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During this difficult economic time, HR and recruiting departments are assessing and re-engineering their recruiting strategy and hiring practices.
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Is Candidate Sourcing Dead?
How Today’s Economy Is Changing The Game Rules For Recruiting
April 22, 2009
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Is Candidate Sourcing Dead?
How Today’s Economy Is Changing The Game Rules For Recruiting
Sean Bisceglia – TalentDriveAnne Bucher – Pinstripe, Inc
Your Speaker Today
Anne Nimke is a seasoned veteran in the world of RPO, talent strategy and performance improvement. Adept at creating staffing models, Anne understands solutions need to align with the strategic objectives of the business to achieve an organization’s maximum performance capacity. She has an extensive experience developing talent lifecycle strategies, driving employment branding and positioning, aligning recruitment and on‐boarding initiatives, and ensuring sustainable performance through process change, integrated technology and metric development.
Anne is a cum laude graduate of Marquette University. She is past president of MMSHRM (Metro‐Milwaukee SHRM Chapter), WI SHRM State Conference Chair, and currently Vice Chair of RPO Alliance and member of SHRM Staffing Special Expertise Panel and HROA.
Anne NimkeCo‐founder & Executive Consultant
Intro: Sean BiscegliaSean Bisceglia is Chief Executive Officer of TalentDrive, headquartered in Chicago. Since the company opened its doors in 2007, TalentDrive has built a solid client list. Without relying on manual search
strings, TalentDrive sweeps 1000's of job boards, matching your job description to qualified talent for
your open positions. Prior to TalentDrive, Sean acquired and became CEO of CPRi (Corporate Project
Resources, Inc) in March 2003, and sold to Aquent in July 2005. Sean's leadership as CEO of CPRi helped
to grow the organization 200%, making it the largest national marketing staffing firm. As a result,
Aquent's acquisition of CPRi crowned them the largest marketing and creative services staffing firm in
the world. The firm deploys over 1000 marketers a day around the world.
Prior to CPRi, Sean founded TFA, a marketing technology firm, in 1992, which he sold to Leo Burnett in 1998. Joining
Leo Burnett's management post‐acquisition to run the company's Technology Group, he was the youngest corporate
executive vice president in the Leo Burnett Company's history. Under his leadership, TFA/Leo Burnett achieved a
record breaking 96% growth to $210 million with over 350 employees around the globe. In recognition of his
achievements, Sean was elected to the board of directors of Leo Burnett USA.
Beyond his relentless focus on profitable growth, Sean's success also is attributed to the profile he keeps within the
business community. He serves on the advisory boards of various companies, contributes to the Wall Street Journal,
New York Times, and various industry trade publications. Sean has served as guest speaker at Harvard Business School,
University of Chicago, and DePaul University. In 1999, Sean was named by the Crain's Chicago Business list of "Forty
Under Forty" top business people in Chicago. In 2000 he was also named as one of "The Internet 100," by Crain's
Chicago Business.
Sean serves on the Palliative Care Center & Hospice of the North Shore Foundation Board, the Rehabilitation Institute
of Chicago Foundation Board, and the Children's Memorial Hospital Foundation Board.
Please describe your current role…Recruiting Manager / Recruiter – 29%
HR Manager / Director or above – 4%
HR Generalist / HR Specialist (non recruiting) – 4%
Hiring Manager / Executive – 0%
Other – 63%
Polling Question
Agenda
• Current State of Economy
and Talent Acquisition
• Sourcing and Technology
• Recruiting 2009 –
What a difference a year makes!
• Are You Ready?
Is Candidate Sourcing Dead?
How Today’s Economy Is Changing The Game Rules For Recruiting
April 22, 2009
25% discount off of TalentFilter subscriptions
for all attendees of the webcast
Current Economy
Optimists see job growth as soon as spring,
With the economy losing only about 750,000
more jobs between now and then.
Pessimists predict the economy will keep
losing jobs until late next year or 2010, with
additional losses of well over 2 million jobs,
bringing the peak‐to‐trough decline to more
than 4 million.‐ BusinessWeek, “Is the Jobs Panic Justified?”
12/10/2008
8
• First level, Calibri 24pt, gray
Current Economy
2009 Forecast Change in Jobs
9
Source: Moody’s Economy.com, Feb 2009
Where Have We Been?
