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Talent Brand ROI Webcast: Metrics To Measure Talent Brand Success

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Join LinkedIn's Talent Brand experts for a live webcast: 'Talent Brand ROI: Metrics Speak Louder Than Words', and learn how to demonstrate the impact of your talent brand including four key metrics to measure ROI and talent brand success.

Publié dans : Recrutement & RH
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Talent Brand ROI Webcast: Metrics To Measure Talent Brand Success

  1. 1. Talent Brand ROI: Metrics Speak Louder Than Words
  2. 2. Meet your presenters #TalentTrends 2 Meet your presenters
  3. 3. Agenda ① Talent brand is your greatest competitive advantage ② Building a framework: ROI metrics and success partners ③ Building a business case with your executive team
  4. 4. Lippincott and LinkedIn partnered to assess the economic potential of a company with a compelling brand: Consumer and Talent. The research shows companies with a strong TBI and BrandView score have a 5 year cumulative growth in shareholder value of 36%. Talent brand should have same focus as corporate brand +10% + 36% -6% +28% TalentBrandPower (LinkedInTalentBrandIndex) LowHigh Consumer Brand Power (Lippincott Brand/View Scores Low High Cumulative growth in shareholder value over 5 years* *Cumulative stock performance over 5 year period.
  5. 5. Employer Brand n. How you, the employer, promote your company as a place to work Talent Brand n. the highly social, totally public version of your employer brand incorporating what talent thinks, feels, and shares about your company as a place to work a significant asset for both hiring/retaining great talent and promoting your corporate image to the market
  6. 6. 1 | Talent Brand Is Your Greatest Competitive Advantage
  7. 7. believe talent brand strength makes a “significant impact” on ability to hire 77% Average reduction in cost per hire 50% Average reduction in turnover 28% talent professionals who say talent brand is a top priority in 2015 56% We know that talent brand is important Source: LinkedIn Global Recruiting Trends Report, Nov 2014
  8. 8. 60% of the decision process is complete prior to any interaction with your business
  9. 9. Reputation is a critical factor Global Recruiting Trends 2014 Which of the following is the most important if you were to consider a new job?
  10. 10. Online job boards Social Professional Networks Word of mouth Company Websites Professional Groups Search engines Online Advertising 60% 56% 50% 40% 23% 23% 20% Social networks are the most important channel for talent leaders Social media (e.g. Facebook Twitter) Online professional networks (e.g. LinkedIn) Company website Global Recruiting Trends 2016: Most effective employer branding tools Talent Trends 2015: Most popular channels for finding next opportunity
  11. 11. 2 | Build A Framework: ROI Metrics & Success Partners
  12. 12. However beautiful the strategy, you should occasionally look at the results. Winston Churchill
  13. 13. Attract RetainRecruit What’s your goal?
  14. 14. Four simple metrics Want to go an extra step? New hire alignment Metric 1 Social follower quality Metric 2 Talent response rate Metric 3 Applicant quality Metric 4 Time to hire
  15. 15. Know who your followers are: • Function • Seniority • Industry • Company size Adapt your talent brand strategy for different audiences Metric 1: Social follower quality
  16. 16. 17 Creating and engaging ‘followers’ will fuel your success Members are 61% more likely to share information as a result of following your company 61% 81% Followers are 81% more likely to respond to an InMail 66% of members are interested in job opportunities from companies they are following 66%
  17. 17. • Track targeted follower change as part of overall follower growth 0 2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 0 50000 100000 150000 200000 250000 300000 350000 400000 450000 Impressions served Followers • Plot campaigns against key success metrics to see correlation Metric 1: Tips for visualising your success
  18. 18. Metric 1: Who are your partners? Will be able to define and communicate your workforce plan for you. Will be able to help with messaging to your audience. What do they want to hear, what is trending, do you have any thought leadership content? Will help you understand what the follower base looks like and how it has changed over time. This will help measure the success of your efforts. Sourcing for: Talent Segments Marketing/C omms for: Content LinkedIn Relationship Manager for: Data Analysis
  19. 19. Metric 2: Talent response rate Company page followers are 81% more likely to respond to an InMail Tip: If you’ve effectively built awareness, you should expect a higher response rate among priority talent pools.
  20. 20. Metric 2: Tips for visualising your success As your talent brand strengthens, you should see an increasing response rate from targeted talent pools 13% or below  evaluate your inMail strategy Track targeted follower change as part of overall follower growth
  21. 21. Metric 2: [in]sight - Use your analytics Data point Insights Years in current role Break down analytics of accepted, declined and no response. If a high number of recipients have been in their role < a year, need to be more strategic and considered about who you are contacting How personal are you making it? Identify how often you are contacting people with shared interests, connections, experience etc and which are the most common Template Usage The higher the % of template usage, the less personal/bespoke your message. Team data Compare yourself to your team. If you are falling behind in comparison, identify a high achieving team member to leverage templates, content.
  22. 22. Metric 2 Talent Response Rate Metric 2: Who are your partners? Most connected employee for: Hiring manager Recruiter Average InMail response rates when first degree employees reached out Average InMail response rates when recruiters reached out 85% 28% VS
  23. 23. Metric 3: Applicant Quality Who are the quality candidates for you? • Subjective  What does it mean to your company? • Good fit for the company • Good fit for the role
