2. What is Worldpay?
2
£450 million
invested in
technology
£308 million
invested in M&A
13.1 billion
transactions
processed
42% UK market
share
Employees in 25 locations worldwide
Offering products and
solutions to global
merchants & SMEs
2
I’m Catherine Schlieben and I’m the Group Talent Acquisition Director at Worldpay. I’ve been in this role for getting on for 3 years and lead a team of around 35 recruiters in London, Atlanta and India. My background for a number of years has been recruitment on the agency side, until 6 years ago when I had the opportunity to set up the recruitment function at ITV. I then moved on to Worldpay where there have been some very different challenges, leading me to question how we drive applications for our roles in a market where we are not well known as a great employer, and where the number of different channels has increased hugely and the noise keeps getting louder and louder in a very candidate driven market.
Just briefly, if you haven’t heard of us, we are one of the World’s leading payment companies. Our technology makes it easier for customers to take payments whether face to face or online. We operate globally, managing 120 different currencies and more than 200 payment types. In our current form we are around 6 years old. We have grown the business to around 5000 employees from virtually no-one when we separated across the globe in multiple locations and we’re and growing at rapid pace each year – overall the team has been hiring just under 2,000 hires each year. In October last year we IPO’d and 2 months later we were a FTSE 100 company. But don’t let this mis-lead you. We are not a big brand. Had to work to fill these 2000 roles a year. It’s all through direct sourcing, no agencies, or very few. Therefore reliant on direct advertising and blood, sweat and lots of tears.
Just to put some context around this presentation and why I’m standing here talking about aggregators, I thought I’d describe some of the challenges that we have faced over the last couple of years as a TA team. In spite of the recent noise over IPO and the coverage around us being the largest Fintech float etc, including tweets from the PM, we do not have a clear employer brand – we came out of RBS and whilst we re-branded 2 years ago we had not developed a clear EVP.
When I joined, both perm and contingent recruitment was run through an RPO model which I spend my first year transitioning away from. We wanted to bring the recruiters closer to the business and for everyone to be more accountable. As I mentioned previously, we have also experienced high growth in terms of people and business. Our tech function has expanded with the development of new platforms and the desire to move to a more agile product and engineering led organisation. With the growth, at speed, and the changing culture has also come attrition. Great for keeping a recruitment team in employment of course, but it also becomes very pressurised and at the top of the agenda from the CEO downwards.
So, we now have around 36 recruiters globally who are all WP colleagues. The contract piece is still outsourced.
Very recently we put in a truly global model for the TA team and we’re working on one strategy, aligned processes and methods of assessment – with local variations where required. We also have a real appetite now to try new things. We are developing our employer brand with new partners – TMP because of the strength of their creative team, their insight capability and their global reach. They have also carried out a really interesting piece of research with our existing, past and potential candidate market for developers. This is helping us to drive our brand strategy in product and engineering certainly. We have also changed our ATS . We’re using Job Science, because for us it gave us………………This highly flexible system, with great tracking and tagging has allowed us to think more freely about how we drive applications as well as giving us a workable database for the first time!
This brings me on to what I’m focusing on today.
So, I’m here to talk about how the effective use of aggregators can really help us as employers drive applications.
“We’ll start with a quick recap of how the different types of aggregator work, so we can fully understand the potential benefits for us as employers…”
I’ll give you the live example of how we’re making this work for us, and I’m
“Really keen that by the end of this short presentation you’ll understand how to get started with aggregators…”
Just before we get started, I just want to explain why I felt this was worth talking about. I go to a lot of conferences and the recurring themes at the moment are around employer branding, talent pipeline and building innovative graduate campaigns, etc. Whilst there are all very important subject and have been incredibly useful in building my strategy and improving our productivity, in my experience the most pressing issue day to day for Recruitment Managers is how they can get candidate applications directly and fill their vacancies. This presentation goes to the heart of that process: attracting candidates to live vacancies in a controlled, scalable and cost-effective way.
Add indeed stats – Thomas providing
Aggregators are the largest recruitment sites in the world. They are bigger than Expedia but smaller than Facebook and Google and have been identified as a growing channel and they are key to the candidate journey. And yet, very few employers are using them to create the best opportunity.
So, how do they work?
You will all recognise this I’m sure. Expedia is an aggregator. They scrape the flight details from a large number of sites and put them into one space for us to then select easily.
Trend all of the internet – shopping, holidays, mortgages, loans... everything is aggregated onto comparison sites which are easier for the customer, or candidate...
Recruitment aggregators work in the same way, taking jobs from lots of different places (employers, recruitment consultancies and job boards) and putting them in one place… much easier for candidates!
Increasingly, aggregators are the first place candidates will look for jobs, in the same way that we would start with Expedia or Google Shopping.
Previously, many of these candidates would have started at a job board. Whereas now, they are starting at the aggregator. The aggregators make most of their money by selling those candidates through to the job boards.
Disruptive – biggest change to candidate journey - This not sound very applicable to you, but this is fundamentally changing candidate behaviour… so let’s take a look at the candidate journey...
Candidates typically start their journey with at a search engine.
Almost any recruitment search term will bring up aggregator results… The recruitment aggregators are dominating organic and paid search engine listings and taking the lions share of traffic.
