Talent Trends - CIPD Ireland February 2014
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A talk on Feb 12, 2014 to CIPD Ireland on recruitment and talent challenges in 2014 for Cpl in conjunction with Towers Watson.
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Talent Trends - CIPD Ireland February 2014
- 1. Recruitment Managed Services Outsourcing A new era for HR- Sourcing, Managing and Rewarding your Talent Speaker: Peter Cosgrove Date: 12/02/2013
- 2. Agenda • Why we do not focus on our people • Current marketplace for talent • How we hire • What are the future trends in talent • Takeaways
- 3. Why Talent is Not a Priority I hate networking!!
- 4. Why Talent is not a priority • All CEOs say it’s a top priority but….. • Director salary levels • Selling - vs - Hiring • Human behaviour A great opportunity for HR to drive the importance of the talent agenda
- 5. Why Talent is not a priority • Here is €20 you can keep it under one condition, you have to share some of it with a friend, it is up to you how much and your friend has no say in it. • If your friend rejects your offer you both get nothing, if he accepts you both keep your share. • How much will you offer your friend? People are not rational – that’s why hiring is so difficult
- 6. The cost of Turnover Cost of a poor hire = 3 to 5 times employee’s annualised compensation. Specialist functions = 10 x annual salary. For an employee earning €30,000, a hiring mistake can cost up to €150,000. Harvard Business School
- 7. Increased Productivity 225 185 150 100 Average Performer 100 Top Performer Low Complexity Jobs Journal of Applied Psychology Average Performer 100 Top Performer Medium Complexity Jobs Average Performer Top Performer High Complexity Jobs
- 8. Why the Disconnect? • Ownership / accountability of the cost of hiring • HR vs Recruitment disconnect • Its really hard! We often expect people to be looking when we want to hire – it does not work that way
- 9. The Talent Marketplace I hate networking!!
- 11. Trends Skill-sets harder to find but at the same time more people out of work – will present more challenges for recruiting in 2014 • 23 million people in Europe are unemployed yet vacancies are on the rise • 2011 Manpower study – 1 in 3 employers struggled to find talent – this in the height of a recession • ILO survey 2014 talks of a jobless recovery • 2000s - less people working at the end of the decade than at the start
- 12. Ireland Marketplace • 2 speed economy • Demand: IT, Legal, Healthcare, Science and Engineering • Other areas have a huge over supply • The social welfare “challenge”
- 13. The changing candidate You will also have to “re-recruit” those in your own firm given the level of disengagement • Nearly half of candidates do not see themselves in their current employer in 2 years • Loyalty to skills • Temp/ contract work increasing Generation X vs Y vs Z
- 14. Work is not a place you go it is a thing you do
- 15. New entrants The world of work A huge market opening up focused on the skills people have, as opposed to the geography they live in
- 16. Hiring Talent
- 19. So what is changing….
- 20. Your employee value proposition may not be what you think it is • Are you a good company • Percentage of brand advocates I hate networking!!
- 21. Personal vs Professional A huge blurring of work and personal life – means it is even more important you have happy staff • 21% of people with a facebook profile are work friends • 25% of workers highlighted their best friend was a work colleague • 59% of us have dated co-workers
- 22. The moment ofof Truth… The moment truth “Every time a customer interfaces with SAS Airlines we give them a little vignette of film, and over a period of time we will give them enough evidence to decide if they are watching an Oscar winning epic, or a horror story” (Jan Carlzon- CEO- he turned it from B listing to Airline of the Year)
- 23. Touchpoints • What are the touch points to a great hire? Disney were looking at this back in 1980 and are the leaders in their field
- 24. Employee referrals A great metric to really understand the power of your brand to your current employees. Arie Ball in Sodexho is a leader in this space How many hires do you make through employee referrals and how active are you in this space
- 25. Mobile
- 26. The future is mobile The future is mobile I•hate48% of smartphone users use the phone in the bathroom networking!! • ~350 million apps downloaded on Christmas Day • Mobile internet traffic will overtake desktop • Downtime has disappeared If applicants cannot search on jobs and apply via their mobile – you are losing a huge proportion of candidates
- 27. So what is not changing….
- 28. Assessment has not changed much… Companies still demanding a 2.1 degree – despite the fact that many great employees never went to college Screening The Interview
- 29. Responsibility is not with the business Reference have to be taken by the line manager – this is not happening in most companies. Do line managers take all references in their team?
- 30. Your Top talent wants… Your Top Talent Wants… • Challenge • Opportunity • Lack of bureaucracy • Accountability • Other top talent • Mentors Even CSR is changing – you need to align CSR activities to the skills of your staff, hence the popularity of Junior Achievement for professionals
- 31. Talent Trends I hate networking!!
