SlideShare a Scribd company logo

What the Best Hires Have in Common | Webcast

•Download as PPTX, PDF•
•
LinkedIn Talent Solutions
LinkedIn Talent Solutions

Learn how to define (and improve!) the quality of hire in this webcast. Click through to see the shift from taking job orders to influencing hiring needs and identify selection strategies that provide top-quality hires in today's new work environment. Learn more about LinkedIn Talent Solutions: http://linkd.in/1bgERGj Subscribe to the LinkedIn Talent Blog: http://linkd.in/18yp4Cg Follow the LinkedIn Talent Solutions page: http://linkd.in/1cNvIFT Tweet with us: http://bit.ly/HireOnLinkedIn

1 of 26
What the Best Hires Have in Common How to Define (and Improve) Quality of Hire
What Is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 6 #HiretoWin
Top Three Metrics Used to Track Quality of Hire Percentage of Talent Acquisition Professionals Turnover/ Retention 50 56 53 49 41 51 New Hire Performance Evaluation 44 46 46 Hiring Manager Satisfaction Global North America Asia Pacific WHAT METRICS DOES YOUR ORGANIZATION USE TO TRACK QUALITY OF HIRE? 8 #HiretoWin n = 3,379. Source: LinkedIn, Global Recruiting Trends, 2013.
New Hire Underperformance Source: CEB, Global Labor Market Survey, Q4 2012. new hires are “bad” or have “regretted decisions”, according to hiring managers on their team 1 in 5 Turnover Costs 1 Per 1,000 hires due to new hire turnover. $1.6M in rework costs incurred by Recruiting1 New Hire Turnover Source: CEB, Turnover Benchmarking Database, 2013. 23% among employees with tenure of one year or less TOO MANY REGRETTED HIRING DECISIONS 9 #HiretoWin
Teams Job Levels Job Locations 67 66 63 57 Functions 50% NEW HIRES FACING MORE INTERDEPENDENT WORK Cross-Silo Coordination Percentage of Employees Who Regularly Coordinate with People in Different… 10 #HiretoWin in Reliance on Others to Get Work Done in How Dispersed Workforces Are Across the Globe of Employees Report Working with 20+ People in Their Day-to-Day Jobs 57% 30% n = 23,339. Source: CEB, High Performance Survey, 2013.
+ = Individual Task Performance Employee’s effectiveness at achieving his or her individual tasks and assignments Network Performance Employee’s effectiveness at improving others’ performance and using others’ contributions to improve his or her own performance Enterprise Contribution Employee’s effectiveness at his or her individual tasks, contribution to others’ performance, and use of others’ contributions to improve his or her own performance Up to 12% improvement in profit CEB’s Model of High Performance A NEW TYPE OF HIGH PERFORMER 11 #HiretoWin
Conventional Definition of Quality of Hire A new hire’s current effectiveness at completing his or her individual task CEB’s 2013 Quality of Hire Definition1 A new hire’s current and likely future effectiveness at completing his or her individual tasks, contributing to others’ performance, and using others’ contributions to improve his or her own performance 1 As rated by hiring managers. HOW DO WE ACHIEVE HIGHER QUALITY HIRES FOR TODAY’S NEW WORK ENVIRONMENT? 12 #HiretoWin
Recruiters 1. Technical skills 2. Culture fit 3. Communication skills 4. Previous work experience 5. Interpersonal skills n = 214 Talent Acquisition Professionals in the Technology sector located in US, Canada, UK, and Australia. Source: LinkedIn, Global Recruiting Trends, 2013. Hiring Managers 1. Problem solving skills 2. Technical skills 3. Communication skills 4. Work ethic 5. Agility/adaptability vs. n = 395 Technical Hiring Managers in the Software industry located in US. Source: LinkedIn, Quality of Hire Research, 2013. What characteristic is most predictive of a new hire’s success within the organization? THINK LIKE A HIRING MANAGER 13 #HiretoWin
48% 52% Ability New hire’s level of attainment of knowledge and skills Fit The relationship between new hire and his or her colleagues and organization Relative Impact on Quality of Hire FOCUS ON CANDIDATE FIT, NOT JUST ABILITY 14 #HiretoWin 73% n = 4,112. Source: CEB, Selection Effectiveness Diagnostic, 2013.
