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Keynote NYC: Rise of the Super Recruiter
Agenda
•  Job Market Update
•  Just-In-Time Economy
•  Tectonic Technology Trends
Impacting the Job Market
•  Talent Has New Standards
•  The Talent Funnel
Source: Tip Strategies, http://tipstrategies.com/geography-of-jobs/
The economy is back
01/07
4%
6%
8%
10%
01/08 01/09 01/10 01/11 01/12 01/13 01/14 01/15
Job growth has improved leaps and
bounds since the downturn of 2007
Unemployment
rates by education
Less than HS
4 year college degree
Overall
unemployment rate
01/08
10%
15%
20%
5%
01/09 01/10 01/11 01/12 01/13 01/14 01/1501/07
The U.S. has returned as a global force:
GDP outpaces other countries
Change in Rate of GDP growth
Jan-10
1
0
-2
-3
Sep-10 May-11 Jan-12 Sep-12 May-13 Jan-14 Sep-14
-1
2
3
4
5
United States China Europe
The U.S. market
is pulling ahead
towards energy
independence
Total energy production and
consumption projection
1980 1990 2000 2013 2020 2030 2040
0
60
70
80
90
100
110
History Projections2013
~~
Consumption
Production
Welcome to the fast-paced, ever-changing
just-in-time economy
Job openings and employment seasonally adjusted, in thousands
2,500
3,500
4,000
Jan 10Jan 09Jan 08Jan 07Jan 06Jan 05
3,000
2,000
4,500
5,000
5,500
Jan 11 Jan 12 Jan 13 Jan 14 Jan 15
130,000
134,000
136,000
132,000
128,000
138,000
140,000
142,000
Job openings Employment
Source: Bureau of Labor Statistics, Current Employment Statistics and Job Openings and Labor Turnover Survey, April 7, 2015.
Note: Shaded area represents recession as determined by the National Bureau of Economic Research (NBER)
Recession
Which has contributed to the
rise of the disposable worker
Breakdown of GPD decline during last five recessions
Source: US Bureau of Economic Analysis; McKinsey Global Institute
-0.65 -0.53 -0.45 -0.27 -0.70
2007-200920011990-19911981-19821973-1975
Employment
Productivity
In a just-in-time economy
layoffs happen as fast as hires
Job cuts in the tech sector rose 77% in 2014
*Source: Washington Post, http://www.washingtonpost.com/blogs/on-leadership/wp/2015/01/28/the-biggest-mass-layoffs-of-the-past-two-decades/
Source: Bureau of Labor Statistics, http://data.bls.gov/timeseries/JTS00000000LDR
cut 18,000+
employees in 2014
cut 16,000
employees in 2014
cut 6,000
employees in 2014
cut 2,000
employees in 2014
Source: Challenger, Grey, and Christmas, Inc., http://www.challengergray.com/press/press-releases/2014-year-end-ceo-report-107-ceo-exits-
december-highest-yearly-total-2008
Leadership comes and
goes in the blink of an eye
2014 saw the largest number
of CEO changes since 2008
Average tenure of a departing S&P 500
company CEO has decreased in recent from
roughly 10 years in 2000 to 8.1 years in 2012
Ideal tenure for a CEO is 4.8 years
2009	
   2010	
   2011	
   2012	
   2013	
  
1,500	
  
1,400	
  
1,300	
  
1,200	
  
1,100	
  
Number of CEO Changes	
  
?
Source:	
  ERE,	
  h-p://www.ere.net/2015/01/26/employers-­‐forecast-­‐to-­‐
increase-­‐use-­‐of-­‐temp-­‐agencies-­‐by-­‐10-­‐5/	
  
Source:	
  InsDtute	
  for	
  Study	
  of	
  Labor,	
  h-p://Gp.iza.org/dp5386.pdf	
  
