Yves Lermusi, President, Taleo
Talent is about a “state of mind”. Your top recruiters are your executive.
Kai-Fu Lee – Microsoft to Google – settlement reached.
27% – amount time spent by executives on talent related issues. (The Economist).
Finds who spend more on training outperform S&P 500. Taleo customers do the same.
HR should be a value creator, not a cost center!!!
Prediction of worker shortage by 2010, 40% of companies have no succession plan. The largest 500 companies will have 50% of senior executives attrite in the next 5 years.
Which metric to use? Wall Street looks at the revenue per employee. Yet this is not good enough. Total labor spent, which should
Return of Workforce = Operating Income / Total Labor Costs
Operating Levers: Skills, motivation, job fill ratio
Workforce Levers: Offshore, Downsize, Change compensation
HR is becoming talent management. Selection and succession planning are becoming strategic drivers. Assess, Acquire, Align and Develop.
Critical things:
Be the enabler of best of class talent management processes.
– Only the Outcome counts: Quality hires that fit. Do I have the right people on the bus in the right way? Do you fit your role? How well do we assess our strengths? Cornell Study – fascinating chart shows self perception of performance versus reality! Retention focus. Cost of workforce 36% of revenue (estimate)
– Screening accuracy – scientific versus art.
Age – bad predictor
Graphology – bad predictor
Education – some degree of validity
Experience – declines after 5 years
Reference Check – some degree of validity
Interview (unstructured) – some degree of validity
Job Tryout – some degree of validity
Cognitive Ability –Top 4 Predictor
Work Sample Tests – Top 4 Predictor
Interview (structured) – Top 4 Predictor
Peer Ratings – Top 4 Predictor (This is interesting as almost all of my linkedin endorsements are from peers)
Communication – Market Maker – communication needs significant improvement
OP + NT = EOP
Old Process + New Technology = Expensive Old Process
Supporters and detractors are built through effective communication.
Summary
1) Executives need to be involved.
2) Quality Focus and you will impact top line
3) Communication with stakeholders must improve
Checkster – new company – matching supply and demand – info@checkster.com
Prediction: In the next two years you will see major innovations in recruiting.
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Dr Marie-Paule Donsimoni-Bupp – CEO, IKM
No Head of HR in the Boardroom – This is a problem!
There is growing and strong competition from overseas for your talent. We can have access to almost anyone anywhere in the world. Example – Wipro – IT outsourcing company.
Blogs (Heather Hamilton for example), Internal referrals, HID
You may not have the people you want to have, but you need to do measure the gaps accurately so you can fill the position appropriately.
Shorten the recruitment cycle – You need to have a human intelligence database to scan your workforce when new roles emerge. Flexibility is paramount.
Strengths and competencies can far outweigh any gap, processes must adapt to this.
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John Zappe – Recruitment Analyst, Classified Intelligence
Personal Referral Programs – 3.9
Online Job Sites – 3.5
Social Networking Sites – 2.8
Career Fairs – 2.7 (Branding & Networking)
Print Media – 2.4
Employee referral plans – 45% expect to raise payouts in 2006
Career Fairs – flat spending
Social Networking – spending going up, though in experimentation phase, many had no opinion yet.
Niche professional sites, general/national sites – outperform
Diversity, regional and executive job boards – underperform
Linkedin – uncertain results, lots of time to farm and recruit
Niche site are on a higher growth rate to fill harder to fill positions
Question – Report shortcoming, no job seeker perspective. This was acknowledged.
Any changes in employee referral programs? Not measured.
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Discussion Panel:
Chair – Carl Kutsmode, Principal, Capital H Group
Ron Weber, Global Staffing Manager, Schneider Electric
Mobility when they are young, training the mindset, you must be comfortable with ambiguity, defining your terms (Ron)
General Questions on this topic – nothing groundbreaking
Germany – don’t put salary info in the ad, UK put it in the ad (David Hurst)
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Jerome Ternynck, CEO, MrTed.com
150 customers, 50,000 corporate users in 100 countries
China –
War for Talent in fierce in China
70% companies report problems to recruit
Salaries are growing fast
Staff Turnoveer average 13%
Agency market is booming
Becoming a “sales process” more than a “recruiting process”
But there is a contradiction…
Mismatch – 4 Million Graduates are coming out of Chinese Universities in 2006 and they have a hard time finding a job.
