Tyco Healthcare Finding Talent: New Initiatives for Sourcing, Vetting and Hiring Employees Ari...

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Transcript of Tyco Healthcare Finding Talent: New Initiatives for Sourcing, Vetting and Hiring Employees Ari...

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  • Tyco Healthcare Finding Talent: New Initiatives for Sourcing, Vetting and Hiring Employees Ari Gordon Corporate Recruiter Tyco Healthcare
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  • Fast Facts about Tyco Healthcare Who we are A large global healthcare company committed to sustaining strong margins and cash flows while making investments for growth One of the largest medical device and disposables companies in the world at $9.1 billion with industry leading profitability margins 40,000 employees in nearly every country worldwide with an expanding presence in emerging markets around the world including India and China. R&D funding was increased by nearly 40% in 2004 and this investment should double over the next few years Over 80% of total sales derive from products in either in a # 1 or # 2 position in their respective categories.
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  • Tyco Healthcare What we make A vital provider of products including advanced surgical tools and supplies, sutures and wound care, needles and syringes, contrast media for diagnostic imaging vascular therapy, respiratory care and generic pharmaceuticals. Key Brands: Kendall, Auto Suture, Syneture, Valleylab, Radionics, Mallinckrodt, Nellcor, Puritan Bennett. Medical, surgical, electrosurgical, respiratory therapy and imaging products are supplied to some or all of the following: acute care facilities - nursing homes - rehab centers ambulatory surgery centers - physician offices Retail/Private label products featuring incontinence and feminine hygiene are sold to the largest retail chains and mass merchandisers operating in the U.S. High quality products with instant recognizable name that provide the basis for improved patient outcomes
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  • Tyco Healthcare What we excel at Market leadership in key product areas provides a platform for new technologies and products. State-of-the-art manufacturing capabilities and highly trained sales force delivering first class products worldwide. Six Sigma 110 active teams with over 2400 trained employees who delivered over $272 million in operating income benefit net of incremental investment. In working capital, this 8 day improvement had a $900 million impact and could exceed $3 billion by 2006 A recent integration process in every aspect of the business resulted in $151 million in operational excellence savings. It is more than just about cost cutting its about implementing high quality, thoughtful products that result in better healthcare products - and healthier lives.
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  • Tyco Healthcare The Benefits of Separation Greater Potential for Long-Term Value as Three Independent Companies Each entity will set their own strategy for: Acquisitions Alliances Resource allocation Research & development spending Strategic and day-to-day business decisions will be based on specific industry dynamics Electronics Healthcare TFS/TEPS
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  • Tyco Healthcare Great Long-Term Value Potential as an Independent Company One of the largest diversified healthcare companies Strong operations and cost management capabilities have produced industry leading margins As an independent company, better able to: Attract top healthcare talent Negotiate licensing deals Compete for strategic acquisitions
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  • Tyco Healthcare Sourcing Candidates Staffing Plan Newly Created Functions 200 300 new positions Understand what we have, what we need to have Recruitment Strategy Internal candidates; growth from within Normal postings via ATS College interns/Co-Ops
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  • Tyco Healthcare Sourcing Candidates Internet Resources currently used: Applicant Tracking Systems; main job boards Niche Web Sites, Associations Internet Resources being explored: Adwords via Google, search engines Web Logs
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  • Tyco Healthcare Sourcing Candidates Agencies: Contingency/Retained: Leverage company size One central database, able to better partner Centralized point of contact Job Bundling Executive search Research Firms: Name Generation Candidate pipeline Diversity Recruitment: National Society of Hispanic MBA Conference National Black MBA Conference BostonWorks Diversity Career Fair Women for Hire InRoads: Diversity Intern program
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  • Tyco Healthcare US Exempt & Salaried Non-Exempt Hires by Source for 2005
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  • Tyco Healthcare Three Year Comparison Hiring Percentages Mansfield Location 200420052006 Promotions/Transfer s 39%36%42% Employee Referrals 20% 16% Applicant Tracking Systems/Monster 18%23%25% Agency Usage 15%10%8% Contract Conversion 5%9%
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  • Tyco Healthcare Vetting Candidates Behavioral Interviewing Provide training for hiring managers and interview team Interview guide creation via usage of Lominger Competency Model Tool with hiring manager Results of Interviews intended to provide: Objective view of all involved on the interview team Justifiable reasoning of why the candidate was the best fit among all candidates Maximize each hire
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  • Tyco Healthcare Key Aspects Are we competitive in the market? Have we effectively portrayed the company culture? Have we communicated our values? Metrics Quality of the hire Turnover Rate Diversity Hiring Candidates
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  • Tyco Healthcare Hiring Candidates - Metrics 0.1%5.7%4.5% 1.4%32.9%5.1% 0.6%1.0%0.1% Behaviors Performance 908 out of 1,768 hires eligible for the review process. 2005 New Hire Performance Ratings Salaried Exempt & Non-Exempt
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  • Tyco Healthcare Questions?