What big and small companies can learn from each other | Talent Connect Anaheim
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Stacy Takeuchi, Solutions Consultant, LinkedIn Sam Wener, TS Solutions Consultant, LinkedIn Whether you work for a big company or a small company, chances are high that you have some challenges surrounding your talent brand strategy. Maybe you’re a large company with large amounts of red tape, or a small company with a small talent brand budget, either way you could probably stand to borrow some tricks from your counterparts. Come learn from two Talent Brand Consultants who have experience working with companies of every size about the top tips you can use from companies opposite you in size. Check out the best of Talent Connect: http://bit.ly/1MBqz6m
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What big and small companies can learn from each other | Talent Connect Anaheim
- 2. Does Size Matter….? Sam Wener Talent Brand Consultant LinkedIn Stacy Takeuchi Talent Brand Consultant LinkedIn
- 3. Your talent brand is the highly social, totally public version of your employer brand that incorporates what talent thinks, feels, and shares about your company as a place to work. What does Talent Brand mean?
- 4. believe talent brand strength makes a “significant impact” on ability to hire 77% Average reduction in cost per hire 50% Average reduction in turnover 28% talent professionals who say talent brand is a top priority in 2015 56% We know that Talent Brand is important Source: LinkedIn Global Recruiting Trends Report, Nov 2014
- 5. Candidates tell us it’s important Source: LinkedIn Talent Trends Report, March 2014 Reputation as a “great place to work” Reputation for “great people” Reputation for “being prestigious” Reputation as a “great place to work” Reputation for “great products / services” Reputation for “great people” Reputation for “being prestigious” 56%
- 6. % of professionals start considering switching jobs at least 5 months before leaving
- 7. Tips & Tricks • Transparency • Relevance • Just Do It • Activate • ROI Tangible takeaways you can implement TODAY!
- 8. Tips & Tricks • Transparency • Relevance • Just Do It • Activate • ROI Tangible takeaways you can implement TODAY!
- 9. “You have to embrace who you are, in all its hideousness or all its glory. Because that’s who you want to attract—talent with that shared passion and shared ideology.” Ed Nathanson – Found Red Pill Talent
- 10. Transparency
- 11. Transparency
- 13. Who Wins?
- 14. Who Wins?
- 15. Tips & Tricks • Transparency • Relevance • Just Do It • Activate • ROI Tangible takeaways you can implement TODAY!
- 16. JanRain , Customer Identity Software 74% of consumers get frustrated with content, offers, and ads irrelevant to them… it’s never been more critical to create targeted website experiences.
- 18. Relevance
- 19. Relevance
- 20. Relevance
- 21. Who Wins?
- 22. Who Wins?
- 23. Tips & Tricks • Transparency • Relevance • Just Do It • Activate • ROI Tangible takeaways you can implement TODAY!
- 24. You can’t boil the ocean when you are trying to get people to agree to something new. Start small. Do a “pilot”. Kara Yarnot – Founder Meritage Talent
- 25. No need to recreate the wheel
- 26. Corporate Branding Content PR Awards Corporate Blog Earnings Community Efforts Job Postings Powerful Talent Brand Content Thought Leadership Humor Video and Photos Employee Testimonials Department/ Individual Blogs Pop Culture The NormBest in Class
- 28. Who Wins?
- 29. Who Wins?
- 30. Tips & Tricks • Transparency • Relevance • Just Do It • Activate • ROI Tangible takeaways you can implement TODAY!
- 31. Trust in Employee Engagement who is the most trusted spokesperson to provide potential talent with credible and honest information about your company? http://www.edelman.com/insights/intellectual-property/2014-edelman-trust-barometer/trust-in-business/trust-employee-engagement/ 3xMore likely to trust information from employees versus from CEO A company’s employee programs, benefits, working conditions: 66% 22% 10% Company Employees Company CEO Media Spokesperson 2xMore likely to trust information from employees or CEO than media spokes-person 32% 31% 13% Company Employees Company CEO Media Spokesperson A company’s innovation efforts and new product development:
- 32. Highlight your culture through you employees
- 34. Who Wins?
