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The Science of Talent Attraction: Understanding What Makes People Click

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The Science of Talent Attraction: Understanding What Makes People Click

Get a fresh perspective based on the realities of what it takes to attract talent today. Learn from Indeed SVP Paul D’Arcy why the old myths about recruiting no longer apply and how to put the new science of talent attraction to work for your business. A graduate of Harvard Business School, Paul is an experienced technology industry leader and expert in workforce trends.

More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world and allows job seekers to search millions of jobs on the web or mobile in over 50 countries and 28 languages. 180 million people each month search for jobs, post resumes and research companies on Indeed, and Indeed is the #1 source of external hires for thousands of companies. (sources: SilkRoad & iCIMS).

For more information about how Indeed can help you hire, visit indeed.com/hire.

Get a fresh perspective based on the realities of what it takes to attract talent today. Learn from Indeed SVP Paul D’Arcy why the old myths about recruiting no longer apply and how to put the new science of talent attraction to work for your business. A graduate of Harvard Business School, Paul is an experienced technology industry leader and expert in workforce trends.

More people find jobs on Indeed than anywhere else. Indeed is the #1 job site in the world and allows job seekers to search millions of jobs on the web or mobile in over 50 countries and 28 languages. 180 million people each month search for jobs, post resumes and research companies on Indeed, and Indeed is the #1 source of external hires for thousands of companies. (sources: SilkRoad & iCIMS).

For more information about how Indeed can help you hire, visit indeed.com/hire.

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The Science of Talent Attraction: Understanding What Makes People Click

