Finding the 'Why' Behind Talent Management Technology
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A company’s most valuable asset is the people who walk through its doors each day to manage, lead, coordinate and execute. Providing these employees with a first-class experience from pre-hire to retire is the most crucial element to sustaining a successful business and attracting talent that will develop into future leadership, and utilizing cutting-edge technology is a key ingredient to the process. Join us as Thomas Boyle and Chris Lennon of SilkRoad help attendees discover the “why” behind talent management technology, exploring the capabilities and power of automation and its positive effect on the employee experience and your company’s bottom line. Register and attend to discover: The power of technology in talent management. How utilizing technology can drive better business results and increase ROI. Why automation of talent management processes can increase engagement and retention.
Transcript of Finding the 'Why' Behind Talent Management Technology
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Speakers: Thomas Boyle Director of Product Marketing SilkRoad Chris Lennon Director of Product Management SilkRoad Moderator: Deanna Hartley
Senior Editor Talent Management Magazine
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Deanna Hartley Senior Editor Talent Management magazine
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Thomas Boyle Director of Product Marketing SilkRoad Chris Lennon Director of Product Management SilkRoad
Finding the “Why” Behind Talent Management Technology Thomas Boyle & Chris Lennon SilkRoad technology July 11, 2013
Todays Topics
Talent Acquisition • Recruiting & Onboarding Management
Talent Development
• Performance & Learning Management
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The Cost Business Drivers Benefits
Benchmarking for Success
Common Challenges
Key Take Away’s
Distributed Workforces
Talent Development
HRMS
Talent Acquisition
Measure
Benefits of a Talent Strategy
Recruiting Management
The Cost
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“This large expense is primarily going to agencies and job boards today” -Bersin Talent Acquisition Factbook® 2011
124 billion U.S. spending on talent acquisition 2011. An Increase of 6%.
Average spent for every new hire brought into the organization.
$3,500
Todays Workforce
7.5 Percent Unemployment Rate
11.7 million Unemployed in U.S
32 % Lack of available candidates
Path to Improvement
Recruitment Metrics
Top 3 Recruitment metrics used in organizations
Employee Retention Quality of Hire Time to fill
Vacancy Rate within Top Jobs
Turnover Rate
Offer Acceptance Rate
Your Brand Strength
Individual Recruiter Performance
Cost per hire
Business Drivers
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1. Volume of resumes make screening cumbersome and costly
2. No centralized database limits metrics and reporting capabilities
3. No way to brand recruitment effort to reflect culture
4. High agency and Job board fees, and no simple/accurate way to manage.
5. No formal workflow process or standard processing
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Top 5 Challenges
Benefits/Results
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Recruiting Technology: Benefits
Attracting & Engaging Talent • Decrease your job board spend/Automate Job Distribution • Reduce drop off by streamlining the candidate application process • Increase brand awareness, with company career portals and content. • Automate Hiring Workflows & Notifications saving time and increasing engagement.
Screening & Hiring • Reduce agency spend by identifying candidates who are already in your database. • Leverage existing employee referral networks for lower cost , better fit referrals. • Increase your quality of hire by including prescreening questions to identify high
potential and knock out low performers. • Decrease time to fill with automated workflows and Interview scheduling. • Mitigate risk by capturing and reporting on the proper guidelines.
High Sierra Industries
Onboarding & Transitions
The amount employees cost U.S and U.K companies by not fully understanding their jobs.
-IDC International Data -
37
Billion
The Cost
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25% couldn’t log onto the network
20% didn't know how to find company resources Manager/Team was not involved in onboarding
27% of the time
29% didn't feel prepared the first day
28% didn't have sufficient introduction to culture
What Does your Onboarding Process Look Like?
Benchmark: Onboarding Automation
Tools that automate forms management
Personalized portals for employees
Reporting tools that monitor whichemployees have completed what forms…
Tools that track HR compliance rates
Social technology
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Benchmark: Technology in use
Business Drivers
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1. Manual paper form processing increases opportunity for errors and creates redundant data entry
2. Absence of a formal workflow process and lack of consistency by location, job, and department
3. Lack of overall socialization and connection to company or team
4. Lack of consistency and engagement in new hire processing resulting in delayed productivity
5. Compliance Issues , including Errors in I-9 and W4 processing
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Top 5 Challenges
Benefits/Results
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• Increase Day one Readiness by automated the delivery of critical forms and onboarding tasks internally and externally.
• Speed time to productivity for new and by providing essential connections and training
during onboarding. • Go Paperless: With electronic form capabilities HR teams can eliminate the extra paper
associated with administrative responsibilities, reducing costs for their organization. • Increase Efficiency: With automated workflows HR staff can drastically improve
productivity; as much as 30%. • Improve Employee Retention with Early engagement to minimize no-shows and new
employee turnover. • Reduce legal risks by automated I-9 and E-Verify compliance.
