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Bullhorn Live Benchmarking Session
- 1. 2012 BENCHMARK DATA: HOW DOES YOUR FIRM STACK UP? Joe Zeff
- 4. MONEYBALL AWARD – BEST DATA QUALITY
- 5. HOW GOOD IS YOUR DATA? 36,973 • Bullhorn 22,432 implementation • Internal processes Positions Starts
- 6. BEST FARM SYSTEM – CANDIDATE SOURCING Free Agents vs. Homegrown Talent
- 7. CANDIDATE SOURCING Most Effective (according to you): 1. Attend networking events 2. Join professional groups 3. Participate in online social 11% networking … 6. (last on the list) Job Boards & others 41%
- 8. BATTING AVERAGE AWARD – HIGHEST FILL RATE • Clean data • Internal & External • Caveats
- 9. PERFORMANCE AND CONSISTENCY 60% Difference Between Branches 50% Small, 17% Variation 40% Large, 22% 30% 20% Medium, 18% 10% 0% 0% 10% 20% 30% 40% 50% Performance Fill Rate (Starts/Positions)
- 10. CY YOUNG AWARD – PITCHING THE BEST CANDIDATES • Hit Rate: Starts / Client Submissions • Most important metric • Client/ candidate fit
- 11. PERFORMANCE AND CONSISTENCY 30% Difference Between Branches, Small, 6% 25% 20% Variation 15% 10% Medium, 7% Large 16% 5% 0% 0% 5% 10% 15% 20% Performance Starts/Client Submissions
- 12. MVP AWARD – VALUE ADDED TO CLIENT
- 13. DO YOU ADD VALUE TO ALL OF YOUR CLIENTS? Small Medium Large 45% 40% 35% % of Clients 30% 25% 20% 15% 10% 5% 0% 0-25% 26-50% 51-75% 76-99.9% Fill Rate (Range)
- 14. BENCHMARKING • Report • Compare • Track
- 15. Q&A
- 16. 2012 BENCHMARK DATA: HOW DOES YOUR FIRM STACK UP? Appendix
- 17. ABOUT THE DATA • Source: Bullhorn’s new Standard Reports – Recruiting Activity – Source Effectiveness – Job Activity, by Client • Methodology: – Data set: 71 agencies in attendance at Bullhorn Live – Grouped by number of recruiters (1-20, 21- 50, 51+)
- 18. HOW TO READ THE FOLLOWING CHARTS Data is broken down into quartiles Example: the bottom 25% Example: the top 25% (75th 35% (25th percentile) of small percentile) of small 32% companies had a success 30% 31% companies had a success 30% rate of 10% or lower rate of 20% or higher 25% 22% 22% 21% 20% 21% 20% 20% 15% 12% 10% 11% 10% 5% SAMPLE DATA 0% 25th Percentile 50th Percentile 75th Percentile Overall (n=71) Small Medium Large Company Size
- 19. AVERAGE FILL RATE 35% Fill Rate defined as: # Starts 31% 30% # Positions 25% 22% 20% 19%20% 17%18% 15%16% 15% 10% 9% 7% 5% 5% 2% 0% 25th Percentile 50th Percentile 75th Percentile Overall (n=71) Small Medium Large
- 20. AVERAGE HIT RATE 25% Hit Rate defined as: # Starts 21% 20% # Client Submissions 16% 15% 10%10% 10% 9% 7% 6% 7% 5% 4% 3% 2% 2% 0% 25th Percentile 50th Percentile 75th Percentile Overall (n=71) Small Medium Large
- 21. % OF CANDIDATES SOURCED FROM REFERRALS + SOCIAL NETWORKS Relevant sources include referrals 16% and personal connections on online social networks 14% 14% 14% 13% 13% Note: the average for Small and Large companies appears higher than the 75th %-ile because of a small 12% number of firms with extremely high rates. The Median (50%-ile) may be a more representative measure). 10% 10% 8% 7% 7% 6% 5% 6% 4% 3% 3% 2% 2% 0% 25th Percentile 50th Percentile 75th Percentile Average (n=63) Small Medium Large
- 22. AVERAGE FILL RATE ACROSS CLIENTS Fill Rate across clients determined by: 1. Calculating Fill Rate (# Starts / # 45% Positions) for each client 40% 39% 2. Calculating the average Fill Rate across 35% all clients 30% 24% 26% 25% 24% 23% 19% 20% 17% 18% 15%14% 15% 11% 10% 8% 5% 0% 25th Percentile 50th Percentile 75th Percentile Overall (n=71) Small Medium Large
Notas do Editor
- Both industries are increasingly using data to gain competitive advantageLike baseball, staffing is another industry where: Metrics & targets drive day-to-day activityIn turn, that recruiting and sales activity GENERATES a great deal of information
- One benefit of using Bullhorn is you get the new reports,and thus can get great insight into how you’re doing A side benefit with using the leading platform is that with the number and breadth of recruiters using our system, we can help you benchmark your businessWe’ve taken the liberty of looking at the data in these reports, analyzing it for most of the firms represented in this room, and today will give out awards that recognize some of the top performersNote: categorized by size; may not have everyone’s data, especially if you signed up relatively recently