  1. 1. The Science of Talent Attraction: Understanding What Makes People Click Paul D’Arcy SVP, Marketing #indeedinsights
  2. 2. Why we recruit #indeedinsights
  3. 3. Recruiting changes people’s lives Recruiting is the #1 source of business impact #indeedinsights
  4. 4. "The secret of my success is that we have gone to exceptional lengths to hire the best people in the world." Steve Jobs, Apple #indeedinsights
  5. 5. "Our people are our greatest asset. And we are constantly trying to attract and retain high-quality talent." Cathy Engelbert, Deloitte #indeedinsights
  6. 6. "The biggest category of mistakes we've made is in hiring. Over the past 11 years, bad hires cost the company well over $100 million dollars." Tony Hsieh, Zappos #indeedinsights
  7. 7. "The biggest category of mistakes we've made is in hiring. Over the past 11 years, bad hires cost the company well over $100 million dollars." Tony Hsieh, Zappos "Human Resources isn’t a thing we do. It’s the thing that runs our business." Steve Wynn, Wynn Hotel
  8. 8. The responsibility of talent leaders is immense #indeedinsights
  9. 9. How will you fill these positions in 2015? #indeedinsights
  10. 10. Part 1: The sociology of job search #indeedinsights
  11. 11. Indeed conducted two comprehensive talent studies Washington, DC-based research and consulting firm Nationwide survey of 1,000 recruitment professionals Leading global market research firm Survey of 2,293 employed or unemployed job seekers (1,997 employed adults and 296 unemployed job seekers) on March 25-30, 2015. A second wave was conducted from April 27-30, 2015 among 4,025 U.S. adults ages 18 and older, among which 1,761 are employed but not self-employed and 461 are employed but not self-employed and hired within the past year. A separate survey conducted by Harris on behalf of Indeed on May 28-30, 2014 is also referenced. Survey conducted online April 6-10, 2015 #indeedinsights
  12. 12. 20% Active 80% Passive Is it a fact or a myth? #indeedinsights
  13. 13. 29% 55% have conducted a full job search in the last two years Source: Indeed Survey conducted by Harris Poll (Base=Employed or not employed but looking, n=2,293) It turns out that 71% of people say that they are either actively looking or open to a new job Not looking and not open #indeedinsights
  14. 14. 19% Never look at job opportunities 58% Look at job opportunities at least monthly And an even greater percentage say they actively look at job opportunities Source: Indeed survey conducted by Harris Poll (Base=Employed or not employed but looking, n=2,293) #indeedinsights 81% Look at job opportunities
  15. 15. 18-34 35-44 45-54 90% 84% 75% 55-64 65+ 68% 62% High school or less 76% Some college College grad 81% 86% People who actively look at job opportunities are younger and more educated Sources: Indeed survey conducted by Harris Poll (Base=Employed or not employed but looking: 18-34, n=779; 35-44, n=426; 45-54, n=427; 55-64, n=486; 65+, n=175); High school or less, n= 592; Some college, n= 720; College graduate or higher, n= 981) #indeedinsights
  16. 16. And the vast majority of them are currently employed #indeedinsights
  17. 17. Who doesn’t actively look at jobs? #indeedinsights
  18. 18. Who doesn’t actively look at jobs? People who are very unlikely to change jobs. #indeedinsights
  19. 19. 10% When you look at people hired in the past year, virtually none of them were truly passive 11% 11% 9% College Graduates+ Earning $100K+ Between the ages of 35-54 Of people hired did not actively look for a job in the preceding 6 months Source: Indeed survey conducted by Harris Poll (Base=Employed but not self employed adults who were hired in the past year (n=853) #indeedinsights
  20. 20. Visited an online job site Looked at online job boards 49% 47% Visited company career sites Asked friends/family for a referral Asked a professional connection for a referral 46% 44% 29% Source: Indeed survey conducted by Harris Poll (Base=Employed but not self employed and hired within the past year, n=853) 90% of employed adults hired within the past year took an action to find a job 6 months prior to being hired Visiting an online job search site is the #1 activity for people hired #indeedinsights
  21. 21. Candidates expect jobs to come directly to them via mobile #indeedinsights
  22. 22. 44% A large percentage of people have job alerts that bring new listings to them Source: Indeed survey conducted by Harris Poll (Base=Employed or not employed but looking, n=2,293, Ages 18-34, n=779, College degree or more education, n=981; Household Income of $100,000+, n=388) 52% 49% 40% Workers subscribe to job alerts College Graduates or higher Between the ages of 18-34 Household Earnings $100K+ #indeedinsights
  23. 23. 91% 85% Say “highly skilled workers are more likely to be keeping an eye out on new employment opportunities” Say that “people are always keeping an eye on the job market” Talent professionals see this every day #indeedinsights
  24. 24. 65% 50% Of people who make $100K-$110K look at new jobs again within 28 days of being hired And our research shows that starting a new job barely changes people’s job search behavior Source: Indeed Data Of candidates look at new jobs again on Indeed within 91 days of being hired #indeedinsights
  25. 25. The sociology of job search Truly passive candidates are rarer than you might think Younger, highly educated candidates are more likely to be active Online job search is the #1 activity for people who get hired Job search is never-ending: most new hires look for jobs again within 91 days #indeedinsights
