TARGETjobs Breakfast News – November 2011
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Transcript of TARGETjobs Breakfast News – November 2011
Agenda for today
Welcome & intro – Simon Rogers
The Economic Forecast – Bryan Finn, Business Economics Ltd.A comprehensive analysis of the macro economic factors currently affecting graduate recruitment.
A snapshot survey of AGR Members – Claire Adams, Business Ops Manager, AGRClaire will present findings of a snapshot poll of graduate recruiters looking at the
ways they expect their relationships with students to change in the future.
What happens next? – Tom Chesterton, Client Lead, Work GroupExploring the themes that we've developed during the course of 2011, Tom will look at the trends
that look likely to be the most important as we go into 2012. How will graduates want to engage with you? How can you best build competitive advantage in a fluctuating market?
Future Vision – How are employers going to find, engage and recruit the best undergraduates?Roger Jones, Honorary Research Fellow, University of Roehampton
Roger is leading the design, development and deployment of the University of Roehampton digital community. During this process he has completed in-depth research and has a unique insight into
how students, universities and employers should be engaging.
The panel session – Q&A
Breakfast News: The economic briefing
2008 2009 2010 2011
Biggest fall in global stock markets since 9/11
Northern Rock nationalised
Bear Stearns collapses
First annual fall in UK house prices for 12 years
Bank of America rescued
Lehman Brothers goes bankrupt
US recession officially confirmed
UK suffers worse fall in output for 17 years
RBS announces biggest loss in UK corporate history
Microsoft, Samsung and Philips all announce substantial job losses
Bank of England cuts base rate to 0.5%
Greek debt downgraded to BBB+
Greece unveils austerity package
Greece bailout by IMF and EU
Dubai sovereign debt crisis
Ireland bailout by IMF and EU
Portugal bailout by IMF and EU
Italy engulfed by the Euro crisis
UK Economy
Annual % change
-6%
-4%
-2%
0%
2%
4%
6%
-60%
-50%
-40%
-30%
-20%
-10%
0%
10%
20%
-6%
-4%
-2%
0%
2%
4%
6% GDP
Recruit
UK Economy: Job vacancies & the economy
Annual % change
$ per barrel
World Economy: Oil prices
0
10
20
30
40
50
60
70
80
90
100
110
120
130
Index
World Economy: Food prices
70
80
90
100
110
120
130
140
150
160
170
180
190
200
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
Annual % change
Target
Upper Limit
Lower Limit
UK Economy: Inflation
UK Economy: Squeeze on Incomes
3,500
4,000
4,500
5,000
5,500
6,000
6,500
7,000
FTSE 100
UK Economy: Share prices
-6%
-4%
-2%
0%
2%
4%
6%
8%
10%
UK Economy: Retail salesAnnual % change
Annual % change
UK Economy: House Prices
-40
-35
-30
-25
-20
-15
-10
-5
0
5
10
UK Economy: Consumer Confidence
Balance
4.0
4.5
5.0
5.5
6.0
6.5
7.0
7.5
8.0
8.5
9.0
UK Economy: Unemployment
% of workforce
0
5
10
15
20
25
30
World Economy: Unemployment
% of workforce
UK Economy: Graduate Unemployment
400
450
500
550
600
650
700
750
000s
UK Economy: Job Vacancies
UK Economy: Job vacancies by sectorQ3 2011
World Economy: Debt as a % of GDP
Yield on 10 year bonds
Yield on 10 year bonds
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
2011 2012
Future Prospects: GDP ForecastsAnnual % change
Graduate Recruiters’ Relationships with Students
Have you achieved your goals for the 2011/12 graduate recruitment season?
How would you assess your experience on campus this autumn in comparison to last year?
At what stage do you begin to engage with students in order to attract them to your organisation?
In your opinion do graduates receive the information that they need to make informed career decisions from employers?
Do you anticipate your recruitment strategy changing in 2012 as a result of the campus conditions you've
experienced this year?
A range of ideas are being considered, including:•Introducing internships•Greater partnering with universities•Earlier targeting and relationship building•First year engagement•Introducing deadlines for applications•More on-campus presence•More targeted approach•Using Facebook and Twitter
Lots of references to reviewing strategy
What has been the most effective approach you've used to attract applicants to your organisation?
