Hiring to Win: Secrets to Sourcing and Selecting Top Talent

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    23-Jan-2015
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Savvy organizations know top talent is a critical driver of their ability to succeed. But at the same time, more and more top performing companies are concerned about talent shortages. They realize their ability to locate and land top talent will be a competitive differentiator in the years to come. What is your plan to win this war for talent?Join Mollie Lombardi, research director for Aberdeen's human capital management practice, as she reveals findings from her 2011 study of talent acquisition strategies to help your company source, select and put to work the top talent that will power organizational results.

Transcript of Hiring to Win: Secrets to Sourcing and Selecting Top Talent

  • 1. Hiring to Win: Secrets to Sourcing andSelecting Top TalentSpeaker: Mollie Lombardi Research Director, Human Capital Management Aberdeen GroupModerator: Vijay Ramakrishnan Director of Product Marketing Taleo #TMwebinar

2. Q&A Click on the Q&A iconon your floating toolbarin the bottom rightcorner. Type in your question inthe space at the bottom. Click on Send. #TMwebinar 3. Tools You Can Use Polling Polling question will appear in the Polling panel. Select your response and click on Submit. #TMwebinar 4. Frequently Asked Questions1. Will I receive a copy of the slides after the webinar? YES2. Will I receive a copy of the recording after the webinar?YES Please allow up to 2 business days to receive these materials. #TMwebinar 5. Hiring to Win: Secrets to Sourcing andSelecting Top Talent Vijay Ramakrishnan Director of Product Marketing Taleo#TMwebinar 6. Hiring to Win: Secrets to Sourcing andSelecting Top TalentMollie LombardiResearch Director, HumanCapital ManagementAberdeen Group#TMwebinar 7. Hiring to WinSecrets to Sourcing and Selecting TopTalentMollie Lombardi Research Director,Human Capital ManagementAugust 30, 2011 8. Mollie LombardiResearch DirectorAberdeen Groupq Mollie is a researcher, speaker, writer and senioranalyst in the human capital management field, witha primary focus on how organizations enablebusiness success by unleashing the potential andproductivity of their workforce. She has surveyedand interviewed thousands of end-users to betterunderstand the key challenges facing today s HRand talent management leaders, as well as uncoverthe Best-in-Class strategies, capabilities, tools andtechnologies they are using to address thosechallenges.8 9. Our Agendaq Introduction & Overviewq Map the Needsq ItTakes a Villageq Manage Risk by BuildingTalent Poolsq Integrate Data to Fine Tunethe Hiring Engineq Wrap-up and Q&A9 10. Drawn from our World Class AssessmentsResearchq Publishing September2011q Studied 506organizations and theirTalent Acquisitionstrategiesq Covering a wide varietyof industries andgeographies10 11. Domain Expertise CommunicationsCustomer EnterpriseGlobal Supply GRC/FinancialITManagement Applications ManagementManagement InfrastructureBusiness Human CapitalIntelligence ManagementSupply ChainServiceRetail and ProductManufacturingIT SecurityManagementManagementBanking Innovationand Engineering11 12. 12 13. 13 14. Aberdeen Maturity Class Framework Selected PerformanceBest-in-Class - Top 20% Criteria (KPI)First Year Retention IndustryTime to Productivity Total Average - Middle 50%Respondents:Change in hiring mgr satisfaction Laggard - Bottom 30%Respondents are scoredindividually across KPI14 15. Aberdeen Maturity Class Framework PA CE q What you need to do to Best-in-Class become Best-in-Classq What processes youshould have in placeq What you need to Industry measure Averageq Organizational changesyou might want to makeq Data / Knowledgemanagement Laggardconsiderationsq Technologies you shouldevaluate15 16. Key Themesq Map the Needsq ItTakes a Villageq Manage Risk by Building Talent Poolsq Integrate Data to Fine Tune the Hiring Engine16 17. Map the Needs17 18. POLLq Whatare the top pressures driving your current talent acquisition strategy? q Shortages of required skills available in the labor pool q Pressure to meet the company s growth objectives q Retirement of baby boomers, and accompanying leadership voids q Inability to retain new hires q Increasing competition in the marketplace for top talent 18 19. Pressures Driving Talent Acquisition Efforts60%All Respondents52% 49% percentage of respondents, n=50649%40%20% %Increasing competitionShortages of required Pressure to meet the in the marketplace for skills available in thecompanys growthtop talentlabor pool objectivesSource: Aberdeen Group, The Talent Acquisition Lifecycle, September 201119 20. Talent Acquisition Strategies50%Best-in-Class43% percentage of respondents, n=50641%41% Industry Average 35%35%Laggard34% 33% 31% 31%25%22% 22% 18% %Strengthen ability Proactively build Create a better Building a talent to identify talent candidatecandidate acquisition most likely topipeline experienceculture succeed Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 20 21. 