Steps to Success:
Gain Control
Streamline Delivery
Source Smart – no set standards in company brands – yet…
Hire Right
Train to Retain
If you follow these practices you will be in the top 5% of employers and have an advantage.
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Steven Rothberg, President and Founder, CollegeRecruiter.com
Extremely basic introduction to social networking – though much of the room seemed unaware of what he was speaking about in general.
Talked extensively about Generation Y attitudes and how they are indifferent to what is being perceived. (What he didn’t talk about is that perhaps the viewer should not be so judgmental and more understanding of these issues as they affect corporate culture even in the perfect candidates.)
Posting information on the Internet is kind of like getting a tattoo.
Problems for employers (assumes the information is accurate):
– If true, great for background checking but perceived as an invasion of privacy
– If bogus, lack of judgment by candidate but best candidates eliminated
– If bogus and posted by third party can you tell?
– Legal – tortuous interference with employment opportunities?
Sincere potential for potential backlash.
Legal issues:
Discrimination
Federal Communication Act – TOS outlaw commercial purposes
Benefits –
Remember this is all about networking
Alternative to resume searching
Candidates can advertise availability to you
Every employer should have a Myspace page. (While I agree with this sentiment, if you maintain the pathetic 94% non-response rate I saw quoted frequently throughout the conference it would be damaging to brands).
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Barry Mehrman, Director Employment Strategy, US Human Resources, McDonald’s
Workforce trends –
Aging
Workforce supply is beginning to tighten
Shortfall by 2010
Technology – POS, etc
Tope Sources:
Employee Referrals
Customer Employment merchandising
Community organizations
Media
Careerbuilder (29,700/420,000) higher application rate than Monster (19,550/479,200*) 2006 YTD *25% of visits come from mcdonalds.com
McState.com – local site
60% of hires come from Internet
Retention efforts are an area of increased focus
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John Benson, CEO, eFinancialCareers.com (has print media background)
Founded in 2000, publishes websites 14 countries and 6 languages
jobsinthemoney.com
Increased demand for professional skills
Increased demand for more diverse skills and cultures
The adoption of global norms, standards & qualifications
Skills becoming increasingly mobile
Demographic shift – the population is both aging and declining
How far would you move for a new job? 55% said they would go to a new country or new geography.
Solutions;
Work longer, retire later
Export jobs
Import talent
Content on sites drive traffic: pay news, hiring trends, etc
Does considerable Search Engine Optimization and Marketing techniques to create traffic.
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Chair, Hank Stringer, Managing Director – Qtalent, Consultant – ItzBig Partners
Bryan Burdick, COO, zoominfo.com
Faryan Yahsin, President, International Group, Careerbuilder
Matthew Embrescia, CEO, Dotjobs
Teresa Fearis, Partner Manager, SHL
Don Ramer, CEo, Arbita
Disconnect between expectations and realities of online recruiting exists. (Don)
People view it as a transaction and it can be transformational to both the individual and the company. (Don)
Online recruitment is a resource to attract talent. It is a sourcing channel not a complete solution. (Faryan)
Getting the right person in the right role at the right time, you need to work collaboratively to find the right role. (Teresa)
It can be more than just finding candidates. It’s a sales role more than a recruiting role. (Bryan)
We have dehumanized the process. We have to remember it’s about the people. It’s about a match between vision and value. (Don)
You gain a lot of efficiencies with online recruiting, but recruiting is a personal activity. (Faryan)
Transparency is bi-directional and an agreement of values. (Don)
Marketing will be necessary for the next generation of online recruiting. (Bryan)
We ought to be looking at how to make I more simple. (Don)
Candidates want quality, time savings and feedback. (Hank)
Aggregation of vast quantities of information is not what people want. People want to match their values with the ability to be value add to an organization.
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John Bell, CEO, Boxwood Technology
Looking for candidate that loves sports, food, money, SEX (millionairematch.com)
Dead last in where recruiters currently look: Association web sites
Associations Industry is huge!!!!!
86,000 associations in the U.S.
Annual budgets exceed $62 Billion Dollars
113 Million Dues Paying Members
27% goes to Education & Public Iinformation
21 million people attend conferences
5 million attend committee and board meetings
Micro niche job boards – percentage of total market matters
Afponline.org, American Marketing Association, aaf.org, the-dma.org, marketingcareernetwork.com
How do I find and association “job title” and “association”
(If you attended the ERE conference – come see what you missed at Onrec!)