Finding Hidden Budget Dollars in Your Recruiting Practices
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1 Talent Consulting and Recruiting Services Overview Align Optimize Recruit! Finding Hidden Budget Dollars in Your Recruiting Practices Illinois SHRM State Conference Oak Brook, Illinois August 19 & 20, 2013
2 2 Introduction Carl Kutsmode Partner Talent Acquisition Management Consultant with over 20 years experience. Talent Acquisition & Talent Management Systems, Process & Strategy optimization expertise. Managing Partner and practice lead of the firms Recruitment Optimization Management Consulting and On-Demand Recruiting Practices. Work with companies to assess, optimize and re-align their recruiting capabilities to best support the future talent needs of their business. talentrise Services Assess current recruiting practices and talent or compliance risks in order to Align future talent and business needs Optimize recruiting systems, processes and strategies to reduce costs and improve efficiencies Recruit the BEST talent to drive business performance Retained Executive Search Contract On Demand Recruiting
3 3 Today s Discussion Review the impact of the recession and recovery on your recruiting practices and budget decisions Discuss 10 action steps to optimize recruiting practices and more cost effectively and efficiently support your future recruiting needs Provide business case examples and data points to help you gain support from your executive team for resources or technology investments
4 Hiring & Layoff Trends The data says the recession is officially over! Hiring is steadily increasing upward within spikes Layoffs and voluntary separations have stabilized Hiring speed, efficiency and talent quality are keys to recruiting success! In June 2013, there were 3.9 million job openings, 81% higher than the series low in July The level was still below the 4.7 million openings at the peak in March Source Link: Labor Trends Summary
5 Economic Trends & Reactions 5 Economic Rebound Corporate Response Recruiting needs are trending upward unpredictable hiring spikes Cost cutting focus is replaced with investment in new tools and technology to gain efficiencies in the hiring process - do more with less HR/Recruiting staff The New Normal means informed decisions should be based upon data and relevant performance metrics Limited rehiring of HR, recruiting and admin staff Existing staff asked to broaden scope of work in order to do more / work harder Technology investments resume Focus on seamless data management, social media, mobile & video RPO or other outsourced recruiting models are evaluated to add future delivery model resource and cost scalability Focus on data analytics to drive recruiting performance and make informed decisions
6 Current Talent Acquisition Pressures 6 Q: Where Should You Focus Your Future Budgets and Priorities for Improvement? Strategic Talent Acquisition Talent RISK Mitigation & Planning Talent Supply / Demand Intelligence Top talent engagement, attraction and retention Identifying strategic & critical roles Proactive vs. Reactive Recruiting Proactive and Targeted Talent (Pipeline) Sourcing IN ADVANCE of Actual Need Pre-Hire Talent Assessment & Selection Alignment of Recruiting Model Alignment of recruiting model should scale resources & costs to support changing business needs for Top Talent Invest disproportionately in critical and strategic role recruitment budgets & resources
7 How Does Your Organization Currently Stack Up? 7 Starting Point: Assess your organization against the following to identify Efficiency and Cost Savings opportunities: 1. Strategic & critical roles are identified and invested in disproportionately to proactively recruit, develop and retain top performing talent 2. Talent systems, processes, tools and data are optimally used, streamlined and integrated 3. Recruiting model is scalable & recruiter performance metrics incent behavior aligned with changing business needs 4. Workforce and talent market data/ analytics are used to drive strategic talent sourcing decisions and budget spend Rate YOUR company on how efficient and cost effective you feel your CURRENT recruiting practices are using a scale of 1 to 5 5 = You feel your recruiting function is FULLY OPTIMIZED based on the criteria noted to the left
8 Example: Qualitative Assessment Insights 8 Use a scorecard to quickly identify the greatest opportunities for operational improvement and cost savings Talent Planning, Recruitment and Selection O CR SR Strategic Workforce Planning Talent Selection & Assessment Retention Core set of validated core competencies exists for each critical and strategic role formally identified. Manager/ Supervisor training and tools with behavioral anchors exists and are used. Strategic talent business aligned competencies are formalized and used in new hire selection and post hire development processes. Talent assessment and selection in operational and critical roles is standardized and validated assessment tools are used to assess candidates against core competencies and skills linked to business performance drivers Turnover data by role to identify trends in critical and strategic role turnover is done regularly. Turnover data is analyzed against industry and internal past benchmarks to identify trends and talent risks. Action plans to address risks are created and implemented proactively by management team. Stakeholder Input - Hiring Managers Recruiters & HR - Business Unit Leadership Executive Team - Recent Hires < 90 days (Optional) IT & Marketing Legend: O = Overall / All Roles CR = Critical Roles SR = Strategic Roles
9 Example: Quantitative Assessment Insights 9 Regular analysis of your current workforce data against industry talent benchmarks or your own targets and scenarios can mitigate or reduce future turnover and recruiting cost risks Engineer 3 Critical Role Source:
10 10 In the Future, Your Web Browser Becomes Your HR Workforce Data Management & Decision Support Dashboard Key Considerations Employee Data Privacy Data ownership Data & Network Security Physical Data Backup Integration functionality All your apps and data can be accessed via the browser on any device
11 11 Step 2: Identify strategic and critical roles in your organization that drive bottom line results linked to your business strategy Have you identified Strategic and Critical roles in your organization?: 67% of best in class recruiting organizations have identified their critical roles. 72% of organizations using talent assessment tools are able to identify critical roles effectively. 1 = Yes 2 = No 3 = Somewhat 4 = Not Sure Organizations with critical roles identified invest disproportionately in recruiting for them in order to fill these roles quickly with the BEST talent!