- 32. Everything is changing Everything is changing Music Photography News Job Advertising Reference – Greg Savage
- 33. Our children will never understand the link between the two
- 36. JOBVITE Survey 2014 JOBVITE SURVEY2014 • 4 in 10 US jobseekers found their best job through personal connections • 76% of US social jobseekers found their current position through facebook not Linkedin • 40% expect to be able to apply for a job through their mobile device
- 39. Big Data Candidate identification will be easier but assessment of the right candidate and attracting them will get harder "Business Analyst" (Telecom | Telecommunication | "Tele communication") (intitle:resume | inurl:resume | intitle:cv | inurl:cv | intitle:Curriculum vitae | inurl:Curriculum vitae) -opening -submit -apply -free -sample -samples -eoe -job -jobs ”resume service” Dublin 5 cvs found on Google
- 41. What are you doing with the data? • What jobs get the most hits on your website • Do you track how long jobseekers stay on your career site/ portal • What are the most popular links visited by your own employees HR will need to work with marketing more on these analytics
- 43. Hard Rock Cafe Hard Rock Café, Florence I hate networking!! All 120 people hired for 99 euro facebook ad, all targeted through their facebook page leading to great brand advocacy
- 44. Dollarshaveclub.com Hard Rock Cafe I hate networking!! DSC is able to take on the huge brands like Gillette, by being funny and authentic and taking advantage of “likes” and “shares”
- 46. Gamification A brand that may not immediately attract graduates has great attraction by using a game to target them in universities
- 47. Trends….Tomorrows Candidate Trends - Tomorrow’s Candidate I hate networking!! James is 12 …his last Christmas list was online using price comparison site data! …his favourite film Ironman, he downloaded from iTunes. ...he put together his holiday videos into a movie using the iMovie app. … after scanning a QR code on his mum’s iPhone, he won a trip to Disneyland. … he taught his dad to stream football online. => Do you think he’ll ever send you his CV or reply to a job ad?
- 48. Takeaways
- 49. HR need to work more in the business and partner with IT…and marketing
- 50. HR need to work more in the business and partner with IT…and marketing
- 51. Takeaways Takeaways 1. Know what your brand says to your potential hires and your current employees. 2. Be a great place to work 3. Work closer with Marketing and Technology to run the talent agenda 4. Have a mobile enabled website – it is a HR issue! 5. Have line managers own the reference process
- 52. Recruitment Managed Services Outsourcing Thank You Name: Peter Cosgrove Title: Director – Cpl Phone: 087 6200836 Email: peter.cosgrove@cpl.ie Twitter: @petercosgrove
Editor's Notes
- I will promise is that everyone will learn something and that you will be able to take away actions from this.All slides will be online so no need to take notes.I am trying to cover the MNC and the start up of 8 staff so perhaps not everything will be specifically relevant to you perhaps
- CEOs say it is (our survey says its not) Less than 10% of organisations have a talent metric for the top team. Everyone agrees it is important and the data backs it upWhat makes it so difficult to implement …because of human behaviour and the inability to be totally scientificHR Directors are paid significantly lower than Heads of IT and FinancePwc hiringvs client salesHuman behaviour is a challenge Who wants to be a millionaire in RussiaUltimatum game -
- People are not rational
- Ownership of the cost of hiring and it is spread across the businessEveryone can easily blame someone else – it was the manager, the process was too slow, what chance do we have against google etc, Where is the talent metric that makes the senior team responsible for peopleJust when you are ready to hire is not very linked to when someone may want to workfor youHow often do you fob someone off when they may be the next excellent employeeHiring Top talent does not necessarily work when filling a job, a job is about skills not success factors, measure performance not personality.Picture that great hire – this is your opportunity – go to the business and drive the talent initiaitve but do it in the tersm they understand – sales staff is about revenueIn many companies the role of recruitment is annoying for HR professionals as its often qute a different skill-set and looked on as an entry level in to Hr – is this the right way?
- It says global youth unemployment is more than 13 percent, compared to the overall worldwide rate of six percent.The International Labor Organization says in 2013, nearly 202 million people were unemployed around the world. This represents an increase of almost five million on the previous yearILO Director-General Guy Ryder says worse is to come. He says current trends indicate the number of unemployed will increase in coming years and is expected to reach 215 million by 2018.
- Temporary high unemployment is generating an overwhelming pool of the wrong applicants when companies need to tightly match the right skills with the candidates they need to recruit.Conclusion – hiring is very difficultFirst you need to find the right people and either you find none or you are swamped with applicationsThen you need to be clear who is right for youThen they need to want you…not as straightforward as it seems given people are not rational
- Temporary high unemployment is generating an overwhelming pool of the wrong applicants when companies need to tightly match the right skills with the candidates they need to recruit.Conclusion – hiring is very difficultFirst you need to find the right people and either you find none or you are swamped with applicationsThen you need to be clear who is right for youThen they need to want you…not as straightforward as it seems given people are not rational
- People are not rational
- oDeskElanceFreelancer – turned down offer for 430 million by Japanese co Recruit a year ago, now listed on the Aussie exchange for a billion99 DesignsAirtaskeroneshift
- How do we find that diamond candidate that no one else knows about…
- We have a run of the mill job that many people could doThe internet makes it easy to send lots of job applications to the wrong jobs – same for everyone
- What are the candidate touchpoints like for your hires?How easy is it too apply to you?How easy is it for a talented employee to tell you they are interested in working for you
- My father gave me some great advice when I was younger – he said there is only one thing you can lose and never get back - your reputation.I thought he was talking about my v which given I was 29 was a lttle worrying!
