At the ERE Innovation Summit held in October of 2011, Doug Berg, Chief Recruiting Geek of SuccessFactors (formerly Jobs2web) gave a talk about Measuring Your Apply Chain. In a world full of people chasing the next “shiny object”, this talk disrupted how Talent Acquisition leaders think about recruiting. Doug will be digging into this topic into great detail in a webinar on January 31 – Click here to be a part of it!
What is the Apply Chain?
The Apply Chain is a system of technology, activities, people and metrics that move a candidate to become an applicant. This can range from a candidate looking at your career site, to social media, to mobile recruiting, to email campaigns and job postings to name a few. There are a lot of moving parts to the apply chain and being efficient is important. In addition, the evolution of the recruiting marketplace moved from being Print based, to Requisition/Resume (aka Job Boards), to Search (think Google or a job aggregator like Indeed). Next, it’s going to a more Social/Relationship focus (Social Networks).
What’s wrong today?
Since there are many moving parts to the Apply Chain, it is very hard to measure what’s working and not working. In addition, there are so many new tools and websites popping up today. As a leader in Talent Acquisition, the challenge is how to take advantage and make them part of a cohesive strategy. Too many companies are buying tools that focus only on one thing and are not integrated into the other parts of their apply chain. Also, if your Apply Chain breaks down, what is your back-up plan?
How do we fix the Apply Chain?
First of all, you need a system in place that measures all areas of the Apply Chain real time so you know exactly where it breaks down. This system is known today as a Recruitment Marketing Platform. The goal here is to get to the next level of data which is not being provided by your Applicant Tracking System. Organizing data into intelligent Silos will allow an organization to better look at the effectiveness of each part of the Apply Chain. There should be a Cross Silo Tracking Platform in place so you can add Business Intelligence tools behind the scenes to interpret the data to make future strategy decisions. As we move forward, there will be a number of new Recruiting Metrics we will need to track in order to keep up with the war for talent.
On Tuesday, January 31, we will cover this and the Apply Chain and more - click here to join us!
Today, Jobs2web is proud to announce http://www.jobs2vets.com/; a job search tool specifically designed for Military Veterans. Jobs2vets will make over 150,000 jobs across Jobs2web’s clients easily accessible through a simple tool known as a Military Jobs Transcoder that matches the Veteran’s Military Occupational Classifications (MOC’s) to available jobs.
What makes Jobs2vets so different from other military jobs boards? One, Jobs2vets is not a profit making venture for Jobs2web. Veterans are free, pun intended, to use Jobs2vets and share with their friends while our clients gain another free source. Two, Jobs2vets is a standalone site. This makes it extremely easy to use and find; veterans do not have to sift through huge VA or Military.com directory’s to gain access to jobs. Additionally, veterans will not have to register to Jobs2vets and receive annoying e-mails; they can simply come, search, chose, and apply with no hassle. Third, Jobs2web scrapes it’s job content daily providing veterans with relevant up-to-date job content. Because Jobs2vets was built by vets, addressing veteran’s challenges in today’s job market was simple and made it much easier to build a viable site.
Visit http://www.jobs2vets.com/ today. And, thank you veterans!
Why You Need A Talent Supply Chain
Last week, we gave you the first dosage of why a Talent Supply Chain will make your CFO Salivate. Before we get into part 2, we’d like to invite you to join us on August 25 to learn more about this very topic. Click here to register!
Jobs2Web has been the market leader in helping our clients build their own proprietary talent communities and move towards Req-Less recruiting (click here to read more on this). Here’s the typical process a company goes thru to fill a job requisition:
- Create job req in the ATS
- Pay to post the job online (i.e. major job boards, niche boards, aggregators, etc.)
- Get 200 candidates to apply
- All passive candidates are not captured
- Review 10-15 qualified applications
- Hire 1 person
- Disposition all candidates off the req (one-time use of candidate)
- 3 months later, the same job comes available and you start the process from scratch
We call this the vicious cycle of recruiting. And this is the kind of workflow that doesn’t win over your CFO nor optimize your Time to Fill.
We believe the first step in your strategy should be to create your own Talent Community. This enables all of the passive candidates to give you their email and a “business card” of information about themselves, even if they aren’t ready to apply at the moment, so you can market future job openings to them. In addition, every first time applicant is added to your Talent Community. This way, you can remarket relevant jobs to applicants who didn’t complete the apply process or were not hired for that job to which they initially applied. With the Talent Community, you will know who the person is, what jobs they are interested in and where they reside.
Over time, Jobs2web clients build a very robust database of candidates in your Talent Community that will automatically be alerted about new relevant job opportunities without you or your recruiters having to initiate a posting or email manually. Our clients hit the tipping point where their own Talent Community drives more return visitors and applicants than any job board or other “external” media source—now you will now have a Talent Supply Chain which ultimately will reduce your Time to Fill.