- 36. Tips & Tricks • Transparency • Relevance • Just Do It • Activate • ROI Tangible takeaways you can implement TODAY!
- 37. The Quest to Quantify Measuring the impact of your Talent Brand
- 38. 1. Follower Quality 2. Talent Response Rate - engagement 3. Applicant Quality 4. Time To Hire 5. Opportunity Lost Cost 5 Simple Metrics to Quantify Talent Brand Success
- 39. Follower Quality Adapt your talent brand strategy for different audiences #
- 40. Engaged with your brand No engagement with your brand Talent Response Rate Engaged candidates more likely to respond to your recruiters #
- 41. 4 Subjective What does it mean to your company? • Good fit for the company • Good fit for the role • Length of tenure Who are the quality candidates for you? Quality of Hire Broadcasting an authentic talent brand increases retention #
- 42. Your talent branding activities should build a strong pipeline and start more conversations with qualified talent, thereby lowering your time to hire. Company with a strong talent brand on LinkedIn report a 20% Faster rate of hire Time to Hire Engagement is the foundation of your pipeline #
- 43. Enterprise Sales, High Tech Cost to Hire Too often, we forget the cost of opportunity lost # Total Annual Revenue: $1MM 250 working days $4,000 PER DAY
- 44. Follower Quality Talent Response Rate Applicant Quality Time To Hire Opportunity Lost Cost 5 Simple Metrics to Measure Talent Brand Success
- 45. Who Wins?
- 47. ©2015 LinkedIn Corporation. All Rights Reserved.
- 48. Transparency
- 49. Tips for visualizing your success Visualize success: track follower changes as a whole, or for specific business-critical roles
- 50. Tips for visualizing your success Visualize success: track response rate as a whole, or for specific business-critical roles
- 51. 85% 95% 96% 100% 301 200 79 41 0 50 100 150 200 250 300 350 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% Non-Impacted 1 Impact 2 Impact 3+ Impact NumberofImpactedHires RetentionRate(%) Visualize success: track retention rate by number of touch points engaged pre-hire Retention Rate by Number of Interactions Pre-Hire
- 52. Visualize success: track time to hire as a whole, or for specific business-critical roles
Notas do Editor
- Because we’re going to refer back to this a lot throughout the presentation, we wanted to take a step back and make sure everyone understands exactly what Talent Brand means. And guess what, it means that what you share from a company perspective needs to match what others are promoting. And guess what, no matter how hard you try to totally control what they’re promoting, you can’t. But what you can do is shape what they’re saying by providing direction and making sure you’re on the same page with your employees. How do you do that? By being authentic and providing a transparent view on what it’s really like to work at your company.
- The case for talent brand has continually grown stronger, particularly in the past few years. At this point, we know it’s important and we have data to back it up. Over ¾ of talent leaders believe that talent brand has a significant impact on ability to hire 50% average reduction in cost per hire 28% lower turnover 56% of talent professionals are actually making talent brand a top priority for their organization in 2015 I hope that you all agree that investing and prioritizing Talent Brand is no longer optional.
- And not only are industry sources, like LinkedIn, telling you that talent brand is important, but so are candidates. LinkedIn ran a survey last year with over 18k professionals in 26 countries around the world – and found that the most important factor in considering a new job is whether that prospective company is perceived as a great place to work. In other words, companies with a strong, influential, and authentic talent brand.
- With a quick Google search of “having fun at work” these were the top image results…. Look how much fun they’re having! Who here has a company office and culture like this? Has anyone had a chair race in their workplace? Threw a basketball across your desks with another “buddy”… or even hoola-hooped? Actually though, raise of hands if you have, cause I will would work at your company in a second! Lets all say it together….What people see is WHAT PEOPLE EXPECT. When developing or promoting your Talent Brand, just remember, Transparency is key. If your brand is promoting “hoola-hooping” in the office and I join your company, and I am NOT allowed to do it… guess what? I’m out.