- You do everything by interview – therefore you are using a very poor assessment tool, and you do it 5 times as opposed to giving some sort of a test – you would not hire a secretary without checking typing speed, there are plenty of tests to give IT, marketing, finance professionals but we do not use them Its about de-selection not selection however de-selecting based on degree would exclude such visionaries such as:Steve jobs, Mark Zuckerberg, Michael dell etc - the critical first 5 mins of line manager with employeeIf you found the perfect candidate would you hire them – no I need to see a few more candidates!You take forever to make a decision because rightfully you worry about hiring but you end up losing candidates who love companies that can move the process along
- References – you should never want a third party to take your refernces – it is too critical!You do not rewrite a 3 year old job specStory of Linkedin – reference check – very average guy, not a bad guy, I am Irish I don’t want to screw anyone…whYou want the guy who has just left even though you should really be looking for the guy who joined youYou don’t work with the HR team to identify who and where the best people for the position areTherefore you get a shortlist of candidates you don’t want because no one knew what you were thinking and you never wrote it downIf it was easy to find these people you would not be struggling to hire – great people are not easy to find you need to look for them!Who owns the problemYou do not put out your best people to hire Reference – nothing highlights better how good they are – work harder to get reliable references, there are ways around companies saying they don’t give out references – we are a small village really – someone will always know someoneAlways be ready to hire – many great people apply to companies they love not positions and companies cannot handle this – you need to!
- Think of how good your best people are and how easy it is to work with them – now look at it from their side.Good to great – bureaucracy only exists because of the 10% who would not do it unless you checked up on themNetflix in the US gives out unlimited holidays BUT it also has a very strong performance management culture – they can work together. Info on companies not using email after hours – VolkswagenHere is the other point – if you asked your teams who were the worst performers, most likely not to last – they will tell you –everyone knows – we just don’t do anything about itThis is the advantage of many growing companies!!
- People did not stop taking pictures or listening to music – they just changed how they did thisIf everything else is being reinvented why would recruitment not follow?
- People did not stop taking pictures or listening to music – they just changed how they did thisIf everything else is being reinvented why would recruitment not follow?
- So the business is frustrated. People expect to achieve very simple chores on mobile devices and it frustrates them when IT cannot do this in a business context. The importance of data security, IT audits, compliance, password encryption is lost on the business user
- You have heard the phrase facts tell, stories sell, for those of you who never heard this story about the store Target I will recount it quicklyA father is irate when his 15 year old daughter receives info about pregnancy clothes, from Target, on a mail drop. He complains about the inappropriateness to the shop but subsequently apologises as he unfortunately find out his 15 y/o is pregnant. Target looked into their data and it found that she had changed from scented to unscented shampoo and had bought a range of vitamins mainly bought by pregnant women – all of this had generated her profile as 89% chance of being pregnant, so the store knew before the father knew – that’s how data analytics are now tracking us
- Ok Peter – thanks for this, but as you may know I am not a geek, I just about get the basics and this is just too much.Ok – I agree but lets go through this piece by piece
- · Watches your network· Alerts to potential job seekers· Alerts to moves and promotions · Great tool for business development
- `we may be good at time to hire stats and metrics but what about these?
- Why collaborate? RMS builds innovative risk solutions to help the insurance sector quantify financial risk based around manmade and natural disasters such as Pandemics! The algorithms that run Plague are similar to the algorithms we build. As a relatively unknown business yet a market leader in a sector we helped pioneer we could see how we could use the game to 1. raise awareness of RMS through guerrilla marketing and 2. attract/engage candidates by playing the game.How we use the game now (as determined by business requirement)Attraction/Engagement: Careers fairs: grads are invited to play the game, their names are added to a leader board and they can play as many times as want to, to stay at the top of the board. itunes vouchers are given to the top three.Grads remember the game, remember us and as theirs a strategy to doing well in the game those who are successful are invited to interview with us.Other plans to use the game: Plague-off: send the game to specific university courses, players send screen shots of their scores to us, top 3 at each Uni receive itunes vouchers. Courses are specific to our business (science or technology) to encourage applications to the graduate courses. Twitter competition to attract more followers, similar to above. (rmsjobs) When looking for life & health modellers will have them play the game to see if they can create better algorithms. Graduates play game in assessment centre style environment to determine team players/individual contributors.ROI so far: Candidates have applied to us having become aware of RMS through the game Candidates applied as they found the concept of collaborating with a game like Plague Inc innovative. General increased awareness of RMS by gamersFarmville – 70 million players, many who play every day! Cityville – starbucks…Pfizer case study – they had tried to crack a problem a potential HIV cure – they got 20 gamers in a room with “fold-it” a modelling game
- Start hanging our with these guys
- Start hanging our with these guys
- HR can remain the same or be on the forefront of hiring the best talent for the organisation….But it does start with the CEO