Onboarding Technology: Benefits
Benefit Timeline
Prepare & Orient Integrate Excel
Day 1 Day 90 Year 1
Future State
Current State
Gain 1 Accelerated time to
contribution
Gain 2 Accelerated Productivity
Start Earlier
Pre Day 1
Learning & Performance Management
Key Drivers
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How Closely Tie Performance Evaluation to Employee Development
Learning Management
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The Cost
spent by US organizations on employee training
• 56% ($87.5 billion) on internal training • 30% ($46.9 billion) on external services • 14% ($21.9 billion) on tuition reimbursement
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156 billion
1,182
*ASTD 2012 State of the Industry Report
spent per employee • Small companies spend more per employee • Employees averaged 31 hours of training
The Cost
“US training organizations grew their spending by 12% in 2012 with similar growth rates expected in 2013.” “Organizations with highly mature L&D functions (we call them High-Impact Learning Organizations) spend 34% more than others.” “Large businesses triple their spending on social learning.”
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*
Business Drivers
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Top 5 Challenges
• Ineffective tracking of training completion and success rates • Cost of delivering instructor led training • Lack of central management and automation of training
programs • Reporting gaps allow lapses in compliance • Difficulty building, re-using, and updating
course content
The Incredible Shrinking Training Dept.
• Ratio of training staff continues to decline
• A sign of the changing role of L&D • No longer ‘the place’ for learning • Instead, facilitate and enable learning
• Need new technology skills
• Gain expertise in new technologies including social and mobile
• Build skills in performance consulting • Work to cultivate strong learning cultures
within their organizations
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*
Automation Compliance Training
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59% 59% 42% Manual
Automated
Are you ready?
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9%
23%
47%
21%
It makes me want to quit.
Holy Reporting Batman!!! I have togive up 3 weeks of my life to
prepare for this?!
Great, let’s go! I’m confident I have what I need.
Other (please specify)
Professionals’ level of confidence in their audit “readiness.”
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Benefits/Results
Automation = Consistency = Increased Safety
High Sierra Industries
Performance Management
50
The Cost
Days wasted per year for U.S. Managers dealing with
underperformers
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34 days
350 billion Gallup estimate for cost to the U.S. Economy by disengaged employees
• $2,246 per disengaged employee
Business Drivers
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Tools for Performance Management
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Top 5 Challenges
• Lack of automation results in a cumbersome process reliant on staff
• Inaccurate appraisals and inflated rating scales • Employee dissatisfaction with results and process • Employee goals not aligned with business objectives • Lack of structured engaging development plans
Believe it is important to link a current review with the previous review
Consider organizational
influence an important measure of future
leadership potential
Benefits/Results
57
Goals Achieved Through Technology
Complied with regulatory requirements
Standardized process across organization
Reduced costs
Improved organizational performance
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Kearney & Company
Take Away #1
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Organizations must move from tactical to strategic approaches.
Recruiting, Onboarding, Employee Transitions, Performance Management, and
Learning and Development are generally viewed as one-time events, not a continuous process.
Develop a strategy – goals, philosophy, and technology models to engage and employees, continuously
Take Away #2
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Recruiting technology can offer a low cost high touch option helping you attract, screen and hire the best talent.
Key takeaway: Leverage your brand and your career portal as a way to engage candidates and drive
them to the best career opportunities.
Recruiting technology can increasing the quality of your applicants while decrease the cost and time it takes to find them .
Take Away #3
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Improve day one readiness by enabling employees to contribute faster more effectively.
Organizational and role alignment : Standardized processes,
reduced paperwork and effort, a cohesive framework for geographically dispersed organizations.
HR ad L&D professionals can spearhead automation and efforts and assemble multi disciplinary teams to determine which process stand to benefit
Take Away #4
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Compliance training is an “Achilles heel” for many organizations.
Many companies are managing compliance tracking and reporting using a
patchwork of technologies and processes.
Organizations stand to gain by adopting technology to improve their compliance training, reporting, and audit preparation.
Take Away #5
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Employees that are engaged and clearly understand their roles and contributions out perform their counterparts.
Technology can automate processes that drive employee participation while reducing paperwork.
Organizations that are still using paper-based processes have lower participation in performance activities and have a harder time pushing business goals.
Proprietary and Confidential This material is proprietary to SilkRoad, inc. It contains trade secrets and confidential information which is solely the property of SilkRoad, inc. This material is solely for the client’s internal use. This material shall not be used, reproduced, copied, disclosed, transmitted, in whole or in part, without the express consent of SilkRoad, inc.
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