Summit 2013 Keynote - Leading the Charge - Finnigan

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Leading the Charge, Driving the Change: Why Innovators Will Win the War for Talent Dan Finnigan CEO, Jobvite

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Make no mistake: The recruiting world is a volatile yet important place to be right now. While demand for talent surges, qualified candidates with critical skills are harder than ever to find. How will your company respond to this predicament? Jobvite CEO Dan Finnigan frankly discusses why now, more than ever, recruiters need the power of innovation to fuel their strategies—and why their futures might depend on it.

Transcript of Summit 2013 Keynote - Leading the Charge - Finnigan

  • 1.Leading the Charge, Driving the Change:Why Innovators Will Win the War for TalentDan FinniganCEO, Jobvite

2. 8 of the 11 Top Tech IPOs UseJobvite to Power Their HiringSource: Forbes#Jobvite13 3. 3 of the 5 Top Performing IPOsUse Jobvite to Power TheirHiringSource: Fortune#Jobvite13 4. 13 out of 17 expectedTech IPOs in 2013Source: VentureBeat#Jobvite13 5. Geography of JobsSource: http://tipstrategies.com/geography-of-jobs/#Jobvite13 6. Unemployment Getting Better But SlowingUnemployment rate,Seasonally adjustedNonfarm payroll employment change,Seasonally adjusted-800-600-400-2000200400600Jan-08Jun-08Nov-08Apr-09Sep-09Feb-10Jul-10Dec-10May-11Oct-11Mar-12Aug-12Jan-13Source: BLS.gov 7. Anyone Remember This? 8. Today Does Not Feel Much Better#Jobvite13 9. Tomorrow You Will Lead the Tribe!Only With Courage, A New Approach, Hard Work and the Right Weapons! 10. Growing Awareness: Talent Matters MostSource: Boston Consulting Group, Realizing the Value of People Management; From Capability to Profitability, August 2, 2012People Companies Outperform the Market Average#Jobvite13 11. Recruiting Delivers 40% More Profit GrowthThan Next Best HR FunctionSource: Boston Consulting Group, Realizing the Value of People Management; From Capability to Profitability, August 2, 2012#Jobvite13 12. Recruiting will be one of the hot careers inthe next decade 14% Y/Y increase Most commonly advertised job title: RecruitingSource: Wanted Technologies#Jobvite13 13. Why?1.Business Need Skilled Talent More Than Ever2.Talent Is Becoming Increasingly Scarce Worldwide3.Talent Is Choosy, Savvy Consumer of OpportunitiesThe recruiters who transform themselves intomarketers become as importantif not morethan any function.#Jobvite13 14. Jobs In Future Require EducationSource: Bureau of Labor Statistics20%22%17%18%18%12%14%Doctoral / professional degreeMaster degreeBachelor degreeAssociate degreeSome collegeHigh schoolLess than high school% Change Employment 2010- 2020Source: Bureau of Labor Statistics#Jobvite13 15. Most Advertised Openings in U.S. Today:All But Two Require College1. Computer Occupations2. Health Diagnosing and Treating Practitioners3. Other Management Occupations (inc. HR)4. Financial Specialists5. Business Operations Specialists6. Sales Representatives, Services7. Engineers8. Information and Record Clerks *9. Advertising, Marketing, Promotions, PR, and Sales Managers10. Supervisors of Sales Workers *#Jobvite13Source: Brookings Institution 16. U.S. App Economy Jobsbefore theiPhone0 current day477kSource: TechNet, The App EconomyMobile Applications EngineeriPhone Application DeveloperSocial Media ManagerUser Experience AnalystAndroid DeveloperVirtualization ArchitectMobile Marketing StrategistiPad Game DeveloperAPI Platform Manager 17. SHRM: Companies Anticipate Needing MoreCollege GraduatesHigh school dimploma or equivalent onlySpecific post-secondary certificate/credential(s)Associates degreeBachelors degreeAdvanced degree (e.g., masters, MBA, Ph.D, M.D.)9%63%27%28%61%11%18%69%13%56%42%2%56%1%44%IncreaseStay the sameDecreasePercentages may not total 100% due to rounding.SHRM/Achieve Survey: Changing Employee Skills and Education RequirementsChanges in the Workforce SHRM#Jobvite13 18. Working Age Population Shrinking WorldwideSource: Deloitte Research, UN Population Division (http://esa.un.org/unpp/)#Jobvite13 19. Creating A Serious ShortageSource: Bureau of Labor Statistics, Current Population Survery#Jobvite13 20. Battle of the Brains(US-based schools listed in blue)Source: PR Newswire#Jobvite13 21. Battle of the Brains(US-based schools listed in blue)Source: PR Newswire#Jobvite13 22. Severe Shortage Of STEM Graduates In US92Parks, recreationand fitness98-08%Source: SunSentinel, 2012STEM Jobs STEM Degrees50,000 Shortage inFlorida Alone64,00014,855#Jobvite13 23. engineering66%doctorates 50%plan tostaytech45%science+doctoral35%degreesSource: CNN MoneyImmigration Debate In DC 764,321 foreign students enrolled inU.S., up 5.7% in 2011 U.S. world share dropped 25% to 18% -now up to 21% H1B Visa capped at 85K (20K for thosewith Advanced Degrees) Proposed Bill: Increase to 115K 300K New Study: No shortage of STEM?!?#Jobvite13 24. Only 29% of Applies Come From CollegeGraduates; Only 13% STEM GraduatesBachelor of Arts10%Bachelor of Science10%MBA5%Master of Science3%Master of Arts1%No Degree71%#Jobvite13 25. More Engineers Reject, Than Accept, Offers0%5%10%15%20%25%30%35%40%45%Engineering Sales Marketing Biotechnology Administrative Accounting Advertising CustomerServiceHumanResourcesBusinessDevelopment#Jobvite13 26. 10X Programmer Talent AgencySource: HBO 27. Gen Y Dominates Workforce in 5 Years02550751001251501752002251990 1995 2000 2005 2010 2015 2020 2025 2030Pre-BoomersBaby BoomersGenerationGeneration Y and beyondSOURCE: U.S. Bureau of the Census, projections based on 2000 Censuspopulationage18-64(millions)2011: The Baby Boomersreached retirement age2030: Gen X reachesretirement age2018: Gen Y makesup half of the workingage populationDansTurn 28. Talent as a ConsumerOne Size Does Not Fit AllEach generation approaches work differently, shaped by theeconomic, social and political forces of their time.Source: Manpower#Jobvite13 29. Gen Y And Californians Changing Jobs Every3 Years: That is 15-20 Jobs A CareerSource: www.fastcompany.com/magazine/162/average-time-spent-at-job-4-yearsmedian tenure in current job:U.S.4.4yrsCalifornians...and Millennials3.0yrs 30. Recruiting IsMarketingThe aim of marketing is toknow and understand thecustomer so well that theproduct or service fits himand sells itself.Peter Drucker, managementconsultant, educator, and author#Jobvite13 31. Recruiting Is Marketing:The New Five Ps of MarketingProduct: Define Broadly Around Customer ExperiencePrice: Provide Competitive ValuePromotion: ROI-tracked Marketing Mix ofMedia, Content, Message & Growing BrandPlacement: Many, Convenient and Inspiring Ways to BuyProcess: All Efforts Working As One Optimizing Funnel#Jobvite13 32. Recruiting Is MarketingProductPricePromotionPlacementProcessOld SchoolFeature-Focused Definition(Conjoint Analysis)Suggested Price Lists Retail chains Sales channels Catalogs PartnersBrand, Advertising (Radio, TV,Print), Mail, CatalogsQuarterly reports, post-mortem, new version launchesToday: OptimizationCustomer-Experience FocusedDefinitionFreemium, performance-based, loyalty programsCustomer experience within: Retail store E-commerce Free-trials Customer serviceBrand, SEO, Search EngineMarketing, Content, Socialmedia, CRMReal-time, data-driven optimizationof product-to-sale funnelRecruitingEmployee-experienceFocused Definition of roleRequirements, perks, flexibility, benefits, compensationCandidate experience within: Job Boards Career Sites Apply Process Interview ProcessRecruitmentbrand, culture, on-linemarketing mix for jobs &careersite(s)Real-time, data-drivenoptimization of theopening-to-hire funnel 33. Marketing Starts by Understanding Your TargetLike A Marketer Would: 80 Million Gen YExercised vigorously in last 24 hours46%Saw email usage drop in 201127%Have a tattoo39%Started a business on the side35%Think helping the poor most important issue21%#Jobvite13 34. #1 and #2 Product & Pricing: Design Rolesfor Their Future, Not Just Yours1. Explain Company Vision2. Prioritize Community Service3. Develop In-Between Steps And Titles4. Give Encouragement & Regular Feedback5. Offer More Flexibility6. Provide Education and ProfessionalDevelopment7. Give Them Time for Personal Projects7 Ways Beyond Compensation ToImprove Job Attraction Gen Y are Job Shoppers; 88% arelooking to make a change Salaries guidepost for value andstaying on track, but NOTdifferentiation 51% of new employees hired