Most frequent reference to:• On-campus activities
• Fairs• Skills sessions• Lectures• Campus brand managers
• Face to face contacts• More targeted approaches• Social networking and online
advertising• Internships
How have the attitudes of students/graduates to the employment market changed since last year?
• More aware of the tough and competitive market• Better informed, focussed and engaged• More interest in placements• Worries about job security and unemployment• More enquiries from first and second years• Some cynicism and negativity (but also optimism)• More realism• More flexibility regarding roles
Themes for this year
Generation Z and the rise of the career strategist
Corporate Social Responsibility
The changed graduate market
Why treating your candidates like customers works
Graduate recruitment has changed rapidly and will continue to evolve
These changes work to the advantage of graduate employers – if they are pro-active
Student behaviour and preference
Market structure
Marketing
Student behaviour and preference
The rise of the career strategist
Changing prioritiesParticipation rates
Market structure
Global forces
Demand and supply of decent jobs
The role of recruiters
Talent shortfall in key areas
Clustering of candidates means that the war for the best talent continuesYour brand is no longer in your control
Renaissance Hotels
3,332 FB Fans
1,192 LinkedIn
154,000 Twitter
2,817,335 YouTube views
Who are your advocates?
Current
employees
Potential
employees
Former
employees
Marketing has changed too
Targeting of message is more concentrated
The ‘milkround’ is less important
Who are the students I really need? And, where are they now?
How can I build lasting relationships?
But, this is about what happens next isn’t it?
The end of recruitment 3.0
1.0 Word of mouth
2.0 Advertising and other push marketing
3.0 Building talent communities
Whilst the technology exists to build communities of candidates the approach that has been taken so far has mainly been based on company information, corporate need and immediate recruitment requirement with little regard to the candidates (people) in it. More 2.0…
“I expect that history will show ‘normal’ mainstream twentieth century media to be the aberration in all this.”
‘Please, miss, you mean they could only just sit there and watch? They couldn’t do anything? Didn’t everybody feel terribly isolated or alienated or ignored?’
‘Yes, child, that’s why they all went mad. Before the Restoration.’
‘What was the Restoration again, please, miss?’
‘The end of the twentieth century, child. When we started to get interactivity back.’
Douglas Adams, “How to Stop Worrying and Learn to Love the Internet”, 1999
Recruitment 4.0…
I’ve built a community: So, what?
Recruitment 4.0 is all about extracting value from those communities
- Crowd Sourcing & Coca-Cola
- Mass individualisation & Pepsi
- Gamification & Deloitte
What exactly is good value?
Predisposition and strategists
I’ll shop around and choose the one which appears to provide the best fit for my criteria
I have some ideas about which products and brands I like, and have read some reviews
I know exactly which one I want to get, and I made that decision a long time ago
e.g. lunch e.g. a phone e.g. a car
Predisposition and career strategists
I’ll search for a job and see what’s available now
I have some idea about the industry that I want to work in and about some companies that interest me
I know where I want to work, and for how long
Faster to recruit
Cheaper to recruit
More likely to stay
More likely to thrive
PwC: Workforce 2020 talks about an underlying move to skills or professional networks in the future.
Predisposition and career strategists
I’ll search for a job and see what’s available now
I have some idea about the industry that I want to work in and about some companies that interest me
I know where I want to work, and for how long
Faster to recruit
Cheaper to recruit
More likely to stay
More likely to thrive
Recruitment 1.0 is back
Tweets Following Followers
5,259 122 1,105
10,426 618 3,018
8,429 2,288 13,203
12,483 468 13,909
Extracting value #1
Understand your audienceWhat are the values, behaviours, competencies, motivations and preferences that
will allow the right people to thrive in your organisation?
Extracting value #2
Identify your EVPWhat it is that makes you special as an employer?
Be honest and consistent whenever you have the opportunity to talk.
Extracting value #3
Review your ‘customer’ experience And not just how you sell the job:
• How customer friendly is your application process?
• What is the actual working experience like?
• What happens when somebody chooses to leave?
Extracting value #4
Gain supportEngage with line managers and enthuse them about recruitment. Remember that
every external interaction is a recruitment opportunity.
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