Bottom Line Revenue Growth and Optimized Talent Supply Chain Go Hand in Hand
CFOs understand that delivering growth is a lot harder than cost-cutting in this environment, said Sanford Cockrell III, national managing partner, CFO Program, Deloitte LLP. And talent availability was a top-four concern among the Deloitte survey of 78 CFOs representing companies with more than $1 billion in annual revenues. Despite continued high unemployment levels, the elevated skill sets companies now require are not easy to find. Talent acquisition leaders have the opportunity like never before to measure, optimize and ultimately impact key financial and business drivers of their organizations.
CFOs Targeting Revenue Growth and Talent
In our brave new world, odds are that your company’s finance team is no longer just focused on cutting costs and managing risk. In fact, according to the 2011 Deloitte CFO Signals survey, finance leaders listed (1) delivering top line revenue growth and (2) acquiring and developing talent as among the top challenges facing their organizations.
Throughout the recent economic downturn, companies have been tightening their belts—but now CFOs are positioning their businesses for growth and increasing market share. And despite high and persisting unemployment, almost half of the CFOs surveyed said their companies are finding it more difficult to acquire sufficiently skilled employees than they did five years ago. C-level executives in general are realizing more than ever before how talent and revenue growth are directly linked—which means that recruiting leadership has incredible opportunity to drive high impact organizational value in a quantifiable way.
Talking CFO Language – Talent Supply Chain Metrics Linked to Corporate Growth
In many organizations, the efforts of the talent acquisition team may not be fully understood and appreciated by financial executives, especially during recessionary times. And given how modest most recruiting budgets are to begin with, reducing the recruiting and media budget by 10% during lean years probably doesn’t materially impact the overall corporate bottom line.
There are a number of metrics you may use or are considering that can begin to quantify meaningful improvements in your recruiting process. As you optimize your recruitment budget with data driven media spending (rather than simply “post and pray”), it is critical to be able to track increased applicant volume for key areas as well as improved cost per applicant numbers.
CFOs realize that everyone is trying to do more with less—so tracking improved recruiter efficiency can be another important measure. Quantifying your progress in this area is important in supporting your strategy of source optimization (reducing your apply to hire ratios) as well as automated job marketing.
While tracking optimized media and improved recruiter efficiency are very important metrics, reducing time to fill for critical positions as a key foundation for fueling corporate growth can be the most important measure of all. . Quantifying this impact can prove helpful not only in terms of your own planning but also in creating a metric that your financial leadership can appreciate.
Linking Time To Fill with Revenue Growth
We have to work hard to educate other executives about our talent acquisition investments and strategy. It is very important to connect key recruiting metrics with the business goals of the organization. Let’s walk through an example using Time To Fill (TTF) and how it impacts revenue growth.
There are different ways to quantify the impact of unfilled key jobs. One common, simple approach is to calculate average revenue or gross margin per employee and extrapolate the cost of unfilled jobs based on that average. While this is a great starting point, it fails to (1) segment key hard to fill categories, assumes all jobs are the same and (2) it understates the significant hindrance to company growth that key unfilled positions really represents. A more sophisticated approach would be to first identify your critical job categories and estimate the annual growth contribution per employee in that category. For example, if you consider key sales positions, you could use those annual expected sales per person (rather than overall revenue per employee) as the key driver of your TTF analysis. Other areas are potentially more difficult to quantify, such as engineering or product development jobs. But use the same thought process and come up with estimates of the annual “growth contribution” from each of your critical areas. Remember that every organization will be different but the average annual growth contribution for these critical job categories tends to range anywhere from $200,000 to $1,000,000+ per employee/job category.
Once you have your annual growth contribution segmented by key job category, you will need to measure or estimate your current time to fill (in days) for your organization as a baseline, with estimated adjustments per critical job category. Next you will input the projected number of annual hires per job category into your model and calculate the estimated total growth contribution per day for each job category, which will allow us to begin to quantify the cost for the organization for every day a job requisition goes unfilled.
Now you have a baseline—from which you can quantify the impact of unfilled key positions and measure the impact of every day you can reduce your time to fill.
Here is an example of the analysis, with an assumed reduction in Time to Fill of fifteen days.
Stay tuned, in next week’s post, we’ll share why you definitely need a talent supply chain.