  26. 26. Part 2: The psychology of job search #indeedinsights
  27. 27. Candidates must make at least 7 major decisions before they become an employee with your company #indeedinsights
  28. 28. The Career Decision Making Process 01 Consider a change 02 Consider your company 06 Accept the offer 07 Appear at new job 03 Consider a position 05 Commit to the process 04 Apply #indeedinsights
  29. 29. 1. Consider a change The first step is the hardest by far #indeedinsights
  30. 30. Research Observation #1 Career decisions are among the most stressful life decisions #indeedinsights
  31. 31. After family and health, career events have the biggest impact on stress and happiness #indeedinsights
  32. 32. 20 Change in residence 65 23 Trouble with boss 36 Change to a different line of work 40 Pregnancy 50 Marriage 63 Death of a close family member 29 Child leaving home Career Changes Other Life Changes 0 20 Change in working hours or conditions 45 Retirement 30 Foreclosure of mortgage or loan 29 Change in responsibilities at work 47 Dismissal from work Source: Holmes and Rahe Stress Scale #indeedinsights
  33. 33. Research Observation #2 Most people are wired to be resistant to career change #indeedinsights
  34. 34. Career change requires people to project into the future and imagine the potential benefits and risks Benefit of change Probability of failure Choosing a Job #indeedinsights
  35. 35. The Problem: Research shows that most people will overestimate risks associated with a change Probability of failureBenefit of change Choosing a Job #indeedinsights
  36. 36. The Career Psychologist, 2014 “When weighing up the costs and benefits of a decision, we make two errors. First, we overestimate the probability of failure in a new direction because of our negative bias. Second, we underestimate the benefits of change because we fail to imagine or visualize the results of that change in much detail.” #indeedinsights
  37. 37. Maslow: Our Brains are wired for survival, not fulfillment “Our brains evolved to anticipate and predict the worst and we try to eliminate this risk. That’s why our cognitive functions and emotions evolved too—and why we’re 3 to 5 times more sensitive to negative stimuli than positive.” Career Psychologist on Maslow #indeedinsights
  38. 38. Research Observation #3 Career changes are major life changes and change takes a lot of work #indeedinsights
  39. 39. The forces against career change are incredibly strong Career changes are high stress We underestimate the potential benefits Making a career change is hard work 1. Consider a change We overestimate the chance of failure #indeedinsights
  40. 40. So what leads employed people to make the decision to change jobs? #indeedinsights
  41. 41. 21% When I see posts about an interesting company or job 20% When I feel dissatisfied with my current job 19% When I feel discouraged about my current job situation 17% When I feel stressed about money 8% When I don’t get recognized for an accomplishment at work Source: Indeed survey conducted by Harris Poll (Base=Employed, n=1,997) People look for jobs when they are inspired by new opportunities or disillusioned with their current work Career changes are high stress We overestimate the chance of failure We underestimate the potential benefits Making a career change is hard 1. Consider a change #indeedinsights
  42. 42. Active candidate that is unemployed Active candidate that is employed 45% 45% Passive candidate who is employed and open but not looking Passive candidate who is employed and not looking 9% 2% When all things are equal, 9 out of 10 talent professionals would prefer to hire an active candidate Who would you prefer to hire? Source: The Polling Company (n=1,000) #indeedinsights Our survey of talent professionals showed an overwhelming preference for active candidates when all things are equal
  43. 43. Active candidates have already done most of the psychological work to prepare themselves for change #indeedinsights
  44. 44. The Career Decision Making Process 01 Consider a change 02 Consider your company 06 Accept the offer 07 Appear at new job 03 Consider a position 05 Commit to the process 04 Apply #indeedinsights
  45. 45. What attracts candidates? Most candidates consider opportunities based on pay, location and flexibility #indeedinsights
  46. 46. 9% none Good pay / compensation Good location Flexible hours 77% 54% 51% 91% would be attracted by: Benefits Work environment 50% 45% 45% Company reputation Good fit for my family Clear path for advancement 40% 31% 31% Company mission/vision 20% Source: Indeed survey conducted by Harris Poll (Base=Employed or not employed but looking , n=2,293 ) Meaningful work
  47. 47. 18-34 35-44 45-54 51% 40% 43% 55-64 65+ 41% 52% High school or less 39% Some college College grad or higher 45% 52% Generational and life-stage differences in the importance of “meaningful work” Selected meaningful work as factor that would most attract them to a job Source: Indeed survey conducted by Harris Poll (Base=Employed or not employed but looking , n=2,293 )
  48. 48. Research Observation #4 People feel better about decisions that they fully control #indeedinsights
