what the best hires have in common | webcast

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What the Best Hires Have in Common How to Define (and Improve) Quality of Hire

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Page 1: What the Best Hires Have in Common | Webcast

What the Best Hires Have in CommonHow to Define (and Improve) Quality of Hire

Page 2: What the Best Hires Have in Common | Webcast

What Is Quality of Hire in Today’s New

Work Environment?

How Can I Influence My Business to Focus on Hiring Higher Quality

Talent?

What Does this Mean for Me?

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#HiretoWin

Page 3: What the Best Hires Have in Common | Webcast

Top Three Metrics Used to Track Quality of HirePercentage of Talent Acquisition Professionals

Turnover/Retention 50 56 53

49 41 51New Hire Performance

Evaluation

44 46 46Hiring Manager

Satisfaction

GlobalNorth AmericaAsia Pacific

WHAT METRICS DOES YOUR ORGANIZATION USE TO TRACK QUALITY OF HIRE?

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n = 3,379.

Source: LinkedIn, Global Recruiting Trends, 2013.

Page 4: What the Best Hires Have in Common | Webcast

New Hire Underperformance

Source: CEB, Global Labor Market Survey, Q4 2012.

new hires are “bad” or have “regretted decisions”, according to hiring managers on their team

1 in 5

Turnover Costs

1 Per 1,000 hires due to new hire turnover.

$1.6Min rework costsincurred by Recruiting1

New Hire Turnover

Source: CEB, Turnover Benchmarking Database, 2013.

23%among employeeswith tenure of oneyear or less

TOO MANY REGRETTED HIRING DECISIONS

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Page 5: What the Best Hires Have in Common | Webcast

Teams Job Levels

Job Locations

67 66 6357

Functions

50%

NEW HIRES FACING MORE INTERDEPENDENT WORK

Cross-Silo CoordinationPercentage of Employees Who Regularly Coordinate with People in Different…

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in Reliance on Others to Get Work Done

in How DispersedWorkforces AreAcross the Globe

of Employees ReportWorking with 20+ Peoplein Their Day-to-Day Jobs

57%

30%

n = 23,339.

Source: CEB, HighPerformance Survey,2013.

Page 6: What the Best Hires Have in Common | Webcast

+ =

Individual Task Performance

Employee’s effectiveness at achieving his or her individual tasks and assignments

Network Performance

Employee’s effectiveness at improving others’ performance and using others’ contributions to improve his or her own performance

Enterprise Contribution

Employee’s effectiveness at his or her individual tasks, contribution to others’ performance, and use of others’ contributions to improve his or her own performance

Up to 12% improvement

in profit

CEB’s Model of High Performance

A NEW TYPE OF HIGH PERFORMER

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Page 7: What the Best Hires Have in Common | Webcast

Conventional Definition of Quality of Hire

A new hire’s current effectiveness at completing his or her individual task

CEB’s 2013 Quality of Hire Definition1

A new hire’s current and likely future effectiveness at completing his or her individual tasks, contributing to others’ performance, and using others’ contributions to improve his or her own performance

1 As rated by hiringmanagers.

HOW DO WE ACHIEVE HIGHER QUALITY HIRES FOR TODAY’S NEW WORK ENVIRONMENT?

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Page 8: What the Best Hires Have in Common | Webcast

Recruiters

1. Technical skills

2. Culture fit

3. Communication skills

4. Previous work experience

5. Interpersonal skills

n = 214 Talent Acquisition Professionals in the Technology sector located in US, Canada, UK, and Australia.

Source: LinkedIn, Global Recruiting Trends, 2013.

Hiring Managers

1. Problem solving skills

2. Technical skills

3. Communication skills

4. Work ethic

5. Agility/adaptability

vs.

n = 395 Technical Hiring Managers in theSoftware industry located in US.

Source: LinkedIn, Quality of Hire Research, 2013.

What characteristic is most predictive of a new hire’s success within the organization?

THINK LIKE A HIRING MANAGER

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Page 9: What the Best Hires Have in Common | Webcast

48%

52%

Ability

New hire’s level of attainment of knowledge and skills

Fit

The relationship between new hire and his or her colleagues and organization

Relative Impact on Quality of Hire

FOCUS ON CANDIDATE FIT, NOT JUST ABILITY

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73% n = 4,112.