Last week, 200 professionals in Recruiting, Talent Acquisition, Staffing and Sourcing all arrived in Minneapolis for 2 days of learning from their peers and experts in the industry about the latest innovations in Recruiting technology. Collaborate 2011 consisted of 53 Learning Sessions with speakers such as Jason Averbrook at Knowledge Infusion, Michael Marlatt - Recruiting Consultant and Mobile Evangelist, and Founder of mRecruitingcamp, Michael Long at Rackspace, Stacy Van Meter at Deluxe Corporation & Lou Adler from the Adler Group. In addition to the sessions, a Geek Bar was available where clients could leverage the Jobs2Web experts to get solution to their recruiting challenges.
Many people walked away with their heads spinning from the plethora of content. Some of the quotes were “Leaving feeling like I was at an amusement park, exhausted from all the exciting innovative content” and “Great networking & ideas around recruiting – information overload.”
So what made this a great conference? If you ask the attendees, they would say rich targeted content. Many walked away with actual “To Do” lists. Some of those lists contained action items for the client to perform. Others were joint action items for the client and their Jobs2Web Client Strategy Director or Client Manager.
I believe a great conference is one that gets you excited, one that leaves your head spinning with a number of new ideas and best of all one, one that allows you to walk away with an action plan! I see way too many people who attend conferences talk about the great ideas they learned, but then they never implement them. This year at Collaborate, we hosted a Client panel about their journey in implementing new ideas & technologies. These clients articulated where they started with Jobs2Web, why they decided to add a specific product or service – and how that paid off. Most importantly, we heard about what they learned and why you as a client should take a similar journey.
Thank you to everyone who helped make Collaborate 2011 such a success. We hope to see you next year at Collaborate 2012!
Pull out your smart phone now and scan the image below using a bar code reader application.
One of our clients, a fortune 500 restaurant chain, was looking to hire management level personnel for their stores. What they did was put posters on the front door of their restaurants in 2 major markets (Indianapolis & Chicago). These signs had some quick verbiage advertising Manager & Supervisor level jobs and in order to apply to scan the QR Code with their mobile device.
Scanning the QR code directs the candidate to a landing page with the opportunities listed for that store. Rather than fill out an entire application, the candidate simply joined the Talent Community via their mobile device, by filling in their contact information. The Talent Community then emailed a link to the jobs to the candidate so they could apply online via their computer at a more convenient time. Two great things happen here: The candidate took immediate action, and our client benefitted in capturing their contact info in lead form and were able to track the metrics.
For the months of January – April, 463 candidates in Indianapolis have scanned the QR Code. An amazing 146 joined the Talent Community which is a 32% conversion rate!! Not too shabby seeing that most Career Websites only have an 8% conversion rate.
For the months of January – April, the Chicago QR Codes have generated 724 candidate scans of which 192 or 27% went on to join the Talent Community!!
Do you know of other success stories involving QR codes & Recruiting? Keep your eye out for ways that they are being used!
In part 1 http://recruitinggeek.wordpress.com/2011/05/12/get-candidates-to-fall-in-love-with-you/ of this blog post, I covered the 5 of the 10 ways to get candidates to love you. Here is the 2nd part of this installment…enjoy!
Show candidates the jobs you hire for even if they are not open
If your company sells a product and you are currently out of stock, do you stop marketing that item or offering it to customers? NO!!!! It’s time for us in recruiting to do the same. Today, the only time most companies are marketing jobs is when they are open. Develop job profiles and put them on your career site. This keeps candidates interested in your organization and allows you to pipeline talent!
Make it easy for candidates to learn about your organization & roles
Most Career sites are updated every 6 months. This leads to old, stale content being used to entice your candidates to apply. Here are just a few ideas which you can deploy at little to no cost.
Video – “If a picture is worth a thousand words, then a video is worth a million.” You can use video to highlight your company culture, employee testimonials, video job descriptions and fun events.
Blog – Companies that blog in recruiting have increased the traffic to their Career site by 38%! There is no better way to keep your recruiting content fresh than that of a blog. Things to speak to are culture, events, projects, special initiatives, featured hiring managers, etc.
Facebook – Get the word out and have conversations. Let people ask questions, feature your special projects, contests & events, highlight new jobs, etc.
Career Site – Take a look at your Career site…is it lacking graphics? Video? Now take a look at what marketing has done with your website to sell your products or services. Much of that can be leveraged in recruiting…why reinvent the wheel when you can partner with marketing.
Career Chat – This is an interactive webinar featuring one of your employees speaking about themselves, projects they work on, culture, etc. This is a great way to allow your employees to sell candidates and for candidates can ask questions that may turn them from tire-kickers to action-takers.
Being in more channels makes your more visible
Why are Microsoft & Taco Bell are such recognized brands? Because everywhere you turn they are in front of you. Most companies I speak with only advertise jobs on their career site and a couple job boards. It’s time to identify where your key demographic of candidate is spending their time online and build a multi-channel strategy. Being in more places makes you more visible, relevant and increases your brand awareness. As the old saying goes, it’s a matter of being in the right place at the right time.