  49. 49. 83% agree or strongly agree “When deciding whether or not to accept a job offer, it’s important to me that I’ve looked around at other opportunities first.” 52% of employed adults Think they would be more successful in a job they found on their own versus one they got from a recruiter or company that contacted them. Source: Indeed survey conducted by Harris Poll (Base=Employed , n=1,997 ) Candidates believe it’s important to direct their own job search #indeedinsights
  50. 50. Even candidates believe they will be more successful if they actively look at new opportunities 78% agree or strongly agree “If a recruiter or a friend proactively contacted me about a position I would consider other available jobs as well (rather than only consider that specific position).” Source: Indeed survey conducted by Harris Poll (Base= Employed or not employed but looking, n=2,293) #indeedinsights
  51. 51. The psychology of job search Career changes involve a stressful, multistep psychological process For passive candidates, the psychological obstacles to change are enormous Active candidates, by definition, are ready for change Candidates prefer to be in control of their job search so that they find the best fit #indeedinsights
  52. 52. Part 3: Your tactics determine your talent #indeedinsights
  53. 53. There have never been more ways to recruit talent Social Recruiting Talent Marketplaces Staffing Firm Employer Brand Campaign Job Search Referral Professional Profile #indeedinsights
  54. 54. The candidate applies first Inbound You contacted the candidates first Outbound But they all fall into two basic approaches #indeedinsights
  55. 55. People finding you in job search Referrals who apply Career fairs Responses to job postings Applications from social recruiting Visitors to your career site Inbound candidates apply to your jobs Inbound People finding you in job search Referrals who apply Career fairs Responses to job postings Applications from social recruiting Visitors to your career site #indeedinsights The candidate applies first
  56. 56. Outbound candidates respond to your recruiters You contacted the candidates first Outbound Contacting people through Indeed Resume Contacting people via LinkedIn Contacting people in a resume database Referrals that you call #indeedinsights
  57. 57. Easier Faster Lower cost More likely to result in success Most talent professionals try first to fill open positions with inbound candidates Source: The Polling Company (n=1,000) #indeedinsights
  58. 58. Talent professionals believe it is more expensive to find passive candidates through outbound recruiting Outbound is the same or more expensive 87% Cost of Recruiting Outbound is less expensive 13% Source: The Polling Company (n=1,000 ) #indeedinsights Expensive recruiter labor and increased candidate salary expectations drive up the costs of outbound recruiting tactics
  59. 59. Companies that fully measure cost per hire find additional reasons why outbound recruiting is more expensive Labor intensive Low candidate response rates to inquiries Low offer acceptance rates Long lead times Uncertain cultural fit Time-consuming to overcome psychological barriers to change #indeedinsights
  60. 60. 8% Motivational Drive to Succeed Once Hired Active Passive 51% Source: The Polling Company (n=1,000)) Talent professional survey: Once on the job, active candidates have a stronger desire to succeed About the same 41% “Once employed in the company, who do you feel has better motivational drive to succeed: an active candidate, a passive candidate or both (about the same)?” #indeedinsights
  61. 61. #indeedinsights People have higher salary expectations when contacted by a recruiter 28% Inbound Percentage of active candidates who expect a salary increase* to accept a new job Not employed Employed 14% 51% If the new job is in the same city If the new job requires relocation 32% *More than a 15% salary increase Source: Indeed survey conducted by Harris Poll (Base=Employed, n=1,997; or not employed but looking, n=296) Outbound Percentage of employed passive candidates who expect a salary increase* to accept a new job
  62. 62. Lack of passion and commitment Can’t adapt to position 45% 40% Not a good fit Can’t adapt to culture 32% 31% Can’t get along with management 16% Lack of passion is the #1 reason that passive hires fail When thinking about “passive candidates” that you have hired, what are the reasons some are not successful in their new roles? Source: The Polling Company (n=1,000) #indeedinsights
  63. 63. 1. Some roles get too many applications to screen 2. Some roles are hard to quickly fill 3. Difficult to control who applies 4. Some open roles need to be kept confidential 5. Resume often don’t provide enough data to find best candidates Inbound recruiting has its challenges as well #indeedinsights
  64. 64. So how can you shape your recruiting organization to best take advantage of the changing nature of job search? #indeedinsights
  65. 65. Practices to Find the Right Talent5 #indeedinsights
  66. 66. 1. Sequence recruiting tactics to maximize quality, cost and performance #indeedinsights
  67. 67. Science and the future of recruiting Sequence investments to maximize quality and minimize cost Paid Inbound Outbound 20% of roles 60% of roles Set budget based on conversion rates and # of candidates required 20% of roles If insufficient pipeline after 14 days begin outbound recruiting Inbound first Outbound if needed Free Inbound #indeedinsights