And in this just-in-time economy,
“talent acquisition” is an oxymoron
46%
of employers will add
temp and contract
workers in 2015
+10%
Increase in temp
and contract hiring
over last year
135,000
new temp workers
in Q1 of 2015
the working age population is shrinking
driving a tightening of the market supply
Source: Deloitte Research, UN Population Division (http://esa.un.org/unpp/)
demographics (%)
200
100
0
-50
Mexico Brazil India China South
Korea
Australia Canada US Netherlands Spain France UK Russia Italy Japan Germany
1970 - 2010
2010 - 2050
PROBLEM 1:
SHRINKING
WORKFORCE
Source: Bureau of Labor StatisticsSource: Bureau of Labor Statistics
Less than High School 11%
High School 8%
Some College 11%
Associate Degree 18%
Bachelor’s Degree 12%
Master’s Degree 18%
Doctoral / Professional Degree 16%
jobs in future require education PROBLEM 2:
EDUCATION
% change employment 2012- 2022
Looking ahead, companies will face
stiff competition for top talent
Source: Bureau of Labor Statistics, http://www.bls.gov/careeroutlook/2014/spring/art01.pdf
2012
2022
Information
security analysts
75,100
102,500
36.48%
Operations
research analysts
73,200
92,700
26.64%
Statisticians
27,600
34,900
26.45%
24,600
Biomedical
engineers
19,400
26.80%
Actuaries
24,300
30,600
25.93%
Computer
systems
analysts
520,600
648,400
24.55%
Software developers,
applications
613,000
752,900
22.82%
Mathematicians
3,500
4,300
22.86%
Software
developers, systems
software
405,000
487,800
20.44%
Petroleum
engineers
38,500
48,400
25.71%% Increase
Source:	
  Brookings	
  InsDtute,	
  h-p://www.brookings.edu/research/interacDves/2014/job-­‐vacancies-­‐and-­‐stem-­‐skills#/M10420	
  
There is already a severe shortage for skilled talent.
That means companies face stiff competition
STEM
vacancies take
2x as long to
fill
STEM ads
last 50 days
4 million job
vacancies in
computer science
Source: The White House: https://www.whitehouse.gov/issues/technology/techhire
Obama’s tech
training initiative
Immigration reform
Policies are challenging the status quo of
the American economy and the job market
Welcome to the reality of the real-time economy
where technologies are redefining the
very nature of modern work
Transforming companies, industries
and the nature of work
Social
Big Data
Applying	
  Algorithm…	
  
IoTMobile
Source: Henry Siu and Nir Jaimovich for Third Way – WSJ.com
Jan	
  68	
  
Jan	
  70	
  
Jan	
  72	
  
Jan	
  74	
  
Jan	
  76	
  
Jan	
  78	
  
Jan	
  80	
  
Jan	
  82	
  
Jan	
  84	
  
Jan	
  86	
  
Jan	
  88	
  
Jan	
  90	
  
Jan	
  92	
  
Jan	
  94	
  
Jan	
  96	
  
Jan	
  98	
  
Jan	
  00	
  
Jan	
  02	
  
Jan	
  04	
  
Jan	
  06	
  
Jan	
  08	
  
Jan	
  10	
  
Jan	
  12	
  
Jan	
  14	
  
35%	
  
33%	
  
31%	
  
29%	
  
27%	
  
25%	
  
Recession	
  
It’s a two-tiered
labor market.
For many,
routine jobs
are being
eliminated
Share of the
population age 16
and over employed
in jobs that involve
primarily routine
tasks
doctoral degree
professional degree
master´s degree
bachelor´s degree
associate´s degree
some college, no degree
high school diploma
less than a high school diploma
all workers 5% all workers $839
unemployment
rate in 2014 (%)
2.1
1.9
2.8
3.5
4.5
6.0
6.0
9.0
median weekly
earnings in 2014 ($)
1,591
1,639
1,326
1,101
792
741
668
488
PROBLEM 3:
SHORTAGE OF
SKILLED
LABOR
“Net net”: We have a severe shortage in the skilled
labor market resulting in increased competition for
new hires
education pays
Note: Data are for persons age 25 and over. Earnings are for full-time wage and salary workers
Source: Bureau of Labor Statistics, Current Population Survey
on average, millennials will hold
15-20 jobs in their career
Source: www.fastcompany.com/magazine/162/average-time-spent-at-job-4-years
6.2
Number of jobs the
average millennial
holds between
18 and 26
3 yrsCalifornians
and
millennials
4.6 yrsin the U.S.
18 mostartup engineer
PROBLEM 4:
EMERGENCE
OF JOB
SHOPPERS
median tenure in current job:
Besides death and taxes…churn is the only
guarantee
Source: Quartz, http://qz.com/359578/more-americans-are-quitting-their-jobs-and-thats-a-good-thing/
Source: 2015 Job Seeker Nation Survey, http://www.jobvite.com/wp-content/uploads/2015/01/
jobvite_jobseeker_nation_2015.pdf
The US quit rate as a percentage of the labor force
2.8%
2.6
2.4
2.2
2.0
1.8
1.6
1.4
1.2
‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15
and this comes with new standards
We are living working and interacting in a new, real-time world 	
  
A new standard
Employees are in
the driver’s seat
Skilled workers have options.
What are you doing to compete?
61%
Compensation
21%
Company Culture
35%
Growth
Opportunities
38%
Work/Life Balance
Source: http://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf
59%
Modern Technology
A new standardA new standard
Compensation is expected to
align with market value
We expect more from
technology at home and in the
workplace
A new standard
A new standard
Work is an extension
of life and vice versa
Coursera has partnered with
companies to create employee
training and development programs.
A new standard
Source: Forbes: http://www.forbes.com/sites/georgeanders/2014/08/20/courseras-new-goal-teaching-at-firms-such-as-mastercard/
Learning is a lifelong pursuit
LinkedIn acquired Lynda.com
Stan Slap
Brand Strategist and CEO of Slap
You don't have to fear your
own company being
perceived as human. You
want it. People don't trust
companies; they trust people
”
“
A new standard
Values are essential
”Millenials believe the business ethos has too short-term a focus. Beyond that, millennials believe companies
should spend less time on short-time roles and more time on broadly building contributions to society, more
time focusing on their people,” Deloitte Global Chairman Steve Almond
What does it take to thrive
in a real-time economy?
talent
revenue
Continuously finding the best people
you possibly can for today – and tomorrow…
“You must build talent for the digital organization of 2020 NOW. Not
just the digital technology organization, but the whole enterprise.”
Gartner Top 10 Strategic Predictions for 2015 and Beyond: Digital Business Is Driving 'Big Change' Published: 4 October 2014
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
A never-
ending
recruiting
pipeline is
needed now
for tomorrow!
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
Employment Brand	
  
	
  x	
  
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
Sourcing
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
Candidate Experience
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
Candidate Selection
Candidate Centric
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
Candidate Selection
Candidate Centric
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
InsightInsight
shifting
beneath our feet
The world is 	
  
real-time economy
Connectivity and immediacy
affecting how we work,
how we live and how we think
It’s up
to you
HR FUNCTION OR
PROCESS
PROFIT
GROWTH
PROFIT
MARGIN
TOTAL
IMPROVEMENT
Recruiting 3.5x 2.0x 5.5
On-boarding and retention 2.5x 1.9x 4.4
Managing talent 2.2x 1.9x 4.4
Employer branding 2.4x 2.1x 4.3
Performance management
and rewards
2.1x 2.0x 4.1
Developing leadership 2.1x 1.8x 3.9
Mastering HR process 1.8 1.8 3.6
Global people
management and global
expansion
1.8 1.7 3.5
Enchancing employee
engagement
1.8 1.6 3.4
Providing shared services
and outsourcing
1.6 1.7 3.3
Recruiting is the most
critical HR function
delivering 40% more
profit growth than
next HR function
Source: Boston Consulting Group, “Realizing the Value of People Management; From Capability to Profitability”,
August 2, 2012
You & Jobvite
are working hard…and it’s working!
42
You & Jobvite
are working hard…and it’s working!
35%
of U.S. Job
Seekers use
Jobvite
Millions
of Candidate
referrals
Visitors from
202
Countries
Growing
Databases of
Prospects
and Job
Seekers
Faster time
to hire than
the industry
standard
to support you
We are committed
every step of the way
Employment Brand	
  
Sourcing
Candidate Experience
Candidate Selection
Insight
Keynote NYC: Rise of the Super Recruiter

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Keynote NYC: Rise of the Super Recruiter

  • 2. Agenda •  Job Market Update •  Just-In-Time Economy •  Tectonic Technology Trends Impacting the Job Market •  Talent Has New Standards •  The Talent Funnel
  • 3. Source: Tip Strategies, http://tipstrategies.com/geography-of-jobs/ The economy is back
  • 4. 01/07 4% 6% 8% 10% 01/08 01/09 01/10 01/11 01/12 01/13 01/14 01/15 Job growth has improved leaps and bounds since the downturn of 2007 Unemployment rates by education Less than HS 4 year college degree Overall unemployment rate 01/08 10% 15% 20% 5% 01/09 01/10 01/11 01/12 01/13 01/14 01/1501/07
  • 5. The U.S. has returned as a global force: GDP outpaces other countries Change in Rate of GDP growth Jan-10 1 0 -2 -3 Sep-10 May-11 Jan-12 Sep-12 May-13 Jan-14 Sep-14 -1 2 3 4 5 United States China Europe
  • 6. The U.S. market is pulling ahead towards energy independence Total energy production and consumption projection 1980 1990 2000 2013 2020 2030 2040 0 60 70 80 90 100 110 History Projections2013 ~~ Consumption Production
  • 7. Welcome to the fast-paced, ever-changing just-in-time economy Job openings and employment seasonally adjusted, in thousands 2,500 3,500 4,000 Jan 10Jan 09Jan 08Jan 07Jan 06Jan 05 3,000 2,000 4,500 5,000 5,500 Jan 11 Jan 12 Jan 13 Jan 14 Jan 15 130,000 134,000 136,000 132,000 128,000 138,000 140,000 142,000 Job openings Employment Source: Bureau of Labor Statistics, Current Employment Statistics and Job Openings and Labor Turnover Survey, April 7, 2015. Note: Shaded area represents recession as determined by the National Bureau of Economic Research (NBER) Recession
  • 8. Which has contributed to the rise of the disposable worker Breakdown of GPD decline during last five recessions Source: US Bureau of Economic Analysis; McKinsey Global Institute -0.65 -0.53 -0.45 -0.27 -0.70 2007-200920011990-19911981-19821973-1975 Employment Productivity
  • 9. In a just-in-time economy layoffs happen as fast as hires Job cuts in the tech sector rose 77% in 2014 *Source: Washington Post, http://www.washingtonpost.com/blogs/on-leadership/wp/2015/01/28/the-biggest-mass-layoffs-of-the-past-two-decades/ Source: Bureau of Labor Statistics, http://data.bls.gov/timeseries/JTS00000000LDR cut 18,000+ employees in 2014 cut 16,000 employees in 2014 cut 6,000 employees in 2014 cut 2,000 employees in 2014
  • 10. Source: Challenger, Grey, and Christmas, Inc., http://www.challengergray.com/press/press-releases/2014-year-end-ceo-report-107-ceo-exits- december-highest-yearly-total-2008 Leadership comes and goes in the blink of an eye 2014 saw the largest number of CEO changes since 2008 Average tenure of a departing S&P 500 company CEO has decreased in recent from roughly 10 years in 2000 to 8.1 years in 2012 Ideal tenure for a CEO is 4.8 years 2009   2010   2011   2012   2013   1,500   1,400   1,300   1,200   1,100   Number of CEO Changes   ?
  • 11. Source:  ERE,  h-p://www.ere.net/2015/01/26/employers-­‐forecast-­‐to-­‐ increase-­‐use-­‐of-­‐temp-­‐agencies-­‐by-­‐10-­‐5/   Source:  InsDtute  for  Study  of  Labor,  h-p://Gp.iza.org/dp5386.pdf   And in this just-in-time economy, “talent acquisition” is an oxymoron 46% of employers will add temp and contract workers in 2015 +10% Increase in temp and contract hiring over last year 135,000 new temp workers in Q1 of 2015
  • 12. the working age population is shrinking driving a tightening of the market supply Source: Deloitte Research, UN Population Division (http://esa.un.org/unpp/) demographics (%) 200 100 0 -50 Mexico Brazil India China South Korea Australia Canada US Netherlands Spain France UK Russia Italy Japan Germany 1970 - 2010 2010 - 2050 PROBLEM 1: SHRINKING WORKFORCE
  • 13. Source: Bureau of Labor StatisticsSource: Bureau of Labor Statistics Less than High School 11% High School 8% Some College 11% Associate Degree 18% Bachelor’s Degree 12% Master’s Degree 18% Doctoral / Professional Degree 16% jobs in future require education PROBLEM 2: EDUCATION % change employment 2012- 2022
  • 14. Looking ahead, companies will face stiff competition for top talent Source: Bureau of Labor Statistics, http://www.bls.gov/careeroutlook/2014/spring/art01.pdf 2012 2022 Information security analysts 75,100 102,500 36.48% Operations research analysts 73,200 92,700 26.64% Statisticians 27,600 34,900 26.45% 24,600 Biomedical engineers 19,400 26.80% Actuaries 24,300 30,600 25.93% Computer systems analysts 520,600 648,400 24.55% Software developers, applications 613,000 752,900 22.82% Mathematicians 3,500 4,300 22.86% Software developers, systems software 405,000 487,800 20.44% Petroleum engineers 38,500 48,400 25.71%% Increase
  • 15. Source:  Brookings  InsDtute,  h-p://www.brookings.edu/research/interacDves/2014/job-­‐vacancies-­‐and-­‐stem-­‐skills#/M10420   There is already a severe shortage for skilled talent. That means companies face stiff competition STEM vacancies take 2x as long to fill STEM ads last 50 days 4 million job vacancies in computer science
  • 16. Source: The White House: https://www.whitehouse.gov/issues/technology/techhire Obama’s tech training initiative Immigration reform Policies are challenging the status quo of the American economy and the job market
  • 17. Welcome to the reality of the real-time economy where technologies are redefining the very nature of modern work Transforming companies, industries and the nature of work Social Big Data Applying  Algorithm…   IoTMobile
  • 18. Source: Henry Siu and Nir Jaimovich for Third Way – WSJ.com Jan  68   Jan  70   Jan  72   Jan  74   Jan  76   Jan  78   Jan  80   Jan  82   Jan  84   Jan  86   Jan  88   Jan  90   Jan  92   Jan  94   Jan  96   Jan  98   Jan  00   Jan  02   Jan  04   Jan  06   Jan  08   Jan  10   Jan  12   Jan  14   35%   33%   31%   29%   27%   25%   Recession   It’s a two-tiered labor market. For many, routine jobs are being eliminated Share of the population age 16 and over employed in jobs that involve primarily routine tasks
  • 19. doctoral degree professional degree master´s degree bachelor´s degree associate´s degree some college, no degree high school diploma less than a high school diploma all workers 5% all workers $839 unemployment rate in 2014 (%) 2.1 1.9 2.8 3.5 4.5 6.0 6.0 9.0 median weekly earnings in 2014 ($) 1,591 1,639 1,326 1,101 792 741 668 488 PROBLEM 3: SHORTAGE OF SKILLED LABOR “Net net”: We have a severe shortage in the skilled labor market resulting in increased competition for new hires education pays Note: Data are for persons age 25 and over. Earnings are for full-time wage and salary workers Source: Bureau of Labor Statistics, Current Population Survey
  • 20. on average, millennials will hold 15-20 jobs in their career Source: www.fastcompany.com/magazine/162/average-time-spent-at-job-4-years 6.2 Number of jobs the average millennial holds between 18 and 26 3 yrsCalifornians and millennials 4.6 yrsin the U.S. 18 mostartup engineer PROBLEM 4: EMERGENCE OF JOB SHOPPERS median tenure in current job:
  • 21. Besides death and taxes…churn is the only guarantee Source: Quartz, http://qz.com/359578/more-americans-are-quitting-their-jobs-and-thats-a-good-thing/ Source: 2015 Job Seeker Nation Survey, http://www.jobvite.com/wp-content/uploads/2015/01/ jobvite_jobseeker_nation_2015.pdf The US quit rate as a percentage of the labor force 2.8% 2.6 2.4 2.2 2.0 1.8 1.6 1.4 1.2 ‘01 ‘02 ‘03 ‘04 ‘05 ‘06 ‘07 ‘08 ‘09 ‘10 ‘11 ‘12 ‘13 ‘14 ‘15
  • 22. and this comes with new standards We are living working and interacting in a new, real-time world  
  • 23. A new standard Employees are in the driver’s seat Skilled workers have options. What are you doing to compete? 61% Compensation 21% Company Culture 35% Growth Opportunities 38% Work/Life Balance Source: http://www.pwc.com/gx/en/managing-tomorrows-people/future-of-work/assets/reshaping-the-workplace.pdf 59% Modern Technology
  • 24. A new standardA new standard Compensation is expected to align with market value
  • 25. We expect more from technology at home and in the workplace A new standard
  • 26. A new standard Work is an extension of life and vice versa
  • 27. Coursera has partnered with companies to create employee training and development programs. A new standard Source: Forbes: http://www.forbes.com/sites/georgeanders/2014/08/20/courseras-new-goal-teaching-at-firms-such-as-mastercard/ Learning is a lifelong pursuit LinkedIn acquired Lynda.com
  • 28. Stan Slap Brand Strategist and CEO of Slap You don't have to fear your own company being perceived as human. You want it. People don't trust companies; they trust people ” “ A new standard Values are essential ”Millenials believe the business ethos has too short-term a focus. Beyond that, millennials believe companies should spend less time on short-time roles and more time on broadly building contributions to society, more time focusing on their people,” Deloitte Global Chairman Steve Almond
  • 29. What does it take to thrive in a real-time economy? talent revenue
  • 30. Continuously finding the best people you possibly can for today – and tomorrow… “You must build talent for the digital organization of 2020 NOW. Not just the digital technology organization, but the whole enterprise.” Gartner Top 10 Strategic Predictions for 2015 and Beyond: Digital Business Is Driving 'Big Change' Published: 4 October 2014
  • 31. Employment Brand   Sourcing Candidate Experience Candidate Selection Insight A never- ending recruiting pipeline is needed now for tomorrow!
  • 32. Employment Brand   Sourcing Candidate Experience Candidate Selection Insight Employment Brand    x  
  • 33. Employment Brand   Sourcing Candidate Experience Candidate Selection Insight Sourcing
  • 34. Employment Brand   Sourcing Candidate Experience Candidate Selection Insight Candidate Experience
  • 35. Employment Brand   Sourcing Candidate Experience Candidate Selection Insight Candidate Selection Candidate Centric
  • 36. Employment Brand   Sourcing Candidate Experience Candidate Selection Insight Candidate Selection Candidate Centric
  • 37. Employment Brand   Sourcing Candidate Experience Candidate Selection InsightInsight
  • 39. real-time economy Connectivity and immediacy affecting how we work, how we live and how we think
  • 41. HR FUNCTION OR PROCESS PROFIT GROWTH PROFIT MARGIN TOTAL IMPROVEMENT Recruiting 3.5x 2.0x 5.5 On-boarding and retention 2.5x 1.9x 4.4 Managing talent 2.2x 1.9x 4.4 Employer branding 2.4x 2.1x 4.3 Performance management and rewards 2.1x 2.0x 4.1 Developing leadership 2.1x 1.8x 3.9 Mastering HR process 1.8 1.8 3.6 Global people management and global expansion 1.8 1.7 3.5 Enchancing employee engagement 1.8 1.6 3.4 Providing shared services and outsourcing 1.6 1.7 3.3 Recruiting is the most critical HR function delivering 40% more profit growth than next HR function Source: Boston Consulting Group, “Realizing the Value of People Management; From Capability to Profitability”, August 2, 2012
  • 42. You & Jobvite are working hard…and it’s working! 42
  • 43. You & Jobvite are working hard…and it’s working! 35% of U.S. Job Seekers use Jobvite Millions of Candidate referrals Visitors from 202 Countries Growing Databases of Prospects and Job Seekers Faster time to hire than the industry standard
  • 44. to support you We are committed every step of the way Employment Brand   Sourcing Candidate Experience Candidate Selection Insight