12 Focus Recruiting $ and Resources on Your Strategic & Critical Roles 12 Role Description Key Recruiting Actions Strategic Roles Directly Impacts Business Strategy creating value for the firm Usually < 15% of all positions NOT determined by Hierarchy Critical Roles Critical to delivering results to meet business objectives Roles serve as the company s Engine Invest heavily in recruiting to quickly fill these roles with the BEST FIT, quality talent Leverage Retained Search partners for one off hires OR a dedicated internal or contract executive search recruiter for multiple hires Recruit for fit and experience and invest in development technical skills gaps Optimize your in-house recruiting engine to be very good at internal and external recruitment for these roles Support Roles A role the business cannot do without Typically ongoing hiring needs Career path into critical roles Surplus Roles Do not directly create value for the firm Do not impact the business strategy Source: A Differentiated Workforce, by Dick Beatty PhD, Mark Huselid PhD, Brian Becker PhD. Optimize and automate recruiting process to gain efficiencies in volume hiring Focus on quality and low turnover Staffed by salaried or to mid level recruiters + contract recruiters, OR staffed by temp to hire OR RPO vendors Make little or no investment in these roles Look for opportunities to leverage and partner with contingent staff and RPO/Outsourced recruiting firms
13 Use Recruiting Performance Metrics That Matter 13 Step 3: Align your recruiting performance metrics to drive recruiter behaviors that fill your critical and strategic roles with the BEST talent, quickly Recruiting Cost Ratio (RCR) is a more accurate measure of recruiting costs and recruiter performance than Cost per Hire (CPH) CPH = Total Recruiting Costs / Total # Hires RCR = Total Recruiting Costs / Total Salaries Source: 2010 Corporate Recruiting Benchmark Report Staffing.org
14 Example: Impact of Managing to the Wrong Metrics Q: Which recruiter below do you feel performed better and was more cost effective if you base your decision ONLY on the following metrics in a report? Recruiter X Total Hires = 15 Recruiting costs = $66,000 CPH = $4400 Time to Hire: 90 Days Recruiter Y In your opinion, which recruiter performed better?: 1 = Recruiter X 2 = Recruiter Y 3 = Neither - This is a trick question Total Hires = 7 Recruiting costs = $84,000 CPH = $12,000 Time to Hire: 90 Days Recruiter X RCR = 8.8% Recruiter Y RCR = 8.6% What if you also had this information? Recruiter X Filled 15 Staff $50K each in 90 days (total salaries = $750K) Industry RCR Benchmark for Engineering is 13.5 Recruiter Y Filled 7 Senior Engineering $140K each in 90 days (total salaries = $980K)
15 15 Recruiting Cost Ratio (RCR) Benchmarks Example: Architecture / Engineering 13.5 Average over 5 years Source: 2010 Staffing.org Recruiting Benchmark Study
16 16 Step 4: Calculate the cost of a vacancy for INDECISIVE hiring managers who have Strategic & Critical Roles open longer than their peers! Hiring Manager Using the above business case, your hiring managers (and CFO) will quickly fund, and support, whatever is needed to fill a key vacant position faster with top talent!
