LinkedIn, Microsoft and the Explosion in Recruiting Tools and Technology
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The last 5 years has seen an explosion in new technology and tools in talent acquisition. Hundreds of companies have been funded, some have been acquired, and many more will go out of business. Against this noise we’ve just seen one of the biggest corporate M&A deals in history, with Microsoft entering the space to acquire LinkedIn. In this session we’ll make sense of a few key themes from the craziness of the past few years, and explore how the LinkedIn-Microsoft deal could be a watershed moment for recruiting technology. This was a presentation to the Northern California HR Association, HR TechXpo in August 2016
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LinkedIn, Microsoft and the Explosion in Recruiting Tools and Technology
- 1. LINKEDIN, MICROSOFT AND THE EXPLOSION OF RECRUITING TOOLS AND TECHNOLOGIES Michael Overell – CEO, RecruitLoop August, 2016
- 3. A framework to navigate the recruitment tech explosion Implications for HR practitioners Specific technology advice for your business
- 4. 4 Hi, I’m Michael Overell CEO & Cofounder of RecruitLoop Former McKinsey consultant Husband of an HR Director Australian in the Bay Area @mboverell // michael@recruitloop.com
- 5. 2016
- 6. $26,000,000,000 Biggest acquisition in history of HR Technology.
- 7. “using the network to power the social and identity layers of Microsoft's ecosystem of over one billion customers. Think about things like LinkedIn's graph interwoven throughout Outlook, Calendar, Office…and more.” https://www.linkedin.com/pulse/linkedin-microsoft-changing-way-world-works-jeff-weiner
- 8. “partnering with Microsoft to innovate on solutions within the enterprise that are ripest for disruption, e.g., the corporate directory, company news dissemination, collaboration, productivity tools, distribution of business intelligence and employee voice, etc.” https://www.linkedin.com/pulse/linkedin-microsoft-changing-way-world-works-jeff-weiner
- 9. “Expanding beyond recruiting and learning & development to create value for any part of an organization involved with hiring, managing, motivating or leading employees. This human capital area is a massive business opportunity and an entirely new one for Microsoft.” https://www.linkedin.com/pulse/linkedin-microsoft-changing-way-world-works-jeff-weiner
- 10. http://www.monster.com/about/a/randstad-to-acquire-monster-worldwide-to-transform-the-way-people-and-jobs-connect “…Randstad intends to build the world's most comprehensive portfolio of HR services. ”
- 11. OTHER PLAYERS ON THE SIDELINES
- 15. WHAT IT MEANS FOR PRACTIONERS
- 16. Be agile and open to new technologies Be sceptical of the ‘next big thing’ Be cautious of unproven products DO Be overly reliant on ANY tools Get drowned on the noise DON’T
- 18. Identify the stages in YOUR process Break down the activities in each stage Identify the owner and success metrics Then follow it!
- 19. Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7
- 20. Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 UNDERSTAND MARKET BUILD TARGET PROFILE SOURCE CANDIDATES OUTREACH & ENGAGEMENT SCREENING & INTERVIEW VERIFY SKILLS & EXPERIENCE OFFER & ONBOARD
- 21. Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 UNDERSTAND MARKET BUILD TARGET PROFILE SOURCE CANDIDATES OUTREACH & ENGAGEMENT SCREENING & INTERVIEW VERIFY SKILLS & EXPERIENCE OFFER & ONBOARD Activities Owner Tools
- 22. Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 UNDERSTAND MARKET BUILD TARGET PROFILE SOURCE CANDIDATES OUTREACH & ENGAGEMENT SCREENING & INTERVIEW VERIFY SKILLS & EXPERIENCE OFFER & ONBOARD Activities Owner Tools • Research salary and title • Compare job description • Outline key skills, characteristics and traits • Job posting • List building • Finding contact information • 3-email sequence • Phone screen • On-site interviews • CEO dinner • Trial project • Background check • Reference check • Offer letter • Welcome pack
- 24. A framework for assessing new tools and technologies
- 26. Stage 1 Stage 2 Stage 3 Stage 4 Stage 5 Stage 6 Stage 7 UNDERSTAND MARKET BUILD TARGET PROFILE SOURCE CANDIDATES OUTREACH & ENGAGEMENT SCREENING & INTERVIEW VERIFY SKILLS & EXPERIENCE OFFER & ONBOARD Activities Owner Tools • Research salary and title • Compare job description • Outline key skills, characteristics and traits • Job posting • List building • Finding contact information • 3-email sequence • Phone screen • On-site interviews • CEO dinner • Trial project • Background check • Reference check • Offer letter • Welcome pack Your Recruitment ‘Stack’
- 27. Free download: bit.ly/nchra-RL Agile Technology Guide for Modern Recruiters
- 28. 3 spaces I’m watching Sourcing Systems Staffing
- 29. 29 Questions? Michael Overell CEO & Cofounder of RecruitLoop @mboverell michael@recruitloop.com
Notas del editor
- So it’s been an interesting year in HR Tech.
- IT’S BEEN BANANAS Have you been paying attention? LinkedIn acquired Monster acquired Coming off the back of 5 years of explosive growth in new tech and tools An exciting time for sure. But more challenging than ever to cut through the noise. Do you know how this will impact your role in HR or TA?
- Unfortunately, I’ll be making no predictions. I will not be providing specific tech advice for your business. But I will: Share a framework for navigating the explosion in new tools and tech You will have more confidence making technology decisions for your business.
- Who am I and why should you care Not a recruiter or HR practitioner I do have a horse in this race RecruitLoop – - deep in industry for 6 years McKinsey – Married to HR –
- I’m here today because… 2016 is a watershed. Biggest year in HR tech. Who has used one of these tools in the past 12mths? 2 of these tools All of these tools... We will look back on 2016 as End of the pure play job board End of an era for most important company in HR technology of the last decade Start with a top down down approach.
- Overlay LinkedIn profile and social graph with tools you use every day at work. Imagine Microsoft can tell you’re struggling with a spreadsheet, and Uses AI to automatically connect you with a freelance analyst ready to help
- Imagine A version of your LI profile as an internal company directory Verified skills, recommendations for projects
- Imagine The capability of Microsoft now focused on human capital. The elephant has turned its head. This to me is the biggest potential.
- Randstad – market cap = <$10B
- Really big dogs sitting on the sidelines
- Left side: All took a look at LinkedIn They have aspirations Middle: Have all made acquisitions north of $1B in HR tech Legacy platforms. Right side: Future IPOs and disruptors? All in the range of $500M+
- That’s top down view. What about the ground level? Nearly 400 HR Tech startups received investment in 2015. An explosion of new tools and technology. You can feel it At conferences like this In your inbox Most of them – point solutions to address very specific challenge.