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Serial Monogamy
Leading the Charge, Driving the Change: Why Innovators Will Win the War for Talent
Dan Finnigan CEO, Jobvite
Geography of Jobs
Source: http://tipstrategies.com/geography-of-jobs/ #Jobvite
Unemployment Getting Better But Slowing
Unemployment rate, Seasonally adjusted
Nonfarm payroll employment change, Seasonally adjusted
-800
-600
-400
-200
0
200
400
600
Jan-
08
Jun-
08
Nov
-08
Apr
-09
Sep
-09
Feb-
10
Jul-1
0
Dec
-10
May
-11
Oct
-11
Mar
-12
Aug
-12
Jan-
13
Source: BLS.gov
Anyone Remember This?
Today Does Not Feel Much Better
#Jobvite
Tomorrow You Will Lead the Tribe! Only With Courage, A New Approach, Hard Work and the Right Weapons!
Growing Awareness: Talent Matters Most
Source: Boston Consulting Group, Realizing the Value of People Management; From Capability to Profitability, August 2, 2012
People Companies Outperform the Market Average
#Jobvite
Recruiting Delivers 40% More Profit Growth Than Next Best HR Function
Source: Boston Consulting Group, Realizing the Value of People Management; From Capability to Profitability, August 2, 2012
#Jobvite
Recruiting will be one of the hot careers in the next decade
14% Y/Y increase Most commonly advertised job title: Recruiting Source: Wanted Technologies #Jobvite
Why? 1.Business Need Skilled Talent More Than Ever 2.Talent Is Becoming Increasingly Scarce Worldwide 3.Talent Is Choosy, Savvy Consumer of Opportunities
The recruiters who transform themselves into marketers become as importantif not more
than any function. #Jobvite
Jobs In Future Require Education
Source: Bureau of Labor Statistics 20%
22%
17%
18%
18%
12%
14%
Doctoral / professional degree
Master degree
Bachelor degree
Associate degree
Some college
High school
Less than high school
% Change Employment 2010- 2020
Source: Bureau of Labor Statistics #Jobvite
Most Advertised Openings in U.S. Today: All But Two Require College
1. Computer Occupations 2. Health Diagnosing and Treating Practitioners 3. Other Management Occupations (inc. HR) 4. Financial Specialists 5. Business Operations Specialists 6. Sales Representatives, Services 7. Engineers 8. Information and Record Clerks * 9. Advertising, Marketing, Promotions, PR, and Sales Managers 10. Supervisors of Sales Workers *
#Jobvite Source: Brookings Institution
U.S. App Economy Jobs
before the iPhone
0 current day
477k Source: TechNet, The App Economy
Mobile Applications Engineer
iPhone Application Developer
Social Media Manager
User Experience Analyst
Android Developer
Virtualization Architect
Mobile Marketing Strategist
iPad Game Developer
API Platform Manager
SHRM: Companies Anticipate Needing More College Graduates
High school dimploma or equivalent only
Specific post-secondary certificate/credential(s)
Associates degree
Bachelors degree
Advanced degree (e.g., masters, MBA, Ph.D, M.D.)
9% 63%
27% 28%
61% 11%
18% 69%
13% 56%
42% 2%
56%
1% 44%
Increase Stay the same Decrease
Percentages may not total 100% due to rounding.
SHRM/Achieve Survey: Changing Employee Skills and Education RequirementsChanges in the Workforce SHRM
#Jobvite
Working Age Population Shrinking Worldwide
Source: Deloitte Research, UN Population Division (http://esa.un.org/unpp/)
#Jobvite
Creating A Serious Shortage
Source: Bureau of Labor Statistics, Current Population Survery #Jobvite
Growing college completion gap between
Source: New York Times, Stanford University
0%
20%
40%
60%
born 1979-82
born 1961-64
rich
poor
rich and poor:
#Jobvite13
Battle of the Brains (US-based schools listed in blue)
Source: PR Newswire #Jobvite
Battle of the Brains (US-based schools listed in blue)
Source: PR Newswire
#Jobvite
STEM Growth Is Too Slow
11.5
10.6
9.3
8.1
8
4.5
4.5
Business
Social science
STEM
Education
Humanities/arts
Health
Other
Millions of grads by specialization CAGR, 2010-20
Source: McKinsey Global Institute
1.2
1.7
0.8
0.4
1.7
4.3
3.3
#Jobvite
Severe Shortage Of STEM Graduates In US
92 Parks, recreation and fitness
98-08 %
Source: SunSentinel, 2012
STEM Jobs STEM Degrees
50,000 Shortage in Florida Alone
64,000
14,855
#Jobvite
engineering 66 % doctorates 50 % plan to stay tech 45 % science + doctoral 35 % degrees
Source: CNN Money
Immigration Debate In DC
764,321 foreign students enrolled in
U.S., up 5.7% in 2011
U.S. world share dropped 25% to 18% -
now up to 21%
H1B Visa capped at 85K (20K for those with Advanced Degrees)
Proposed Bill: Increase to 115K 300K
New Study: No shortage of STEM?!?
#Jobvite
Only 29% of Applies Come From College Graduates; Only 13% STEM Graduates
Bachelor of Arts 10%
Bachelor of Science 10%
MBA 5%
Master of Science 3%
Master of Arts 1%
No Degree 71%
#Jobvite
10X Programmer Talent Agency
Source: HBO
Gen Y Dominates Workforce in 5 Years
0
25
50
75
100
125
150
175
200
225
1990 1995 2000 2005 2010 2015 2020 2025 2030
Pre-Boomers Baby Boomers
Generation Generation Y and beyond
SOURCE: U.S. Bureau of the Census, projections based on 2000 Census
popu
latio
n ag
e 18
-64
(mill
ions
)
2011: The Baby Boomers reached retirement age
2030: Gen X reaches retirement age
2018: Gen Y makes up half of the working age population
Dans Turn
Talent as a Consumer One Size Does Not Fit All
Each generation approaches work differently, shaped by the economic, social and political forces of their time.
Source: Manpower #Jobvite13
Talent as a Consumer: Layoffs Have Permanently Changed The Deal Between Employers and Employee
1973 - 1975 1981 - 1982 1990 - 1991 2001 2007 - 2009
Employment
Productivity
-0.65 -0.53 -0.45 -0.27 -0.70
Source: US Bureau of Economic Analysis; McKinsey Global Institute
Breakdown of GDP decline during last five recessions
Fewer gold watches
Source: BLS, Fast Company
51
05 80
39
35 64 10 in their job for >
% %
men yrs to
#Jobvite
Source: BLS, UCSF
21 % U.S.
California
39 %
Fewer gold watches
10 in their job for > yrs
05 05
#Jobvite
Gen Y And Californians Changing Jobs Every 3 Years: That is 15-20 Jobs A Career
Source: www.fastcompany.com/magazine/162/average-time-spent-at-job-4-years
median tenure in current job:
U.S. 4.4 yrs
Californians ...and Millennials
3.0 yrs
of all new college grads believe that
self-employment is more secure than a full-time job.
Source: Wall Street Journal, Gallup
Recruiting Is Marketing
The aim of marketing is to know and understand the customer so well that the product or service fits him and sells itself. Peter Drucker, management consultant, educator, and author
#Jobvite
Recruiting Is Marketing: The New Five Ps of Marketing
Product: Define Broadly Around Customer Experience Price: Provide Competitive Value Promotion: ROI-tracked Marketing Mix of Media, Content,
Message & Growing Brand Placement: Many, Convenient and Inspiring Ways to Buy Process: All Efforts Working As One Optimizing Funnel
#Jobvite
Recruiting Is Marketing
Product Price Promotion Placement Process
Old School
Feature-Focused Definition (Conjoint Analysis)
Suggested Price Lists
Retail chains Sales channels Catalogs Partners
Brand, Advertising (Radio, TV, Print), Mail, Catalogs
Quarterly reports, post- mortem, new version launches
Today: Optimization
Customer-Experience Focused Definition
Freemium, performance-based, loyalty programs
Customer experience within: Retail store E-commerce Free-trials Customer service
Brand, SEO, Search Engine Marketing, Content, Social media, CRM
Real-time, data-driven optimization of product-to-sale funnel
Recruiting
Employee-experience Focused Definition of role
Requirements, perks, flexibility, benefits, compensation
Candidate experience within: Job Boards Career Sites Apply Process Interview Process
Recruitment brand, culture, on-line marketing mix for jobs & careersite(s)
Real-time, data-driven optimization of the opening-to-hire funnel
Marketing Starts by Understanding Your Target Like A Marketer Would: 80 Million Gen Y
Exercised vigorously in last 24 hours 46 %
Saw email usage drop in 2011 27 % Have a tattoo 39 % Started a business on the side 35 %
Think helping the poor most important issue 21 % #Jobvite
#1 and #2 Product & Pricing: Design Roles for Their Future, Not Just Yours
1. Explain Company Vision 2. Prioritize Community Service 3. Develop In-Between Steps And Titles 4. Give Encouragement & Regular Feedback 5. Offer More Flexibility 6. Provide Education and Professional
Development 7. Give Them Time for Personal Projects