  68. 68. Today, 33% of US job vacancies are open for at least three months There are more chronically unfilled vacancies in Indiana (35.8%) than other parts of the country Focus outbound efforts on the jobs that are likely to be chronically unfilled Source: Indeed, ONS, Cebr analysis Lowest 24.1% Average 31.2% Highest 35.8% Percentage of unfilled jobs after 3 months by state (average 2013-2014) In New York and California, over 34% of job openings typically remain open for more than three months
  69. 69. Chicago Austin Atlanta Washington Seattle Atlanta San Francisco Seattle Washington Dallas In the US, the hardest positions to fill include software engineers and many other high-demand technology-related positions 1 2 3 4 5 6 7 8 9 10 Retail Sales Manager Operations Manager Retail Sales Manager Computer Software Engineer Computer Software Engineer Management Analyst Computer Software Engineer Computer and Information Systems Manager Software Quality Assurance Engineer Retail Sales Manager Detailed occupationRank City Source: Indeed, ONS, Cebr analysis, Dec 2014
  70. 70. 2. Shape your candidate pipeline #indeedinsights
  71. 71. In the era of search, you control your talent Job titles Job descriptions Career site Apply process Company reviews 5 key levers to shape your talent pipeline with search Source: The Polling Company (n=1,000) #indeedinsights
  72. 72. Science and the future of recruiting We’re looking for thoughtful, well-rounded front-end engineers to join our team. If you’re the right one for us, you love the Web, take great pride in your work, think of coding as more than just a job, and have a few great projects to show off. You can take a concept and transform it into an awesome Web-based experience with your own technical and UI/UX expertise. Write great job descriptions that draw talent and perform well in search Spotify job posting #indeedinsights
  73. 73. Science and the future of recruiting We’re looking for thoughtful, well-rounded front-end engineers to join our team. If you’re the right one for us, you love the Web, take great pride in your work, think of coding as more than just a job, and have a few great projects to show off. You can take a concept and transform it into an awesome Web- based experience with your own technical and UI/UX expertise. Write great job descriptions that draw talent and perform well in search #indeedinsights Spotify job posting
  74. 74. Science and the future of recruiting Make it easy for candidates to browse and apply on mobile devices 44% Mobile + Desktop 32% Desktop Only 24% Mobile Only Source: Indeed Data #indeedinsights
  75. 75. Science and the future of recruiting Be careful not to lose good candidates to overly complex application processes 50.0% 0 5 10 20 30 40 45+ 90% 80% 70% 60% 50% 40% 30% 20% 10% 0 ReductioninApplications 16.5% 17.2% 44.1% 50.0% 70.8% 88.7% # of online screener questions Source: Indeed Data #indeedinsights
  76. 76. 3. Build a brand that brings talent to you #indeedinsights
  77. 77. Science and the future of recruiting 83% Your brand determines your candidates 46% 5% Say reviews impact where they apply Increase in apply rate when employer reviews areavailable Say company reputation has a big impact on decision to accept a job Source: Redshift Research Study for Indeed #indeedinsights
  78. 78. 4. Optimize the inbound and outbound candidate experience for top talent #indeedinsights
  79. 79. Science and the future of recruiting Your inbound process needs to be good enough that you would encourage a great candidate to go through it #indeedinsights
  80. 80. Science and the future of recruiting Airbnb recognized that their candidate experience needed an overhaul 1. What do we want them to know? 2. What do we want them to feel? 3. What does rejection look like at this stage? 4. What makes this stage uniquely Airbnb? Storyboarding Exercise | Mapped experience end-to-end 1. Website FAQ for candidates 2. New Applicant Tracking Software 3. Candidate feedback surveys 4. Interviewer training What they implemented #indeedinsights
  81. 81. 5. Build a platform for inbound recruiting #indeedinsights
  82. 82. If outbound recruiting is akin to sales, inbound recruiting is much more like marketing #indeedinsights
  83. 83. Recruiting technology will continue to evolve to look more like marketing technology Using technology to get great at matching applicants and opportunities Website and Landing Page Lead Capture Predictive Scoring Marketing Automation CRM Performance Analytics Marketing Technology Platform Career Site Apply Screening Candidate Marketing Automation Candidate CRM Talent Performance Analytics Recruiting Technology Platform
  84. 84. Measure fully loaded cost per successful hire including recruiter labor costs #indeedinsights
  85. 85. 1. Sequence recruiting tactics 2. Shape your candidate pipeline 3. Build a brand that brings talent to you 4. Optimize candidate experience 5. Build an inbound recruiting platform #indeedinsights
  86. 86. What is the impact of becoming great? #indeedinsights
  87. 87. 87% reduction in cost per hire #indeedinsights
  88. 88. ½ the applicants required to fill a position #indeedinsights
  89. 89. Targeted candidates 8X+ more likely to apply #indeedinsights
  90. 90. +faster time to hire #indeedinsights
  91. 91. Get all the insights from our talent attraction study: indeedhi.re/attractionreport #indeedinsights
  92. 92. Learn more at indeed.com/hire blog.indeed.com | @indeed #indeedinsights

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