• Election Season
• Pumped Up Gas Prices
• Credit Crisis
• Passing the Bailout
• Financial Services Turmoil
• Auto Manufacturing Struggles
Source: Lee Hecht Harrison, 2009
10
Where Are We Going?
• Monitoring Change
• “Green Collar” Jobs
• GDP Growth
• Healthcare Reform
• Consumer Spending
• Regulatory Shifts
Source: Lee Hecht Harrison, 2009
11
What effect has the economic downturn had on your organization?
Helped – 4%
Harmed – 59%
Both Helped and Harmed – 33%
No Effect – 4%
Polling Question
Impact of Economic Downturn
• Harmed– Limited resources– Uncertainty, both for organizations
seeking to hire and prospective employees seeking change
– Relocation problems – home sales impact employee willingness/ability to move
– Increasingly poor quality of candidates
• Helped– More talent available; “their loss is
our gain”– Less competition enables
organizations to better position to attract talent
– Uncertainty decreases attrition
Impact of Economic Downturn
Talent Acquisition Challenge ReportHROA/TPI/Pinstripe
Where Are the Jobs?
By Industry:
• Healthcare
• Finance and Accounting
• Information Technology
• Legal
• Engineering
• Manufacturing
By Geography
• Northeast
– Education, Healthcare Finance/Accounting, IT
• Midwest
– Engineering and Construction
• West
– IT, Engineering, Finance/Accounting
• South
– Healthcare, Finance/Accounting, Engineering, IT
14
Source-Lee Hecht Harrison, 2009
Current Market Behaviors
• Organizations are in cost cutting mode – focus is clearly on 2009
• Large‐scale strategic initiatives are being deferred due to the cost of investment
• Organizations are focused on addressing specific and immediate problems ‐ targeted solutions or outsourcing
• Drivers for evaluating a Recruitment Process Outsourcing solution remain the same
– Variable cost structure, improve candidate quality, and shorter time to fill
• There is less urgency to address the recruiting challenges of 2007 and 2008
How concerned are you about effectively recruiting the best talent right now? (pick one)
Not concerned at all – 12%
Moderately concerned in all job/skill areas – 31%
Some areas very concerned & in other areas NOT concerned – 46%
Very concerned in all job/skill areas – 12%
Polling Question
• iPod wasn’t just a successful product launch it was a inflection point to put the consumer in charge of their media
• 3,500 impressions a day from all forces of “media”• Blogs have gone from 1% to 30% of internet users in 3 years• 50 million instant messaging and 120 million wireless text
messages a day• Media is changing from intrusion and brute force repetition to
surprise engagement• All these changes are creating a new breed of recruiting
opportunity to attract/ recruit talent with alternative, unmeasurable media on marketers dashboards
Today’s Technology & Impact on Sourcing
A Year Ago Today
Attract/ FilterIntercept
AssistInhibitAffiliateIsolate
• Much has changed in a year with the sheer volume of Talent online and how to attract and filter
• Leveraging technology and knowing how to use to your strategic advantage‐ The Time is Now
A Year Ago, A Year From Now, A Big Change
What Is Recruitment Technology?
How It Can Provide a Strategic Advantage
• Automate business process through technology and implement advanced communication with talent
– Reduce time spent recruiting by using one, unified search platform and consistent communication
• Improve management by unifying ATS, searches, and job boards
– Search all of your registered job boards, personal ATS, and additional niche sites all from one technology
• Stay cutting‐edge by offering clients innovative practices
– By reducing time spent on recruiting, you are able to fill positions in half the time, with higher quality candidates
HIRE
Background Checks
Pre‐Screening & Interview Process
Sourcing ApplicantsFiltering and Sourcing
Technology
• How to Effectively Make Sense of the Glut of Resumes Online
– Increased number of applicants for available positions
– Decreased number of available positions
• Leverage technology to find top talent and avoid duplications
– Reduce time spent online
– Quantify and qualify current talent in company ATS
– Organize efforts to perform at optimum efficiency
The Talent Paradox
1.2M
28.7M
48M
0
10,000,000
20,000,000
30,000,000
40,000,000
50,000,000
Num
ber
of P
ostin
gs
1996 1998 2008
Year
Number of Job Postings Online 1997-2008
52M
77M
-
20,000,000
40,000,000
60,000,000
80,000,000Nu
mbe
r of
Resu
mes
2007 2008
Year
Number of Resumes Online Everyday 2007-2008
Have you changed or added recruitment technology in the last 6 months? Yes – 59%
No – 41%
Polling Question
Status of Recruiting 2009 The Difference A Year Makes
• Survey results direct comparison between August of 2008 to April 2009 with over 8,000 corporate HR Professionals surveyed.
