Moneyball Sourcing

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description

ERE Webinar from 12/15/11, presented by Marvin Smith.

Transcript of Moneyball Sourcing

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Moneyball Sourcing

Looking at Sourcing Through

the Lens of Moneyball

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The Recruiting Version of Sabermetrics

Jobs2Web Dashboard

TalentBrew Dashboard

• Use data in new ways• Move from “a gut feeling” to data driven

decisions• Both presentations are on ERE site

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SEARCHES GOOGLE

VISITS CAREER

SITE

SEES JOB THEY LIKE

GOES TO LINKEDIN

SENDS FRIENDS INMAIL

SEES WORK WITH ME JOB ON LI

JOINS TALENT

COMMUNITY

APPLIES TO JOB #1

FRIEND #1 REFERS TO RECRUITER

FRIEND #2 SAYS STAY

AWAY

GETS JOB ALERT

FROM TC

APPLIES TO JOB #2 ON

MOBILE

FOLLOWS ON

TWITTER

SEES JOB TWEET

FRIEND #1 SAYS OK PLACE

GETS EMAIL FROM

RECRUITER

APPLY TO #4 VIA TWITTER

1

6

3

2

10

4

5

7 8

RECRUITER TELLS ABOUT

JOB #3

GETS HIRED FOR JOB #4

WHO GETS CREDIT?

Source: ERE Recruiting Innovation Summit 2011

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What Is Becoming CommonplaceCandidate: Brian1st Apply: 1/05/2011Hired: 7/31/2011

Career SiteJob AlertTwitterJob BoardJob AlertDirect: ATSJob CentralJob AggregatorJob AlertTwitterCareer SiteJob AlertATS

31 Applies From 8 Different Sources

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WIIFM1.A different way of thinking

about data—metrics that are useful

2.A great way to impact current hiring needs and pipeline for future

3.A little clarity in the complex world of sourcing & recruiting

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Moneyball 101

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1.Challenge Conventional Wisdom

2.The Science of Winning3.Adapt or Die

Call to action: Courage to Believe the Data

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Challenge Conventional Wisdom

1. Job Boards Are Dead

2. Passive Candidate Are Best

3. Lost Faith in “Post & Pray”

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Job Boards Are Dead

Source: Job Seeker Attitudes and Behaviors; Mastering Internet Recruiting Staffing.org 2009

Job Board is the fourth most effective source of hireJobvite: Job Board is the 2nd most effective source of hire

1 Career Site2 Industry

Groups3 Job Boards

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Passive Candidate Are Best

Source: Corporate Executive Board-The Benefits of Passive Sourcing and Candidate Relationship Management Systems 2009

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Lost Faith in Post & Pray

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ReviewChallenge Conventional Wisdom

• Job Boards Are Dead

• Passive Candidates Are Best

• No Post & Pray

The Science of Winning

• Data driven decision

• Same data, different lens

• Clarity on the other side of complexity

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The Science of Winning1. Move from “a gut

feeling” to data driven decisions

2. Sabermetrics (Use same data in new ways)

3. Clarity on the other side of complexity: Scoring was a process, not a talent (RBI); Get on base and create conditions for the next step

“Paul DePodesta concluded it would take 95 wins to make the playoffs. He then calculated how many runs the A’s would have to score than they allowed; 135. (The team would need to score between 800 and 820 runs and give up between 650 & 670 runs).” Moneyball; Michael Lewis

Walk is an important as a hit. • The more hitters avoid

striking out and force the pitcher to give them a pitch to hit or walk them, the more runners on base.

• The more players on base, the higher the likelihood or of runs and wins.

• Walk turns out to be as valuable as a hit.

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The Science of Winning1. Move from “a gut

feeling” to data driven decisions

2. Recruiting data & metrics--Use data in new ways

3. Clarity within the complexity

How many visitors will it take to meet the demand of our workforce plan

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Jobs2Web Dataset

• 51 million visitors• 3.7 million applications• 63,660 hires• Notice how many visitors,

applies are actually taking place—799; 77; 57; 10

• >1% begin the application process; .07 actually apply for a job; and .01 will interview

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Science of Winning-Job2Web Benchmark Metrics

Metric Result

# visitors 799

# apps starts

77.2

# apps completed

57.6

# qualified

10.3

# interviews

3.6

# offers made

1.2

# hires 1.0

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Science of Winning

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Source

# Visito

rs /hire

Source#

qualified

# intervi

ewsSource # qualified

# interviews

efficiency

Facebook 400 Facebook 4.8 2.2 Facebook 4.8 2.2 45

Career Site 407 Search Engines 6.9 2.9 Search Engines 6.9 2.9 42

Industry Groups 472 Career Site 8.2 3.3 Industry

Groups 10.1 3.1 30

Major Boards 621 Industry Groups 10.1 3.1 Career Site 8.2 3.3 40

Niche Boards 880 Social Media 15.8 5 Job Aggregators 19.3 4.3 22

Social Media 899 Major Boards 17 4.8 Major Boards 17 4.8 28

Search Engines

1224

Niche Boards 18.1 5.9 Social Media 15.8 5 31

LinkedIn1354

Job Aggregators 19.3 4.3 Niche Boards 18.1 5.9 32

Job Aggregators

2186

LinkedIn 31.4 9.1 LinkedIn 31.4 9.1 28

Visitors Per Hire Qualified Prospects Per Hire

Interviews Per Hire

Ranking the Sources of Hires

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Source

# Visito

rs /hire

Source#

qualified

# intervi

ewsSource # qualified

# interviews

efficiency

Facebook 400 Facebook 4.8 2.2 Facebook 4.8 2.2 45

Career Site 407 Search Engines 6.9 2.9 Search Engines 6.9 2.9 42

Industry Groups 472 Career Site 8.2 3.3 Industry

Groups 10.1 3.1 30

Major Boards 621 Industry Groups 10.1 3.1 Career Site 8.2 3.3 40

Niche Boards 880 Social Media 15.8 5 Job Aggregators 19.3 4.3 22

Social Media 899 Major Boards 17 4.8 Major Boards 17 4.8 28

Search Engines

1224

Niche Boards 18.1 5.9 Social Media 15.8 5 31

LinkedIn1354

Job Aggregators 19.3 4.3 Niche Boards 18.1 5.9 32

Job Aggregators

2186

LinkedIn 31.4 9.1 LinkedIn 31.4 9.1 28

Visitors Per Hire Qualified Prospects Per Hire

Interviews Per Hire

Ranking the Sources of Hires

1

3

2

4

5

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SEARCHES GOOGLE

VISITS CAREER

SITE

SEES JOB THEY LIKE

GOES TO LINKEDIN

SENDS FRIENDS INMAIL

SEES WORK WITH ME JOB ON LI

JOINS TALENT

COMMUNITY

APPLIES TO JOB #1

FRIEND #1 REFERS TO RECRUITER

FRIEND #2 SAYS STAY

AWAY

GETS JOB ALERT

FROM TC

APPLIES TO JOB #2 ON

MOBILE

FOLLOWS ON

TWITTER

SEES JOB TWEET

FRIEND #1 SAYS OK PLACE

GETS EMAIL FROM

RECRUITER

APPLY TO #4 VIA TWITTER

1

6

3

2

10

4

5

7 8

RECRUITER TELLS ABOUT

JOB #3

GETS HIRED FOR JOB #4

WHO GETS CREDIT?

Source: ERE Recruiting Innovation Summit 2011

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Science of Winning-Clarity

First Base might be signing up for an email list, an RSS blog feed or Jobs2Web talent network

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Science of Winning-Clarity

Second base might be following us on Twitter, or a “like” on Facebook

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Science of Winning-Clarity

Third base might be joining a community or downloading whitepaper

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Science of Winning-Clarity

Crossing “home plate” is the result of several smaller moves

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Review

Science of Winning• Data driven

decision• Same data,

different lens• Clarity on the

other side of complexity

Adapt or Die• Built a “farm

system”-had an immediate and long term view

• knew what talent was available—kept own data.