Aggregators then sell most of their traffic to job boards, so candidates are passed over to job boards.
Job board traffic is then accessed by the staffing firms and direct employers.
Obviously, not all candidates start at a search engine, not all search engine users go to an aggregator, not all aggregator traffic goes to job boards. Job boards get traffic from other sources. But at a macro-level, this candidate journey is increasingly the norm, and it represents a huge opportunity for employers to cut out the middlemen and go directly to the aggregators…
But like there are lots of different types of job board, there are different categories of aggregators, and you need to understand the gist of how they work…
So looking at how this used to work for WP - Previously we would pay a large number of job boards to advertise our roles…… This is how it worked:
We’re advertising a role on our careers site, we’ve paid for a job slot on Reed (£300 for example). One of the ways that we’ll get candidates for that job is for that job to be sent to an aggregator, by the job board, in this case Adzuna. Every time Adzuna delivers a caniddate to the job board, that board pays them for it.
[3 screen grabs]
ADZUNA – JUST AN EXAMPLE!
Strategically we took the decision to try skipping the job boards, in some cases and go to the aggregators directly.
For those who want to know tech how this works, you pass an xml feed to the aggregator. This is a list that is always up to date – automatically updated whenever you update it on your site/system. When a candidate clicks on the role on the aggregator, they are directed straight back to our careers site. Often a small/token amount of this traffic is free, but you can invest to get more traffic.
Two ways to use aggregators: Go direct or Go to an agency… we’ve tried both...
So to begin with we ran the campaign for a week without any restrictions
The graph shows jobs along the bottom and applications up the side, so you can see the jobs with the most applications on the left, and the fewest on the right.
This shows that when you use aggregators without any management you get a few jobs that receive a disproportionate number of applications (which wastes budget) and most that receive very few. More often than not, these are the roles that are easy to fill! It’s leaving too much to chance for my liking…………
The full budget for this week was a flat spend of £940. Remember that at this time we’re also competing with the job boards and the tools, time and resource that they can put into PPC. I
So, in week two, we applied some rules. As you can see, when we did this, we avoided a huge amount of wasted budget.
This meant that we were receiving the same amount of useful applications, without overspending on a few oversubscribed roles.
At this level we were paying just £15p per candidate to the site, and £1.20 per application (which represents a reduction of 20% per application). However, this is still not generating the level of applications that we want across all our live vacancies.
As the graph builds and the agency begins to really optimise the campaign, we can see that the curve begins to level out and we get more consistency with our applications. What this means is that if we increase the total spend to the previous budget level, we keep the same efficiency but gain a much more favorable distribution across jobs.
The more consistent pacing of applications helps our resourcers and recruiters to manage their workload more effectively. We’re still in a trial phase and will continue this over time. Our goal is to have good candidates drip fed across all vacancies. It’s the agencies job to spend the time in what is a sem-automated process leaving us to worry about the quality of the candidates, the selection process and the overall expeerience for candidates and managers.
As I said, our goal is to create some simple rules and to use spend that has previously been used on job boards or other channels – like everyone in the room I’m sure, we have a finite budget. We will continue to judge aggregators directly against our other channels and using them where we know they work.
This is very much a data led approach that is just one part of our attraction strategy. We will make sure that we use each agg in the right way, using the data and resuls to make decisions. We have taken some of our existing budget and used it to run this pilot. Cost of agency – not high – outweighed by reduction in waste. We chose to use Calibrate who presented us with a very compelling argument and piece of technology and are holding our hands through the process.
… for all roles, but aggregators have a wide reach
regionally agnostic
Being effective is about data
CPC model is great for ‘pacing’ and candidate experience.
Very good ROI, very little waste
Model scales worldwide
Four broad types
(Managing effectively requires rule-based middle-ware, expertise and experience, sharp learning curve) – get help
so you need good measurement.
is great but has pitfalls, these are mitigated with rules to manage spend effectively
We all know that no channel holds the silver bullet to getting those perfect candidates and the job filled in the right time. However, if you want good reach across all roles then aggregators have that global reach. We’re all concerned about the capacity of our teams and so aggregators are great for pacing our activity and ensuring that we don’t get the two extremes we all dread – on the one hand a deluge of mostly inappropriate applications and on the other, nothing!
To manage aggregators effectively we have to change the way that we work and our previous perspective. I would advise getting help with this – with such a data led approach, you need the right tools to help set the rules, the right experience and also the time to manage the PPC model effectively so there is little waste.
Measuring ROI is so difficult, particularly when we’re talking about building the brand and candidate engagement.. Finally, and importantly for us as we continue our global expansion, this method is regionally agnostic – it translates well wherever we are recruiting due to the reach and global footprint of the aggregators.
This has been a very whistle stop tour but I hope that it’s given you an insight into how you can start to work differently to drive those all important applications to open roles. We are looking forward to seeing the longer term results of this pilot, which, together with the work we’re doing on our employer brand and organisational change, we hope will enable our TA teams globally to be highly effective in helping WP deliver its ambitious growth strategy.
if you have any questions now then please feel free to ask or I’m around afterwards so happy to connect and chat with any of you afterwards. Thank you.