site Career 469 105 49 30 77 730 36% 21% Site Services Direct 677 168 105 78 327 1335 50% 34% Search 332 129 43 24 136 664 50% 31% Engine Email 135 36 4 10 34 219 38% 22% Job 107 53 12 11 60 245 56% 34% Aggregat or Total 5050 1288 566 417 1533 8854 % total 57% 15% 6% 6% 17% 100% 43% 28%
- 47. Apply Starts vs.Apply Completed Metric Result # visitors 799 Great way to market # apps 77.2 starts to the 2% of applies # apps 57.6 that do not complete completed the process # qualified 10.3 # 3.6 interviews # offers 1.2 made # hires 1.0
- 48. What Is ATalent Community? Capture Passives Drive Boomerang & Apply Drop Offs Hires & Viral Magnets to Referrals attract prospects Automate Drip Re-Recruit Past Marketing To Applicants & Drive Prospects Viral Referrals Automate Drip Centralize & Automate Marketing To Recruiter Contact Prospects Marketing
- 49.
- 50. 1. Talent Network(community) has become the 4th largest source of hire 2. Over 17 months, the number of applies by the members of the talent community grew significantly 3. Not only did the # of applies grow, the number of candidates that it takes to make a hire decreased
- 51. Review Moneyball Lesson#3 Adapt or Die Courage to Believe the Data • Consistent Message: Brand Message must be consistent as the audience is always changing (remember who our audience is…..) • Social Contract Broken: People naturally break into affinity—no employer loyalty • Strategic Sourcing: Need to think immediate •
- 52. Courage to Believethe Data • Taking action on data
- 53. Resources • Jobs2Web—Doug Berg,Jon Greene, & Steve Shaffer • David Earle of Staffing.org • The Corporate Executive Board Company—CLC Recruiting
- 54. Ask Questions TalentCommunities Join Talent Community Development Group on LinkedIn
- 55. Thank you toERE Media Sponsor: ICIMS Marvin.smith@gatesfoundation.org http://www.facebook.com/#!/marvin.smith http://www.linkedin.com/in/marvsmith @talentcommunitiy Talent Community Development Community http://www.linkedin.com/groups?gid=1148747&home=