Strategic Talent Sourcing. HR.com Susan Lewis

Transcription

1 Strategic Talent Sourcing HR.com Susan Lewis

2 Agenda 2 Critical Selection is it really necessary? MD an overview Strategic Sourcing Model Bringing it together Best practice Q&A

3 Top of mind: 3 Divert some of your attention away from the traditional recruitment approaches; Define your talent standard and talent profile it is the benchmark for hiring, promoting, and firing decisions; Engage in active talent identification. Is this a short-term journey or a long-term relationship?

4 Poll Question: 4 What role do you currently hold in your organization? HR Generalist HR Business Partner Recruiter/Talent Acquisition Other

5 MD Puts Physicians First Created in 1969 to manage the retirement finances of CMA members Wholly owned by the CMA and an exclusive benefit of CMA membership MDPIM US EQUITY POOL For more than 40 years, MD has committed to a tradition of trust Uniquely focused on driving maximum value for members through objective non-commissioned advice and world-class investment management Guide more than $30 billion in assets for over 100,000 physicians and their families Our advisors provide solutions not just products tailored to our clients individual needs Our team of specialists delivers expertise and advice, tailored to each unique situation employees in Canada including Home Office and 49 regional offices 5

6 Talent: Why should we care? 6 Risk Cost impact Lifetime impact Replacement TORTS!

7 BUT the competition is tough for top talent who are actively seeking a change!! Conventional sourcing strategies really only target active or nearactive candidates. 7 PASSIVE NEAR- Career Satisfaction Factors Like People Happy in Job Compensation Satisfactory Career is growing Learning/having new experiences Exciting Work Fulfilling other needs (altruistic)

8 PASSIVE NEAR- 8 Ideal MD Candidate This approach is not targeted to MD s Ideal Candidate. This approach ignores a very large addressable market Most sourcing draws in those actively searching or thinking about a career change. MD Job

9 Strategic Talent Sourcing Model 9 SEGMENTATION PROFILE KEY MESSAGES SOURCING CHANNELS CRM Develop a comprehensive profile of the ideal candidate for critical functions to MD (e.g. Portfolio Manager) Will tell us where to find such an individual; the best channels to reach them and the messages that resonate with the ideal candidate Develop key messages to appeal to ideal candidate in critical functions to MD This messaging will drive branding; content for job postings; content for ads; content for speaking opportunities For all key functions in MD, develop sourcing channel plan to reach these ideal candidates BOTH when there is active recruitment and for long term sourcing for a Candidate Relationship Management program This program will allow MD to identify high potential candidates and bring them into our CRM The CRM program will establish and nurture long term relationships with target candidates 9

10 Strategic Talent Sourcing - all encompassing PASSIVE NEAR- 10 a sourcing approach that combines a short-term active approach and a longer-term prospective-candidate engagement strategy a program that has clearly identified a target audience to source accompanied by the appropriate plans and tactics to make it happen successfully

11 Bringing the STS Model to life PASSIVE NEAR- 11 Goals of STS Program: 1. Find more Ideal MD Candidates

12 PASSIVE NEAR- 12 Goals of STS Program: 1. Find more Ideal MD Candidates 2. Increase # of Ideal MD Candidates into our recruitment funnel

13 PASSIVE NEAR- 13 Goals of STS Program: 1. Find more Ideal MD Candidates 2. Increase # of Ideal MD Candidates into our recruitment funnel 3. Improve # of Ideal MD Candidates hired

14 HOW will we do it?? 14 PASSIVE NEAR- Ideal MD Candidate Starts with understanding the ideal candidate! SEGMENTATION Research the profile of the ideal candidate for MD in each role (e.g. Portfolio Manager) What are the attributes, behaviours, career patterns and indicators of high potential for MD What are the relevant career satisfaction factors This will inform key messages to these target candidates AND channels to reach them

15 Strategic Talent Sourcing: Portfolio Managers 15 SEGMENTATION What do we want to know? Who are MD s best performers? Where do they come from regions, cities, etc.? What education do they have? Schools and accreditation? What stage are they in career? How long have they worked in this area? What types of clients do they prefer? How do they stay current and informed? What associations, newsletters, subscriptions do they access? What do they use the internet for? Do they work with team or are they independent? What companies may they have worked in? Why are certain companies aligned to MD values? Other questions What sources of information can we use? Success profiles for Portfolio Managers Interviews with regional leaders, and with top performing PMs Research on target sector types of events, publications, associations, etc. Experience of recruitment team Research studies Other? How will this help? Will tell us how we can reach candidates advertising targets; sponsorships; speaking events; on-line ads; Appropriate messages for this particular audience How to source, recruit, interview and once hired retain!

