Hiring Success Part 1 Transforming the world of work.

Transcription

1 Sourcing, Screening, and a Strategy that Fits your Organizational Culture Hiring Success Part 1 Transforming the world of work.

2 Today s Moderator Charles Summers, OutMatch LinkedIn: linkedin.com/in/summerscharles #OutMatchInsights 2

3 OutMatch Grow with us! Free copy for all attendees! Look for an from me after the webinar! Tour the OutMatch platform! outmatch.com/schedule-a-demo/ 3

4 Communicating With The Presenters How to interact with us: #OutMatchInsights GoToWebinar Questions Queue For the recorded version or a copy of today s presentation, please us at info@outmatch.com or go to outmatch.com/webinars to find all of our on-demand #OutMatchInsights 4

5 Presenters Karina Freitag, Ph.D. Senior Talent Solutions Expert James Buchholz Client Engagement #OutMatchInsights 5

6 Agenda Hiring Success Part 1 HR Metrics: Developing a Results- Driven Strategy Sourcing: Building a Talent Pipeline Screening: Identifying Top Quality Candidates Based on Fit 6

7 Poll Does your organization track people metrics tied to company performance? A. Yes, as part of our monthly/quarterly financial reports B. Somewhat, indirectly through other metrics C. No, people metrics are an afterthought 7

8 Key Company Resources Company analytics often focus on financial capital Financial Capital Limited oversight of human capital metrics, yet people are competitive advantage Human Capital Source: Harvard Business Review,

9 HR Metrics Developing a Results-Driven Strategy 9

10 HR Metrics Define Your Objective Efficiency Effectiveness Impact Top-down strategy guides HR s objectives Business Numbers HR Numbers 10

11 Determining HR Metrics Levenson s CARE criteria Descriptive & Predictive Consistent Accurate Reliable Efficient Provide snapshot of current state & Guide organization Measured gradually over time Precise Indicative of organizational outcomes Minimal cost to collect Source: Brandon Hall Group, March

12 Trace a Metrics Map 1. Understand the business strategy and ask human capital questions 2. Speak the common business language 3. Tie-in the HR strategy to overall business objectives 4. Determine and track key HR metrics 12

13 How HR Impacts Profitability Acceptance Auto Insurance World Wide Call Center 80% WITH A PRE-HIRE ASSESSMENT 25% POOR MATCHES High fail rate was contributing to high turnover 20% STRONG MATCHES 30% WITHOUT A PRE-HIRE ASSESSMENT Strong matches turn over at a consistently lower rate EMPLOYEE PASS RATE FOR STATE LICENSING EXAM EMPLOYEE TURNOVER RATE IN THE FIRST 60 DAYS 13

14 Sourcing Building a Talent Pipeline 14

15 War for Top Talent Average active, skilled workers have 4 job offers Biggest recruitment challenge is the struggle to engage and draw candidates Two Talent Pipeline Models Job-Centric Candidate-Centric Source: Aberdeen, January

16 Job-Centric Talent Pipeline Build Employer Brand Promote Open Job Candidate Candidate Candidate Candidate Candidate Candidate Candidate Candidate Candidate Job Job Job REACTIVE Push job opportunities into the market, place job at the forefront Source: Brandon Hall Group, March

17 Candidate-Centric Talent Pipeline Candidate Build Employer Brand Promote Employer Brand Connect to Candidate Candidate Candidate Company PROACTIVE Populate the general talent pipeline, place company at the forefront Source: Brandon Hall Group, March

18 Guidelines from Best-in-Class Companies 1. Build an engaging employer brand that resonates with ideal candidates 2. Promote employer brand through an omni-channel marketing approach 3. Maintain a constant employer brand presence in the market 4. Fill your talent pipeline with active and passive candidates 18

19 Best Practices To Build Your Candidate Pipeline Linium Staffing Industry Leading Restaurant Chain Grew the passive pipeline by nearly 900 in 3 years Added 2,500 candidates last year Decreased Sourcing Spend 2014 (Jul-Dec) 2015 (full year) 2016 (full year) 2017 (Jan-Sep) CANDIDATES ADDED VIA REFERENCE CHECKING 19

20 Screening Identifying Top-Quality Candidates Based on Fit 20

21 Leaders Agree on Importance of Hiring Top Talent A small team of A+ players can run circles around a giant team of B and C players - Steve Jobs the biggest constraint on the success of my organization is the ability to get and hang on to enough of the right people - Jim Collins Top Concerns of Global CEOs 1. Failure to attract and retain top talent 2. Economic growth 3. Competitive intensity 82% of companies don t believe they recruit top performers Only 23% of senior executives believe their talent acquisition and retention strategies work Source: McKinsey & Company, November

22 Top Quality Candidates Impact Productivity Source: McKinsey Global Survey: War for talent 2000, refreshed in 2012 High performers are 800% more productive in highly complex roles Highly complex jobs pose greatest productivity loss when good people leave On average, workers stay 4 years on a job 22

23 Checklist for Hiring Top Quality Talent 1. Compile list of job success factors. 2. Determine and communicate job appeal. 3. Avoid unicorn job postings; focus on what you need the job to accomplish. 4. Match your application process to your employer brand. 5. Use assessments that reveal traits that match your position and company profile. 6. Pursue only top quality candidates that fit the job and your organizational culture. Source: SHRM, March

24 Identifying Top-Quality Candidates Luxury Retailer Globally Recognized Convenience Store $177 $161 STRONG MATCHES POOR MATCHES $126,400 POOR MATCHES $132,800 STRONG MATCHES 10% higher sales = $9,400 more per year 5% higher sales = $76,800 more per year AVG. STORE ASSOCIATE SALES PER HOUR AVG. MONTHLY SALES PER STORE 24

25 Summary HR Metrics Sourcing Screening Trace a Metrics Map to tie HR to business objectives Predictive & Descriptive data: Consistent Accurate Reliable Efficient Build a candidate-centric pipeline Fill your talent pipeline with active and passive candidates Hire top quality candidates for greater productivity Checklist for hiring top quality candidates 25

26 A. Developing a Results-Driven Strategy Poll Of everything we covered today, which topics resonate most with you? B. Building a Talent Pipeline C. Identifying Top Quality Candidates Based on Fit 26

27 Learn More Additional Resources HR s Talent Success Checklist Innovation in HR: 3 Trends for Talent Acquisition What Makes Your Company Great? Red Bull Inspires 27

28 Questions? 28

29 Join Our Next Webinar If your operators and hiring managers are skilled at managing, not interviewing, this webinar is for you. Hiring Success Part 2: Turning Inexperienced Managers into Master Interviewers March 21, 2018 at 2PM EST 29

30 Charles Summers, OutMatch Transforming the world of work.