- Moneyball using advanced analytics to better compete against teams that had more money to spend on hiring star playersManager crunched numbers to figure out which players were undervaluedCleanest dataLooked at key ratios (fill rate + a number of other workflow-related activities) – who entered the data most accurately, without irregularitiesGrouped by business size (# recruiters)
- Stating the obvious: the insights you can glean from your data is only as good as the data itselfFor example: actual data from several branches of one of the companies represented in this roomA lot of firms had 1 rogue branch; this one had several branchesGoal is not to call anyone out, it’s to highlight the importance of ensuring clean, accurate dataAs the old saying goes, garbage in garbage out:Bullhorn is very flexible, and our customers are good at implementing it in a way that aligns w/ the workflow. But, the other key piece is to ensure you have the right processes in place.In other words, good data doesn’t just happen
- Can’t win if don’t put talent on the fieldFree agents vs. homegrown from the minor leagues (aka farm system)Paid sources (job boards, etc.) = free agents: they will bring immediate results, but at a cost – what is the ROI?“Homegrown” sources (social networks/Reach/referrals) = minor leaguers: requires longer term effort to nurture contacts, but pays off greatly down the roadSo the question is, how many of your candidates are Free Agents, and how many come up through your Farm System?
- Top 3 = farm system, homegrown talent nurtured over time11% of candidates sourced from within existing networksTop job boards, 41% of all candidates sourced by you this yearNot necessarily problematic – reflects different approaches for different roles, time constraints, etc.But, looking at these can tell you Actual ROI of each source (pay X for postings, earned $X from it)And then, where to invest time, effort, $$
- Starts/PositionsFiltered out the “bad data” outliers as in the earlier exampleEven if you don’t have external benchmark info, still can be useful to compare branches to one another (i.e. internal benchmarking)Of course, must take a slew of other factors into consideration – industry, type of role, local labor market, etc.
- DescriptionX-axis: Fill Rate (starts/positions hiring for)Y-axis: for each company, look at the difference between its top and bottom branches; then, avg across companiesFor variation of small agencies, only looked at companies that had 2+ branchesKey TakeawaysNot much difference in Fill Rates by sizeBig difference in consistency – small companies have some very high-performing and very low-performing branches
- According to Bullhorn Survey respondents: Hit rate (the number of applicants making it to successive rounds of the selection process) = most important metricIt’s about accuracy, and reflects:A) How attuned to client’s needs & preferencesB) How effective at finding candidates with right credentials and right fit
- DescriptionX-axis: Ratio of starts/submissionsY-axis: for each company, look at the difference between its top and bottom branches; then, avg across companiesFor variation of small agencies, only looked at companies that had 2+ branchesFrom Small to Medium: much less variation – processes put in place, etcFrom Medium to Large: significant improvement in performanceHere, the top branches at Medium and Large firms outperformed top branches at small companies (bad branches consistent across sizes; good branches better at Med/Large firms)
- Already looked at metrics/benchmarks from the internal perspective of management, i.e., how well are we performingMVP is from the client’s perspective – how do they perceive your performance?
- Everyone probably has some clients who love you, and some where you may not be standing outExplanation: Fill Rates brokeninto 4 categories, from low to high (x-axis)% of clients where that fill rate applies toIn English: For ~1/3 of your clients, you fill less than 1/4 of the jobs you work onVery similar breakdown across sizesLarge firms do slightly better at limiting the # of clients where value-added is smallWhy the low fill rates? Less familiarity (new vertical, new geo, new relationship, etc)Where you have high fill rates, leverage those stories to SELL – to those clients, and to others
- Turn on your reportsUse internal benchmarks – Most productive recruiters, branches, etc.Track over time Trending up or down?