in2012 have buyers remorseSource: HBR: Blog Network: What Job Candidates Really Want: Meaningful Work#Jobvite13 35. #3 Promotion: Big Brands, Especially StrongConsumer Brands, Have Big AdvantagesTop 5 of 50 Top Employers for College Grads#Jobvite13 36. #3 Promotion: Gen Y Wants AuthenticBrand Experiences Make Your Culture Your Brand Culture Is Emotional Marketing Learning That Decisions Made By Lymbic (Lizard)BrainFocus Messaging & Promotion On Emotional Connection Engagement Survey of Top Performers and Develop Value Statements Mold All Marketing Messaging Around EffortEmployee stories and testimonials Successful If Portrayed Culture So That Best Candidates Select Inand Mismatched Select OutSource: ERE Recruiting Conference 2013 by Randall Birkwood#Jobvite13 37. Have A Company Mission That MattersAnd, ItHelps To Authentically Provide Social Good#Jobvite13 38. HubSpot Mission 39. Brand: Join the Flock And Help Find Meaning#Jobvite13 40. Step Inside KixeyeIf You Have What It Takes! 41. Imagine Being In Jobvites Family! 42. #3 Promotion: Advertising & Distribution Track All Advertising & Distribution SEO: Jobs (and Content) Pages Careersite Distribution & Promotion Social and Employee Referral#Jobvite13 43. Applications by Source Type 2013Job Board42.4%Career Site38.2%Agency2.2%EmployeeReferral8.5%Notifications /Talent Pool1.2%Transfers1.2%Other6.2% Career Site up by 6% Emp Referral up by 1.3% Transfers are significant#Jobvite13 44. Hires by Source Type 2013Job Board17.1%Career Site21.0%Agency4.7%EmployeeReferral40.4%Notifications /Talent Pool0.4%Transfers7.1%Other9.3%#Jobvite13 45. Faster hiring through employee referral 2013Source: Jobvite294539Emp Referral CareerSite Job boardsEmployees hired through employee referral arehired 55% faster than those who came through career site.46% 45%47%33%35%39%22%20%14%Over 1 year Over 2 years Over 3 yearsHired Faster Better Quality#Jobvite13 46. Half of Career site Visitors Do Not ReturnOne Time Visitors49%Return Visitors51%#Jobvite13 47. Remarketing Is The Way Marketers HandleAbandonmentBrand SiteAd on another siteCustomer #Jobvite13 48. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engagingProspect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13 49. High Bandwidth Careersite Experience#Jobvite13 50. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engaging2. Apply Process: Simple, clear, anywhereProspect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13 51. Easy To Buy Easy To Apply 52. More On This Later Today#Jobvite13 53. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engaging2. Apply Process: Simple, clear, anywhere3. Interview Process: Collaborative (2-way)Prospect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13 54. #4 Product Placement: 2-Way Collaboration 55. #4 Product Placement:Many, Convenient, And Inspiring Ways toBuy1. Starts with Careersite: Easy to find, follow, and engaging2. Apply Process: Simple, clear, anywhere3. Interview Process: Collaborative (2-way)4. Feedback: No black holeProspect and Candidate Experience = Shopping Experience(think Nike and Apple!)#Jobvite13 56. Easy-to-See Application Status 57. 1.Funnel / Lead Generation / Marketing Automation#5 Process: All Efforts Work As OneOptimizing Funnel1. Multi-Channel Multi-Media Campaigns2. Provide Target Personalized DirectMail & Landing Pages3. Lead ScoreHot, Warm, Cold4. Marketing AutomationNext Automatic Event-Send personalized email-Send personalized product interest info-Send e-newsletter-Send personalized direct mailer-Send personalized press release-Send blog link5. Measure, Adjust, Redo 58. #5 Process: Track and Measure SourcingFunnelEmployee ReferralsCampaignsOverallTalent Pool 59. #5 Process: Cant Afford To Advertise Overand OverMust Build and Nurture ADatabase of Prospects#Jobvite13 60. Oakland As: Best Prospect Database andTalent Acquisition Funnel In Baseball#Jobvite13 61. Moneyball Year (2002): MLB Team Salaries 62. Wins Above Replacement (WAR)#Jobvite13 63. Beane Best GM:Wins Above Replacement (WAR average)#Jobvite13 64. Over a Decade of Best ROI Results#Jobvite13 65. The Marketing-Skilled Recruiters Who Target &Catch Their Game Will Become The NewLeaders of Future! 66. Thank [email protected]