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Presentation from the ERE Expo Fall 2009, presented by Richard Newsom.
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Our Recruiting Stock Price Measuring Our Recruiting
Organization Using a Single Metric
Key Challenges Industry-wide Issues
— What pieces of the recruiting process should be measured?
— How should you evaluate individual recruiter performance?
— How do you stack-rank recruiters who don’t do the exact same job?
— How do you relate the various recruiting metrics to one another?
— How do you tie measurements to rewards, recognition and reviews?
Fifth Third-Specific Issues — Each Recruiting Region measures performance differently, if at all.
— Each Recruiting Region independently operated (decentralized).
— Existing measures are not based upon the needs of our customers.
— Not currently possible to understand the end-to-end recruiting process.
— Recruiter performance measure are: infrequent not consistent
Fifth Third Bank Recruiting Overview
Size and footprint of the Bank
Size and make-up of the Recruiting Organization
Anticipated Hiring Needs for 2009
Approach
Objective: Become a Process Management focused organization meeting all customer needs.
Process Management is… A framework that will allow the organization to have
transparency and ownership of its end-to-end processes.
An alignment of strategy, tactics and operations to meet customer needs.
A predictive approach to manage and control process inputs ensuring that process outputs are within customer specifications.
Establishing Voice of Customer
Establish Baseline needs
Finalize Needs & Determine
Importance
Complete needs Prioritization &
Establish specs
Identify Customers
Direct Customers • Hiring Managers • Candidates
Indirect Customers • Bancorp • Legal, Compliance
and Regulatory bodies
• Baseline the customer needs through individual and small group discussions
• Surveys to each customer type across the Bank
• Determine needs
• Establish importance of each need to the customer
• Determine priority of each need in relation to the others
• Determine expected performance for each need (e.g. specification limits)
Only measure items… that are important to the customers
that will result in decisions and actions
Note: Customer needs gathered from 18 individual customer meetings and then finalized and prioritized through 1,920 surveys.
Voice of Customer Results Customer Need Quality Cost Delivery Satisfaction with Recruiting Process X Satisfaction with Recruiter X Satisfaction with Hiring Manager X 90-day Retention Rate X X Diverse candidate pools X X Recruiter Efficiency Measures X X Number of Hires X X Cycle Time (time to hire) X Total Recruiting Budget X Cost per Hire X
Measurement Weight / Importance Quality 10 Delivery 8
Cost 5
Utilizing VOC Results
A Successful Measurement Plan MUST HAVE… all measures that are important to the customer (aka: key process
drivers) customer-defined specification limits all measures weighted in relation to one another a single view of the overall performance of the process the ability to drill down and do additional analysis in order to
determine root cause of issues a pre-defined Response Plan to dictate thresholds and actions
An unwavering focus is necessary to build, implement and utilize a Recruiting Measurement Plan.
Fifth Third Bank Recruiting “Stock Price”
Recruiting Performance trending up
Exceeded customer needs for 13 consecutive months
Reason: Hiring volume is down relative to plan
Performance: Bank-wide
Drilling down through the data is necessary to understand our performance
Bank-wide Breakdown Quality 3.46 % over Customer Needs
Delivery 1.06 % over Customer Needs
Cost -1.24 % under Customer Needs
Cost Breakdown Recruiting Budget 1.8 % under budget
Cost per Hire 32 % over Customer Needs
Reason: Recruiter is not responsive in the eyes of our Hiring Managers
Performance: Recruiter Level Bob – Overall Quality 9.5 % under Customer Needs
Delivery 2.2 % over Customer Needs
Bob - Quality External New Hire Sat. 3.2 % over Customer Needs
Internal New Hire Sat. 1.3 % over Customer Needs
Hiring Manager Sat. 27.5 % under Customer Needs
90-day retention rate 5.2 % over Customer Needs
Bob – Hiring Manager Satisfaction
36.2 % under Customer Needs Responsiveness
6.8 % over Customer Needs Quality candidates
11.0 % over Customer Needs Knows the local market
8.4 % over Customer Needs Problem solving ability
Performance: Recruiter Level
All recruiters Bank-wide will be measured consistently
Key process drivers measured for each recruiter – as dictated by customer needs
Measures are incorporated into annual Performance Management Plans for each recruiter
Provides a “rolled-up” view of overall recruiter performance as well as drill-down capabilities
Includes a Rewards and Recognition plan
Change Management Key Obstacles for Implementation
— Culture Shift — Customer focus / client engagement — Employee Engagement — Possible “loss of control” perception from HR Business Partners
Buy-in required from key groups — Recruiting Leadership Team — HR Leadership — HR Business Partners — Line of Business Leadership — Recruiters
“About the only folks you’ll find who don’t like being measured are poor performers.”