17 17 Step 5: Ensure your talent systems & processes are standardized, streamlined and optimized Recruiting processes are streamlined, standardized and automated with minimal or no redundant manual data entry required Systems and processes are regularly aligned to support your current and near future business strategy Users are trained and using ALL of the capabilities of your existing systems Talent systems are seamlessly unified OR integrated (via API) to minimize redundant data management tasks Rate the efficiency of YOUR company s talent systems and processes on a scale of 1 to 5: 5 = Your talent systems and processes are FULLY OPTIMIZED based on the optimization criteria noted to the left Talent decisions are made using a realtime dashboard of KPI talent metrics
18 Most Common HR Technology Challenges Impacting Indirect Costs 18 Redundant, inconsistent and/or manual data entry and management of recruiting and new hire data into separate recruiting, HRIS, on-boarding and performance management systems or spreadsheets. Impacts staff time and results in more data errors and difficulty seeing the overall picture when reporting and analyzing metrics for trends Lack of user sophistication, adoption or skills training in utilizing the full capabilities of the existing and newly implemented systems. Impacts recruiter efficiency, data integrity, performance reporting accuracy
19 Data Management Systems Comparison 19 Typical Talent Systems Data Collaboration Model Unified or Integrated System Collaboration Model Recruiters Enter Recruiting Data into an ATS System Recruiters enter recruiting data into a single, integrated or unified talent management system HR Admin re-enters data into HRIS System for each hire Hiring Managers enter performance data in same system HR Admin updates new hire and onboarding data in same system Hiring Managers input Performance Data into a different Performance system HR Admin pulls data from 3 different systems to create management reports on recruiting, performance and new hire data Everyone can access their appropriate talent Dashboard and Report section of the system to view Real-Time metrics - anytime
20 Example: FREE Google Docs Cloud Technology Saves Recruiter Time! 20 Example of a Recruiter Candidate activity tracking log worksheet using a Google Cloud doc spreadsheet instead of Excel Each Recruiter enters their data real-time daily into the shared Google doc on their respective worksheet tab found at the bottom with their initials Do you still use manual spreadsheets to track recruiter activity? 1= Yes 2= No 3 = Don t know
21 Example: FREE Google Docs Cloud Reporting Tools Save $ 21 Example of a Recruiter activity metrics dashboard programmed to automatically updated real-time in lieu of paying for custom ATS reports to be created
22 Requisition Load Directly Impacts Recruiting Performance and Costs 22 Step 6: Ensure your recruiting / HR team is resourced adequately to manage ongoing & unexpected spiking requisition loads Do you have HR Generalists doing recruiting part time or dedicated recruiters focused 100% on recruiting? Do you have admin support staff supporting your recruiting or HR team to own lower value activities? Are your recruiters carrying requisition loads greater than 20 each for experienced corporate positions and 35 for high volume entry level or hourly ongoing recruitment? What is the requisition mix of your recruiters? Is it strategically aligned to your business needs? Do you feel your HR/Recruiting team is adequately resourced to meet the future needs of the business? 1 = Yes 2 = No 3 = Don t Know
23 Recruiting Cost Impact of Recruiter Requisition Load 23 As requisition loads increase, time to hire/vacancy costs increase, and quality of hire decreases Optimum Req Loads: 11 to 20 (25) Executive to Experienced (40) Entry level, College & High Volume / hourly Source: Recruiting Roundtable Benchmark Report Workload is defined as the average number of open requisitions per recruiter Experienced employees are defined as those with five or more years of experience up through first line management Executive employees are defined as those at the VP and above levels
24 Example: Time Allocation Impact on Recruiter Performance 24 For optimum performance, Recruiters / HR staff should spend the majority of their time on High Value Activities Lower Value Activities: 45% 30% - Managing admin activities with 17% being dedicated to just candidate interview coordination and scheduling 13% - Reviewing applicant resumes to posted jobs ( internal and external ) High Value Activities: 55% 37% of recruiter time is spent sourcing and phone pre-screening / interviewing candidates for match to current openings 5% of recruiter time is spent managing candidate and hiring manager relationships and driving the recruiting process forward 7% - Special projects & internal meetings 4% of recruiter time is spent proactively sourcing and networking for top talent 2% - Initial recruiting strategy meetings with hiring managers clarifying new open job specifications
25 25 Business case for shifting lower value activities to dedicated admin staff and investing in dedicated recruiters Recruiter / HR $75,000-$80,000K Jr. Admin Staff $25,000-30,000K If >45% of a recruiter / HR staff time is spent on lower value activities, the opportunity cost is about $33,750+ annually Shifting these activities to a 100% dedicated admin / coordinator at nearly the same budget amount frees up 45% more recruiter / HR time to spend on higher value recruiting activities. NOTE: For organizations with an HR generalist doing recruiting part-time it generally makes good business sense to engage a 100% dedicated recruiter once recruiting is 50% or more of their role. ROI 1. Improved Recruiter / HR Productivity 2. Faster Time to Hire 3. Lower Vacancy Costs 4. Improved Candidate experience!
26 Step 7: Strategically align your recruiters and sourcers efforts to improve efficiency and candidate experience related to their online sourcing efforts Current Practice Best Practice Redundant Candidate Contact Effort Inconsistent Candidate Experience Poor Employment Brand Use Recruiter Owned Network / No Metrics Loss of Recruiter Rolodex / Turnover Strategic and Integrated Approach Consistent Candidate Experience Consistent Company Branding Company Owned Network / Metrics Network Retention / Turnover
27 27 Step 8: Harness the power of SEO on job posting aggregator sites by managing budgets using Job Level analytics tools Aggregator Primary Benefits Automatic SEO optimization of your job keywords to drive traffic to jobs posted on: YOUR company website Association sites Niche job boards Major job boards Secondary Benefits Improved branding Broader pool of job candidates First page premium postings ($) Back end analytics and metrics
28 28 Shift from Campaign-level analytics and PPC spending to Job-level analytics and spending Campaign Level Pay per Click Only Bucket all of your jobs into one campaign i.e. 15 jobs, $2500 budget, $1 per click OR Bucket all of your jobs into several campaigns (sales jobs, IT jobs, Healthcare jobs) Some jobs within these buckets will consume majority of the pay per click budget while others will not receive any paid applicants Job Level Targeted Pay Per Click Applicant Capitalizes on initial posting FREE Click through traffic so you ONLY spend $ on jobs that need a boost when traffic slows: Job-level promotion if needed Many jobs do well on FREE PPC SEO so don t spend $ on them! Full control of your budget Enables you to only spend on jobs that you receive pay per click applicants from = (ROI)
29 29 Lots of CLICKS to view your jobs are Great.but APPLICANTS to your jobs = Hires & ROI! Aggregrator Site Metrics # jobseekers views / job ( but didn t click on it to apply! ) # paid clicks / campaign $ spent to date / campaign Metrics that Matter $ paid / Clicks / job $ Paid / Applicant / job # Free Clicks / job # Free Applicants / job $ spent / job Paid conversion rate / job Free Clicks $ Boost $ Boost Source:
30 Business Case for Investing in Third Party Analytics Tools 30 Tracking at Campaign Level After Tracking at Job-Level $2,500 Monthly budget spent on a popular job search engine SEO campaign 50 jobs were grouped into one campaign Campaign level analytics on clicks by job and $ budget used were provided $1190 (47%) of budget was spent on 10 jobs with ZERO applicants. = $0 ROI for those jobs Client tracked the initial posting organic/free clicks AND applicants by job and overall campaign metrics A third party analytics tool, identified declining FREE click traffic trends by job and identified opportunities where a boost in PPC traffic was needed. 100% of the $2500 budget was spent ONLY on jobs that needed a boost, resulting in paid applicants 680 clicks yielded 128 applicants for 13 jobs. ROI = nearly 10 applicants per job! Source:
31 Strategic Talent Sourcing Knowledge is POWER! 31 Step 9: Leverage workforce demographic data analytics tools to make strategic and cost effective talent sourcing, compensation and expansion decisions.net Developers Source:
32 32 Other FREE and PAID $ talent intelligence resources available online
33 33 Step 10: Invest in Validated, Predictive, Pre-Hire Fit Assessment Tools to save time and reduce Mis-Hire Risk 57% of organizations say that talent acquisition is the most important HCM process to enable the organization to execute business strategy Organizations strive for objective decision support tools to get make informed hiring decisions: Pre-hire Assessments: Skill, personality, and competencybased References: 360 Online reference verifications
34 34 Predictive Assessments Reduce Turnover Costs and Improve Your Ability to Predict Talent Quality Source:
35 35 Online 360-degree reference assessment tools combined with traditional reference checking practices save time, mitigate mis-hire risks and are low cost (Generally < $50 per assessment)on More references Online 360 Solution 5+ business references 50% of which are former or current Supervisors Typical Phone Check 2 to 3 Faster 1 to 2 days 5 to 10 days Pauses a hiring decision 5% - 10% of candidates < 1% of candidates? Passive sourcing tools Compliant/Legal Risk Average 5 references per candidate warm leads Supports compliance with EEOC and OFCCP Ad hoc Uncertain/Inconsistent Source:
36 EXAMPLE: SkillSurvey Online Assessment Tool Insights 36 Developmental Need Quality of hire is a priority and Online Reference 360 tools have statistically shown to decrease involuntary turnover = Reduces turnover costs years of statistics prove out - SkillSurvey References Perceive Candidates in the following categories Great 5-10 % High Risk Candidates Moderate % Moderate Risk for Success Candidates Minimal 80-85% Validated Low Risk Percent Source:
37 10 Steps To Reducing Future Recruiting Costs! 37 Starting Point (Step 1) Assess your current practices to identify opportunities & gaps. Step 2: Identify strategic and critical roles that drive bottom line ROI. Step 3: Align your recruiting performance metrics to drive recruiter behaviors to fill critical roles quickly with top talent NOT just at the lowest cost. Step 4: Calculate the cost of a vacancy for difficult hiring managers to accelerate hiring decisions. Step 5: Ensure your talent systems & processes are standardized, streamlined and optimized and staff fully trained on their use!