Candidate experience = Your Brand
Candidates who have a good experience interacting with your organization online are more likely to come back and refer their friends. Things to look for are…
- If I find your job, is it a 1 click apply process?
- Are there other actions I can take to engage with you besides applying for a job?
- Is your career site all about me the candidate, and not about you? (i.e. Candidates are busy and want to find a job that fits them and quickly apply…they won’t read about your benefits, culture, etc. until after they are selected for an interview)
- If I apply, will you keep in future contact with me? (This is what a Talent Community is for!)
Enable candidates to engage directly with recruiters
The biggest complaint amongst candidates is that applying to a job is a black hole. When I apply to your job, I have no idea who’s going to look at my resume, what the next steps are and in many cases I may not hear from you for weeks. Candidates are not able to connect with recruiters because they cannot find their contact information on your Career site. Why do we as companies hide our recruiters?! That’s like hiding our sales people from our clients or prospects. Let’s start by making it easy for candidates to connect with recruiters. Our clients create landing pages for the recruiters. These pages highlight what roles recruiter is responsible for, their contact information and ways for the candidate to connect with them with a click of a mouse. Don’t worry about your recruiters being bombarded by candidates…we have not seen this happen with our clients who have created “Recruiter Pages.” The advantages to you are happier more connected candidates and will turn “tire kickers” into “action takers.”
I always find it interesting when clients say, “We want to be on Twitter, Facebook, etc.” When I ask them why, the reasons vary : “Because our competitors are”, “My candidates are on these sites”, and “I want to enhance my branding” are all popular answers. Rather than belabor why you need to be on these sites or how to launch your strategy, I want to speak to you about how to get candidates to fall in love with you. These tools are a really a means to an end which is to…Acquire Talent!!
As your reading this, I imagine that your marketing department is cooking up new ways to win your customers’ hearts and minds, and thus turn them into raving fans of your company and brand. The strategies and solutions they are deploying can be used in recruiting. I’m going to cover this topic in depth and help you turn your candidates into raving fans of your organization. The best part is, many of the strategies I discuss can be deployed at minimal cost!
This blog is the subject of a webinar we are hosting on May 18th: 10 Ways to Get Candidates to Fall in Love with You. To Register, click here! https://www1.gotomeeting.com/register/830566784. Heres a sneak peak at what you’ll learn on the webinar:
Make it easy for candidate to apply to your jobs
This means both on and off your Career Site. I want you to go to your main careers home page and find & apply a job and count the clicks. Within 3 clicks candidates should be able to apply. Did this happen for you? Most likely, no. But if it did, congrats, you are half way there!
Next, go to where you post your jobs online (i.e. job boards, job aggregators, etc.). Find a job and see how many clicks it takes you to get to the screen in your ATS where you either login or start the application process. What was the process like? Did the job board make you give them your information before getting to your career site? If the process was less than desirable, think about how your candidate feels!
Stay tuned! My next blog will cover the remaining ways to get candidates to fall in love with you . To hear the rest sooner than later, register for the webinar. See you then!
Jobs2web, the leading provider of interactive recruiting solutions, today announced that its talent communities, hosted on behalf of its clients, have welcomed the 10 millionth member. This milestone was reached by a total count of the candidate members of the private talent communities that Jobs2web manages on behalf of its clients. The 10 millionth member mark was achieved by Jobs2web client Microsoft.
Read the full press release here! http://www.marketwire.com/press-release/Jobs2webs-Client-Talent-Communities-Top-10-Million-Members-1415347.htm
With the quickly changing world of online recruiting – I’m constantly asked questions about what new sites, technologies, and strategies should talent acquisition leaders be aware of, and how can you use them as a key part of your recruiting strategy.
Because the web 2.0 world is so fragmented and filled with techno speak (hence the term Recruiting Geeks) – most recruiting and HR leaders need an interpreter to help them connect the dots on all the shiny new tech toys that recruiters can utilize. The Recruiting Geeks blog will effort to be a blog for the most extreme techno-recruiters and for the newbie-recruiters trying to find their way.
While Jobs2Web works with over 100 major employers in helping them to build and power their interactive strategy, we are always called upon to look into the newest toys, and perform pilots on them to see if they yield desired results. Because of the Jobs2Web recruiting dashboard, we gain visibility to all of the results real-time to any online activity – which helps us to share which technologies go beyond cool, and actually produce results that justify energy and investment.
I won’t hesitate to share my views (good and bad) on changes that I see in the recruiting market, but will hopefully be a trusted source of new technologies and strategies that will help any/all recruiters leverage the exciting new resources available to us as the web continues to unfold.