  24. 24. Metric 3: Applicant Quality 75% measure quality of hire through new hire performance evaluation50% measure quality of hire through turnover or retention statistics49% measure quality of hire through hiring manager satisfaction43% Global Recruiting Trends 2016: Most valuable metric that you use to track your recruiting team’s performance
  25. 25. Tips for visualizing your success 0 10 20 30 40 50 60 70 Week 1 Week 2 Week 3 Week 4 #ofapplicants Non-quality Quality Metric 2: Tips for visualizing your successMetric 3: Tips for visualising your success Stack quality vs. non-quality candidates on a chart
  26. 26. Metric 3: Who are your partners? Anecdotal feedback on the quality and culture fit of applicants. What do you talent flows look like? Where are you sourcing candidates From/which companies are they going to? Start measuring retention rates of applicants sourced through different channels. . Hiring Manager For: Culture Fit HR For: Retention LinkedIn Relationship Manager For: Talent Flows
  27. 27. Metric 4: Time To Hire Company with a strong talent brand on LinkedIn report a 20% Faster rate of hire Your talent branding activities should build a strong pipeline and start more conversations with qualified talent, thereby lowering your time to hire.
  28. 28. Time to hire for engineering roles Time to hire for engineering vs. all roles 0 5 10 15 20 25 30 35 40 Week 1 Week 2 Week 3 Week 4 Week 5 Days Engineering - time to hire 0 5 10 15 20 25 30 35 40 Week 1 Week 2 Week 3 Week 4 Week 5 Engineering - time to hire All roles - time to hire Metric 4: Tips for visualising your success Track time to hire as a whole, or for specific roles
  29. 29. 30 What’s new title?? Ongoing measurement? - Elle Surveys are an easy, cost effective way to keep in touch! Internal: Emp. engagement surveys, new hire surveys: 3 months to test talent brand authenticity (again at 12-18 months) External: Silver medalist candidates Talent brand measurement & ROI is ongoing Surveys (Internal & External) Referrals LinkedIn Insights Measure your talent brand against peers, engagement.
  30. 30. Referrals grow as a key source of quality hires 75% Global Recruiting Trends 2016 Most essential and long-lasting trends in recruiting for professional roles? Most important source for quality hires in last 12 months?
  31. 31. 3 | Building a Case: How to elevate talent brand conversations and demonstrate success with your executive team
  32. 32. 57% At socially-engaged companies employees are 57% more likely to leverage social media to drive sales 40% More likely to appear more competitive 58% More likely to attract talent Source: relationships Matter, LinkedIn & Altimeter Group, 2014 Today’s top performing leaders are social leaders.* * 76% of executives say they would rather work for a social CEO (The Social CEO: Executives Tell All, Weber Shandwick, 2013) Around the world and across industries, top executives who were once convinced that social media wasn’t worth their time, now consider their participation in these networks as essential to their role. As a result, more and more top executives see the benefits of being open and transparent and take part in the social revolution.
  33. 33. Today’s top performing leaders are social leaders. SIR RICHARD BRANSON FOUNDER & CEO, VIRGIN GROUP MIKE SMITH CEO, ANZ MARK PARKER CEO, NIKE Social media is helping us unite and expand. We have never been closer to our consumers. In social media our strategy is rapidly evolving. It is centered on ANZ participating in the social web through our organization and through our people. This includes me as CEO, my management team and ultimately all our people. Embracing social media isn’t just a bit of fun, it is a vital way to communicate, keep your ear to the ground and improve your business. “ ”
  34. 34. LinkedInTalentBrandIndex Lippincott Customer BrandView Index 36% 28%-6% 10% HighLow HighLow Cumulative Growth in Shareholder Value over 5 years: Talent brand impacts bottom line (and top line!)
  35. 35. Business Critical Appetite to innovate Hard to fill Invest in talent community Where to get the business started
  36. 36. Business Goal Talent Goal Talent Brand Challenges Communication Objective Risks of not hitting hiring goals Provide a best in class online experience for customers to engage with our brand and projects Expand our APAC digital team by 200 over the next 12 – 18 months with an emphasis on female talent Talent knows and understands our consumer brand but know what it’s like to work here There is a shortage of talent in this sector and we are competing against big brands for digital talent – Google, Microsoft, Airbnb, Big Banks To organically place ourselves at the heart of digital professionals in APAC and redefine the digital possibilities of working for our company Failure to innovate digitally means we will lag behind our competitors resulting in significant $xx reduction in revenue Business & talent alignment
  37. 37. Reputation aside, you should know what those open roles are costing your company Average Daily Revenue per Lost Employee = Daily Revenue Lost = Daily Revenue Lost = (Total Annual Revenue ÷ # of employees) 250 working days per year Position’s salary 250 working days Simple Salary Multiplier X Total Annual Revenue Generated by Position 250 working days What’s your cost of not investing?
  38. 38. Followers Our company: 90,000 Goal: 110,000 by Jan ‘16 Response Rate Current: 28% Goal: 38% in 6 months Followers are 80% more likely to respond to an InMail Quality of hire Time to hire Dept Now (days ) Goa l Days saved Cost saving (per head) Hiring volume (yearly ) Annual saving IT & Digital 50 45 5 $10k 16 $160k Shared Services 34 31 3 $8k 8 $64k Sales 28 24 4 $30k 19 $570k Marketing 30 28 2 $16k 3 $48k TOTAL SAVING $866k Source Avg. tenure Retention (6 mths) Retention (12 mths) LinkedIn 3.5 95% 89% Referral 4.3 93% 89% Job board 2.2 78% 71% Agency 1.8 80% 55% Talent flows: Top 3 companies hired from: Competitor x Competitor y Competitor z Industry Benchmarking Competitor a: 118,990 Competitor b: 117,606 Competitor x: 113,193 Competitor y: 81,099 Competitor z: 76,360 For executives: use a performance scorecard
  39. 39. Key Takeaways: ① Talent brand impacts your bottom line ② Measurement is key ③ Bring your partners on the journey
  40. 40. Questions?
  41. 41. ©2014 LinkedIn Corporation. All Rights Reserved.