This presentation deals with the importance of recruiting top talent, and retaining them through various reward methods. Learn why it's important to win the talent war!
3. 3
• Social networking
– LinkedIn, Twitter, Facebook
– Aggregators / consolidators
Recruiting in a modern world
4. 4
• Nonline networking
– Build and maintain talent pipeline
– Recruit top performers from competitors
– Monitor employment brand and reputation
– Utilize partners, board and staff referrals
Recruiting in a modern world
6. 6
• Search-firm dynamics
– Transparency (sharing of databases)
– Milestones
– Good candidates, fast
– Recruitment process outsourcing (RPO)
– Candidate-identification firms / name-generation firms
– Offshoring
Recruiting in a modern world
8. 8
• Common perception, supported by monthly reports from
the U.S. Bureau of Labor Statistics
Unemployment in an improving economy
5.7%
January 2015 U.S. Department of Labor
9. 9
• In reality, an interesting correlation exists between
unemployment percentage and education
Unemployment in an improving economy
October 2014 U.S. Department of Labor
Bachelor’s degree or above 3.1%
Some college or an associate’s degree 4.8%
High school graduate 5.7%
Less than high school diploma 7.9%
10. 10
• More than half of employees intend to leave their current
jobs as the economy improves:
Projected turnover as the economy improves
2014 2009
Yes, I intend to leave 86% 60%
Maybe, so I’m networking 8% 21%
Not likely, but I’ve updated my resume 1% 6%
No, I intend to stay in my current position 5% 13%
Right Management Group:
http://www.right.com/news-and-events/press-releases/2014-press-releases/item26654.aspx
11. 11
• A majority of employers are convinced that other
organizations are actively seeking their top performers
(senior leaders and high potentials)
– Agree: 43%
– Strongly agree: 13%
– Disagree: 11%
– Strongly disagree: 4%
– No opinion: 29%
• How will you combat this?
Projected turnover as the economy improves
World At Work: www.worldatwork.org/waw/adimComment?id=35633
12. 12
• Rule of Thumb: 33% to 150% percent of the annual
salary
– Salary costs
– Recruiting expenses
– Downtime and training time
• If true:
– Cost to replace $100K position ranges from $33K to $150K
Hidden costs of losing tenured employees
14. 14
“A heightened emotional or intellectual connection that
an employee has for his/her job, organization, manager,
or coworkers that, in turn, influences him/her to apply
additional discretionary effort to his/her work.”
- The Conference Board
Employee engagement
Engaged employees
= 70% less turnover
15. 15
• Highly engaged
workplaces score
high on all six.
• Highly engaged
workplaces have
“signature” drivers.
Employee engagement
16. 16
Employee-engagement tactics
• Base Pay
• Bonus
• Health Benefits
Tangibles
Intangibles
Short term Long term
• Retirement
• Deferred Comp
• Job Security
• Work/Life Benefits
• Hiring Practices
• New-Hire Coaching
• Work Climate/Vision
• Supervisor Behavior
• Trust in Leaders
17. 17
• Hot topics
– Title enhancement
– Flexible scheduling
– Telecommuting
Employee-engagement tactics
19. 19
• Average salary increases
– 3.0% in 2013
– 3.0% in 2014
– 3.1% in 2015 (projected)
• Incentive payout trends
– Nonexempt: 5%
– Exempt: 10-12%
– Executive: 35-40%
• Top performers vs. average workers
– 144% more in 2012
– 152% more in 2013
Compensation trends
World At Work: http://www.worldatwork.org/waw/adimLink?id=75547
20. 20
• Money talks
– Communicate total benefits effectively
– Pay winners like winners
Rewards help retention (and recruiting)
21. 21
Compensation strategies
Best Practice
Matrix
Performance 1 2 3 4
Exceptional 6.5% 5.5% 5.0% 4.0%
Exceeds Expectation 6.0% 5.0% 4.0% 3.0%
Effective 5.0% 4.0% 3.0% 2.0%
Development Needed 2.0% 1.0% 0.0% 0.0%
Critical Need for Improvement 0.0% 0.0% 0.0% 0.0%
Quartile in Range
Typical
Matrix
Performance 1 2 3 4
Exceptional 3.5% 3.5% 3.0% 3.0%
Exceeds Expectation 3.0% 3.0% 3.0% 3.0%
Effective 2.5% 2.5% 2.5% 2.0%
Development Needed 2.5% 2.5% 2.0% 2.0%
Critical Need for Improvement 2.5% 2.0% 2.0% 2.0%
Quartile in Range
CBIZ Compensation Consulting
22. 22
• Recruiting
– Attract individuals who will help move your organization forward
• Angie Salmon, CBIZ & EFL Associates
• Retention
– Create an environment of employee engagement
• CBIZ Employee Benefits
• Rewards
– Pay your winners like winners
• CBIZ Compensation Consulting
Win the talent war with CBIZ
24. 24
• EFL Associates / CBIZ Human Capital Services
– Top 2% retainer-based search firm
– Searches conducted in 48 states and six foreign countries
– Search practice complemented by compensation consulting
services
• Angie Salmon
– Senior Vice President, EFL Associates
– Leads Nonprofit Practice
– Co-leads Board of Directors Practice
– Completed over 130 search engagements
Win the talent war with CBIZ
asalmon@eflassociates.com
913.234.1576
@SalmonSearch