Fit with immediate colleagues (e.g., Peers, Manager) Fit with the work environment (e.g., Competencies, Work Preferences) 15 #HiretoWin TWO DIMENSIONS OF FIT MATTER 2. HOW? Relevance to WorkProximity to Colleagues 1. WHO? n = 500. Source: CEB, Selection Effectiveness Diagnostic, 2013. Review the LinkedIn profiles of your hiring manager’s direct reports to see what skills they list, degree types and levels they hold, schools they attended, etc.
Sample Ways to Find Candidates With Network Fit Through LinkedIn • Quality of mutual LinkedIn connections with candidate • Quality of candidate LinkedIn connections with employees 16 #HiretoWin HIRE MORE FOR NETWORK FIT n = 500. Source: CEB, Selection Effectiveness Diagnostic, 2013. Culture Fit How well the new hire fits with the organization’s culture Impact on Quality of Hire = 12% Network Fit How well the new hire fits with the way colleagues work Impact on Quality of Hire = 30%
79%of working professionals around the globe are considered passive candidates The other 21% are actively seeking a new job YOUR NEXT HIRE MAY REQUIRE A NEW APPROACH 17 #HiretoWin n = 3,995. Source: LinkedIn, Recruitment Insights Research, 1/2011- 8/2012.
120% more likely to want to make an impact 33% more likely to want challenging work 17% less likely to need skill development opportunities 21% less likely to need recognition for their contributions COMPARED TO ACTIVE TALENT, PASSIVE TALENT SHINES 18 #HiretoWin n = 3,995. Source: LinkedIn, Recruitment Insights Research, 1/2011- 8/2012.
What Is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 19 #HiretoWin
Global North America Asia Pacific 37 37 35 Utilizing social and professional networks 30 24 33Upgrading employer branding 29 2935 Finding better ways to source passive candidates 29 2424 Being a strategic Talent Advisor to the business 251821Boosting referral programs What Do You Consider To Be The Most Essential and Long-Lasting Trends In Recruiting for Professional Roles? Percentage of Recruiters TRENDS THAT AREN’T GOING AWAY 21 #HiretoWin n = 3,379. Source: LinkedIn, Global Recruiting Trends, 2013.
Relative Impact of Recruiter Capabilities on Recruiter Performance Percentage of Impact Explained 19% of recruiters currently qualify as Talent Advisors 15 33 52 Process Expert Pipeline Manager Strategic Advisor MOVE BEYOND PROCESS MASTERY TO STRATEGIC INFLUENCE 22 #HiretoWin Source: CEB, Building Next Generation Recruiter Capabilities.
Order Takers Trust hiring manager assumptions Fill requisitions effectively Drive for satisfaction Decision Influencers Challenge hiring manager assumptions Frame requisitions strategically Drive for impact Talent Advisor Defined Talent Advisors are decision influencers, not order takers. They earn the right to influence by informing staffing decisions with acute knowledge of the organization and deep expertise of external markets. EXPERTISE EARNS THE RIGHT TO INFLUENCE 23 #HiretoWin Source: CEB, Building Next Generation Recruiter Capabilities.
A COMPARISON OF TWO APPROACHES Needs Definition ASKS PROBES AND CHALLENGES Sourcing POST AND HOPE ACTIVE MINING PASSIVE MINING IN NON-OBVIOUS PLACES Selection ASSESSES FOR CULTURE FIT ASSESSES FOR NETWORK FIT Average Recruiter Approach Talent Advisor Approach Use LinkedIn Talent Pools Reports to collaborate with hiring managers to identify hidden pools of talent: lnkd.in/TalentDemand 24 #HiretoWin Source: CEB, Building Next Generation Recruiter Capabilities.
WHAT RECRUITERS ARE SAYING 25 #HiretoWin …Source and Recruit in New Regions “ I am proud to say that the commercial jobs were all filled...I received recognition from the business…and have learned a lot myself as well... ” …Build Credibility with Hiring Managers “ The key was understanding the hiring manager’s needs, translating that to the search efforts, delivering quality candidates, and over communicating status updates! ” Developing as a Talent Advisor helps me to…
Johnson & Johnson “…created the Talent Advisor competency model and implemented that across my global organization.” Jeanne Fedoryk VP, Global Recruiting Charles Schwab “The notion of what a Talent Advisor is…helped us get to the next level.” Frank Hynes VP, Talent Acquisition WHAT RECRUITING LEADERS ARE SAYING 26 #HiretoWin
What Is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 27 #HiretoWin
Recruiters: 3 Things You Should Do Differently 1. Ask candidates to demonstrate what they can do in situations that reflect the work environment of the role 2. Get peers on the interview slate to avoid over-relying on hiring manager’s assessment of fit 3. Earn the right to influence through firm-specific business acumen and labor market expertise How to Define (and Improve) Quality of Hire 28 #HiretoWin
Recruiting Leaders: 3 Things You Should Do Differently 1. Incorporate Network Fit into assessment and selection strategies 2. Build Talent Advisor capabilities by shifting recruiter mindsets from order takers to decision influencers 3. Measure your results by focusing on quality and tracking your team’s effectiveness over time How to Define (and Improve) Quality of Hire 29 #HiretoWin
KEY TAKEAWAYS What is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 30 #HiretoWin Hire for Network Fit: How well the new hire fits with the way colleagues work Develop Talent Advisor Capabilities: Being a Talent Advisor is more tactical than you might think Recruiter Takeaways: 1.Conducting simulation-based interviews 2.Involving peers in interview process 3.Developing as a Talent Advisor Recruiting Leader Takeaways: 1.Selecting for Network Fit 2.Building Talent Advisor capabilities 3.Tracking recruiting effectiveness
CEB is the world’s leading member-based advisory company. We have a unique view into what matters — and what works — when capitalizing on drivers of business performance. With 30 years of experience working with top companies to share, analyze, and apply proven practices, we begin with great outcomes and reverse engineer to help you unlock your full potential. ABOUT CEB 4 #HiretoWin Largest collection of best-practice research on talent management − 500+ researchers across 50+ domains − Experts in over 220 functional disciplines − 300,000+ proven best practices − Largest employer of organizational psychologists Largest network of functional executives − 16,000 C-level executives − 300,000 business professionals − 94% of Fortune 100; 88% of Fortune 500 − 40+ functions Extensive global coverage − Serving 10,000 companies in 110+ countries − Offices in over 50 countries − Assessments in 30 languages, customized to regional variations World’s largest and most proven provider of talent assessments − 30 million assessments delivered annually − Across 38 countries, 31 business functions and 40 industry sectors
Proactive Sourcing Automated Engagement Metrics and Analytics Personalized Job Targeting Talent Brand Development Strategic Sourcing and Pipelining 5 #HiretoWin ABOUT LINKEDIN TALENT SOLUTIONS An Effective Recruiting Strategy Requires Three Core Elements:

More Related Content

What the Best Hires Have in Common | Webcast

  • 1. What the Best Hires Have in Common How to Define (and Improve) Quality of Hire
  • 2. What Is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 6 #HiretoWin
  • 3. Top Three Metrics Used to Track Quality of Hire Percentage of Talent Acquisition Professionals Turnover/ Retention 50 56 53 49 41 51 New Hire Performance Evaluation 44 46 46 Hiring Manager Satisfaction Global North America Asia Pacific WHAT METRICS DOES YOUR ORGANIZATION USE TO TRACK QUALITY OF HIRE? 8 #HiretoWin n = 3,379. Source: LinkedIn, Global Recruiting Trends, 2013.
  • 4. New Hire Underperformance Source: CEB, Global Labor Market Survey, Q4 2012. new hires are “bad” or have “regretted decisions”, according to hiring managers on their team 1 in 5 Turnover Costs 1 Per 1,000 hires due to new hire turnover. $1.6M in rework costs incurred by Recruiting1 New Hire Turnover Source: CEB, Turnover Benchmarking Database, 2013. 23% among employees with tenure of one year or less TOO MANY REGRETTED HIRING DECISIONS 9 #HiretoWin
  • 5. Teams Job Levels Job Locations 67 66 63 57 Functions 50% NEW HIRES FACING MORE INTERDEPENDENT WORK Cross-Silo Coordination Percentage of Employees Who Regularly Coordinate with People in Different… 10 #HiretoWin in Reliance on Others to Get Work Done in How Dispersed Workforces Are Across the Globe of Employees Report Working with 20+ People in Their Day-to-Day Jobs 57% 30% n = 23,339. Source: CEB, High Performance Survey, 2013.
  • 6. + = Individual Task Performance Employee’s effectiveness at achieving his or her individual tasks and assignments Network Performance Employee’s effectiveness at improving others’ performance and using others’ contributions to improve his or her own performance Enterprise Contribution Employee’s effectiveness at his or her individual tasks, contribution to others’ performance, and use of others’ contributions to improve his or her own performance Up to 12% improvement in profit CEB’s Model of High Performance A NEW TYPE OF HIGH PERFORMER 11 #HiretoWin
  • 7. Conventional Definition of Quality of Hire A new hire’s current effectiveness at completing his or her individual task CEB’s 2013 Quality of Hire Definition1 A new hire’s current and likely future effectiveness at completing his or her individual tasks, contributing to others’ performance, and using others’ contributions to improve his or her own performance 1 As rated by hiring managers. HOW DO WE ACHIEVE HIGHER QUALITY HIRES FOR TODAY’S NEW WORK ENVIRONMENT? 12 #HiretoWin
  • 8. Recruiters 1. Technical skills 2. Culture fit 3. Communication skills 4. Previous work experience 5. Interpersonal skills n = 214 Talent Acquisition Professionals in the Technology sector located in US, Canada, UK, and Australia. Source: LinkedIn, Global Recruiting Trends, 2013. Hiring Managers 1. Problem solving skills 2. Technical skills 3. Communication skills 4. Work ethic 5. Agility/adaptability vs. n = 395 Technical Hiring Managers in the Software industry located in US. Source: LinkedIn, Quality of Hire Research, 2013. What characteristic is most predictive of a new hire’s success within the organization? THINK LIKE A HIRING MANAGER 13 #HiretoWin
  • 9. 48% 52% Ability New hire’s level of attainment of knowledge and skills Fit The relationship between new hire and his or her colleagues and organization Relative Impact on Quality of Hire FOCUS ON CANDIDATE FIT, NOT JUST ABILITY 14 #HiretoWin 73% n = 4,112. Source: CEB, Selection Effectiveness Diagnostic, 2013.
  • 10. Fit with immediate colleagues (e.g., Peers, Manager) Fit with the work environment (e.g., Competencies, Work Preferences) 15 #HiretoWin TWO DIMENSIONS OF FIT MATTER 2. HOW? Relevance to WorkProximity to Colleagues 1. WHO? n = 500. Source: CEB, Selection Effectiveness Diagnostic, 2013. Review the LinkedIn profiles of your hiring manager’s direct reports to see what skills they list, degree types and levels they hold, schools they attended, etc.
  • 11. Sample Ways to Find Candidates With Network Fit Through LinkedIn • Quality of mutual LinkedIn connections with candidate • Quality of candidate LinkedIn connections with employees 16 #HiretoWin HIRE MORE FOR NETWORK FIT n = 500. Source: CEB, Selection Effectiveness Diagnostic, 2013. Culture Fit How well the new hire fits with the organization’s culture Impact on Quality of Hire = 12% Network Fit How well the new hire fits with the way colleagues work Impact on Quality of Hire = 30%
  • 12. 79%of working professionals around the globe are considered passive candidates The other 21% are actively seeking a new job YOUR NEXT HIRE MAY REQUIRE A NEW APPROACH 17 #HiretoWin n = 3,995. Source: LinkedIn, Recruitment Insights Research, 1/2011- 8/2012.
  • 13. 120% more likely to want to make an impact 33% more likely to want challenging work 17% less likely to need skill development opportunities 21% less likely to need recognition for their contributions COMPARED TO ACTIVE TALENT, PASSIVE TALENT SHINES 18 #HiretoWin n = 3,995. Source: LinkedIn, Recruitment Insights Research, 1/2011- 8/2012.
  • 14. What Is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 19 #HiretoWin
  • 15. Global North America Asia Pacific 37 37 35 Utilizing social and professional networks 30 24 33Upgrading employer branding 29 2935 Finding better ways to source passive candidates 29 2424 Being a strategic Talent Advisor to the business 251821Boosting referral programs What Do You Consider To Be The Most Essential and Long-Lasting Trends In Recruiting for Professional Roles? Percentage of Recruiters TRENDS THAT AREN’T GOING AWAY 21 #HiretoWin n = 3,379. Source: LinkedIn, Global Recruiting Trends, 2013.
  • 16. Relative Impact of Recruiter Capabilities on Recruiter Performance Percentage of Impact Explained 19% of recruiters currently qualify as Talent Advisors 15 33 52 Process Expert Pipeline Manager Strategic Advisor MOVE BEYOND PROCESS MASTERY TO STRATEGIC INFLUENCE 22 #HiretoWin Source: CEB, Building Next Generation Recruiter Capabilities.
  • 17. Order Takers Trust hiring manager assumptions Fill requisitions effectively Drive for satisfaction Decision Influencers Challenge hiring manager assumptions Frame requisitions strategically Drive for impact Talent Advisor Defined Talent Advisors are decision influencers, not order takers. They earn the right to influence by informing staffing decisions with acute knowledge of the organization and deep expertise of external markets. EXPERTISE EARNS THE RIGHT TO INFLUENCE 23 #HiretoWin Source: CEB, Building Next Generation Recruiter Capabilities.
  • 18. A COMPARISON OF TWO APPROACHES Needs Definition ASKS PROBES AND CHALLENGES Sourcing POST AND HOPE ACTIVE MINING PASSIVE MINING IN NON-OBVIOUS PLACES Selection ASSESSES FOR CULTURE FIT ASSESSES FOR NETWORK FIT Average Recruiter Approach Talent Advisor Approach Use LinkedIn Talent Pools Reports to collaborate with hiring managers to identify hidden pools of talent: lnkd.in/TalentDemand 24 #HiretoWin Source: CEB, Building Next Generation Recruiter Capabilities.
