Co-Driving innovation

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Leona Black
8 years ago
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1 Randstad Innovation Fund (RIF) Co-Driving innovation Ilonka Jankovich / Paul Jacquin November 2014

2 Randstad Innovation Fund: Why? To drive external innovation in Randstad group by investing in HR technology companies HR Technology is an emerging industry sector, aimed to: Improve HR Processes: Productivity Expand Client offerings: Quality of Client proposal Create new business segments and concepts: Advanced Delivery Learn and shape the world of work 2

3 Investment Scope Earmarked capital of up to 50M (over 5 years) 15 minority investments for the whole Fund at a pace of 4/5 p.a. Expected life time of a venture within the portfolio of 7-10 years Initial investment of 1 3M (20 30 % of committed capital) Targeted segments: online platforms, social sourcing, matching technology, video interviewing, talent networks, visualization, gamification, mobile and SME propositions 3

4 Ecosystem and Governance Investment Committee Linda Galipeau (Chair) Jacques van den Broek Hans Wanders, Han Kolff Advisory Board Fund Management Portfolio Companies 13 Randstad Executives Mix of disciplines and geographies Connections with Group / OpCos Ilonka Jankovich, Paul Jacquin Asif Khan, Nick Kalliagkopoulos HR Technology ventures Seed, Series A / B Co-investments with VCs Randstad OpCos Knowledge Sharing, Product Presentation, Use of Tools Cooperation (Pilots and Partnerships) 4

5 Operational vs. Strategic: Seeking the right mix Strategic (new offering) Outplacement Big Data Analytics Online Platforms Services Platforms Referral Tools E-onboarding Work Scheduling Social Sourcing Research to date Integrated Solutions Video Interviewing Operational (existing processes) Actionable Short term Long term (maturity) 5

6 Business models are evolving Traditional Staffing 300B Industry; limited growth (= GDP) Traditional Staffing matches clients with the local candidates with limited value added services. Hybrid Buyer/Client Candidates In the Hybrid model, Randstad provides multiple tools to both clients and candidates which helps in increasing efficiency and engagement. Buyer/Client Multiple tools including ATS, billing, referral, targeting, sourcing, etc. Candidates Online Platforms 2013 total spend of 1.2B; 2014 proj. growth >30% Digital platforms provide intermediation between clients and candidates which may include matching, billing, compliance, etc. Buyer/Client Platform Candidates 6

7 Journey in innovation: Candidate Process Resume Building Searching Connecting Applying Testing Interviewing Use resume building websites and services to stand out from crowd Automatic matching brings you positions/project s across multiple devices Connect with companies and agencies using online (talent) communities; Checking reputation Easy application: in future more skill than cv based? Display your aptitude with online tests and games at filtering stage Be ready for interviews and / or video interviews Succession Retention Training Onboarding Offer 7 Be part of exemployers alumni communities to strengthen your network Retention through engagement (health, recognition, etc.) and rewards To continually update skills, gain online/offline inhouse and / or external training Access onboarding content on multiple devices Congrats, sign your offer digitally or start your project (sometimes remotely)

8 Journey in innovation: Client Process Targeting Sourcing Screening Selecting Matching Targeted Client sales through Big data and Job Feed scraping Community Utilize social sourcing, matching tech and talent communities and online targeted marketing Feedback Big data analytics for screening, effective aptitude and skill testing Billing Conduct video interviews along with on-campus interviews Monitoring Match the clients requirements with the qualified candidates 8 Maintain an online community of readily available candidates for faster client response Create database of feedback from both clients and candidates for better decision making Using integrated billing systems, send invoices, collect payments and pay candidates Manage candidates using mobile & localization, preempt changing needs of clients, online work scheduling

9 Mapping of HR technology landscape Talent managing & developing job alerts workforce outplacement management (time/absence) social collaborat ion career advice mobility job board aggregators payrolling HR management system skill assessment work scheduling Employer acquiring freelancing / outsourcing platforms candidate experience Matching resume builder professional & social networks job search profile organizers aggregation social job software onboarding e-learning tools video interviewing compliance & verification gamification scheduling assessment tools talent network & social search e-staffing candidate shortlisting resume parsing software job marketing & college distribution recruiting virtual events talent community predictive management software analytics online platforms service platforms integrated tools/solutions big data/analytics applicant tracking systems HR management outplacement employer branding 9

10 We live in a collaboration economy Randstad collaborates with all stakeholders and integrates technology in its service in order to be efficient and transparent & to offer new emerging services RIF contributes know-how to technology solutions and closely monitors disruptors in order to contribute to Randstad s goal to be in the forefront of innovation We shape the world of work 10

Prestige Staffing Personnel is locally owned and operated and has continuously provided

Company profile The Complete HR package Prestige Staffing Personnel is locally owned and operated and has continuously provided the complete human resources package on a national level since 1998 including: