Return on investment referenced and edited by beta research 20160404

20160404 Reedit from Microsoft

RETURN ON INVESTMENTOF THE RECRUITING PROCESS

Overview Benefits of effective recruiting. The recruiting process and its bottlenecks. Stigmas associated with HR technology. Executive-level messaging. Key metrics to monitor and track. Best practices in evaluating current processes, tools, and

ROI.

Agenda

Human capital management is acompetitive differentiator.

Time-to-hire, cost-of-hire, andquality-of-hire are key recruiting metrics.

Technology helps address key issues. Costs must be measured throughout the process

and optimized with the right technology at the right location.

Overview

Minimizes hard costs. Minimizes missed opportunity costs of not having a position

filled. Improves productivity and longevity. Drives organizational improvements, productivity,

and results.

Benefits of Effective Recruiting

Candidates

VendorsClients

Recruiter (Team)

Candidate generation

Response management

Screen & select

Need definition

Hire

Recruiting Process Overview Relation Management to

qualify the prospect is the key to CRM or

XRM for Vendors and Clients

It is a good step and process to

link your personnel into the

CRM as part of the CRM

especially sales and marketing

But also the rest

Qualify Candidates based

on QF

1Candidategeneration 2

ManageResponses 3

Screen &SelectCumbersome

online forms

High volume

Many formats

Non-resumes

input

Hard to search

Hardto exchange

output

Modify this diagram to describe your recruiting process or insert your own diagram. Optimize the recruiting process by targeting known problem points.

Recruiting Process Bottlenecks

Understanding the Labor Market is a Key Success factor to a good Job Management Processes or HR

Companies do not understand the entire recruiting process and miss critical steps in their analyses, resulting in incomplete analyses.

Companies provide anecdotal evidence only and have no real data available to support their ROI arguments. The data is available; however, HR doesn’t know where to find it.

Stigmas of HR Technology

Set you standard processes

Never underestim

ate the value of

ANY Data

The ROI models are theoretical. Models are too complex and take too long to complete. Models do not use real client data. Models fail to address the critical business issues of

executives in client organizations.

Stigmas of HR TechnologyCONTINUED

Manage the Yield based on people involved directly with the value

chain

Identify issues and present solution options. Present a logical ROI model that flows easily. Use real data from the organization itself. Clearly state assumptions. Provide conclusion in terms of cost savings,

productivity and process improvements,and results orientation.

Executive-level Messaging

Do this in one dayIn the second

implement something

Although planning is futuristic

Time-to-hireThe total time required for hiring.

Quality-of-hireHow satisfied an organization is with a hire.

Number of vacancies outstanding The total number of job vacancies

the company has. Cost-per-hire

The total cost associated with a givenposition and hire.

Key Metrics to Monitor and Track

Monitoring Officer or Employee should be dedicated

Longevity-of-hires How long new hires stay with the company.

Recruit source effectivenessThe effectiveness of each source the

company uses to generate candidates. Time-to-productivity

The time it takes for a new hire to becomeproductive in their new role.

Key Metrics to Monitor and TrackCONTINUED

This applies especially on

large numbers and higher quality

Issue Best practices to improve recruiting process ROI

Cumbersome online forms

Implement electronic résumé processing to speedonline applications through process.

Standardize résumé data extraction to optimize effective data integration, exchange, and search applications.

Do not allow upload of résumé—this has to occur in order for data extraction technology to be optimized.

Large résumé volumes

Implement electronic résumé processing to speed online applications through process.Utilize common data formats and database schemas to optimize data usage and value.Utilize technologies to process résumés effectively and efficiently through internal

resources.

Many formats Utilize technologies that accept and process multiple résumé formats and languages.

Best Practices for Recruiting ProcessTime SavingEffort Saving

AccuracyOne data source


Paper and fax-based résumés and applications

Use third-party paper/fax résumé processing servicesthat optimize the relationship between cost-per-résuméand data quality.

Hard to search Implement and utilize résumé database search technologies that operate quickly, require little experience to use, and provide short lists of candidates.

Hard to exchange candidate data

Implement technologies that use common data exchange formats such as HR-XML.

Best Practices for Recruiting ProcessCONTINUED

Resume Database and Job

Databanks are key success

factors


Understandingthe process

Interview people involved in the recruiting process to understand the entire recruiting process.

Offer models that can be modified to gain a clear picture.Offer solutions that optimize the process and, hence, ROI.

Numbers notbelievable

Develop before-and-after studies with customers as part of the justification process.Use study results as part of an aggregate data offering.

Tools to helpexecutives sell

Use executive contact to understand key business issues.Create and offer logical ROI models that allow clients to enter their own data and

determine the resulting impacts.Provide models in word-processed or spreadsheet formats.


See if you need really to calculate ROI and for what

benefits


Time-to-hireQuality-of-hire

Number of vacancies outstandingCost-per-hire

Longevity-of-hiresRecruit source effectiveness

Time-to-productivity

Determine items critical to business success.Measure preprocess and post process or technology implementation.Compare vacancies against industry-leading benchmarks.Have vendors work to provide models and tools for collecting and

evaluating data.Report performance regularly as part of standard management

reporting package.Develop programs to address process deficiencies in individual

benchmark areas.


Read and try to apply this in your mind before you thing you can or

need to do it

Beta-Research for Management and Technology Research [email protected] Work Done by Microsoft Template and HR Concept Best Research focuses on the followings

Single Window and One Stop Shop Architecture and Design Labor Market Information and LMIS Architecture and DesignBusiness Process Re-engineering and Process manuals for○ Internal Procedures (SOP) and Quality management ○ Industrial Processes and Indicators Management ○ Licensing Processes for government and non government divisions

Value Chain and Supply Chain Analysis

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