Source: CEB, Selection Effectiveness Diagnostic, 2013.

Page 10: What the Best Hires Have in Common | Webcast

Fit with immediate colleagues(e.g., Peers, Manager)

Fit with the work environment(e.g., Competencies, Work Preferences)

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TWO DIMENSIONS OF FIT MATTER

2. HOW?

Relevance to WorkProximity to Colleagues

1. WHO?

n = 500.

Source: CEB, Selection Effectiveness Diagnostic, 2013.

Review the LinkedIn profiles of your hiring manager’s direct reports to see what skills they list, degree types and levels they hold, schools they attended, etc.

Page 11: What the Best Hires Have in Common | Webcast

Sample Ways to Find Candidates With Network Fit Through LinkedIn• Quality of mutual LinkedIn connections with candidate• Quality of candidate LinkedIn connections with employees

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HIRE MORE FOR NETWORK FIT

n = 500.

Source: CEB, Selection Effectiveness Diagnostic, 2013.

Culture Fit

How well the new hire fitswith the organization’s culture

Impact on Quality of Hire =

12%

Network Fit

How well the new hire fitswith the way colleagues work

Impact on Quality of Hire =

30%

Page 12: What the Best Hires Have in Common | Webcast

79%of working professionalsaround the globe areconsidered passive candidates

The other 21% areactively seeking a new job

YOUR NEXT HIRE MAY REQUIRE A NEW APPROACH

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n = 3,995.

Source: LinkedIn,Recruitment InsightsResearch, 1/2011-8/2012.

Page 13: What the Best Hires Have in Common | Webcast

120% more likely to want to make an impact

33% more likely to want challenging work

17% less likely to need skill development opportunities

21% less likely to need recognition for their contributions

COMPARED TO ACTIVE TALENT, PASSIVE TALENT SHINES

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n = 3,995.

Source: LinkedIn,Recruitment InsightsResearch, 1/2011-8/2012.

Page 14: What the Best Hires Have in Common | Webcast

What Is Quality of Hire in Today’s New

Work Environment?

How Can I Influence My Business to Focus on Hiring Higher Quality

Talent?

What Does this Mean for Me?

19

#HiretoWin

Page 15: What the Best Hires Have in Common | Webcast

GlobalNorth AmericaAsia Pacific

37 37 35Utilizing social and professional networks

30 24 33Upgrading employer branding

29 2935Finding better ways to source

passive candidates

29 2424Being a strategic Talent Advisor to the business

251821Boosting referralprograms

What Do You Consider To Be The Most Essential and Long-Lasting Trends In Recruiting for Professional Roles?Percentage of Recruiters

TRENDS THAT AREN’T GOING AWAY

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n = 3,379.

Source: LinkedIn,Global RecruitingTrends, 2013.

Page 16: What the Best Hires Have in Common | Webcast

Relative Impact of Recruiter Capabilities on Recruiter PerformancePercentage of Impact Explained

19% of recruiters currently qualify as Talent Advisors

15

33

52

Process Expert

Pipeline Manager

Strategic Advisor

MOVE BEYOND PROCESS MASTERY TO STRATEGIC INFLUENCE

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Source: CEB, BuildingNext GenerationRecruiter Capabilities.

Page 17: What the Best Hires Have in Common | Webcast

Order Takers

Trust hiring manager assumptions

Fill requisitions effectively

Drive for satisfaction

Decision Influencers

Challenge hiring manager assumptions

Frame requisitions strategically

Drive for impact

Talent Advisor Defined

Talent Advisors are decision influencers, not order takers. They earn the right to influence by informing staffing decisions with acute knowledge of the organization and deep expertise of external markets.

EXPERTISE EARNS THE RIGHT TO INFLUENCE

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Source: CEB, BuildingNext GenerationRecruiter Capabilities.

Page 18: What the Best Hires Have in Common | Webcast

A COMPARISON OF TWO APPROACHES

Needs Definition

ASKS

PROBES ANDCHALLENGES

Sourcing

POST AND HOPE ACTIVE MINING

PASSIVE MINING IN NON-OBVIOUS PLACES

Selection

ASSESSES FOR CULTURE FIT

ASSESSES FOR NETWORK FIT

Average Recruiter Approach

Talent Advisor Approach

Use LinkedIn Talent Pools Reports to collaborate with hiring managers to identify hidden pools of talent: lnkd.in/TalentDemand

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Source: CEB, BuildingNext GenerationRecruiter Capabilities.