• Built relationships

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Adapt or Die• “Source efficiency”-

evaluated the source of talent

• Knew who was available-developed own database

• Built a “farm system”-immediate needs, but also strategic about the future

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Adapt or Die• Consistent Message: Brand

Message must be consistent as the audience is always changing (remember who our audience is…..)

• Social Contract Broken: People naturally break into affinity—no employer loyalty

• Strategic Sourcing: Need to think immediate, as well as, long term

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Marketing Axiom

“only 10% of website visitors or searchers are ready to engage, make a purchase decision, or opt-in right away; but over the course of the subsequent 12 months, with the right value-added communication, that number skyrockets to 87%

Source: BtoB magazine, 2004

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Less than once per year14%

Once Per Week11%Several Times Per Month

15%

Once Per Month12%

Once Every Two Months9%

Once Every Three Months14%

Once Every Six Months16%

Once Per Year9% % Audience

Source: CLC Recruiting 2010

60% of passive candidates want to hear about jobs at least every

3 months

Target Audience Behavior

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Target Audience Behavior

Source: 2011 Corporate Recruiting Reports Candidate Attitudes and Behaviors Staffing.org

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Social Contract Broken

Our data shows that candidates have increasingly accepted the inherent uncertainty of the working world and are programming their careers accordingly. They don’t believe in the old social contract any more than employers do. For both parties “forever” is a conditional term: nice to hear but undependable.

Source: 2011 Corporate Recruiting Reports Candidate Attitudes and Behaviors Staffing.org

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Jobs2Web Dataset

1. 10 large customers with 8800 hires during 2011 from their talent network

2. This data illustrates that while 57% of applicants that are hired apply for a job on the first day, 43% of hires actually at some point in the future.

3. The data also documents that in many cases, it is the “job alerts” (drip marketing) that trigger the apply.

4. Conclusion: we may be missing on a significant number of hires if we do not have a method of remarketing to our candidates.

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Source 0 days 1-30

31-60 61-90 >90 Total >1 >30

Career Site

3105 729 339 250 827 5250 41% 27%

Career Site Services

469 105 49 30 77 730 36% 21%

Direct 677 168 105 78 327 1335 50% 34%

Search Engine

332 129 43 24 136 664 50% 31%

Email 135 36 4 10 34 219 38% 22%

Job Aggregator

107 53 12 11 60 245 56% 34%

Total 5050 1288

566 417 1533 8854

% total 57% 15% 6% 6% 17% 100% 43% 28%

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Apply Starts vs. Apply Completed

Metric Result

# visitors 799

# apps starts

77.2

# apps completed

57.6

# qualified

10.3

# interviews

3.6

# offers made

1.2

# hires 1.0

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Talent Communitie

s

Prospects & Passives

Current Employees

Past Applicants

Recruiter Contacts

Key Contact

Lists

Target Audience Initiatives

Alumni

Magnets to attract prospects

Re-Recruit Past Applicants & Drive Viral Referrals

Capture Passives & Apply Drop

Offs

Centralize & Automate

Recruiter Contact Marketing

Automate Drip Marketing To

Prospects

Drive Boomerang Hires & Viral Referrals

Automate Drip

Marketing To Prospects

What Is A Talent Community?

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CRM Engine

Google+

Jobs2Web Expert

Network

LinkedInfacebook

Twitter

Talent--Community of Communities

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1.Talent Network (community) has become the 4th largest source of hire

2.Over 17 months, the number of applies by the members of the talent community grew significantly

3.Not only did the # of applies grow, the number of candidates that it takes to make a hire decreased

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Review

Adapt or Die• Consistent Message:

Brand Message must be consistent as the audience is always changing (remember who our audience is…..)

• Social Contract Broken: People naturally break into affinity—no employer loyalty

• Strategic Sourcing: Need to think immediate

Courage to Believe the Data

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Courage to Believe the Data

• Taking action on data

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Resources

• Jobs2Web• David Earle of Staffing.org• The Corporate Executive

Board Company—CLC Recruiting

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Ask Questions Talent Communities

Join Talent Community Development Group on LinkedIn