Recruiting and Retaining Talent in a Boom Economy. NACD 2018 Annual Meeting

Transcription

1 Recruiting and Retaining Talent in a Boom Economy NACD 2018 Annual Meeting

2 OUR CURRENT WORLD OF WORK

3 HIRING TRENDS BY THE NUMBERS On average, 250 resumes are submitted on the typical corporate job opening. The average cost per hire in 2016 was more than $4,129 (for nonspecialized roles). The average employee tenure at an organization is eight years. The biggest reason people switch jobs is for career opportunity. For the first time in at least 20 years, there are now more job openings than there are people looking for work. CNN Money

4 INTRODUCTIONS ALIPER Over 50 years of assessment and consulting experience Unparalleled database of scientific research Assessed almost 6 million across the globe in over 65,000 companies Certify HR practitioners on Talent Management assessment Award-winning people analytics platform, Caliper Analytics

5 FUN FACTS ABOUT CALIPER AND NACD More than 20 years of experience serving chemical distributors Have assessed more than 10,000 industry specific individuals Work with chemical companies of all sizes both domestic and ITL Developed specialized job models for sales and leadership

6 OUR CLIENTS

7 THE MOST C OMMON HIRIN G MISTAKES

8 MOST COMMON HIRING MISTAKES Thinking experience 1 always counts Too much emphasis 2 on the interview Hiring in your 3 own image Being overly impressed 4 by a resume Misunderstanding 5 the role Hiring from your 6 competition

9 HIRING IN A BOOM ECONOMY Hire based on Competencies proven job models Know what to look for when hiring for your particular role and industry Develop existing employees A recent Gallup poll found that 87% of millennials say on-the-job development is key* 42% of employees say learning and development is the most important benefit when deciding where to work.** 7 out of 10 respondents said job-related training and development opportunities directly influence their decision to stay with a company^ * ** ^

10 Our Research has Shown: Sales candidates assessed as having the highest (top 25%) potential will, if hired, generate as much as 30% to 40% more sales revenue than average performers Employees hired with a validated, competency-based selection model perform 26% better in healthcare/manufacturing/biotech Those employees who were assessed as matched to their role perform significantly better in such performance areas as team work & collaboration, building rapport, managing concurrent priorities, active listening, & bouncing back from adversity CALIPER 10

11 TOP PERFORMING SALES PEOPLE?

12 WHAT THE DATA SAYS We evaluated Caliper Profile results for sales representatives from NACD companies Scored high on traits related to being results focused and disciplined, such as Self-Structure (68.3) and Urgency (62.2) These individuals had strong scores in Initiating Action (67.3) and Decisiveness (66.5). Scored high a number of traits related to persuasive communication and relationship building, including Ego-Drive (61.5), Assertiveness (67.8), Sociability (61.9), and Gregariousness (65.4). These individuals had strong scores in Influence & Persuasion (66.1), Negotiating (67.2), Relationship Building (63.9), and organizational Savvy (65.5). And, they re smart! Scored high on cognitive ability - Abstract Reasoning (67.4). This relates to their high scores in Business Acumen (65.9) and Strategic Thinking (63.9). These individuals are resilient Ego-Strength (61.9) and are comfortable with Ambiguity (63.5)

13 TOP SALES MODELS Not the consultative sales model. Technical Sales Strategic Selling If we dig deeper, models for sales are strategic and technical. This is because you have to have strength in thinking strategically, need business acumen, organizational savvy, agility, planning and priority setting. Strong element of emotional intelligence. Typical sales person doesn t do much planning but this group does.

14 Caliper s Competency Library 56 scientifically validated competencies relative to job performance Researched and developed over the course of 15+ years Competency combinations are used in one of over 50 of Caliper s validated Job Models or can build custom job models

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17 Compared to new business development (a.k.a. Hunters) Top Performers?

18 INDUSTRY JOB DECRIPTION Write descriptions that reflect the competencies you re looking for go beyond traits and behaviors. Example: Reduce complexity for the customer and ensure customer satisfaction when working with multiple sites or operating companies, countries and local sales teams by providing guidance and influencing commercial decisions with their colleagues within the region.

19 KEY TAKE AWAYS (BOOM!) Put the right systems in place to support your sale s representatives (lower scores)? Ex: systems to support planning and priority setting, etc. Consider recruiting from non-traditional sources and train/teach product or industry specific knowledge. Don t rely on experience alone. If they aren t aligned to proper competencies, they won t last. Smaller organizations aren t always looking for the right things update your job descriptions. You may have individuals in your organization who would be a great fit but haven t been considered. Assess everyone and see what role plays to their strength. Evaluate bias. You may be looking for behaviors that sound good but are irrelevant i.e. quality focus

20 T H A N K YO U i n c a l i p e r c o r p. c o m w w w. c a l i p e r c o r p. c o m

21 89% 68% 76% Of companies are using some form of pre-employment assessment Of the companies using assessments have conducted validation analyses Of companies use an assessment to screen candidates up front