16 Poll Question: 16 Are you familiar with a Success Profile? Do you use it for talent decisions? No Yes but don t use it for talent decisions Yes and use it for talent decisions

17 Success Profile Key elements 17 Essential experience Critical knowledge Competencies Personal style Table stakes characteristics Key accountabilities

18 MD s Portfolio Manager Avatar Belief System Cerebral, intellectual Enjoy dealing with clients that are equally intellectual and to be an advisor to such a client MDPIM US Expert EQUITY working with clients POOL that want and need to be educated Prestige and exclusivity around this level of knowledge and expertise Passion Highly relationship focused; strong desire to support and satisfy demanding and hard to please clients Knowledge sharers like to impart and gather information Motivation Tangible measures of success for this level of expertise - $$ and title Being sought after as expert Prestige for caliber of knowledge and for client (physical setting) Tools Highly reliant on IT systems Tablet and mobile devices prestige and exclusivity Information sources Foundation CFA Level 1; 8 years as advisor Has gone through 2 market cycles so 15 years in industry 18

19 HOW will we do it?? 19 PASSIVE NEAR- Ideal MD Candidate Starts with understanding the ideal candidate! MESSAGING Based on what we know and what we discover develop the messages and brand that speaks to these passive candidates GOAL is to implant the idea of a MD as a career choice to all passive and active ideal candidates This messaging will be heard through branding, recruitment activities, marketing programs, speaking notes, and on-line activities and promotions

20 HOW will we do it?? 20 PASSIVE NEAR- Ideal MD Candidate Starts with understanding the ideal candidate! CHANNELS Based on what we know and what we discover we will develop strategic sourcing programs that address a full spectrum of channels to REACH the active, near-active and passive candidates Develop plans and programs with a view to: find talent nurture relationships convert passive candidates to active candidates close on Ideal MD Candidates

21 HOW will we do it?? 21 PASSIVE NEAR- CRM Candidate Relationship Management Program Develop programs that reach the target candidates to: Bring them into our recruitment funnel Groom their interest in MD using Candidate Relationship Management system/program

22 Bringing it all together 22

23 Portfolio Manager Avatar Belief System Cerebral, intellectual Enjoy dealing with clients that are equally intellectual and to be an advisor to such a client Expert working with clients that want and need to be educated Prestige and exclusivity around this level of knowledge and expertise Passion Highly relationship focused; strong desire to support and satisfy demanding and hard to please clients Knowledge sharers like to impart and gather information Motivation Tangible measures of success for this level of expertise - $$ and title Being sought after as expert Prestige for caliber of knowledge and for client (physical setting) Tools Highly reliant on IT systems Tablet and mobile devices prestige and exclusivity Information sources For internal use only Key Messages 1. MD has exclusive and unique clients we need exclusive and highly knowledgeable experts. 2. Portfolio Managers at MD highly value sharing amongst their colleagues the think tank knowledge this group shares is powerful for clients. 3. What your head and heart thinks matters to your clients and matters to MD. Important Events & Networking Opportunities CFA Society Toronto Annual Forecast Dinner Sourcing & Networking Tools Networking Tips & Tools Planning your needs Sourcing Strategies Evaluating Fit Questions for informal meetings and formal interviews Building long term relationship for the future 23 Foundation CFA Level 1; 8 years as advisor Has gone through 2 market cycles so 15 years in industry

24 Networking Tips & Tools Key Messages for Portfolio Managers MD has exclusive and unique clients we need exclusive and highly knowledgeable experts. Portfolio Managers at MD highly value sharing amongst their colleagues the think tank knowledge this group shares is powerful for clients. 24 Speaking Notes (for networking and speaking events) Want to take a brief moment to talk about MD and the people out in front with the client, but also behind the scenes. MD knows that these are high-relationship individuals so we don t expect when we are adding to our team that these people are simply available and ready when we are there is a relationship there that needs to be formed over time; we value this in our people and if this is your own nature there could be a good fit for some time in the future.

25 For internal use only 25

26 For internal use only 26

27 27 WFP Successio n Planning Culture Assessment Tool Job Fit Assessment Tool Hire to culture fit Grow our own talent Career Pathin g Talent Review Success Profiles Transform MD into a hi-performing organization Learning Organization Employee value proposition Onboarding Intervie w Guides

28 Best Practices 28 Are we proactively building talent pipelines? Do we have a candidate relationship management system that can help us keep candidates warm? Do we update potential candidates regularly about our career opportunities and organizational and industry news? Do we update potential candidates with content tailored to their interests and preferences? Do we ensure that potential candidates can interact with us in a variety of ways? Do we have consistent employment brand messaging across all of the channels where potential candidates can interact with us? Can we measure how our talent pool interacts with us?

29 Q & A 29