SMART SOURCING A MARKET FOCUSSED RECRUITMENT SOURCING STRATEGY

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1 SMART SOURCING A MARKET FOCUSSED RECRUITMENT SOURCING STRATEGY

2 EXECUTIVE SUMMARY The key drivers that drive talent acquisition in good times and bad times, in tight labor markets or soft ones largely remain unchanged. Businesses always need highly skilled talent and in order to grow they need to attract & deploy that talent in focused ways. The traditional just-in-case candidate fill approach does not contribute to sustainable business success. The effective method is to align workforce planning initiatives to corporate objectives in a word to Strategize. The real importance of talent acquisition & the door opener for talent management at the proverbial seat at the boardroom table, is the recognition that a business cannot reach the right talent without making a conscious strategic effort to do so. This white paper attempts a blue print for creating a sourcing strategy aimed at improving the talent acquisition process. It describes the key components required to successfully complete a full recruitment cycle while ensuring key stakeholders are aware of their shared accountabilities in the sourcing process.

3 SMART Recruitment Strategy SMART SOURCING Strategize Measurement & Analytics Recruiting Channel Train Workforce Planning Prioritization Recruiter Capabalities Interview Plan Systems/Resources Budget KPI's Strategic Scorecard Outcomes Milestones Onboarding & Retention Digital Ecosystem CRM Recruiting 2.0 Agencies Talent Communities Succession Planning Talent Market Intelligence Competitor Overview Business Overview Join the community

4 Workforce Planning & Prioritization Define the criticality of a role to determine size, scope, & sourcing strategy resources required to achieve successful hiring outcome Mission Critical Hard to Fill Significant Business Impact

5 Recruiter Capabilities Recruiting Coordination * Transactional * Tactical Recruiting Generalist * Leverage traditional recruiting channels Strategic Talent Acquisition * Advanced Sourcing skills * Strong Networking capabilities

6 Measurement & Analytics Performance Indicators must be established with the hiring manager before the recruiting process begins Candidate pipeline development should be tracked against key/ critical roles Turnover by length of employment Align recruiting metrics with existing business perfomance objectives

7 Onboarding: Key phases in the on-boarding process Preboarding requisition Pre-boarding offer acceptance Orientation portal Employee Provisioning Employee Induction

8 Measurement: Key Performance Indicators Metric Definition Performance of the Hire On the job performance ratings after 6 & 12 months New Hire Failure Rate Referral Rate Manager & New Hire satisfaction Quality of source Recruiter Cost Ratio % of new hires in key jobs who were terminated The % of hires from referrals ( both external/internal) % of key business heads, new hires in key jobs and applicants for key jobs that were satisfied with the hiring process The % of applicants for key jobs coming for top sources The ratio of total Recruiting cost and the total compensation paid

9 Recruiting Channels (Digital Ecosystem) Job Boards Social Networks SEO/SEM Job Aggregators ATS/CRM Mobile Recruiting Online Referral Passive Database

10 Recruiting Channels (Recruiting 2.0) Technology is transforming the talent landscape and the way we recruit talent. Future predictions include intelligent search capabilities (Semantic Search), mobile recruiting, and advanced CRM capabilities Recruitin g 1.0 Print, paper based recruiting Newspaper advertising Recruitin g 2.0 Cloud computing/recrui ting Online virtual communities Job fairs, career fairs Agency Partners(accounta bility) Cold calling Job boards Head Hunters Post and hope Social researching Niche job boards/search engines Integrated online compaigns

11 Recruiting Channels (Talent Community) A Talent Community is An organized group ( database/website) of individuals Where employers can interact with current and future prospective employees To communicate currently active or future job opportunities Using enhanced and /or automated technology Which enhances both the employers ability to find/fill opportunities with the best possible candidate And where candidates are aware of the best possible opportunities to maximize their careers based on their specific skills and interests Source: Steven Chen, Recruitment Marketing Strategy Manager, IBM ( July 10, 2009)

12 Talent Community Group Passive Candidates Recruiters Contact Career Site Prospective candidates Past Applicants Good Quality/Wrong fit Import from ATS System Current Employee Past employees( Alumni) Working within company Enhances referrals Amplifies Alumni referral

13 Train & Educate (Shared Accountability) Hiring Manager Scope & Deliverables Organizational & Business Structure Assessment of current team skills & gaps Succession Planning Criticality of role( Core, Key, Critical) Business Overview Long term growth opportunity Current top performers Key performance Indicators Onboarding Recruiter Recruitment Procedure & Process Recruitment Channels Interview Process & Candidate Management Expectations & Consequences Recruitment Challenges Competition Overview Service Level Agreements Regular Updates Talent Market Intelligence Recruitment Costs

14 Key Insights Create an agile sourcing strategy that can flex with changing business conditions Interview & interface with key business functionaries to get a real perspective on the importance/criticality of the job Connect business strategy with sourcing strategy Integrate the Recruiting, On-boarding, HR & IT processes in one Talent Management framework ( reduce silos) Align recruiting technology with the reality of the mobile workforce Communicate & educate to hiring managers Eliminate, outsource redundant HR activities

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