- Managing Sideways, Price Pritchett
Change Management
Required elements — WIIFMs
— Solid understanding of the measurements Customer-focused Specification limits Logistics (data sources, frequency, etc.)
— Direct connection to Performance Reviews / Compensation
— How will the measurements be utilized
Change management began six months prior to implementation and extended six
months after implementation
Utilizing Our Measurements
Key Benefits: Better, faster, cheaper through… Easier identification of process / policy changes
Better able to coach and develop recruiting talent
Increased knowledge of “total costs” and “cost vs. volume”
Knowledge of how all measures relate to one another (no more silo-metrics)
Execution of our response plan
Monthly analysis on trends, key opportunities, etc.
Discussions with every customer grading us as “below expectations”
Revised monthly “stack-ranking” of all recruiters (and a direct tie-in to recruiter performance reviews)
Questions
Appendix
Measurement (Segmentation)
All measures are weighted in relation to each other
Overall Bancorp
Performance
Individual Region
Performance
Measurement (Segmentation)
Within each Region, Individual metrics are group
in terms of Quality, Cost, or
Delivery
Drill-down capabilities exist within each Region.
Measurement (Segmentation)
Each Quality, Cost, or Delivery metric is
comprised of key process
drivers
Drilling down to individual measures allow for easy identification of “opportunities for improvement.”
Measurement (Segmentation)
Even beyond the drill-down capabilities, additional data is available for analysis (e.g. segment by
individual recruiter, job grade, etc.)
Individual drivers can be
further segmented
LOB 4.30% Quality 88 10 43% 1.49%
External New Hire 2.21% 1.0 Ext New Hire overall Satisfaction w/ Recruiting Process (Q1) 4.50 4.58 4.50 0.00% 10 11% 0.00%
1.1 Given opportunity to meet w/ potential supervisor (Q27) 5.00 4.86 4.50 11.11% 1.2 Given opportunity to meet w/ potential co-workers (Q27_2) 4.75 4.43 4.50 5.56% 1.3 Given clear understanding of dress code and other bank policies (Q27_3) 4.00 4.29 4.50 -11.11% 1.4 Given overview of roles & responsibilities (Q27_4) 4.75 4.71 4.50 5.56% 1.5 Given overview of department, LOB, and its role within 5/3 (Q27_6) 4.50 4.43 4.50 0.00% 1.6 Given overview and timeline of the interview and hiring process (Q27_7) 4.50 4.57 4.50 0.00% 1.7 Given clear instructions of all logistical items (directions, appointment times, travel arrangements, etc.) (Q27_8) 4.75 4.71 4.50 5.56% 1.8 Given specific list of tasks to be performed (Q27_5) 4.50 4.57 4.50 0.00% 1.9 Smooth transition from being a candidate to being an employee (Q27_9) 4.75 4.71 4.50 5.56% 1.10 Given a tour of office and work environ. during recruiting process (Q27_10) 4.50 4.29 4.50 0.00% 1.11 Satisfaction w/ drug screening and background check process (Q27_11) 4.25 4.14 4.50 -5.56%
All graphs are demonstrative and do not represent anyone or any area of Fifth Third Bank. Fifth Third Bank, Member FDIC. Equal Opportunity Employer.