Tag Archives: Talent pipeline

Underutilized Recruitment Marketing Tactics

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A recent SmashFly publication, the SmashFly Recruitment Marketing Report Card for the 2016 Fortune 500, came across my desk a couple of weeks ago. And if you’re involved at all in recruiting talent, you’ll find it interesting.

It’s easy to assume that the Fortune 500 are among the most effective recruitment marketers out there. But if you made that assumption, you’d be wrong! This report card is pretty interesting. SmashFly, the recruitment marketing automation software company, has pulled together some fascinating information and graded some of the most well-known employers in the U.S. on their recruitment marketing. It’s pretty fascinating stuff.

In addition to grading each of the employers – by the way, only 4% of the 500 received an A! – this analysis also provides an abundance of good and best practice examples from some of the most admired companies around. The three categories that caught my attention were Best Practices, Emerging Practices, and Untapped Practices.

The Untapped (used by less than 20% of the Fortune 500) Practices are fascinating:

smashfly-1

SmashFly points out that 20% of the Fortune 500 send regular communication to leads – but only 1% send content other than job alerts. The opportunity to build lasting relationships by sending other types of content – like company news, employee stories, and other valuable subjects – exists for all employers. An obvious quick win would be to automatically send email reminders to candidates who haven’t completed their applications. This simple automated outreach can enable a 15% increase in job applications!

The opportunities for greater recruitment success seem obvious, and include some of these:

  • Fortune 500 employers are doing well with SEO, but 51% (!) don’t optimize their job landing pages
  • 48% of the Fortune 500 never send an email to leads in their database after the initial confirmation email
  • Referral calls-to-action on job descriptions are under-utilized, missing big opportunities to drive referrals from both employees and candidates
  • Only 14% of Fortune 500 employers have a blog or other resources about their application processes

Examples of effective recruitment branding from employers that are highlighted in the report include companies like Exxon Mobil, Intel, Lockheed Martin, Thermo Fisher Scientific, Pepsico, HP, Marriott International, and Comcast.

This report contains recommendations that you can begin to implement today to increase your recruitment marketing success. You may not have the budget of a Fortune 500 recruitment department, but you can certainly begin to adopt best and untapped practices to become more effective and to have a wider choice of talent.

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Filed under China Gorman, Data Point Tuesday, Fortune 500, Hiring, Recruiting, Recruitment Marketing, Smashfly, Talent pipeline

How Bad is Your Succession Management?

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84% of organizations report having a lack of candidates in the pipeline ready to assume open and critical positions.

That’s not good, folks. As we wring our hands on the lack of talent in the external pipeline, perhaps we should be spending more time attending to the skills and development of the folks already in the organization!

Laci Loew, Vice President and Principal Analyst at Brandon Hall Group, recently published their State of Succession Management 2015. If your organization is in the 84% of organizations above, this report will be helpful in laying out the challenge, what and how high performing organizations in this regard are executing differently, and how to think about the first steps of moving your succession planning needs forward. The report is a great read and has some pretty terrific content and data included.

This graph gives you a taste of what you can expect in terms of getting started as well as what successful outcomes are from both succession management and business focus perspectives.

Brandon Hall Succession Mgmt 1

The report outlines 7 critical findings of Brandon Hall’s research on this topic:

  1. Talent pipeline health continues to threaten leadership continuity.

  2. Succession management commitment is on the rise with prioritization for a formal strategy for all parts of the organization.

  3. Technology is under-utilized, hindering efficiency of succession management.

  4. Successor development as a critical component of succession management is improving.

  5. Lateral mobility takes center stage as a critical successor development strategy.

  6. Using predictive analytics to proactively plan for critical position vacancies will separate organizations with effective succession management from less effective organizations.

  7. Today’s succession management budgets are modest at best, but expected to expand significantly over the next 12 months.

The insights fleshed out in each of these key findings are critical reading for any talent management professional. And you’ll also get some useful data to use in building the ROI for succession management investment in next year’s budget.

The report is published by Skillsoft and can be accessed here. At 34 pages, this is a solid piece of analysis and a useful and highly practical read.

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Filed under Brandon Hall Group, China Gorman, Data Point Tuesday, Laci Loew, Skillsoft, Succession Planning, Talent Management, Talent pipeline

The best recruitment strategy? Being a Great Place to Work®!

Data Point Tuesday
A look at LinkedIn’s recently released “Talent Trends 2014” report provides some interesting data about what’s on the minds of today’s professional workforce. As the study confirms, we live in an age of unprecedented transparency: “More job opportunities are viewable online, and the available context – information on the company, its culture, and the team including the hiring manager – has never been richer.” LinkedIn’s platform itself proves this point, and this ever increasing transparency is certainly changing the landscape of talent acquisition. It asks to us to consider how the talent, people, are approaching and considering new careers. Perhaps one of the biggest changes has been a move towards proactively seeking the best talent for the position. LinkedIn’s 2014 report surveyed over 18,000 fully employed workers in 26 countries, to shed light on professional attitudes towards job seeking, job satisfaction and career evaluation.

The report dives into many areas of the professional workplace’s approach toward careers, one such area being the importance of talent brand to professionals. Globally, professionals agree that the most important factor in considering a new job is whether their prospective company is perceived as a great place to work or not. (And to be clear, LinkedIn’s definition of “great place to work” does not synch up completely with the Great Place to Work Institute’s definition.) When respondents of LinkedIn’s report were asked which of the following was most important if they were to consider a new job, 56% said “the company has a reputation as a great place to work”, while 20% said “the company has a reputation for great products and services”, 17% said “the company has a reputation for great people”, and 7% said “the company has a reputation for being prestigious.” When looking at countries where talent brand/being a great place to work is most (100%) and least (0%) important, the global average was 56%, with high outliers being Denmark at 62%, Brazil at 61%, and the U.S. at 60%. Low outliers included Japan at 39%, Turkey at 35%, and China at 33%.

Talent brand, which LinkedIn equates with being a great place to work, is clearly important to today’s labor pool when planning a career or a job change. This line of thought underscores why it’s more necessary than ever to communicate and share a corporate mission and values. People want their work to have meaning to them, to be “more than just a job.” They want to trust their leaders and have a sense of camaraderie or family with their co-workers. The majority of people surveyed in LinkedIn’s report (85% of active job seekers ad 90% of passive job seekers) responded that they are passionate about the work they do. Additionally, 85% of active and 91% of passive job seekers stated that they are constantly learning and growing at work, and 84% of active and passive job seekers reported that they are comfortable promoting themselves and their ideas at work.

Linkedin Talent Profile

The clear results of this data are that professionals today care deeply about their work, and want the companies they work for to support this passion. Being a great place to work is a strong factor in their search for new jobs and careers – and besides being a critical selection criteria, being a great place to work is an essential foundation for success in today’s talent acquisition and retention challenges.

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Filed under China Gorman, Data Point Tuesday, Great Place to Work, Great Place to Work Institute, Hiring, HR, Recruiting, Talent Acquisition

From the Archives: We can’t succeed without Millennials

This was a very popular post from April, 2012. The data is pretty much the same. And it bears repeating.

Managers and supervisors (especially in the Baby Boomer cohort) in almost every type and size of business have been known to lament the lack of loyalty and so-called business savvy in the Millennial generation.

  • “They want to be promoted too fast!”
  • “They don’t want to pay their dues!”
  • “They don’t understand how things work!”
  • “They want too much flexibility!”
  • “When things don’t go their way they quit!”
  • “Why won’t they stay?”

The bottom line is that organizations are finding it challenging to keep Millennials engaged and on the payroll.  In fact, with the average employment tenure of workers in the 20-24 year -old age group at 1.5 years (per the BLS), it’s challenging to keep all our employees engaged and the on the payroll.  (See my previous post on the Quits vs. Layoffs gap.  It might not be what you think!)

Achievers and Experience Inc. fielded their annual survey of graduating college students in January.  The data are eye opening.

Despite what we think we know about them, the vast majority of these about-to-enter-the-workforce Milllennials would really like to stay with their next (in most cases, first) employer for 5 years or longer!  Wait.  What?  Look at the chart below:

47% of the 8,000 college graduating respondents in the Achievers/Experience Inc. survey indicated that they expected to stay with their next employer five years or longer.  Note the language:  expect to stay not would like to stay!  That means when they join our organizations they have every expectation of making a career with us.  They’re not just accepting a job.  They’ve evaluated our EVP (Employer Value Proposition) as a match for the meaning they want to create in their lives through their work.  (Interesting to note that the biggest percentage of respondents expect to stay with their employer for 10+ years!)

So, OK.  This has got to be their youthful exuberance and relative inexperience speaking, right?  Well, I wonder if that really matters.

Employers need these Millennials.  Employers need these Millennials now.  Employers will need these Millennials more every day.  (See my recent post here.)

And employers need them to stay a whole lot longer than 1.5 years!

So what happens between “I expect to stay with my employer for 10 or more years…” and “…after one year with the organization I’m leaving for a better opportunity”?  I think we all know that answer to that question.

We don’t live up to the EVP we sold them.  We don’t engage Millennials the way they tell us they want to be engaged.  Instead, we…

  • make sure they fit into our existing career paths and job descriptions
  • focus on making sure they “pay their dues” – the way we did
  • keep our processes and rules rigid and unbending – and only pretend to listen when they offer up “different” ways of working
  • resist the notion that work can be done with excellence anywhere but in a cubicle
  • make it difficult for Millennials to interact with senior leaders
  • make it difficult for Millennials to collaborate with colleagues
  • designate social responsibility activities a perk instead of a foundational value
  • try to “lure” them to stay with tenure-based plaques and timepieces

These data are a wake-up call for employers.  It’s a message from our talent pipeline that they really do want to engage with us; they believe our employer brand marketing messages; they want to learn and grow with us.

It’s time to listen harder and make sure our employer brand messages aren’t experienced as bait and switch tactics.

I don’t know about you, but I’d hate for the Millennials to have such negative employment experiences at the beginning of their careers that they opt out of organizational life altogether before they’re 30.  We’d really be in a pickle then!

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Filed under Achievers, Baby Boomers, Bureau of Labor Statistics, Business Success, China Gorman, Demographics, Employment Data, Engagement, Millennials, Rewards & Recognition, Student Job Search, Talent pipeline, U.S. Department of Labor

High Cost of ‘Mal-employment’

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Professor Andrew Sum from the Center for Labor Market Studies at Northeastern University has done a great deal of research on the effect of the most recent recession on the youngest cohorts in our economy.  (I wrote about other of his research here.)

A recent CNNMoney article highlighted some interesting data from Dr. Sum’s most recent research efforts. And it has to do with the ability of recent college graduates to enter the economy in jobs that require their degrees.

Recent college gradsWith unemployment still above 7%, it’s not hard to understand that young people armed with a newly minted degree and little experience are having a hard time connecting to jobs. People with degrees and lots of experience are having a hard time connecting to jobs.

While we know that the data regarding the lifetime earnings differential for college graduates is a compelling argument for college attendance, the “mal-employment rate” together with the student debt-load most graduating college seniors are burdened with might be making young people have second thoughts about investing in a four year degree. And that’s bad news.

The Lumina Foundation tracks our progress towards attaining the national goal that 60% of Americans obtain a high-quality postsecondary degree or credential by 2025. And in 2011, the last year for which the data are complete, the percentage of Americans between the ages of 25 and 64 with two- or four- year college degrees was 38.7%. Our goal is 60%. Our current level is 38.7%. That’s really bad news.

Add to this the expectation that 65% of U.S. jobs will require some kind of postsecondary education by 2020 – and it’s really, really bad news.

These are difficult data points at the intersection of jobs, education and the talent pipeline. And they should be motivating us – all of us, in or out of HR – to think better about our workforce. Our organization’s workforce and our nation’s workforce.

Mal-employment might be the least of our worries in 2020.

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Filed under China Gorman, Data Point Tuesday, Education Deficit, Job Creation, Talent pipeline

Candidate Experience vs. the Black Hole

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A couple of months ago I shared some data from an Aberdeen Group report about benchmarking quality of hire best practices here. It’s a great benchmark list of outcomes.  But how about the inputs?

More specifically, in terms of quality of hire, how about benchmarking the quality of the candidate experience? Call me crazy, but it seems to me that a higher quality candidate experience translates into a higher quality of hire.

As background, The Talent Board was formed in January 2011 to assist recruiting organizations in understanding and evaluating the experiences of their candidates.

“While there is an inherent dissatisfaction that comes with rejecting employment candidates, the Talent Board believes that it is possible to:

  • Treat all employment candidates with professionalism and respect
  • Shrink the recruiting “blackhole” effect on candidates.”

The Talent Board founders, Gerry Crispin, Elaine Orler and Ed Newman and their colleagues have just produced the 2012 Candidate Experience report from their survey and awards program.   In its second year, the research was based on survey responses from 90 companies (up from 57 in 2011) and more than 17,500 completed candidate surveys (up from 11,500).

To be clear, that’s 17,500 candidates for employment answering questions about their experience as an applicant in four defined phases of the talent acquisition process:

  1. Candidate attraction
  2. Expression of interest
  3.  Candidate dispositioning before the finalist stage
  4. Candidate evaluation & selection

The report gives data from the employer questionnaire as well as from the candidate questionnaire.  As examples, here are two such questions.  Interesting to note the differences between employers and their candidates.

CandE Emp #34 Cand #20

But for most, the topic of most interest is the infamous “black hole” – that old familiar experience of applying for a job by filling out an application on line, attaching a resume to an online application or email, or using snail mail to send in a resume … and never getting a response.   Worse, the black hole could happen after a phone interview.  Or after a face-to-face interview.  At the entry level.  At the professional level.  At the executive level.  Yes the black hole is everywhere. In every industry, geography and size of company.  We’ve all experienced it. And we’ve all derived meaning from it.

The 90 employers that participated in the Candidate Experience Survey last year are paying attention to the black hole.  And while a boilerplate email message from a “do not reply” address notifying an applicant that they won’t be a candidate is only a smidge better than the black hole, bad communication is better than no communication and it’s a baby step in the right direction.  The report goes on to show guarded optimism that while some employers are beginning to provide feedback to disposed candidates when asked, not many are making it a standard practice.

But here’s the kicker:   fully one third of candidates from employers who care about the black hole were provided no specific feedback about their application. And nearly half received a standard email template with no specific information.

CandE Candidate Question #36

One third got no feedback. Zero. Zip. Nada. That’s a massive black hole, right there. And think what meaning is derived from it about the employer’s brand, culture, management, products and services. Connecting those dots isn’t hard.

So.  While a few employers are connecting the dots between quality of hire and quality of candidate experience, it’s clearly not enough.  If your organization is beginning to look at quality of hire metrics, don’t forget the candidate experience.  I’m not sure you can improve one without improving the other.

And check out the process for participating in the 2013 CandE Awards program.  You can’t improve future performance without a clear understanding of current performance.  That includes quality of hire – which surely includes the candidate experience.  Time to get rid of the black hole!

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Filed under Black Hole, CandE Awards, Candidate Experience, China Gorman, Connecting Dots, Data Point Tuesday, HR Data, Quality of Hire, Talent Acquisition, Talent pipeline, The Talent Board

From the Archives: Job security is the #1 talent attraction magnet. Wait. What?

This was originally published on April 17, 2012.  It’s worth repeating…

In doing some research for a speech I’m giving, I came across The Talent Management and Rewards Imperative for 2012 from Towers Watson and WorldatWork.  It’s chock full of interesting data based on the 2011/2012 Towers Watson North American Talent Management and Rewards Survey and an unpublished Towers Watson 2011 survey of over 10,000 full-time employees in North America on topics such as total rewards, communication and other work-related issues.  Because I’ve been looking at data about the state of the talent pipeline (see Data Points #3, #5, #6), I thought this would be interesting reading.  Little did I know!

A couple of the data points that stood out to me challenge the “conventional wisdom.”  See what you think:

  • Only 11% of organizations have trouble retaining employees generally
  • Fully 68% of organizations identify high potentials, but only 28% inform those employees who have been identified.
  • Organizations underestimate the effect work-related stress and work/life balance have on employee retention, and do not recognized the significance of job security in attracting top talent.

Wait.  What?

It’s the last point that brought me up short.  Look at the chart below.

There are important disconnects between what employees report will attract them into a new job and what employers believe will be important in attracting talent into their organizations.  And if you look at the differing views between employers and high potential performers you’ll be even more surprised.

In all of the writing on this topic that I have seen in the last 18 months, no one else reports the significant importance of job security as part of an organization’s EVP (employee value proposition).  And look how it ranks as #1 for all employees as well as high-potential employees.  #1.

Not meaningful work.  Not alignment with the organization’s mission.  Job security.  Am I the only one surprised by this finding?

Look at the disconnect between the top 5 factors for all employees and employers’ top 5 factors.  Outside of base pay it’s a total mismatch!

On the high-potential performers side, outside of base pay and career development opportunity it’s a total mismatch!

It looks like we’re totally out to lunch when it comes to knowing what’s motivating in terms of EVP and the talent pipeline.  Out. To. Lunch.

In a world that observes the incredible talent acquisition strategies and investments at organizations like Zappos, PepsiCo, Rackspace and AT&T, we’re encouraged to believe that creating cultures of happiness and engagement are what it takes to delight customers and retain employees – high potential or otherwise.  And I chose those organizations because I know the ground-breaking work each is doing in terms of building their talent communities and the engagement of their workforce.  They truly are ground breaking.

It turns out talent attraction may be a bit more mundane than “creating a little weirdness.”

It turns out that some of the basics like job security and base pay still hold huge sway in our workforce.  And I think this is good news.  It gives” regular” employers doing good work and being good to their employees a fighting chance to keep their employees and attract the talent they’ll need going forward.

Basic blocking and tackling.  Basic management competence.  Basic HR.  Can’t get away from them if you want your organization to succeed.

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Filed under AT&T, Business Success, Career Planning, China Gorman, Culture, Engagement, HR, Talent Management, Talent pipeline