79%of Best-in-Class organizations have defined core competencies (skills, knowledge, and attributes) at the start of the hiring processSource: Aberdeen Group, The Talent Acquisition Lifecycle, September 201121 22. Where do Competencies Come From?q Existing high-performersq Company Valuesq Forward Looking Strategy 22 23. Goals for the Use of Assessments75% 70%All Respondents percentage of respondents, n=51648% 46%50%25%0%Improve business Deliver leaders to drive Improve organizationalresults through better innovation and growth fit among new hiresquality candidatesSource: Aberdeen Group, Assessments 2011, April 201123 24. Importance of Assessment Data for CriticalDecisions4.5 Best-in-ClassIndustry Average percentage of respondents, n=5164.2 4.1Laggard4.04.03.8 3.7 3.63.5 3.4 3.3 3.3 3.23.02.9 2.92.5Who to hire Who is deemedWho to interview Who is promotedhigh-potential Source: Aberdeen Group, Assessments 2011, April 2011 24 25. It Takes a Village 25 26. Most Effective Sources for Candidates4.5Best-in-Class percentage of respondents, n=5064.24.03.53.33.1 3.03.02.5Employee An easy-to-use Online job boards Social networkingreferrals andand engaging sitesnetworkscompany career portalSource: Aberdeen Group, The Talent Acquisition Lifecycle, September 201126 27. Hiring may slow or stop, but talent acquisition never does~ Lou Manzi, Former Vice President,Global Talent Solutions, GlaxoSmithKlein 27 28. Nature of Talent Acquisition Strategy60% Best-in-Class Industry Average Laggard 50% percentage of respondents, n=50648% 44%42%40% 36% 33%20% %Continuous - Identifying and Reactive - focused on immediatecultivating relationships with tophiring needs prospects is always a prioritySource: Aberdeen Group, The Talent Acquisition Lifecycle, September 201128 29. Best-in-Class organizations are 72%More likely to cite building a corporate culture where everyone views talentacquisition as part of their job as a top strategy Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 29 30. What s in a Brand? 30 31. Supporting Capabilities100% Best-in-Class All Others percentage of respondents, n=506 81% 79%77%75%72% 65% 65% 54%50%50%25% 0% Hiring managersCoreClear Critical job roles have visibility into competencies accountability for identified candidate statusare defined onboarding processSource: Aberdeen Group, The Talent Acquisition Lifecycle, September 201131 32. Leadership Involvement in Onboarding100%Best-in-ClassIndustry Average 83% percentage of respondents, n=282Laggard 74%75%69% 52%50%41% 35% 29% 29%23%25% 0% Hiring managerSenior-rankingBuddy / mentor organizational executiveSource: Aberdeen Group, Onboarding 2011, March 2011 32 33. Manage Risk by Building Talent Pools 33 34. Best-in-Class organizations are44%more likely to have critical job roles (i.e. theroles that have the greatest impact on revenue / profit) identified Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 34 35. Impact of Identifying Critical Roles 60%Have Identified critical job roles51% Have not identified critical job rolespercentage of respondents, n=506 44%39%38% 40%33% 26% 20% 0% Organizational goals New hires meeting time New hires highlyachieved to performance goals engaged Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 35 36. Managing Candidate Relationshipsq 82%of organizations have a process tocommunicate with and nurture prospectiveemployeesbutq Only36% of the Best-in-Class (and 27% of allothers) indicate they have a formal candidaterelationship management process - one thatdefines who communicates what and when Source: Aberdeen Group, Talent Acquisition Strategies 2010, August 201136 37. Top Candidate Relationship ManagementActivitiesq Maintaining an engaging and informativecompany career portalq Recruiters and hiring managers activelycommunicate with candidates via phone calls orpersonal emailsq Utilizing software (such as candidate relationshipmanagement or an applicant tracking system) toregularly track all candidate communications Source: Aberdeen Group, Talent Acquisition Strategies 2010, August 201137 38. What About Social?41 +28 38 39. Social Talent Acquisition Strategies 80%80% percentage of respondents, n=506 All Respondents 67%61%60%40% 22%20% %Organization Recruiters trained Social networking Success metricsmaintains a on use of social is a critical part of defined for use ofcompany profile networking tools recruitment social networking on social strategy toolsnetworking sites Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 2011 39 40. Integrate Data to Fine Tune the Hiring Engine40 41. Most Valuable Measures of TalentAcquisition Success Most Important Metric Best-in-Class (Scale of 1 - 5: "1" is least valuable and "5" is most valuable) Rating Quality of hire 4.18 Customer satisfaction 4.07 Ongoing employee performance (i.e. long-term performance following the employees first review)4.07 Hiring manager satisfaction 4.06 Employee engagement 4.04 Achievement of organizational objectives (MBOs or KPIs) 4.03Source: Aberdeen Group, The Talent Acquisition Lifecycle, September 201141 42. POLLq Whatis the most significant barrier your organization faces in linking source of hire to Employee Performance? q Candidate data and post-hire data not linked q Performance measures are not aligned to hiring criteria q Candidate source data is not tracked q Employee performance measures are not clearly defined42 43. Barriers in Linking Source of Hire toEmployee Performance59% 60% Best-in-ClassAll Others 60%percentage of respondents, n=506 40%37%29%31%31%23%23% 20%%Candidate dataEmployee