• How has the economic impact affected recruiters opinion and outlook
• How do you prepare for the rebound knowing the issues?
Talent During Times of High Unemployment
August 2008
35%
65%
Yes
No
Are You Seeing Higher Quality Talent Due to Higher Unemployment Rates?
April 2009
64%
36%Yes
No
• Big reversal of quality of talent available now compared to 9 months ago
• Specialized positions are still hard to find talent
• The question remains, how are firms capitalizing on the quality of talent available?
Sourcing
• Many recruiters are still not using or turning to their ATS for talent
• With more talent available, sourcing of internal ATS is vital
• Is less ad posting driving less candidates to ATS’s?
•Do you know how many qualified candidates are sitting in your ATS?
August 2008
36%
64%
Yes
No
April 2009
28%
72%
Yes
No
Job Boards
• More analytics are now available and being used to provide insight to job boards
• Due to less volume of open positions, more time is spent on the diagnostics
•Are you currently receiving job board analytics?
August 2008
35%
65%
Yes
No
April 2009
50%50%Yes
No
What is your company doing now in response to recession and recovery?
A. Status Quo – not affected & not doing anything different – 7%B. Reactive ‐ acting as necessary until economy turns – 11%C. Planning – strategically preparing for future needs ‐ 15%D. Both A and C – 15%E. Both B and C – 52%
Polling Question – Are you ready?
A Surge WILL Come
27
• Prepare for the Hiring Spike• Implement New Technology• Improve Efficiency and ROI for Recruiting
* Justin Lahart, The Wall Street Journal, February 9th, 2009
What to do to prepare for the change?
• Don’t waste this recession ‐ cut costs where you can!
• Upgrade your talent• Enhance your brand• Innovate your process and mobilize technology• Measure your results• Be Nimble – change when it is necessary
Don't Waste this Recession
• Re‐negotiate current job board posting contracts or other service provider contracts
– Reduce posting costs and maximize on collecting information on the existing talent on the market for future positions
• Evaluate recruitment model options – RPO is one of the most proven areas of HR Outsourcing success
• Begin to pipeline talent now for the hiring spike– Develop robust and pro‐active recruitment marketing plans for future positions
• Reduce complexity – Consolidate systems and vendors
• Calculate the current Total Cost of Ownership– What is it now?– What will it be when the recovery begins?– Are you surprised? 29
Upgrade Your Talent
A downturn can give smart companies
a chance to upgrade their talent!McKinsey
• Redesign jobs (even as you execute headcount reductions)
• Protect your training and development programs
• Measure and make decisions based on talent needed now and in three years
• Invest in maintaining internal brand – no matter what
• Even though hiring may decline, quality of hire increases during a recession
Recruit from Within
Re‐recruit
PromoteFromwithin
CareerPathing
Succession
PlanningRetentionPrograms
ReduceTurnover
Talent Mgmt
InternalRecruiting
KeepingThe TalentWithin
If you aren’t recruiting your current talent –
you may be the only company who isn’t!
Enhance Your Brand
• Use Web 2.0 to promote your unique employee relations, culture, investments
• Know what the public knows about you
• Insure exceptional candidate care & communication throughout the process
– Utilize automated screening questions
– Narrow the funnel with assessments
– Automate messaging to alert candidates when they are not qualified
Who controls the message?
33
• We have found that current employees are the most widely used and are by far the most trusted source of information about organizations for candidates. Unfortunately, only 24% of employees actively promote their organization in the labor market.
Corporate Leadership Council
• Trust in “a person like me” has more than tripled, from 20% in 2000 to 68% in 2006. Edelman Trust Barometer
Companies don’t control the message
• Level 1: Minimal collaboration. Density creates value.
Web 2.0 Taxonomy
35
• Level 2: Collaboration adds value, which drives traffic and adds density
• Level 3: Collaboration creates value, which drives traffic and density.