38 10 Steps To Reducing Future Recruiting Costs! 38 Step 6: Ensure your recruiting / HR team is resourced adequately to manage ongoing & unexpected requisition loads. Step 7: Strategically align your recruiters and sourcers efforts to improve efficiency and candidate experience related to their online sourcing efforts Step 8: Harness the power of SEO on job posting aggregator sites by managing budgets using Job Level analytics tools. Step 9: Leverage workforce demographic and turnover data analytics tools to make strategic and cost effective talent sourcing, compensation and expansion decisions. Step 10: Invest in Validated, Predictive pre-hire talent Fit assessment tools to reduce the risk of a mis hire
39 39 Best in Class Talent Acquisition Practices Critical Roles identified and aligned with business drivers Standardized, streamlined interview and selection process Use strategic screening and assessment tools to gain insight into and predict new hire performance Invest in technology & assessment tools Leverage talent data strategically to business profitability
40 Don t Miss our Video Vanguards Conference Sept 26 th Aurora IL 7:45am 2:00PM Taking the mystery out of using online Video for recruitment, branding and engagement! Integrating video interviewing into your legacy processes Harness the power of Job and Culture Videos Mobile video s to engage the younger generation Video used to attract top talent to your jobs via social media and SEO See professional employment videos being produced live in the JSTN Studios! Get in for FREE with this discount code: COMPVVTIX344 (Save $49!)
41 41 Questions & Feedback Carl Kutsmode, Managing Partner Ph Do you feel this session met or exceeded your expectations for helping you identify hidden budget dollars in your future recruiting practices? 1= Yes 2= No 3 = Somewhat
42 Resources Talent Supply / Demand and Analytics Tools SEO Pay per click Job Level Analytics: Talent Market Supply & Demand Analytics Wanted Tech: Talent Supply / Demand Wanted Analytics (2 Week FREE TRIAL): Wanted Analytics sample report -.NET Developers in Chicago: Careerbuilder Supply / Demand Market Analytics ($) - Orca Eyes SonarVision Talent Market Insights - Workforce Intelligence Analytics Tools Orca Eyes- Workforce Intelligence Tools Visier Workforce Analytics Tools Tableau Software Data analytics tools
43 Resources Employment Stats and Pre-Hire Assessment Tools (FREE) Department of Labor Unemployment Statistics Comprehensive Unemployment and Labor Stats: Unemployment Stats by State / Local Markets - Employment Trends Statistics Report June Predictive Pre-Hire Assessment Tools Profiles International (Professional, Sales & Executive) - DeGarmo Group (Hourly, retail & customer service) SkillSurvey Checkster -
44 Resources Benchmark Studies, White Papers etc. A file folder on Box.net including all of the following Talent Acquisition Research & Benchmark Studies can be downloaded at : Individual Studies and Reports Can be downloaded by clicking the links below: Careerbuilder - Talent Trends, Insights, blogs - Aberdeen - Strategic Talent Acquisition Best in Class Study 2013 Aberdeen - Online Reference Checking Tools & Trends 2013 Aberdeen The Future of the Candidate Experience 2012 Aberdeen Candidate Relationship Management Tools & Trends 2012 Aberdeen Human Capital Management Trends 2013 Aberdeen Recruiting Technology Trends 2013 Aberdeen Talent Risk Management through Analytics 2012 Visier - The State of Workforce Analytics in Talent Planning Study Staffing.org Recruiter Workload Study 2012 SHRM.org Cost per hire and other performance metrics 2012 CareerXRoads Sources of Hire Survey Results 2013
45 Resources Talent Acquisition Consulting & Recruiting Services Illinois SHRM 2013 Presentation Copy - Finding hidden budget dollars in your recruiting practices - Presentation Resources List - Talent Acquisition Management Consulting & Recruiting Services TalentSCAN & TalentRISK Recruitment operations optimization & workforce RISK diagnostic assessments TalentSEARCH Retained search for specialized, niche and mid to senior executive levels TalentON-DEMAND Interim / project based contract recruiting for hiring spikes
Recruiting Recovery Finding Hidden Budget Dollars in Optimized Recruiting Practices
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