- Add more small companies Xactly career page – show real employees Be Real: What you say about yourcompany must be true foryour employees. If not, they’llsee through you and so willthe marketplace. Divideyour desired messages intothree buckets: what you candefinitely back up, what’s truein some circumstances, andwhat you’d like to say butcan’t just yet. Be Personal: Go back to the individualstories gathered duringthe research phase. Storiesare more easily rememberedand are motivational foremployees. Those you featurewill be proud to participate. Be Brave: Admit some negatives –people will believe youmore. If you want to claima message that you just can’tsay yet, identify a related onethat’s still enticing but can bedelivered without eye-rolling.Brainstorm options with yourmarketing team. Be Consistent: Think about how to alignthis messaging with yourcompany’s overall brand.There should be strongconsistency between the two.
- The Xactly Careers Page is another example of transparency. By visiting the Careers Page you get an idea of the culture right away. I also wanted to call them out for putting badges on their banner highlighting making “great places to work” lists.
- Today there is so much noise out there, that, on average, you only 5-10 seconds to grab someone’s attentions and only milliseconds before someone forms an opinion about you. You have so little time, that you have to get it right the first time. And if you don’t, someone else probably well. So often you see generic content, but generic content often fails to attract. Who here knows the website/company Amazon? When you arrive at the homepage, you'll find not only special offers and featured products, but if you've been to Amazon.com before, you'll also find some recommendations just for you (Netflix also does this). Amazon knows you by name and tries to be your personal shopper. The embedded marketing techniques that Amazon employs to personalize your experience are probably the best example of the company's overall approach to relevancy: Know your customer very, very well. As a consumer, people have come to expect it. Google does this with their search engine. They’ll make recommendations on what you’re searching for, BEFORE you’ve even finished typing in the search. How annoying is it when they don’t recommend what you’re looking for. Like you have to take 2 extra seconds and FINISH TYPING IT OUT. This has come to be expected in the consumer world, so why shouldn’t we expect it in the Recruitment world?
- Every year we survey all different types of professionals to understand what motivates them to look or be interested in a new company or job. We call it “Employee Value Proposition” or EVP data. So when we talk about “relevancy” we actually have the data to prove it. As we say at LinkedIn, if you can’t measure it, it didn’t happen. At a high-level, here’s what motivates Women when considering a job vs. Men. At first glance, it looks like they have similar interests. But once we move past the first three attribute, we see HUGE shifts.
- Here’s an example from BP. They know they have seconds to grab your attention, so they’ve tailored content specifcilly to who they’re looking to attract. Who are they looking to attract?
- Not everyone needs to know who you are, just the people you care about IBM Talent owns the market – why should they choose you? Social Media isn’t free Just posting content and letting it sit is the jobs equivalent of posting and praying Personalization, targeted messaging is really important in consumer marketing. Pick your highest priority talent pools and build your storyline around those personas
- So who here knows what “OpenStack” is? Oh good – cause neither do we. But do you know who does? Engineers. And apparently they really care about it. So when Walmart developed their eCommerce team and needed to compete with the likes of Google, Facebook, LinkedIn, etc. for Engineers, they tailored and promoted their content to what drives and motivated Engineers - and apparently OpenStack is one of those things. And it worked. Now, obviously Walmart was able to leverage their consumer brand, but, they also respected that what drives and motivates an Engineer is different to what the rest of us. And so they spoke to that audience.
- So who wins this round? Big Companies. Why? Well we’re here to “beat a dead horse” so they say and we want to reiterate, that if you want to reach a specific audience, speak to them. We have the lowest unemployement rate in 8 years. It’s a job seekers market. The only way to get their attention and stand out amongst a sea of other companies, is to tailor your content. Every year we survey all different types of professionals to understand what motivates them to look or be interested in a new company or job. We call it “Employee Value Proposition” or EVP data. Feel free to reach out to your relationship manager and they can share with you about what resonates with your target audience.
- News/hot topics/company growth hiring info Ask for forgiveness – Kara Yarnot quote maybe Position as a pilot/trial Copy and paste blog posts Leverage what marketing is doing When in doubt, google your company Have a plan – goals, thoughtful but don’t be afraid Leverage people like us at LI EVP data Follow your competitors social channels and watch what they are doing Keep it simple stupid – image of lips
- How many of you work in organizations where the Comms team makes you feel like you work for the FBI? I find it interesting how many large companies still face this issue and how many small companies are even worse.
- We’re not asking you to recreate the wheel – you’d be surprised about how much content you already have to use that’s already online. Do you have a company blog? Are you sharing those posts with your followers? Follow your competitors social channels and watch what they are doing
- Animated version
- Do not overcomplicate this or you won’t get started
- According to the 2015 Edelman Trust Barometer, people are 3x more likely to trust information coming from employees on your culture. Use this to your advantage! Find those “talent magnets” within your company that love what they do and enjoy sharing that with others and feature them. You don’t even need a blog or video on your career site to do this – use the LinkedIn publishing platform
- amazon
- Having a talent brand hashtag is not only a great way to market your efforts, but it helps you create a social media stream reflecting your company culture from different points of view. For example, your own talent brand team can post photos and updates and use your company hashtag. But also your employees can use the same hashtag to share their work experiences, making your company more relevant and discoverable to potential candidates.
- Start with the end in mind. What are you trying to accomplish – that will tell you what to measure
- The quest to quantify is, and always will be part science and part art. The two are interconnected and both needed for an appropriate evaluation of any type of strategy. Talent leaders today are more empowered than ever to investigate, test, and quantify the connection between talent branding and talent acquisition success. If you want to continue gaining support (and let’s be honest, budget) for the art of talent branding, you need the science of ROI measurement to back you up. So this all sounds great, but how do specifically prove the value of YOUR talent brand? But how do you prove your talent brand initiatives are moving the needle? When we think about the quest to quantify our success, with so many moving parts that aren’t interconnected, the key challenges we face are below: Different systems (platforms, ATS, different campaigns with different levels of engagement) Marketing/TA success is different What does success look like, lack of benchmarks No established performance indicators What are the success metrics of those that are viewing/judging our performance. It’s going to differ from department to department
- In order to track trends, we have to have quantifier. Within your Talent Acquisition goals, we’ve found four simple metrics that we can focus on to tell your success story. So once you’ve set out to build and maintain your talent brand, you need a way to measure it. We’re going to look at four key metrics today (plus a bonus one!) and discuss how to specifically tie these metrics to your talent brand success. Engagement with key talent pools (social media follower quality) Talent response rate Time to hire
- Who are your Followers across all channels? Are they marketing/TA/mixed? Word cloud: Are they software engineers? Do they work in your industry? If you really look at who your followers are, you’ll get a better picture of what this base of people is facilitating within your business. Who are you communicating with in your channels? Are they separate? Odds are, your Follower base across social channels is going to be a mix of both talent brand and consumer brand interest. Not all followers are created equal, and you want to build a targeted following of people that fit the criteria you’re looking for – but with the merge between TB and CB, you have to also understand where their value sits. Instead of just knowing how many followers you have, what you really want to know is who exactly your followers are. On LinkedIn, you’re able to see your follower demographics by function, seniority, industry, and company size. You can also see how many of your followers are current employees. Once you know your follower audience breakdown, you can adjust your messaging for those varying audience segments. This begins the path to setting benchmarks for success.
- The next metric we’re going to look at is your talent response rate. If you’ve done a good job building awareness, you should expect a higher response rate. And think about starting your outreach with your followers. We’ve found that company page followers are 81% more likely to respond to an inMail!
