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Slide 1: ACHIEVE TALENT MANAGEMENT SUCCESS Talent Acquisition Systems: Update on Trends/Best Practices Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved.
Slide 2: ACHIEVE TALENT MANAGEMENT SUCCESS Agenda Recent Market Trends Best Practices Where can we go from here? Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 3: ACHIEVE TALENT MANAGEMENT SUCCESS Recruiting Technology Market Evolution Profiling/Job Seeker Mgmt Candidate Management Applicant Tracking Workforce Management HRIS-Total Solution Contact Management Social Networking Contingent workers Talent Management Performance Mgmt. Succession Planning Learning/Development Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 4: ACHIEVE TALENT MANAGEMENT SUCCESS Recent Market Trends Consolidation Talent Management Suites New niche products Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 5: ACHIEVE TALENT MANAGEMENT SUCCESS The Shifting Market Landscape Applicant Tracking – ADP/Virtual Edge – Kenexa/Brassring – Taleo/Vurv – Peopleclick – iCIMS Talent Management Suite – Authoria – SuccessFactors – Taleo Candidate Relationship Management (CRM) – AIRS Sourcepoint – Salesforce.com . Workforce Planning – Aruspex – Doublestar – InfoHRM – Vemo Reference Checking – Checkster – SkillSurvey Search Engine Optimization – Jobs2Web – SEO4Jobs Talent Exchanges – Bounty Jobs – Talent Maze Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved.
Slide 6: ACHIEVE TALENT MANAGEMENT SUCCESS Technology Selection Methodology Phase I - Planning Capability Functionality Prioritized business requirements Process mapping and alignment Phase II - Analysis Focus Business Goal Technical RFI/RFP Finalist Demonstrations Usability testing Phase III - Selection Service Cost Final selection and contract negotiation Gap analysis Pre-implementation planning . Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved.
Slide 7: ACHIEVE TALENT MANAGEMENT SUCCESS TNG Technology Optimization Model Critical Success Factors – Technical Infrastructure – Process Alignment – Information Management – Change Management – Operational Support Operational support is the core driver Continuous cycle Drive the ROI Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 8: ACHIEVE TALENT MANAGEMENT SUCCESS Return on Investment Cost Based – Reduce FTE’s – Reduce Agency Fees – Reduce Advertising Costs – Provide a view into financial impact of Talent Acquisition Value Add – Improve the quality of Hires – Improve Hiring Process Satisfaction – Alignment with other Talent Management Initiatives Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 9: ACHIEVE TALENT MANAGEMENT SUCCESS Steps to Achieve ROI Financial Impact Return on Investment Value-Added Talent Acquisition Business Strategy Retention/Turnover Performance Customer Satisfaction Adoption Traditional System ROI User Acceptance/Data Integrity Effective Recruiting Operations Talent Acquisition System Implementation Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 10: ACHIEVE TALENT MANAGEMENT SUCCESS Reporting & Metrics Strategy Develop a reporting strategy that aligns with your business strategy – Identify and define organizational goals and objectives – Identify specific metrics and measures for each goal – Define reports to manage and maintain visibility – Identify Gaps Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 11: ACHIEVE TALENT MANAGEMENT SUCCESS Where do we go from here? 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 12: ACHIEVE TALENT MANAGEMENT SUCCESS The Fish Net Method Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 13: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 14: ACHIEVE TALENT MANAGEMENT SUCCESS 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! Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 15: ACHIEVE TALENT MANAGEMENT SUCCESS 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? Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 16: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 17: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 18: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 19: ACHIEVE TALENT MANAGEMENT SUCCESS 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? Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 20: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 21: ACHIEVE TALENT MANAGEMENT SUCCESS Social Network Analysis Social network analysis is the mapping and measuring of relationships and flows between people, groups, organizations, computers, web sites, and other information/knowledge processing entities The nodes in the network are the people and groups while the links show relationships or flows between the nodes SNA provides both a visual and a mathematical analysis of human relationships Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 22: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 23: ACHIEVE TALENT MANAGEMENT SUCCESS Network Analysis Closed Network Open Network Group 4 Group 1 Group 3 Group 2 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 24: ACHIEVE TALENT MANAGEMENT SUCCESS 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. Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 25: ACHIEVE TALENT MANAGEMENT SUCCESS 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. Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 26: ACHIEVE TALENT MANAGEMENT SUCCESS Filling structural holes Group 4 Group 1 Group 3 Group 2 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 27: ACHIEVE TALENT MANAGEMENT SUCCESS Position in Network The McKinsey Quarterly: Harnessing the .power of informal employee networks, 2007 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved.
Slide 28: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 29: ACHIEVE TALENT MANAGEMENT SUCCESS 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 Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 30: ACHIEVE TALENT MANAGEMENT SUCCESS Visualizing The Network Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 31: ACHIEVE TALENT MANAGEMENT SUCCESS Visualizing The Network Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .
Slide 32: ACHIEVE TALENT MANAGEMENT SUCCESS Thank you! ed.newman@futurestep.com Copyright © 2008. Korn/Ferry International and Korn/Ferry International Futurestep, Inc. All Rights Reserved. .