Bank of America/CareerXroads Voice of the Industry Survey Results

Bank of America/CareerXroadsVoice of the Industry

Survey Results

August 1-2, 2006

Overview

• Survey was constructed around the Anatomy of a World-Class Recruiting Organization study from RRT

• Survey questions designed to evaluate the performance and importance

• Survey was sent to 195 firms; 29 responses or 15% response rate• Companies represented various industries:

– Retail– Financial/Banking– Food Services– Entertainment– Technology– Medical/Pharmaceuticals– Oil/Gas– Consulting

• 27 Companies indicated willingness to engage in follow-on interview – 20 selected for Face to Face VOI interviews.

• BAC selected additional international organizations to participate in benchmarking study

How did we do……

Attracting TalentDedicated Sourcing Team Performance %

Importance to Staffing %

Importance to Company %

Just Started 4 33% Not important 0 0% 1 9%

Started but no measurable results 1 8% Somewhat Important 0 0% 1 9%

Incorporated into Strategy 3 25% Important 1 10% 2 18%

Perform Well vs. Plan 2 17% Very Important 5 50% 5 45%

Best Practice 2 17% Critical 4 40% 2 18%

Total 12 100% Total 10 100% 11 100%

Dedicated Sourcing Team Have It %

Measure It %

N0 16 55% 6 50%

YES 13 45% 6 50%

Total 29 100% 12 (1 n/a) 100%

Observations:

•Overall “Attracting talent” category received high importance ratings among all organizations – both in staffing and company importance.

•Despite the importance rating of dedicated sourcing teams to the company’s success (63% Very Important/Critical), 16 companies (55%) have no dedicated sourcing teams.

•Branding – 47% of organizations just started in Staffing Branding, yet importance to the company was rated “critical”…is funding/sponsorship the issue?

•Employee referrals – 60% of organizations rated referrals as “very important to critical” to the company’s success. 61% have wither just started or incorporated into their strategy. Only 2 companies indicated they had a best practice…alignment of priorities?

•Search firm protocols – 70% of organizations rated search firm protocols as very important to critical for the company’s success – only 17% consider their process a best practice …opportunity for rapid improvements?

Centralized Search Group

# %

No 10 36%

Yes 18 64%

Total 28

Attracting Talent..Staffing Brand

Incorporated into Strategy

35%

Just Started47%

Best Practice6%

Started but no measurable

results12%

Perform Well vs. Plan0%

Staffing Brand Importance Ratings

0%

10%

20%

30%

40%

50%

Not important Somew hatImportant

Important Very Important Critical

0%

10%

20%

30%

40%

50%

Importance to Company Importance to Staff ing

Employee Referral

Just Started9%


39%

Perform Well vs. Plan

30%

Best Practice9% Started but no

measurable results13%

Employee Referral Importance Ratings

0%

20%

40%

60%


Important VeryImportant

Critical

0%10%20%30%40%50%

Importance to Company Importance to Staff ing

Search Firm Protocols

Just Started11%


results11%


39%


Best Practice17%

Search Firm Protocols Importance Ratings

0%10%20%30%40%50%60%



Critical

0%

10%

20%

30%

40%

50%

Importance to Company Importance to Staffing

23 responses

17 responses

21 responses

18 responses15 responses

15 responses

Candidate Selection% of New Hires Assessed

# % Assessed

8 0%

6 1-5%

4 11-25%

1 26-50%

2 51-75%

7 76-100%

Campus Teams Reporting Structure

# Reports to

2 HR

21 Staffing

Observations:

Campus Recruitment –22 of 29 respondents indicated that they were at some stage of implementation with campus recruiting. The company’s importance rating averaged “important”. Majority of the campus teams are aligned to Staffing.

Screening and Assessing – 10 of the 29 organizations use tools to screen and assess that are validated against I/O standards. The percentage of new hires requiring formal assessment are shown above.

