Advantage in a Competitive Talent Market
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Presented at the Argyle Talent Management Forum in NYC on 6/4/2014. Reflects what organizations can do to compete for talent in light of the realities of talent scarcity and the digital age.
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Advantage in a Competitive Talent Market
- 1. © 2014 CareerBuilder© 2014 CareerBuilder Presented by: Keith Hadley, Practice Leader, Employment Branding @keithhadley GET THE ADVANTAGE IN A COMPETITIVE TALENT MARKET
- 2. © 2014 CareerBuilder • Generating more and better candidates • Retaining who we have – stealing from competitors • Linking our brand with great workplace attributes • Telling a compelling and consistent story in every channel • Targeting unique talent pools • Creating a great mobile experience • Eliminating friction in process – for both candidate and recruiter • Using data to drive talent strategy and tactics COMMON CHALLENGES 1 |
- 3. © 2014 CareerBuilder THE IMPROVING ECONOMY 2009 2010 2011 2012 2013 Gradually declining unemployment means an improving economy Nationwide – 6.3% New York - 6.7% (36th) Chicago – 7.9% (49th)
- 4. © 2014 CareerBuilder GREATER NYC ECONOMY 3 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 5. © 2014 CareerBuilder GREATER NYC ECONOMY 4 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 6. © 2014 CareerBuilder GREATER NYC ECONOMY 5 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 7. © 2014 CareerBuilder TOP 10 MOST DIFFICULT JOBS TO FILL 6 | SOURCE: Manpower Global Hiring Survey 2013
- 8. © 2014 CareerBuilder COMPETITION FOR TALENT 7 | 40% of employers say they have difficulty retaining critical- skill employees 70% of Americans are not engaged at the workplace 59% of hiring managers are concerned about the growing skills gap. 5 in 10 H.R. managers say they have open positions for which they cannot find qualified candidates. Source: CareerBuilder 2014 Skills Gap Study - http://careerbuildercommunications.com/skillsgapstudy2014/
- 10. © 2014 CareerBuilder SUPPLY & DEMAND – GREATER NYC 9 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 11. © 2014 CareerBuilder SUPPLY & DEMAND – GREATER NYC 10 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 12. © 2014 CareerBuilder SUPPLY & DEMAND – GREATER NYC 11 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 13. © 2014 CareerBuilder SUPPLY & DEMAND – GREATER NYC 12 | Source: EMSI Talent Market Analysis & CareerBuilder’s Supply & Demand Portal – data pulled 6/3/2014
- 14. © 2014 CareerBuilder TALENT SCARCITY IN A DIGITAL AGE 13 | Significant Power Shift from Employer to Candidate Talent is Scarce Age of the Consumer Candidate
- 15. © 2014 CareerBuilder 14 THE GREAT POWER SHIFT COMPETING FOR TALENT
- 16. © 2014 CareerBuilder HUMAN RESOURCE INVESTMENTS 15 | Source: CareerBuilder U.S. Jobs Forecast 2014 22% Mobile readiness Where do companies plan to invest additional resources into their recruitment strategy for 2014? 22% Enhancements to company career site 16% Front office tools 29% Workforce analytics/ Access to data 11% Other
- 17. © 2014 CareerBuilder© 2014 CareerBuilder CHANGING WORKFORCE 16 |
- 18. © 2014 CareerBuilder WHAT IS A MILLENIAL? ► 17 ◄ “No precise dates when the generation starts and ends… birth years from early 1980s to early 2000s.”