- Speak to quality of hire, and cultural fit when engaged audiences start before the hiring process If you’re actively promoting the type of culture that your company is, people can start to self select, and it’s not really applicant quality to cultural fit. We @ LinkedIn we are big on hiring cultural fit, but if you’re not a cultural fit, then we overlook you because that is the #1 determining factor if you’re going to succeed here. Once you have people responding, you need to measure whether or not they are the quality people you are looking for. Quality is generally a subjective measure, but I’m going to show you how you can turn it into something that’s quantifiable. First though, you need to define what quality means for your company. What makes someone a good fit for your company and a good fit for a role? Once you’ve established these characteristics, you can begin to easily classify candidates as either quality or non-quality. There are number of ways you can start to track this. You might label them in your ATS, track them with tags in Recruiter, or some other method that works for you!
- The fourth metric we’ll look at today is time to hire. Time to hire isn’t specific to talent branding, it’s used across the board, but you can tie changes in it to talent brand. If you’re building a strong talent brand and filling your pipeline with qualified candidates, your time to hire should be faster. We actually found that companies with a strong talent brand on LinkedIn report a 20% faster rate of hire! Talk about: investing in your talent brand creates an engaged community ready to be reached out to: build your pipeline of high quality talent (ideally). The conversation begins way before the open position is approved. What elements of this conversation have you impacted? How much easier is your recruiters job when your total potential candidates already know about your values, your culture, and your team? There’s less conversations that are necesssary to describe what it’s like to work for you, and saving time is saving money. already started the conversation before the on rec opens up. The conversation has included: information ab
- This is a simplified approach. So when looking at this, we’d like to get you and your hiring managers thinking about this topic. Outside of Sales, what is the revenue associated with each role and team? If we can quantify that, we can frame the question in a different light. This creates urgency around your initiatives. Change the conversation with your hiring managers and create urgency around your initiatives. [NOTE: I would maybe recommend going through a live example of one of these on a whiteboard or just talking through it.] On a related note, before we dive into the metrics you can use to measure your Talent Brand success, it’s important to know what cost is to your business of having roles sit open. Knowing that cost can help strengthen your ROI story later on and show that the cost you invested in building your Talent Brand saved the company costs it would have incurred if roles had sat open for a longer period of time.
- Does anyone have any questions about these?
- So who wins this round? Big Companies. Why? Well we’re hear to “beat a dead horse” so they say and we want to reiterate, that if you want to reach a specific audience, speak to them. We have the lowest unemployement rate in 8 years. It’s a job seekers market. The only way to get their attention and stand out amongst a sea of other companies, is to tailor your content. Every year we survey all different types of professionals to understand what motivates them to look or be interested in a new company or job. We call it “Employee Value Proposition” or EVP data. Feel free to reach out to your relationship manager and they can share with you about what resonates with your target audience.
- Rome wasn’t built in a day, and neither is your talent brand. Company reputations are built slowly, over time, influenced by a variety of factors. When your boss demands data next week, gently mention that talent branding is about continually growing brand relevance and nurturing ongoing relationships with target talent pools over time.
- Here is an example of how to visualize your success. This graph shows both the growth of total followers and the growth of a specific segment of followers, in this case, tech followers. This allows you to track the growth rates of individual segments against the whole. If you’re focused on messaging to certain segments, you should see a faster growth rate for those segments vs. the overall growth. Change graph to show more drastic success among KEY TALENT TARGETS Software Engineers in the Bay Area
- Here is an example of how to visualize your success. This graph shows both the growth of total followers and the growth of a specific segment of followers, in this case, tech followers. This allows you to track the growth rates of individual segments against the whole. If you’re focused on messaging to certain segments, you should see a faster growth rate for those segments vs. the overall growth. Change graph to show more drastic success among KEY TALENT TARGETS Software Engineers in the Bay Area
- Here is an example of how to visualize your success. This graph shows both the growth of total followers and the growth of a specific segment of followers, in this case, tech followers. This allows you to track the growth rates of individual segments against the whole. If you’re focused on messaging to certain segments, you should see a faster growth rate for those segments vs. the overall growth. Change graph to show more drastic success among KEY TALENT TARGETS Software Engineers in the Bay Area