Innovate Process …Mobilize Technology
• Review current processes and identify administrative burdens or inefficiencies.– Model business case for each alternative– Analyze feasibility/attractiveness of options
• Utilize the functionality you already have– Only 12% of ATS’s have their “auto‐emails” turned on– Retrain staff on current & new ATS functionality– Enhance your career site
• Benefits of recruitment technology– Increase ROI– Improved efficiency– High quality talent for important roles– Ability to sort through glut of resumes online
• Know and deploy new options available in automation and self‐service
– eQuest/ JobViper/ EasyPost/ TMP (Automated Job Posting Distribution)– Jobs2Web (Requisition SEO)– TalentDrive (Sourcing and TRM System)– Voice Screener (recorded phone screen/interview)– HireVue (video interviews)– SkillSurvey (Automated Pre‐hire 360 Reference Checking)
Innovate Process …Mobilize Technology
Accelerate Your Process
Dramatic increase in job seekers –Adjust your posting/adv strategy &
Increase pro‐active “sourcing strategy” for hard to fill positions
Review knock‐outs in screening questions. Increase selectivity.
Refine validated/other assessments &
move earlier in the process Automate screen/interview scheduling & customize screening
questions to the position
Active & Passive Leads
Candidate Application
Online Assessment
Recruiter Phone Screen/interview
Hiring Manager Interviews
Offers
Starts
Improve interview‐to‐offer ratio saving hiring managers time
All done faster, cheaper, and with a great candidate experience
Cascade Background CheckingAutomate Reference Checking
Begin new employee engagement on “start date” with automated on‐boarding
Measure Your Results
• Cost per hire• Volume• Time to fill• Source analysis• Funnel ratios
– (leads to interview, interview to hire etc.)• Satisfaction of new employees/hiring managers• Recruitment Efficiency Ratio
– (Total staffing costs/total compensation of new hires) x 100 • Quality of Hire = PR + HP + HR / N
– PR = Average job performance rating of new hires – HP = % of new hire reaching acceptable productivity with acceptable time frame
– HR = % of new hires retained after 1 year – N = number of indicators
Analyze effectiveness regularly…make it routine!• What you measured annually do quarterly…• What you measure quarterly do monthly!
Be Nimble
evolve or transform.status quo is not an option.
now is the time.
About Pinstripe
Pinstripe, Inc. designs, builds and manages high‐performance, large scale talent acquisition solutions. For clients in industries that include financial services, technology, telecommunications, healthcare and others, Pinstripe’s innovative approach to Recruitment Process Outsourcing (RPO) integrates sourcing, recruiting, hiring, on‐boarding, and engagement into a complete, end‐to‐end outsourced acquisition and retention solution. For healthcare organizations, Pinstripe’s Healthcare Group offers the provider‐side experience it takes to help clients reduce their recruitment and labor costs while continuing to provide the highest quality of patient care. Pinstripe’s Project Search Group offers on‐demand hiring solutions that allow companies to choose from discrete modules of service—using just what they need, when and where they need it. Clients choose services that best complement their existing capabilities, while controlling the overall costs of recruitment. Visit www.pinstripetalent.com.
Source Acquire Hire Engage ROI
Pinstripe’s end‐to‐end Recruitment Solution
About Talent Drive
TalentDrive has released the industry’s most innovative SaaS sourcing solution, TalentFilterSM. Over 55 global companies have helped us develop one of the most easy to use, on‐demand, talent sourcing tools on the market. As a subscriber, our recruitment technology sweeps and unifies thousands of paid and free resume databases in one location. TalentFilterSM then matches, hierarchies the results, and provides contact through auto scheduling for candidate interviews, chosen by you. In addition, through powerful analytics you are able to manage your ROI for online recruiting. TalentFilterSM now services the United States, Europe, and The Pacific Rim. One search, one location, one technology. Thousands of sources. To learn more visit www.talentdrive.com.
Check out our new video visit www.talentdrive.com
Questions?
Sean Bisceglia
Phone 312.676.4202
Anne Nimke
Phone 262.754.5060
Is Candidate Sourcing Dead?
How Today’s Economy Is Changing The Game Rules For Recruiting
April 22, 2009
• 25% discount off of TalentFilter subscriptions for all attendees of the webcast