- 19. © 2014 CareerBuilder EDUCATED AND OUT OF WORK 18 | of people under 25 are unemployed or underemployed 39% #skillsgap Source: CareerBuilder 2014 Skills Gap Study - http://careerbuildercommunications.com/skillsgapstudy2014/
- 20. © 2014 CareerBuilder DIFFERENT PRIORITIES? 19 | Source: CareerBuilder 2014 Skills Gap Study - http://careerbuildercommunications.com/skillsgapstudy2014/
- 21. © 2014 CareerBuilder WHAT’S REQUIRED FOR THE FUTURE? 20 | Most of the fastest growing jobs over next decade will require a college education and proficiency in a technical skill or niche area. Workers who possess business savvy interpersonal skills in jobs that require complex or dynamic interactions will be the most relevant for businesses in the United States. Source: Talent Equation
- 22. © 2014 CareerBuilder Using technologies that haven’t been invented… JOBS OF THE FUTURE These jobs didn’t exist 10 years ago: To solve problems we don’t even know are problems yet. Preparing students for jobs that don’t yet exist.. Social Media Managers Chief Listening Officers Cloud Computing Services Elder Care App Developers Sustainability Experts User Experience Design Millennial Generational Experts Market Research Data Miners Admissions Consultants Source: Forbes, 2012 21 |
- 23. © 2014 CareerBuilder© 2014 CareerBuilder DIGITAL DIVIDE
- 24. © 2014 CareerBuilder ► 23 ◄ Source: NBC News A Whole New Way to Communicate
- 25. © 2014 CareerBuilder© 2014 CareerBuilder HOW ARE YOU ENJOYING THE 3-DAY WORKWEEK?
- 26. © 2014 CareerBuilder© 2014 CareerBuilder25 |
- 27. © 2014 CareerBuilder THE CONSUMER CANDIDATE search for jobs while at work different resources are used on average before applying to a job Of full-time employed workers are actively looking or open to new job opportunities Source: CareerBuilder and Inavero Candidate Behavior Study 2013 26 |
- 28. © 2014 CareerBuilder CONSUMER EXPECTATION 27 |
- 29. © 2014 CareerBuilder HOW MARKETERS APPROACH THIS
- 30. © 2014 CareerBuilder MODERN CAREER SITE Story Search Join Effortless Experience
- 31. © 2014 CareerBuilder IMPORTANCE OF COMPELLING CONTENT
- 32. © 2014 CareerBuilder THE OVERALL EXPERIENCE
- 33. © 2014 CareerBuilder THE OVERALL EXPERIENCE
- 34. © 2014 CareerBuilder BE WHERE THE CANDIDATES ARE
- 35. © 2014 CareerBuilder PERCEPTION VS. REALITY – SOCIAL MEDIA ► 34 ◄ RECRUITER PERCEPTION RECRUITER PERCEPTION CANDIDATE REALITY CANDIDATE REALITY RECRUITER PERCEPTION Used other social media to contact people about job opportunities at least once. RECRUITER PERCEPTION Used LinkedIn to contact people about job opportunities at least once. CANDIDATE REALITY Used LinkedIn to contact people about job opportunities at least once. CANDIDATE REALITY Used other social media to contact people about a job opportunity at least once. Candidates use LinkedIn to search for a job at least once. Candidates have ever used LinkedIn to search for a job. Candidates have ever used other social media to search for a job. Candidates use other social media sites to search for a job at least once. 94% 34% 89% 18% 93% 90% 31% 17% RECRUITER PERCEPTION CANDIDATE REALITY Source: 2014 Candidate Behavior Study – CareerBuilder/Inavero
- 36. © 2014 CareerBuilder BE MOBILE vs. 35 |
- 37. © 2014 CareerBuilder NO MOBILE? YOU’RE GETTING LAPPED 36 |
- 38. © 2014 CareerBuilder CANDIDATE EXPECATIONS TODAY ► 37 ◄
- 39. © 2014 CareerBuilder EASY ► 38 ◄
- 40. © 2014 CareerBuilder CAPITALIZE ON INTEREST ATS (application system) application process Register Fill out personal info Upload resume Email verify Search openings 66-85% of candidates who enter an ATS (application system) do not finish the application process 39 |
- 41. © 2014 CareerBuilder ► 40 ◄ TALENT NETWORKS 40 |
- 42. © 2014 CareerBuilder SIMPLIFY THE PROCESS 41 | What is continuous recruitment? The process of sourcing and connecting with candidates even if there are no current open positions that suit their interests or abilities. 72% of employers said the strategy reduces time to hire 41% say it reduces cost per hire. Source: Talent Equation
- 43. © 2014 CareerBuilder KEY TAKEAWAYS 42 | Understand your talent market today and what will be required of your talent in the future Determine how changes in the way candidates search online and the increased use of mobile will shift your recruitment strategy Use technology to your advantage to manage candidate experience effectively, capitalizing on interest and simplifying your process.