Page 19: What the Best Hires Have in Common | Webcast

WHAT RECRUITERS ARE SAYING

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#HiretoWin

…Source and Recruit in New Regions

“ I am proud to say that the commercial jobs were all filled...I received recognition from the

business…and have learned a lot myself as well... ”

…Build Credibility with Hiring Managers

“ The key was understanding the hiring manager’s needs, translating that to the search efforts, delivering quality candidates, and over communicating status updates! ”

Developing as a Talent Advisor helps me to…

Page 20: What the Best Hires Have in Common | Webcast

Johnson & Johnson

“…created the Talent Advisorcompetency model andimplemented that across myglobal organization.”

Jeanne FedorykVP, Global Recruiting

Charles Schwab

“The notion of what a Talent Advisor is…helped us get to the next level.”

Frank HynesVP, Talent Acquisition

WHAT RECRUITING LEADERS ARE SAYING

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#HiretoWin

Page 21: What the Best Hires Have in Common | Webcast

What Is Quality of Hire in Today’s New Work

Environment?

How Can I Influence My Business to Focus

on Hiring Higher Quality Talent?

What Does this Mean for Me?

27

#HiretoWin

Page 22: What the Best Hires Have in Common | Webcast

Recruiters: 3 Things You Should Do Differently

1. Ask candidates to demonstrate what they can do in situations that reflect the work environment of the role

2. Get peers on the interview slate to avoid over-relying on hiring manager’s assessment of fit

3. Earn the right to influence through firm-specific business acumen and labor market expertise

How to Define (and Improve) Quality of Hire

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#HiretoWin

Page 23: What the Best Hires Have in Common | Webcast

Recruiting Leaders: 3 Things You Should Do Differently

1. Incorporate Network Fit into assessment and selection strategies

2. Build Talent Advisor capabilities by shifting recruiter mindsets from order takers to decision influencers

3. Measure your results by focusing on quality and tracking your team’s effectiveness over time

How to Define (and Improve) Quality of Hire

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Page 24: What the Best Hires Have in Common | Webcast

KEY TAKEAWAYS

What is Quality of Hire in Today’s New Work

Environment?

How Can I Influence My Business to Focus

on Hiring Higher Quality Talent?

What Does this Mean for Me?

30

#HiretoWin

Hire for Network Fit: How well the new hire fits with the way colleagues work

Develop Talent Advisor Capabilities:Being a Talent Advisor is more tactical than you might think

Recruiter Takeaways:1.Conducting simulation-based

interviews2.Involving peers in interview

process3.Developing as a Talent Advisor

Recruiting Leader Takeaways:4.Selecting for Network Fit5.Building Talent Advisor

capabilities 6.Tracking recruiting effectiveness

Page 25: What the Best Hires Have in Common | Webcast

CEB is the world’s leading member-based advisory company. We have a unique view into what matters — and what works — when capitalizing on drivers of business performance. With 30 years of experience working with top companies to share, analyze, and apply proven practices, we begin with great outcomes and reverse engineer to help you unlock your full potential.

ABOUT CEB

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Largest collection of best-practice research on talent management

− 500+ researchers across 50+ domains

− Experts in over 220 functional disciplines

− 300,000+ proven best practices

− Largest employer of organizational psychologists

Largest network of functional executives

− 16,000 C-level executives

− 300,000 business professionals

− 94% of Fortune 100; 88% of Fortune 500

− 40+ functions

Extensive global coverage

− Serving 10,000 companies in 110+ countries

− Offices in over 50 countries

− Assessments in 30 languages, customized to regional variations

World’s largest and most proven provider of talent assessments

− 30 million assessments delivered annually

− Across 38 countries, 31 business functions and 40 industry sectors

Page 26: What the Best Hires Have in Common | Webcast

Proactive Sourcing

Automated Engagement

Metrics and Analytics

Personalized Job Targeting

Talent Brand Development

Strategic Sourcing

and Pipelining

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ABOUT LINKEDIN TALENT SOLUTIONS

An Effective Recruiting Strategy Requires Three Core Elements: