Make no mistake: The recruiting world is a volatile yet important place to be right now. While demand for talent surges, qualified candidates with critical skills are harder than ever to find. How will your company respond to this predicament? Jobvite CEO Dan Finnigan frankly discusses why now, more than ever, recruiters need the power of innovation to fuel their strategies—and why their futures might depend on it.
9. Tomorrow You Will Lead the Tribe!
Only With Courage, A New Approach, Hard Work – and the Right Weapons!
10. Growing Awareness: Talent Matters Most
Source: Boston Consulting Group, ―Realizing the Value of People Management; From Capability to Profitability‖, August 2, 2012
―People‖ Companies Outperform the Market Average
#Jobvite13
11. Recruiting Delivers 40% More Profit Growth
Than Next Best HR Function
Source: Boston Consulting Group, ―Realizing the Value of People Management; From Capability to Profitability‖, August 2, 2012
#Jobvite13
12. Recruiting will be one of the hot careers in
the next decade
• 14% Y/Y increase
• Most commonly advertised job title: Recruiting
Source: Wanted Technologies
#Jobvite13
13. Why?
1.Business Need Skilled Talent More Than Ever
2.Talent Is Becoming Increasingly Scarce Worldwide
3.Talent Is Choosy, Savvy Consumer of Opportunities
The recruiters who transform themselves into
marketers become as important—if not more—
than any function.
#Jobvite13
14. Jobs In Future Require Education
Source: Bureau of Labor Statistics
20%
22%
17%
18%
18%
12%
14%
Doctoral / professional degree
Master degree
Bachelor degree
Associate degree
Some college
High school
Less than high school
% Change Employment 2010- 2020
Source: Bureau of Labor Statistics
#Jobvite13
15. Most Advertised Openings in U.S. Today:
All But Two Require College
1. Computer Occupations
2. Health Diagnosing and Treating Practitioners
3. Other Management Occupations (inc. HR)
4. Financial Specialists
5. Business Operations Specialists
6. Sales Representatives, Services
7. Engineers
8. Information and Record Clerks *
9. Advertising, Marketing, Promotions, PR, and Sales Managers
10. Supervisors of Sales Workers *
#Jobvite13
Source: Brookings Institution
16. U.S. App Economy Jobs
before the
iPhone
0 current day
477k
Source: TechNet, The App Economy
Mobile Applications Engineer
iPhone Application Developer
Social Media Manager
User Experience Analyst
Android Developer
Virtualization Architect
Mobile Marketing Strategist
iPad Game Developer
API Platform Manager
18. Working Age Population Shrinking Worldwide
Source: Deloitte Research, UN Population Division (http://esa.un.org/unpp/)
#Jobvite13
19. Creating A Serious Shortage
Source: Bureau of Labor Statistics, Current Population Survery
#Jobvite13
20. Battle of the Brains
(US-based schools listed in blue)
Source: PR Newswire
#Jobvite13
21. Battle of the Brains
(US-based schools listed in blue)
Source: PR Newswire
#Jobvite13
22. Severe Shortage Of STEM Graduates In US
92
Parks, recreation
and fitness
’98-’08
%
Source: SunSentinel, 2012
STEM Jobs STEM Degrees
50,000 Shortage in
Florida Alone
64,000
14,855
#Jobvite13
23. engineering
66%
doctorates 50%
plan to
stay
tech
45%
science
+doctoral
35%
degrees
Source: CNN Money
Immigration Debate In DC
• 764,321 foreign students enrolled in
U.S., up 5.7% in 2011
• U.S. world share dropped 25% to 18% -
now up to 21%
• H1B Visa capped at 85K (20K for those
with Advanced Degrees)
• Proposed Bill: Increase to 115K – 300K
• New Study: No shortage of STEM?!?
#Jobvite13
24. Only 29% of Applies Come From College
Graduates; Only 13% STEM Graduates
Bachelor of Arts
10%
Bachelor of Science
10%
MBA
5%
Master of Science
3%
Master of Arts
1%
No Degree
71%
#Jobvite13
25. More Engineers Reject, Than Accept, Offers
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
Engineering Sales Marketing Biotechnology Administrative Accounting Advertising Customer
Service
Human
Resources
Business
Development
#Jobvite13
27. Gen Y Dominates Workforce in 5 Years
0
25
50
75
100
125
150
175
200
225
1990 1995 2000 2005 2010 2015 2020 2025 2030
Pre-Boomers
Baby Boomers
Generation
Generation Y and beyond
SOURCE: U.S. Bureau of the Census, projections based on 2000 Census
populationage18-64(millions)
2011: The Baby Boomers
reached retirement age
2030: Gen X reaches
retirement age
2018: Gen Y makes
up half of the working
age population
Dan’s
Turn
28. Talent as a Consumer
One Size Does Not Fit All
Each generation approaches work differently, shaped by the
economic, social and political forces of their time.
Source: Manpower#Jobvite13
29. Gen Y And Californians Changing Jobs Every
3 Years: That is 15-20 Jobs A Career
Source: www.fastcompany.com/magazine/162/average-time-spent-at-job-4-years
median tenure in current job:
U.S.4.4
yrs
Californians
...and Millennials
3.0yrs
30. Recruiting Is
Marketing
―The aim of marketing is to
know and understand the
customer so well that the
product or service fits him
and sells itself.‖
Peter Drucker, management
consultant, educator, and author
#Jobvite13
31. Recruiting Is Marketing:
The New Five P’s of Marketing
Product: Define Broadly Around Customer Experience
Price: Provide Competitive Value
Promotion: ROI-tracked Marketing Mix of
Media, Content, Message & Growing Brand
Placement: Many, Convenient and Inspiring Ways to Buy
Process: All Efforts Working As One Optimizing Funnel
#Jobvite13
32. Recruiting Is Marketing
Product
Price
Promotion
Placement
Process
Old School
Feature-Focused Definition
(Conjoint Analysis)
Suggested Price Lists
• Retail chains
• Sales channels
• Catalogs
• Partners
Brand, Advertising (Radio, TV,
Print), Mail, Catalogs
Quarterly reports, post-
mortem, new version launches
Today: Optimization
Customer-Experience Focused
Definition
Freemium, performance-
based, loyalty programs
Customer experience within:
• Retail store
• E-commerce
• Free-trials
• Customer service
Brand, SEO, Search Engine
Marketing, Content, Social
media, CRM
Real-time, data-driven optimization
of ―product-to-sale‖ funnel
Recruiting
Employee-experience
Focused Definition of role
Requirements, perks, flexibilit
y, benefits, compensation
Candidate experience within:
• Job Boards
• Career Sites
• Apply Process
• Interview Process
Recruitment
brand, culture, on-line
marketing mix for jobs &
careersite(s)
Real-time, data-driven
optimization of the
―opening-to-hire‖ funnel
33. Marketing Starts by Understanding Your Target
Like A Marketer Would: 80 Million Gen Y
Exercised vigorously in last 24 hours46%
Saw email usage drop in 201127%
Have a tattoo39%
Started a business on the side35%
Think helping the poor most important issue21%
#Jobvite13
34. #1 and #2 Product & Pricing: Design Roles
for Their Future, Not Just Yours
1. Explain Company Vision
2. Prioritize Community Service
3. Develop ―In-Between‖ Steps And Titles
4. Give Encouragement & Regular Feedback
5. Offer More Flexibility
6. Provide Education and Professional
Development
7. Give Them Time for Personal Projects
7 Ways Beyond Compensation To
Improve Job Attraction
• Gen Y are “Job Shoppers;” 88% are
looking to make a change
• Salaries guidepost for value and
staying on track, but NOT
differentiation
• 51% of new employees hired in
2012 have “buyers remorse”
Source: HBR: Blog Network: What Job Candidates Really Want: Meaningful Work
#Jobvite13
35. #3 Promotion: Big Brands, Especially Strong
Consumer Brands, Have Big Advantages
Top 5 of ―50 Top Employers for College Grads‖
#Jobvite13
36. #3 Promotion: Gen Y Wants Authentic
Brand Experiences
―Make Your Culture Your Brand‖ – Culture Is Emotional
Marketing Learning That Decisions Made By Lymbic (Lizard)
Brain…Focus Messaging & Promotion On Emotional Connection
Engagement Survey of Top Performers and Develop Value Statements
Mold All Marketing Messaging Around Effort
—Employee stories and testimonials
Successful If Portrayed Culture So That Best Candidates ―Select In‖
and Mismatched ―Select Out‖
Source: ERE Recruiting Conference 2013 by Randall Birkwood#Jobvite13
37. Have A Company Mission That Matters…And, It
Helps To Authentically Provide Social Good
#Jobvite13
42. #3 Promotion: Advertising & Distribution
Track All Advertising & Distribution
SEO: Jobs (and Content) Pages
Careersite Distribution & Promotion
Social and Employee Referral
#Jobvite13
43. Applications by Source Type 2013
Job Board
42.4%
Career Site
38.2%
Agency
2.2%
Employee
Referral
8.5%
Notifications /
Talent Pool
1.2%
Transfers
1.2%
Other
6.2%
• Career Site up by 6%
• Emp Referral up by 1.3%
• Transfers are significant
#Jobvite13
44. Hires by Source Type 2013
Job Board
17.1%
Career Site
21.0%
Agency
4.7%
Employee
Referral
40.4%
Notifications /
Talent Pool
0.4%
Transfers
7.1%
Other
9.3%
#Jobvite13
45. Faster hiring through employee referral 2013
Source: Jobvite
29
45
39
Emp Referral CareerSite Job boards
Employees hired through employee referral are
hired 55% faster than those who came through career site.
46% 45%
47%
33%
35%
39%
22%
20%
14%
Over 1 year Over 2 years Over 3 years
Hired Faster Better Quality
#Jobvite13
46. Half of Career site Visitors Do Not Return
One Time Visitors
49%Return Visitors
51%
#Jobvite13
47. Remarketing Is The Way Marketers Handle
Abandonment
Brand Site
Ad on another siteCustomer #Jobvite13
48. #4 Product Placement:
Many, Convenient, And Inspiring Ways to
Buy
1. Starts with Careersite: Easy to find, follow, and engaging
Prospect and Candidate Experience = Shopping Experience
(think Nike and Apple!)
#Jobvite13
58. 1.
Funnel / Lead Generation / Marketing Automation
#5 Process: All Efforts Work As One
Optimizing Funnel
1. Multi-Channel Multi-Media Campaigns
2. Provide Target Personalized Direct
Mail & Landing Pages
3. Lead Score
Hot, Warm, Cold
4. Marketing Automation
Next Automatic Event
-Send personalized email
-Send personalized product interest info
-Send e-newsletter
-Send personalized direct mailer
-Send personalized press release
-Send blog link
5. Measure, Adjust, Redo
59. #5 Process: Track and Measure Sourcing
Funnel
Employee Referrals
Campaigns
Overall
Talent Pool
60. #5 Process: Can’t Afford To Advertise Over
and Over…Must Build and Nurture A
Database of Prospects
#Jobvite13
61. Oakland A’s: Best Prospect Database and
Talent Acquisition Funnel In Baseball
#Jobvite13
2012 PWC Study60% of CEOs did not believe they had the talent they needed to be successfulOne in four had to delay or forgo market opportunities and strategic initiatives because they didn’t have the right talent.Consequences of a bad hire go beyond lost opportunitiesCombined cost of unanticipated turnover are 20 – 200% of the employees original salaryCompanies with high turnover – costs are equivalent to 40% of earnings
http://www.bls.gov/opub/mlr/2012/01/art1full.pdf – updated dataChanges since last BLS analysis through 2018:Doctoral up from 17%Masters up from 18%Assoc down from 19%Post secondary up from 13%Highlight growth from last data setGeorgetown Center on Education and the Workforce http://cew.georgetown.edu/ http://www9.georgetown.edu/grad/gppi/hpi/cew/pdfs/STEMWEBINAR.pdfTotal jobs: STEM occupations will grow from 6.8 million to 8 million total jobs by 2018. (18% growth)Job openings: STEM occupations will provide 2.4 million job openings through 2018, including 1.1 net new jobs and 1.3 replacement jobs due to retirement. Postsecondary education: 92% of STEM jobs will be for those with at least some postsecondary education and training. Equity: Diversion of women and minorities is compounded by other factors. For women and minorities, STEM is the best equal opportunity employer. Although pay gaps exist between minorities and Whites/Asians and women and men in STEM, they are smaller than in other occupations.
Social media, SEO, copywriting, email marketing, branding and events are all critical elements of the mix.
2012 PWC Study60% of CEOs did not believe they had the talent they needed to be successfulOne in four had to delay or forgo market opportunities and strategic initiatives because they didn’t have the right talent.Consequences of a bad hire go beyond lost opportunitiesCombined cost of unanticipated turnover are 20 – 200% of the employees original salaryCompanies with high turnover – costs are equivalent to 40% of earnings
Source:http://money.cnn.com/2010/07/29/news/international/china_engineering_grads.fortune/index.htm13% of Americans are foreign born (38 million people)…significantly greater than the 8.4% for other “rich” countriesForeign c:t rec’d 35% of doctoral degrees in US in 2006In science and tech 45%In engineering, nearly 66%½ plan to remain in the U.S.For decades, the U.S. had 25% of ALL the foreign students in the world…but in recent years has suddenly dropped to 18%, according to the Organization for Economic Co-Operation and Development.However,China is producing 400K college graduates in tech fields every year. (They will soon become the world’s largest english-speaking nation of more than 300 million.)Last spring the U.S. graduated about 8,000 Ph.D. engineers, an estimated two-thirds of whom are not U.S. citizens. About 150,000 students who majored in engineering, computer science, information technology, and math will collect bachelor's degrees. The Chinese government claims that in recent years the number in China has been well north of 500,000 and rising fast; even if overstated, as some believe, the real number is much larger than America's, and the quality of those graduates is improving.This could spiral downward. As math and science talent accumulates abroad, companies do more of their hiring there, reducing demand in the U.S. That's partly why undergraduate engineering majors are a shrinking proportion of the total, down from 6.8% to about 4.5% over the past 20 years. Employers then claim they can't find engineers in the U.S. -- so they have to hire abroad.The fastest-growing college majors in America as of 2007, says the U.S. Education Department, were parks, recreation, leisure, and fitness studies, as well as security and protective services. That's not a great omen for technology breakthroughs. If the next great technological advances in energy, the environment, medicine, and information are made elsewhere, American workers will have a much tougher time earning good pay in those key industries.
See arguments made in WFS generational work. Long-term demographic changes have paralleled long-term unemployment rate changes. Coincidence? Maybe, maybe not. It can certainly help to explain the shift in generational changes toward work.
http://www.fastcompany.com/magazine/162/average-time-spent-at-job-4-yearsForbes cites “Multiple Generations@Work” survey of 1.189 employees and 150 managers. This means millenials will hold 15-20 jobs over course of their career – NOT the 11.1 found for my generation – and the 4.4 of my father’s.
Social media, SEO, copywriting, email marketing, branding and events are all critical elements of the mix.
Most report being close to parentsMost report being in frequent technological contact with friends
DDI report of 2300 newly hired workers and 250 staffing directors in 28 countrieshttp://www.workforce.com/article/20130201/NEWS01/130209996/new-employees-we-were-jobbed-about-this-job
83%of recruiters think branding impacts their ability to land top prospects.Strong talent brand can reduce the cost per hire by 50% and reduce turnover by 28%Source: http://www.businessweek.com/bschools/content/may2011/bs20110511_024823.htm
DDI report of 2300 newly hired workers and 250 staffing directors in 28 countrieshttp://www.workforce.com/article/20130201/NEWS01/130209996/new-employees-we-were-jobbed-about-this-job