- 44. © 2014 CareerBuilder • Live-cam your office • The effortless experience • Progressive application • Req-less recruiting • 90/10 image-word ratio • Recruitment as workforce planning • Complete ROI transparency • Marketing comes to you for advice… MOONSHOTS FOR HR 43 |
- 45. © 2014 CareerBuilder© 2014 CareerBuilder @keithhadley www.thehiringsite.com THANK YOU 44 |
Notas do Editor
- Honored to be here and excited to talk about a topic I am personally passionate about and one that we at CB take very seriously. SO much so we made it our mission and wrote a book about it. So Big Data is a big Data is a big buzz word right now. There was just an entire section of the WSJ dedicated to Big Data this week. In fact if you google Big Data, how many results do you think you get? 2,040,000,000 results. There is literally big data about big data. One of the main reasons this has become such a trend is there has been a huge influx of data over the last 20 years. Eric Schmidt, founder of Google, uncovered that we are producing 5 exabytes of information every two days. Put that in to context, 1 exabyte = 1 million gigabytes. Even more baffling, we produced that same amount of information (5 exabytes) from the beginning of time until 2003. Now we are doing that every two days! Rick Sloman wrote the Human Face of Big Data and says its like watching the planet devleop a nervous system. We have the ability to collect analyze, triangulate, and visualize data in real time for the first time in human history. Experts in the field are calling this the 2nd Age of Enlightenment. 1st age – socrates, newton, voltaire – deductive reasoning to make decisions instead of faith, religion. We are moving from gut instinct to data based decision making. Consumer marketing companies have probably taken the most advantage of the opportunity. So I’d like to begin telling a story there.
- Goal of the Slide: Confirm/Identify specific key challenges for the client Knowing that you are focused on [insert client goal here]. Obviously your [insert talent segment, i.e. engineering] talent is critical to achieving that goal. In order to secure these people we typically see organizations facing one or more of these challenges. Which ones do you feel are impacting your organization the most? Possible follow up questions for the client: Why? What have you seen as the impact of this specific challenge? How do you work with hiring managers in communicating these challenges? How has your strategy changed based on these challenges? (i.e. what have you tried?)
- KEITH – ROB COMMENT (?) Competition for talent today, unemployment rates gradually decrease, but still high numbers of people are unemployed or underemployed – especially new college grads where as many as 39 percent of people under 25 are unemployed or underemployed. Holding jobs that don’t require a college degree. Number increasing steadily since the recession.
- Reference to a 1995 study that showed that due to technology, in 20 years, we’d be working 3-day weeks because of all the efficiencies in technologies! http://thehiringsite.careerbuilder.com/2014/04/10/ooh-la-la-france-bans-work-emails-6-work-life-balance-win/ Ha… Study by Gyro – published in Forbes Insight – technology has enabled work to spill over into every aspect of life. http://www.gyro.com/igniting-now/at-work-state-of-mind/ Parallel to job search.
- In our third annual study on Candidate Behavior in partnership with Inavero, we found that 77% of full-time employed workers are either actively looking or open to new job opportunities – this number is an increase for 74% just a year ago. To further this “always on” mentality, we found that 4 in 10 workers actually search for jobs while they are at work. There is now no delineation between work and personal time when it comes to a job search. On average, candidates are consulting up to 16 different resources before applying to a job – that number was 14.5 last year. These increases show that candidates are continuing to conduct deep dive investigations on employers far before they ever apply.