Internal Job Posting – 83% of the organizations have an internal job posting process, 87% measure it.

Internal Job Posting Importance Ratings

0%

10%

20%

30%

40%

50%

Not important SomewhatImportant


0%

10%

20%

30%

40%

50%


18 responses

Internal Job Posting Have It %Measure

It %

N0 5 17% 3 13%

YES 24 83% 20 87%

Total 29 100% 23 (1 n/a) 100%

Candidate Selection…Campus Recruiting

Just Started15%


results15%


45%


Best Practice0%

Campus Recruiting Importance Ratings

0%

5%10%

15%

20%25%

30%

35%40%

45%



0%

5%

10%

15%

20%

25%

30%

35%

40%


Screening & Assessment ToolsValidated against I/O standards

Just Started0%

Started but no measurable results

29%


43%


Best Practice14%

Screening and Assessing Importance Ratings

0%

20%

40%

60%

80%

100%

120%



Critical

0%

10%

20%

30%

40%

50%

60%


Staffing Organization to Support Company MissionLOB Partnership

Just Started16%


16%


46%


Best Practice11%

Staffing Organization to Support Mission Importance Ratings

0%

10%

20%

30%

40%

50%



0%

10%

20%

30%

40%


19 responses


20 responses 17 responses

17 staffing/18 (company) responses

Talent Management

Candidate Conversion Process Performance %



Just Started 2 13% Not important 0 0% 0 0%

Started but no measurable results 4 25%

Somewhat Important 0 0% 3 21%

Incorporated into Strategy 4 25% Important 3 21% 3 21%

Perform Well vs. Plan 4 25% Very Important 6 43% 5 36%

Best Practice 2 13% Critical 5 36% 3 21%

Total 16 100% Total 14 100% 14 100%

Observations:

Candidate conversion process to “close” selected applicant had mixed results (only 57% of the companies have a formal conversion process.) Importance to staffing was between very important and critical. (Note: One company indicated they measured it but did not indicate the have it.)

Candidate Conversion Process Have It %

Measure It %

N0 12 43% 3 21%

YES 16 57% 11 79%

Total 28 100% 14 (2 n/a) 100%

Talent Management…Onboarding Program

Just Started37%


21%


26%


Best Practice5%

Onboarding Program Importance Ratings

0%

5%

10%

15%

20%

25%

30%

35%

40%

Not important Somew hat Important Important Very Important Critical

0%

5%

10%

15%

20%

25%

30%

35%


Diversity Strategy

Just Started19%


25%Incorporated into

Strategy37%


Best Practice6%

Diversity Strategy

0%5%

10%15%20%25%30%35%40%45%



0%5%10%15%20%25%30%35%40%45%

Responsible for On-boarding

# Responsibility

4 Hiring Managers

5 HR

4 Learning

6 Staffing

10 Shared

Observations:

24 of 29 organizations have on-boarding programs – only 16 organizations of the 24 measure on-boarding. 18 of 29 companies have dedicated strategies for diversity hiring. On-boarding and Diversity topped the importance ratings among all organizations. On-boarding responsibilities are aligned across several areas.



Management/Organization/TechnologyProcess for Forecasting

# Responses (multiple) Forecast Process

0 Temps

6 Critical Skills

10 Leadership Succession

10 None

10 Other

Who Owns Staffing Forecasting

# Companies Primary Responsibility

5 HR Partners

3 Not owned by anyone

3 Line Management

5 Staffing

6 Other - Shared responsibility all

7 Business Planning

29

Staffing Process Importance Ratings

0%

10%

20%

30%

40%

50%

60%



0%

10%

20%

30%

40%

50%

60%


Observations:

Staffing Forecasting is not widely practiced –52% of organizations do not have a process. Of the 14 companies that do have a forecasting process, only 6 measure it. Ownership of the process varied. Importance to company success however, was very high to critical, which would suggest that there will be a lot more activity in this area in coming years.

Staffing Forecast Process Have It %

Measure It %

N0 15 52% 7 54%

YES 14 48% 6 46%

Total 29 100% 13 (1 n/a) 100%

Management/Organization/Technology…

Quality of Hire Performance %

Just Started 6 60%

Started but no measurable results 1 10%

Incorporated into Strategy 1 10%

Perform Well vs. Plan 1 10%

Best Practice 1 10%

Total 10 100%

Quality of Hire Importance Ratings



Not Important 1 10% 2 20%

Somewhat Important 0 0% 1 10%

Important 3 30% 1 10%

Very Important 2 20% 0 0%

Critical 4 40% 6 60%

10 100% 10 100%

Current Quality of Hire Definitions Used

Currently anecdotal feedback plus school ranking and GPA. Have designed/but not implemented yet Quality of Hire survey to obtain Hiring Manager and New Hire feedback on fit, skills, applicant rank.

Scale of 1-10 (10 being best), how would you rate the quality of your new hire?

Quality of candidate/hire experience of the hiring process

Probably only defined by the recruiting team at this point....

CLCs 1-10 rating by hiring managers in their Recruitment Executive Dashboard

Observations:

Only 10 of the 29 companies currently have a definition of Quality of Hire that they use in their organization– however majority just started – importance is high to both company and staffing. There is no consistent definition for Quality of Hire..

Majority of organizations have centralized temp management programs – only 1 best in class

Centralized Temp Management Program Have It %

Measure It %

N0 9 31% 1 6%

YES 20 69% 16 94%

Total 29 100% 17( 3 n/a) 100%

Metrics Summary

Metric # % of Total

TTF 25 86%

HM Sat 19 66%

CPH 17 59%

Conv. Ratio 17 59%

Cand. Sat 15 52%

Retention 14 48%

Agreed TTF 8 28%

QOH 8 28%

Performance Ratings 6 21%

Other 4 14%

Efficiency Ratio 3 10%

Total Respondents 29

Most common Metrics used in Staffing Organizations

Staffing Metrics %

Shared Metrics with

LOB %

Delta CPH 17 59% 17 59%Total Savings 13 45% 11 38%Other 8 28% 8 28%ROI 7 24% 7 24%Retention 6 21% 8 28%Audit of SLA 4 14% 6 21%Delta Performance recent hires 1 3% 2 7%Tota Respondents 29 29

Contribution/Savings Metrics used to measure recruiting contributions

Additional Information

Country # Org. Operating w/I country

Africa 4

Antarctica (lol) 1

Asia - Pacific Rim 5

Australia 4

Europe 7

Middle East 3

Central and South America 6

North America 25

List of Companies who participated in surveyBlue indicates organizations who have a global staffing strategy supported by technology

Air Products and Chemicals, Inc

ARAMARK - Education Facilities

Barnes Group

Bausch & Lomb

BP

embarq

Getronics

Gillette

Huron Consulting Group

KeyBank

Kimberly-Clark

Medtronic

MITRE

National Security Agency/Office of the Director of National Intelligence

Nationwide

Nestle Waters North America

P.F. Chang's China Bistro

PepsiCo

RBC Financial Group

REI

RTI International

sanofi-aventis

Schering-Plough

Sprint/EMBARQ

Tenet

US Trust

Wal-Mart Stores Inc.

Walt Disney World

Yahoo!

Program to Identify Breakthrough Ideas

Centralized Group to Manage Innovation Benchmarking

No 24 14 15

Yes 4 15 14

Enabling Criteria

Industry Survey

Appendix

Currently Practiced in the Industry – Do they have it?

Industry Measurement & Audit – Do they measure it?

Current Industry Performance – How do they perform?

Importance to Staffing – Is it Important to them??

Importance Ratings –How important is it to the company?

Documents

Bank of America/CareerXroads Voice of the Industry Survey Results