HR's Impact on Business Imperatives
Transcript of HR's Impact on Business Imperatives
1 Content Property of Pinstripe, Inc.
HR’s Impact on Business Imperatives
Facilitated Roundtable Discussion
Monday, September 30 & Tuesday, October 1
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1.Be open and honest.
2.Challenge and debate.
3.Learn and apply.
Session Goals
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Participant Introductions
• Name
• Title
• Company
• Challenge of the Moment
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Tying Talent Strategies to Quality
Topic
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• Have you aligned your talent strategies to drive your organization’s overall quality metrics?
– Yes, fully.
– Yes, in theory.
– We want to!
– Nope. Don’t get me started…
Poll Question
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Hospitals and health systems with higher-quality talent selection and management systems had higher HCAHPS scores than their competitors.
Source: Hospital Consumer Assessment of Healthcare Providers and Systems (HCAHPS) & DDI Global Leadership Forecast.
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Talent’s True Impact
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• What’s the most “broken” level in your organization?
– Talent Acquisition
– Employee Engagement
– Quality of Care
– Patient Satisfaction
Poll Question
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Tying Talent Strategies to Quality
Topic
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Driving Workforce Productivity
Topic
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• What do you think the true cost to the average organization is for each disengaged employee?
– No direct cost to the organization.
– Cost of their salary.
– The result of a time-consuming mathematical formula I don’t have time to solve.
– Priceless.
Poll Question
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Every disengaged employee adds $13,000 per year in costs, and every 1% improvement in engagement results in a 2-3% increase in revenue.
Source: Gallup Employee Engagement Index
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Good People are Great for Business
Increased productivity in operations roles
Increased profit in management roles
Increased revenue in sales roles
Source: McKinsey & Company
How much more does a high performer generate annually than an average performer?
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• What is your organization’s primary driver of employee engagement?
– Positive managerial relationships
– Pride in the company/brand reputation
– Challenging and rewarding work
– Compensation & incentives
Poll Question
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Driving Workforce Productivity
Topic
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Achieving Rapid Deployment
Topic
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• What percentage of time do you spend putting out fires vs. planning and strategy?
– Fires 10%, Strategy 90%
– Fires 25%, Strategy 75%
– Fires 50%, Strategy 50%
– Fires 75%, Strategy 25%
– What’s strategy??
Poll Question
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It's a challenge for organizations to understand the total cost of labor, even though it's their biggest cost…it's about measuring the quality of talent and making sure you have the right people with the right competencies and skills in the right job.
Source: Jill Schwieters, H&HN
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Total number of days from opening a requisition to an accepted offer.
– Analyze by job family, recruiter and hiring manager
– Track quarter-over-quarter and year-over-year
Time to Fill
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Drivers • Lack of clarity about required skills
• Extended timelines due to hiring manager competing priorities
• Post-and-Hope recruiting philosophy
Cost of Drivers • Lost productivity
• Premium staff costs incurred
• Lost revenue
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Topic
Achieving Rapid Deployment
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Summary
HR Metrics Dashboard
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Sample Executive Scorecard
Total Hires = ##
Hiring Manager
Interviews = ##
Recruiter Interviews =
##
Sourced ###
Current Opens
Sourced Candidates
Recruiter Interviews
Hiring Manager Interviews
Offers Extended
Offers Declined
Offers Accepted
## ## ## ## ## ## ##
90 Day Retention
##
HM Interview: Offer
##:##
Period from 6/1/2012 through 12/31/2012
Recruiter Interview: HM Interview
##:##
Agency & Traveler Costs
Locum Tenens Costs
Overtime Costs
Search Fees
Recruitment Marketing Costs
$ $ $ $ $
Average Days Open
##
% Hiring Manager Satisfaction
% Candidate Satisfaction
$ Average Cost Per Vacancy
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Talent’s True Impact