- Amazon and Apple have built their business on being easy. Amazon has one-click purchases and Apple products are meant to be used right out of the package in very intuitive ways. Looking at Amazon’s application process for a candidate though…that’s a different story. Can you imagine as an avid consumer on amazon used to buying things quickly, easily, in a consistent way to then apply for a job with them and go through 15+ pages of an application? The candidate can’t help but wonder – why the disconnect?
- Marketers have done a great job of integrating these disciplines/steps to acquire customers – to experience your product and services. The ground has been paved. The opportunity lies now, especially in scarce talent populations, to apply these disciplines to acquiring talent… the folks that create and deliver your products and services every day.
- Before – Picture of Ariens Career Site
- Box Stats from the left. Top 94% Bottom 34% Top 89% Bottom 18% Top 93% Bottom 31% Top 90% Bottom 17% Recruiters THINK and behave as though job seekers are engaged in a lot of activities using social media and tools like LinkedIn in their job search that in fact are not true nearly to the degree we believe. For example, we believe that 94% of candidates have used LinkedIn to search for a job at least once, but candidates report that only 34% have EVER done that. 89% of us believe that candidates are using other social media platforms to search for jobs, but candidates say that only 18% have ever done so. 93% of us believe that job seekers are at least using LinkedIn to contact people about job opportunities, but it’s really only 31% and 90% of us think that they are using other social media for this purpose, but the truth is it’s about 17%. These gaps in recruiter perception and candidate behavior are staggering. This has a tremendous impact on how we budget our money and time. And there’s more…
- On Mobile… Mobile Optimized vs. Mobile Friendly – what’s the difference? Mobile Friendly: this just means that the site displays accurately between your desktop/laptop computer and a mobile device such as a phone. Mobile Optimized: more sophisticated. This is where the site will actually reformat itself for a list of handheld devices/tablets. Larger navigation, reformatted content and different images.
- More than likely – you’re getting lapped. comScore data: 6 million people searched for jobs via mobile in January 2013 (that’s up from 2.3 million in March 2012) Google: 31% of searches for “jobs” comes from mobile devices in November 2012, up from 17% in November 2011 and 8% in 2010. 1/3 of all of CB’s traffic each month comes from mobile devices – even worse, when they encounter a non-mobile friendly apply process, 40% will drop off.
- You want to create an environment where you can build those relationships, be visible where and how they are looking and make it easy to capture their info. Right now 80% of candidates who enter an ATS system drop off. How can you keep those potential candidates from losing interest in your company? That 80% number is an average. Jen Seith mentioned that we should add the caveat that ATS drop off varies by ATS System and there is no “true” number, but that on average it’s between 66-85% depending on the ATS used.
- What is continuous recruitment? The process of sourcing and connecting with candidates even if there are no current open positions that suit their interests or abilities. 72% of employers said the strategy reduces time to hire; 41% say it reduces cost per hire. Two popular forms of continuous recruitment: Posting job listings that aren’t actually for open positions, despite candidates’ eagerness to apply; however, this tactic can breach job seeker trust and damage your employer brand. Inviting candidates to join talent networks that allow them to be notified when positions open and engage with employer in the interim. This option ensures the company is interacting with potential recruits who have expressed interest in their brand. Two popular forms of continuous recruitment: Posting job listings that aren’t actually for open positions, despite candidates’ eagerness to apply; however, this tactic can breach job seeker trust and damage your employer brand. Inviting candidates to join talent networks that allow them to be notified when positions open and engage with employer in the interim. This option ensures the company is interacting with potential recruits who have expressed interest in their brand.
- To attract the best talent pool, employers must measure the behaviors and preferences of candidates job search and understand their attitude and perception toward their employee brand Recruit tough to fill vacancies with the right data so you can determine the causes and solutiosn of the shortages. Could be a geographical problem so tools can help HR identify easier places to recruit Use data to build a robust workforce planning strategy to attract, retain and develop your human capital. Project skills needed in the future and compare what you have today. Establish a talent pipeline. Look at education levels of your staff especially in sales, customer care and management.