Top talent in a nut shell 300713 v2

TopTalentInnovative Talent Assessment Solution

August 2013

TopTalent Confidential

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Talent

Please activate presentation in ‘slide show’ mode (F5)

Agenda


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• Problem Statement

• Our Solution: TopTalent

• People

• Competitive Environment

• Two-Year Business Plan

Sections covered in this version of the presentation

Problem Statement


Recruitment Process


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After drafting and spreading job description, recruitment team gathers few hundreds of resumes/profiles from various sources

Job Fairs

Company Employees

Placement agencies

Head Hunters

Resumes/Profiles Screening

Recruitment Funnel

Recruitment Process


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Recruitment team screens resumes & profiles


Recruitment Funnel

Average HiTech resume interview conversion rate: 1:15

53% of job applications contain false information

Recruitment Process


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“Resumes are Passé – we keep asking for them because no replacement was found”

Orna Segal, Manpower Israel CEO, May 2013

“Resume doesn't provide much depth about a candidate. We are most interested in what people are like, what they are like to work with, how they think – resumes don’t provide this information”

Christina Cacioppo, associate at Union Square Ventures , January 2012

“GPAs don’t predict anything about who is going to be a successful employee”

Laszlo Bock, Google’s senior vice president for people operations, June 2013


Recruitment Funnel

Recruitment Process


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Recruitment team spends hours upon hours interviewing dozens of candidates


Interview

Recruitment Funnel

Average HiTech interview recruitment conversion rate: 1:25

Average length of an interview is 50min

Recruitment team after 22nd interview…

Recruitment Process


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"The ability to hire well is random” “Google did a study to determine whether anyone at Google is particularly good at hiring. We looked at tens of thousands of interviews, and everyone who had done the interviews and what they scored the candidate, and how that person ultimately performed in their job. We found zero relationship. It’s a complete random mess”

Laszlo Bock, Google’s senior vice president for people operations, June 2013


Interview

Recruitment Funnel

Recruitment Process


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Recruitment team talks to candidate referees and anonymous referees


Interview

Referees

Recruitment Funnel

27% of job applicants provide falsified references

most valuable stage in the process !

Recruitment Process


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Recruitment team makes an offer to best candidate/s


Interview

Referees

Hire

Candidates don’t meet manager’s expectations in 44% of the cases

67% of employers in US were affected by a bad hire in 2011. Single bad

HiTech hire cost is estimated to be50K$-100K$

Recruitment ProcessConclusions


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Recruiter is facing a haystack of candidates with little objective information to support decision making

Today’s recruitment process is no more than an educated gamble…

Recruitment world is begging for innovation !

Our Solution: TopTalent


Basic Insight


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Best approach for estimating candidate quality is asking

his co-workers for their opinion of him

“I think that eventually recruitment process will go entirely through social networks. People will recommend you as an expert of something, and you will be evaluated accordingly”

James Altucher, hedge fund manager / entrepreneur / bestselling author, April 2013

TopTalent Concept


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TopTalent is a professional social network in which members can grade

the professional skills of their co-workers

TopTalentGrading Mechanism


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Grading procedure is completely anonymous

Grading form is composed of several key parameters which are weighted to generate overall grade

Grade is accompanied with reliability score, impacted by number of graders, relation to graders and reliability of graders

Member is exposed only to his grade - not to other members grade

Sophisticated algorithm will identify and exclude biased grading

Members will be offered to grade their co-workers based on professional profile data

TopTalentGrading Outcome


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Each member holds a dynamic scorecard reflecting his professional skills

My Grade Parameter

9.4 Professionalism

9.3 Innovation and creativity

9.8 Integrity and reliability

8.6 Team player

9.2 Management skills

9.6 Learning skills

9.0 Efficiency

8.0 Loyalty to work place

9.2 Overall

Scorecard Reliability

TopTalentWhy Being Graded?


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1. Differentiate myself from Linkedin crowd towards present or future job search. Give HR recruiters reason to notice you !

2. Learn about myself

Rank Within Workplace

You are ranked #4 out of 37 algorithm developers in Applied Materials Israel Algorithms group

… 123456734353637

Strengths and Weaknesses Analysis

Dear Jane,We are happy to inform you that you were graded by 18 TopTalent members thus far. Your current overall grade score is 9.2.

We analyzed your results and here are some observations:• Your professional skills are highly appreciated by your co-

workers• You’re considered direct and truthful. You manage to create

atmosphere of communication and trust.• You posses strong leadership qualities. After serving as a

developer for 5.5 years, perhaps it is time to consider management roles.

• Your co-workers feel that you lack team spirit. Improving that aspect will significantly change your status. You may be interested in our special program designed for improving this aspect (learn more).

Geography/Profession Rank

You are ranked #232 out of 2537 image processing algorithm developers in silicon valley

You

25th percentile Median 75th percentile

$117,200 $128,400$94,100

Your estimated market worth:

$130,500

Compensation Analysis

Salary distribution of professionals with similar profession, years of experience and geography

TopTalentWhy Being Graded?