  • 19. WHAT RECRUITERS ARE SAYING 25 #HiretoWin …Source and Recruit in New Regions “ I am proud to say that the commercial jobs were all filled...I received recognition from the business…and have learned a lot myself as well... ” …Build Credibility with Hiring Managers “ The key was understanding the hiring manager’s needs, translating that to the search efforts, delivering quality candidates, and over communicating status updates! ” Developing as a Talent Advisor helps me to…
  • 20. Johnson & Johnson “…created the Talent Advisor competency model and implemented that across my global organization.” Jeanne Fedoryk VP, Global Recruiting Charles Schwab “The notion of what a Talent Advisor is…helped us get to the next level.” Frank Hynes VP, Talent Acquisition WHAT RECRUITING LEADERS ARE SAYING 26 #HiretoWin
  • 21. What Is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 27 #HiretoWin
  • 22. Recruiters: 3 Things You Should Do Differently 1. Ask candidates to demonstrate what they can do in situations that reflect the work environment of the role 2. Get peers on the interview slate to avoid over-relying on hiring manager’s assessment of fit 3. Earn the right to influence through firm-specific business acumen and labor market expertise How to Define (and Improve) Quality of Hire 28 #HiretoWin
  • 23. Recruiting Leaders: 3 Things You Should Do Differently 1. Incorporate Network Fit into assessment and selection strategies 2. Build Talent Advisor capabilities by shifting recruiter mindsets from order takers to decision influencers 3. Measure your results by focusing on quality and tracking your team’s effectiveness over time How to Define (and Improve) Quality of Hire 29 #HiretoWin
  • 24. KEY TAKEAWAYS What is Quality of Hire in Today’s New Work Environment? How Can I Influence My Business to Focus on Hiring Higher Quality Talent? What Does this Mean for Me? 30 #HiretoWin Hire for Network Fit: How well the new hire fits with the way colleagues work Develop Talent Advisor Capabilities: Being a Talent Advisor is more tactical than you might think Recruiter Takeaways: 1.Conducting simulation-based interviews 2.Involving peers in interview process 3.Developing as a Talent Advisor Recruiting Leader Takeaways: 1.Selecting for Network Fit 2.Building Talent Advisor capabilities 3.Tracking recruiting effectiveness
  • 25. CEB is the world’s leading member-based advisory company. We have a unique view into what matters — and what works — when capitalizing on drivers of business performance. With 30 years of experience working with top companies to share, analyze, and apply proven practices, we begin with great outcomes and reverse engineer to help you unlock your full potential. ABOUT CEB 4 #HiretoWin Largest collection of best-practice research on talent management − 500+ researchers across 50+ domains − Experts in over 220 functional disciplines − 300,000+ proven best practices − Largest employer of organizational psychologists Largest network of functional executives − 16,000 C-level executives − 300,000 business professionals − 94% of Fortune 100; 88% of Fortune 500 − 40+ functions Extensive global coverage − Serving 10,000 companies in 110+ countries − Offices in over 50 countries − Assessments in 30 languages, customized to regional variations World’s largest and most proven provider of talent assessments − 30 million assessments delivered annually − Across 38 countries, 31 business functions and 40 industry sectors
  • 26. Proactive Sourcing Automated Engagement Metrics and Analytics Personalized Job Targeting Talent Brand Development Strategic Sourcing and Pipelining 5 #HiretoWin ABOUT LINKEDIN TALENT SOLUTIONS An Effective Recruiting Strategy Requires Three Core Elements:

Editor's Notes

  1. LinkedIn Talent Solutions provides thousands of recruiters, HR professionals and hiring managers with highly effective tools to find and engage top talent through the world’s largest online professional network. Over 225 million members.Our customers include 88% of the Fortune 100 and corporations from every industry around the globe.There are three key things companies do to dramatically increase their hiring effectiveness on LinkedIn.1st: proactive sourcing—using LinkedIn to find and engage the very best passive talent. Since organizations typically don’t have the bandwidth to source every hire proactively (don’t you wish you had this many resources!), it’s critical to be able to engage talent automatically to scale your recruiting efforts. 2nd element of the solution is personalized job targeting. LinkedIn’s algorithm will serve up the right job to the right candidate, to ensure that only qualified candidates will be exposed to your open opportunities to attract the most qualified.3rd element: developing a talent brand. Companies are tapping into their employees’ networks and leveraging company pages to promote their brand and attract talent.By adopting this recruiting strategy and leveraging the top 5 US Recruiting Trends, you job will be easier - you can hire more of the rightcandidates for the right roles.