Beyond Funnel Mentality

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Beyond the Funnel Mentality: How a Shift in
Thinking will Transform the Way Companies
Engage Quality Candidates

Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved.

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Agenda

Evolution and trends in recruiting
A new role for Talent Acquisition
The Science of Networking
Leveraging the tools

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Evolution and trends in Recruiting

Recruiting has evolved into a frantic attempt to create the
largest funnel possible to manage an enormous amount of
data
The role of the Recruiter is to filter and reduce this data to
actionable pieces
We are constantly in search of faster more productive
recruiters
More and more automation is being developed to help a
recruiter sift through the enormous amounts of data
Systems are evolving in an attempt to make things easy
while there are many features that are rarely used

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The Fish Net Method

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Whale Watching

More aggressive recruiting
tactics are being used in the
corporate environment
Sometimes referred to as
predatory recruiting
Poaching
There is no value exchange,
only taking
This is not a sustainable form
of networking

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Manager Involvement in the Process

Movement toward
manager self service
Goal is to establish
accountability for hiring
In what part of the hiring
process do we really
want the manager to be
engaged?

Once you finish entering those requisitions, HR
said we should have at least five top quality
candidates to talk to in just 4 weeks!

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The Quality Challenge

The tools and technologies all offer the promise of higher
quality candidates
By improving the filters and matching capabilities we will
get to the higher quality candidates faster
The speed of the competitive talent market is shortening
the time we have to get to know a candidate
Assessments help, but we still do not know the true
quality until after we see the person in action
Quality of hire measures can only take place post hire
– Engagement survey
– Manager survey, performance review
– Peer review
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Stepping up to the challenge

Rather than attempting to
improve the filtering
process to increase the
quality of the output
We should focus on
putting higher quality
candidates into the funnel
How?

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The origin of the recruiting function

When a business owner needs to increase the staff size,
the very first step is to hire people they already know
and/or have worked with in the past
When they run out of people they know, they turn to their
employees and ask “Who do you know?”
Employee Referrals is the original source of recruiting
A recruiting function is only needed when the scale of
growth becomes too large for this grass roots approach
It is widely accepted that Employee Referrals yield the
highest quality of candidate

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Employee Referrals

Lowers overall recruitment costs
Reduces time to fill
Increases quality of hire
Ready made mentors
Higher acceptance/retention rates
Increased morale and motivation
An Ohio State University study shows that employees
hired through referrals have a retention rate that's 25
percent higher than that of employees hired through other
methods

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Building a Manager’s Network

Manager’s should be
engaged in maintaining a
network of talent
True networking is not
aggressive
It is about establishing and
leveraging relationships
There is value exchange in
a relationship
A value based network
becomes a sustainable
source

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A shift in thinking
Rather than building the biggest possible funnel with the best filters
Establish a small network of talent to meet the hiring needs of a
single manager
Develop a Talent Inventory, identify internal and external candidates
as successors for existing positions or future vacancies
Create a network community by delivering value to the members
– Routine gatherings, online or in person
– Web portals for content and collaboration
– Turn acquaintances into relationships
– Engage in activities to get to know each other
Hiring people we know, increases quality because there is a shorter
time to employee engagement

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New Role for Talent Acquisition

Become a Talent Coach
Assist the Hiring Manager in developing and maintaining a
network of enough people to hire from (20 – 35).
– Identify prospects to be introduced to the Manager’s
network (avoid the old boy network)
– Provide the tools for managing the Network (e.g.
LinkedIn, Salesforce.com, etc.)
– Attend industry events with the Manager and organize
social events
– Assist the manager maintain periodic, systematic
communication with network members
Create a Talent minded culture
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Establishing New Role for Talent Acquisition
Step I
– Identify Managers who will be hiring critical talent
– Determine the number of networks to be established and relative size
requirements based on hiring goals, and demographics
– Establish criteria for inviting participants to the network
– Educate managers on networking basics and protocol
Step II
– Interview leaders who already operate as talent scouts
– Determine the tools to be used for managing the information
– Identify opportunities to provide relevant and meaningful content to participants
(news letters, press release, CE opportunities)
– Develop a calendar of events (trade shows, ball games, association meetings,
etc.)
Step III
– Establish goals for network production, number of hires and number of referrals
– Identify method for data to be captured –different than source of hire
– Monitor results and make adjustments

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Taking it to the next level

It is widely accepted that the stronger the network the
better results
How do we measure the strength of a person’s network
today?
– Number of entries in the rolodex
– Contacts in the outlook folder
– Number of connections on Linked-in
Anecdotal references
– She is really well connected
– He knows everyone and the 12 disciples
What if we apply the principles of Network Theory?
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Network Theory

Network theory concerns itself with the study of graphs as
a representation of either symmetric relations or, more
generally, of asymmetric relations between discrete
objects.
Typically, the graphs of concern in network theory are
complex networks, examples of which include the World
Wide Web, the Internet, gene regulatory networks,
metabolic networks, social networks, epistemological
networks, etc

Source: Wikipedia

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Determining Network Strength

The shape of a social network helps determine a network's
usefulness to its individuals
Tighter networks can be less useful to their members
More open networks are more likely to introduce new ideas and
opportunities to their members
A group of friends who only do things with each other already share
the same knowledge and opportunities - Cliques
It is better for individual success to have connections to a variety of
networks rather than many connections within a single network.
Individuals can exercise influence or act as brokers within their social
networks by bridging two networks that are not directly linked

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Network Analysis

Closed Network
Open Network

Group 4

Group 1
Group 3

Group 2

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Network Analysis Measures

Betweenness
– The extent to which a node is directly
connected only to those other nodes
that are not directly connected to
each other; an intermediary; liaisons;
bridges
Closeness
– The degree an individual is near all
other individuals in a network
(directly or indirectly). It reflects the
ability to access information through
the "grapevine" of network members.

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Network Analysis Measures

Eigenvector centrality
– a measure of the importance of a node in a network. It
assigns relative scores to all nodes in the network
based on the principle that connections to nodes
having a high score contribute more to the score of the
node in question.
Structural hole
– Static holes that can be strategically filled by
connecting one or more links to bring together other
points. Linked to ideas of social capital: if you link to
two people who are not linked you can control their
communication – create value.
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Filling structural holes

Group 4

Group 1
Group 3

Group 2

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Position in Network

The McKinsey Quarterly: Harnessing the .power of informal employee networks, 2007

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Social Capital

"refers to the collective value of all 'social networks' and
the inclinations that arise from these networks to do things
for each other“
social capital can be measured by the amount of trust and
"reciprocity" in a community or between individuals

Robert D. Putnam, Bowling Alone

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A Possibility

By applying the measures of network analysis to the
social networks of our recruiting staff and hiring
managers, we can:
– Identify gaps, structural holes
– Establish specific targets for hiring to fill structural
holes
– Identify internal resources in key positions in the
network to develop retention and succession strategies
– Assess the value of the overall network and create a
new metric for the dashboard – “Recruiting Capital”
– Assign goals and objectives to the team to increase
the Recruiting Capital of the network

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Software Enabled Analysis is Coming

www.touchgraph.com

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Visualizing the Network

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Some Tools to Consider

There is niche market evolving for functionality that sits on
top of, or outside of your traditional Career Site that can
provide more interactive functionality for your candidate
contacts.
Micro-sites; Talent Communities
Here are just a few examples:
– Jobs2Web
– Climber.com
– Ning

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Jobs2Web

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Climber

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Ning

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Custom Private Community Portal

CRM ATS

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Final comments

The tools are changing – we need to change the way we
use them
Establishing value based networks is a sustainable
source of quality candidates
Managers must participate in the networking to create the
quality
Different model for investment of recruiting budget; Be
selective in the application, where does it make the most
sense
Measure, measure, measure

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Thank you!

Ed Newman
ed.newman@futurestep.com

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Beyond Funnel Mentality

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