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1. Differentiate myself from Linkedin crowd towards present or future job search. Give HR recruiters reason to notice you !

2. Learn about myself

3. Exposure: if I’m good, I’d like to show that

4. Interest: become part of exciting, innovative and fun process

TopTalentWhy grade?


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1. Express yourself: people are happy to express their opinion about their co-workers• People do that:

2. Incentives: if you contribute to the network by grading members in a reliable manner, you will:• Learn about yourself by getting access to high-value statistics and

analyses

• Get promoted by the network to be graded by other members, thus increasing your grade reliability

• Get a share in TopTalent profits: you contributed to the ecosystem the network treats you back with cool prizes

TopTalentEnsuring Grade Reliability


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1. Full anonymity guaranteed

2. Carrots and sticks: if you provide honest grade, you will learn about yourself, get promoted, win prizes and your grader reliability score will improve. If not – vice versa.

3. Code of honor

4. Reflecting grader his opinion really matters !

5. Wisdom of the crowd !

TopTalentImpact on Recruitment Process


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HR recruiters use members scorecards to pinpoint right people for the job

Job Description: Java developer – client applications

Years of Experience: 3-5

Location: SF Bay

Seeking for job? Not necessarily

Special requests? Team leading potential



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Contact Details Comments TopTalent Grade Candidate

[email protected]

Excellent professional 9.4 John Smith

[email protected]

Great management skills; pay attention to loyalty to work place

9.2 Carla Martinez

[email protected] Outstanding innovation skills! 9.1 Janet Miller

[email protected]

Super-talented programmer; is he a team player?

8.8 Robert Moore

[email protected] Doing well in all aspects 8.7 Mark Williams

[email protected]

Did well in Facebook; not as good in Google

8.6 Rajesh Nagpal

…. …. …. …

HR recruiters use members scorecards to pinpoint right people for the job



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My Grade Parameter

9.4 Professionalism

9.3 Innovation and creativity

9.8 Integrity and reliability

8.6 Team player

9.2 Management skills

9.6 Learning skills

9.0 Efficiency

8.0 Loyalty to work place

9.2 Overall

Member has the option to hide his scorecard from HR recruiters;In any case, member scorecard will not be exposed to his organization

TopTalentLinkedin Endorsements


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Some endorsements-related statements from heavy Linkedin users:

– “Nice to see on a profile, but it doesn’t have any substance to it - it’s cheap and dirty” ,Neil E. Peek, senior recruiter at Brocade

– “Endorsements are useless because they don't explain the degree to which a person endorses your skill, or the reasons why”, Eric Simms, Independent Consultant

– “Endorsements have already become meaningless because everyone is endorsing everyone for everything”, Steven Raz, Co-Founder & Managing Partner at Cornerstone Search Group

– “I think the endorsements are silly. I am making it a practice not to endorse any skill that I haven't had the opportunity to see someone demonstrate. I'm not sure everyone use the same level of care, so I don't see it as meaningful”, Geraldine Mongold, Product Manager at Seilevel

– “Linkedin connections is becoming more of a popularity contest”, Rajasekhar R, ERP Consultant at FLSmidth

– “As an example, I have gotten endorsements from my relatives who have no idea of my qualifications or even what project management or business analysis means. It certainly does not seem to have any value. My wife asked a friend why the endorsement was made, and received the response: "it seemed like a nice thing to do“, Steve Blais, Solutions Architect at Parkson International

TopTalentWill Linkedin Imitate Grading Concept?


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• We estimate the answer is NO. Why?

1. Grading mechanism may lead to members loss. It is unreasonable Linkedin will take that risk as Linkedin is all about size:

2. Large companies don’t imitate successful concepts – they buy them

People


Steering Team


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Udy DaninoCEO and Co-Founder

Yigal DaninoBusiness Development

and Co-Founder

Ziv ParizatProduct Manager

Efrat AghassyHR Consultant

?Marketing Manager

http://il.linkedin.com/in/zp12345

http://il.linkedin.com/in/efrataghassy

http://il.linkedin.com/pub/yigal-danino/64/a4b/743

http://il.linkedin.com/pub/udy-danino/18/b99/856

Advisory Board


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Gideon Fisher Orna Segal Inas Said

Erez Benovich Ilan Twig

http://www.themarker.com/career/1.2027633







http://www.fisher-lawfirm.com/

http://2013.presidentconf.org.il/speaker/%D7%90%D7%99%D7%A0%D7%90%D7%A1-%D7%A1%D7%A2%D7%99%D7%93-%D7%99%D7%A9%D7%A8%D7%90%D7%9C/

http://www.themarker.com/career/1.2027633%E2%80%AC

http://www.experis.co.il/management

http://www.calcalist.co.il/internet/articles/0,7340,L-3602599,00.html

Top Talent