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A new look at the way personality inventories are used for hiring, and a product idea for LinkedIn. Full details at: http://wp.me/p3xOuN-g
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LOYOLA CHICAGO
GRADUATE SCHOOL OF BUSINESS
MARK 462 B2B Marketing
Value Proposition
The Cost to Recruit and Hire a new employee can average to
$15,000!• Advertising Expenses
• Recruiting Expenses
• Referral Fees
• Travel and Relocation
• Company recruiter costs
• Hiring the wrong employee can lead to greater employee turnover
• Employee Turnover can cost as much as
1.5 times a new employee’s salary!
Find the candidate who best fits the position:
Positioning
For companies looking to find and retain the right
candidates, Interlinked is the recruiting solution that will enable you to leverage
the world’s largest professional network to find qualified applicants for any type of position.
Recruiting companies
Temp Agencies
Specialized Recruiting sites
Direct & Indirect Competitors
Drink the K
ool-Aid!
• LinkedIn’s corporate hiring solutions are used by 82 of the Fortune 100 companies!
• LinkedIn provides you with the WORLD’S LARGEST pool of professional candidates:
• Over 150 Million Members
• Over 200 Countries and Territories
All information found at http://press.linkedin.com/about
Pre-Employment Personality Tests
• Used to gauge culture fit within an organization
• Moods change, personality does not
• Skills are easy to identify, culture fit is not
• Culture fit is as important to employee success as skill
• Used to match new candidates to your best employees
Why is PERSONALITY important
when evaluating a potential employee?
Fast and successful Integration of a new Employee in a company when his Personality matches with Company's values and philosophy
What HR Managers Are Looking for Employees: A Good Fit
• Experience
• Conceptual power
• Character
• Job-related skills
• Education
Problems with personality tests
• Tests are long
• Candidates try to "game" the test
• Employers can't be proactive, must wait for candidates to come to them
Our Competitive Advantage
• All LinkedIn Job Seeker members can take the test for free
• HR professionals who buy our service can match results to postings
• Test is only taken once
• Test is tied to profile, not to job posting
Current Market and Trend
• Long period between posting a job announcement and employee hired start date
• 8 different jobs between 18 - 32
• Employees expect to be hired by a new company
• Low performance
• High unemployment• Generation shift
• Need to fit to company's culture
Online Recruitng Market• Online recruiting is estimated to be $3 billion global
market
• Largest growth segment is small to mid-sized companies
Within Linkedin, the Hiring Solutions group comprises 50% of the total revenue
• Revenue was $84.9 million for 2011 increasing 136% compared to the prior year
• At the end of 2011, there were over 9,200 enterprises under contract with Hiring Solutions
Segmentation / Targeting
HR Manager & Small Business
Linkedin member
Smart Recruiting
• Weed out the wrong candidates before the interview.
• Select based on more than qualifications.
• Receive only relevant applicants.
• LOWER RECRUITING COSTS.
SWOT
Strengths1.Time-saving for employer2.Applicants find ideal career3.Realize potential employee personality4.Reducing employee turnover5.Reduce cost (economical)
Weaknesses1.No motivation2.May not be accurate3.One-time test4.Time-consuming for applicants
Opportunities1.No government regulation - restrictions2.Ease discrimination3.Self-understanding4.High unemployment rate
Threats1.Applicants may refuse to take the personality test2.A variety of social media- Strong potential Competition
Social Media Integration
Customer Relationship Management
Linkedin uses Salesforce to manage their customer information
o Mine the data from Linkedin for trends and correlationso Generate 50 preset leads for sales which are entered into
Salesforceo Work in person and online with large customers to help
them continually evaluate what is important to them in terms of their evolving talent needs
The focus on SMB's will require additional marketing and sales staff to manage this new target market
Financial PlanPricing of our Product?
Our Direct/ Indirect Costs?
Timeline?
Currently LinkedIn offers 3 Talent Finding Subscription Plans
-Talent Basic; Annual $39.95/ a month or $49.95/a month
-Talent Finder; Annual $74.95// a month or $99.95/a month
-Talent Pro;; Annual $399.95/ a month or $499.95/a month
http://talent.linkedin.com/jobs-for-you-adshttp://talent.linkedin.com/jobs-network
Direct Costs- Development costs,
Thank you!