The Quest to Quantify: Measuring the impact of you talent brand
To develop a complete mind:Study the science of art;Study the art of science.Learn how to see.Realize that everything connects to everything else.
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
Candidates tell us it’s important
Source: LinkedIn Talent Trends Report, March 2014
Reputation as a “great place to
work”
Reputation for “great products / services”
Reputation for “great people”
Reputation for “being prestigious”
56%
But how do you prove your talent brand is important?
1. Learn the language
2. Find your partners
3. Measure what matters
4. Beware of pitfalls
5. Get started
6
5 Steps to measure your talent brand
Learn the Language
Step One
8
Employer Brand n.
How you, the employer, promote your company as a place to work
9
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
50%of professionals around the world discover new job opportunities through word of mouth
Find Your Partners
Step Two
13
Company brand and talent brand are two sides of the
same coin.
Link
edIn
Tal
ent
Bran
d In
dex
Lippincott Customer BrandView Index
36%28%-6%
10%
HighLow
Hig
hLo
w
Cumulative Growth in Shareholder Value over 5 years:
Measure what Matters
Step Three
17
However beautiful the strategy, you should
occasionally look at the results. Winston Churchill
Know the goal:
Attract Engage Pipeline
6.3 million
Reputation aside, you should know what those open roles are costing your company
20
What’s your cost of vacancy?
Average Daily Revenue per Lost Employee =
Daily Revenue Lost =
Daily Revenue Lost =
(Total Annual Revenue ÷ # of employees)250 working days per year
Position’s salary250 working days
Simple SalaryMultiplier
X
Total Annual Revenue Generated by Position250 working days
4 simple metrics
22
Metric 1 Social Media Follower Quality
Know who your followers are:
FunctionSeniorityIndustryCompany size
Adapt your talent brand strategy for different audiences
Track targeted follower change as part of overall follower growth
23
Tips for visualizing your success
Plot campaigns against key success metrics to see correlation
24
Tips for visualizing your success
January
Febru
aryMarc
hApril
MayJu
neJu
ly
August
Septem
ber0
50000
100000
150000
200000
250000
300000
350000
400000
450000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Impressions servedFollowers
25
Metric 2 Talent Response Rate
If you’ve effectively built awareness, you should expect a higher response rate among priority talent pools.
Company page followers are
81% more likely to respond to an
inMail
26
Global e-commerce company has huge uptick in response rate from engaged talent
27
Tips for visualizing your success Track response rate over time to see trends
As your talent brand strengthens, you should see an increasing response rate from targeted talent pools
13% or below evaluate your inMail strategy
28
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
Stack quality vs. non-quality candidates on a chart
29
Tips for visualizing your success
Week 1 Week 2 Week 3 Week 40
10
20
30
40
50
60
70
Non-qualityQuality
# of
app
lican
ts
30
Metric 4 Time to hire
Your talent branding activities should build a strong pipeline and start more conversations with qualified talent, thereby lowering your time to hire.
Company with a strong talent brand on LinkedIn report a
20% Faster rate of hire
31
Tips for visualizing your success Track time to hire as a whole, or for specific roles
Time to hire for engineering roles
Time to hire for engineering vs. all roles
Week 1
Week 2
Week 3
Week 4
Week 5
0
5
10
15
20
25
30
35
40
Engineering - time to hireD
ays
Week 1 Week 2 Week 3 Week 4 Week 50
5
10
15
20
25
30
35
40
Engineering - time to hire
All roles - time to hire
32
Bonus Metric New hire alignment
Monitor the authenticity of your talent brand with a new hire alignment check
33
Survey new hires Did their expectations match reality?
Has your experience working here matched your expectations?Scale: 0 (not at all) – 5 (highly matched)
“Please explain why you selected that choice” so you can gain additional insights.
Send 90 days after start Ensure anonymity for honest answers Tools like Google Forms or SurveyMonkey are
free and easy
Graph alignment over time, preferably by function
34
Tips for visualizing success
Q1 Q2 Q3 Q40
0.5
1
1.5
2
2.5
3
3.5
4
4.5
SalesMarketingITHR
Alig
nmen
t Sco
re
35
Seeing poor alignment? Tips on how to adjust
1. You’re not sharing enough
2. Need to course-correct
“You have to embrace who you are, in all its hideousness or all its glory. Because that’s who you want to attract—talent with that shared passion and shared ideology.”
Ed Nathanson - FounderRed Pill Talent
Step 4Beware of
pitfalls
#1: Forgetting that branding is both a science and an art
#2: Measuring for the sake of measuring
#3: Analysis paralysis
37
Step 5 Get Started
• Identify a new partner
• Pick a new metric to incorporate into your talent brand measurements
• Start tracking and adjust as needed
©2014 LinkedIn Corporation. All Rights Reserved.
Top Related