7 Ways Beyond Compensation To Improve Job Attraction
Gen Y are Job Shoppers; 88% are looking to make a change
Salaries guidepost for value and staying on track, but NOT differentiation
51% of new employees hired in
2012 have buyers remorse
Source: HBR: Blog Network: What Job Candidates Really Want: Meaningful Work #Jobvite
#3 Promotion: Big Brands, Especially Strong Consumer Brands, Have Big Advantages Top 5 of 50 Top Employers for College Grads
#Jobvite
#3 Promotion: Gen Y Wants Authentic Brand Experiences
Make Your Culture Your Brand Culture Is Emotional
Marketing Learning That Decisions Made By Lymbic (Lizard) BrainFocus Messaging & Promotion On Emotional Connection
Engagement Survey of Top Performers and Develop Value Statements
Mold All Marketing Messaging Around Effort Employee stories and testimonials
Successful If Portrayed Culture So That Best Candidates Select In and Mismatched Select Out
Source: ERE Recruiting Conference 2013 by Randall Birkwood #Jobvite
Have A Company Mission That MattersAnd, It Helps To Authentically Provide Social Good
#Jobvite
HubSpot Mission
Brand: Join the Flock And Help Find Meaning
#Jobvite
Step Inside KixeyeIf You Have What It Takes!
Imagine Being In Jobvites Family!
#3 Promotion: Advertising & Distribution
Track All Advertising & Distribution
SEO: Jobs (and Content) Pages
Careersite Distribution & Promotion
Social and Employee Referral
#Jobvite
Applications by Source Type 2013
Job Board 42.4%
Career Site 38.2%
Agency 2.2%
Employee Referral
8.5%
Notifications / Talent Pool
1.2%
Transfers 1.2%
Other 6.2%
Career Site up by 6% Emp Referral up by 1.3% Transfers are significant
#Jobvite
Hires by Source Type 2013
Job Board 17.1%
Career Site 21.0%
Agency 4.7%
Employee Referral 40.4%
Notifications / Talent Pool
0.4%
Transfers 7.1%
Other 9.3%
#Jobvite
Faster hiring through employee referral 2013
Source: Jobvite
29
45
39
Emp Referral CareerSite Job boards
Employees hired through employee referral are hired 55% faster than those who came through career site.
46% 45% 47%
33% 35%
39%
22% 20%
14%
Over 1 year Over 2 years Over 3 years
Hired Faster Better Quality
#Jobvite
Half of Career site Visitors Do Not Return
One Time Visitors 49% Return Visitors
51%
#Jobvite
Remarketing Is The Way Marketers Handle Abandonment
Brand Site
Ad on another site Customer #Jobvite
#4 Product Placement: Many, Convenient, And Inspiring Ways to Buy
1. Starts with Careersite: Easy to find, follow, and engaging
Prospect and Candidate Experience = Shopping Experience (think Nike and Apple!)
#Jobvite
High Bandwidth Careersite Experience
#Jobvite
#4 Product Placement: Many, Convenient, And Inspiring Ways to Buy
1. Starts with Careersite: Easy to find, follow, and engaging 2. Apply Process: Simple, clear, anywhere
Prospect and Candidate Experience = Shopping Experience (think Nike and Apple!)
#Jobvite
Easy To Buy Easy To Apply
More On This Later Today
#Jobvite
#4 Product Placement: Many, Convenient, And Inspiring Ways to Buy
1. Starts with Careersite: Easy to find, follow, and engaging 2. Apply Process: Simple, clear, anywhere 3. Interview Process: Collaborative (2-way)
Prospect and Candidate Experience = Shopping Experience (think Nike and Apple!)
#Jobvite
#4 Product Placement: 2-Way Collaboration
#4 Product Placement: Many, Convenient, And Inspiring Ways to Buy
1. Starts with Careersite: Easy to find, follow, and engaging 2. Apply Process: Simple, clear, anywhere 3. Interview Process: Collaborative (2-way) 4. Feedback: No black hole
Prospect and Candidate Experience = Shopping Experience (think Nike and Apple!)
#Jobvite
Easy-to-See Application Status
1.
Funnel / Lead Generation / Marketing Automation
#5 Process: All Efforts Work As One Optimizing Funnel
1. Multi-Channel Multi-Media Campaigns
2. Provide Target Personalized Direct Mail & Landing Pages
3. Lead Score Hot, Warm, Cold
4. Marketing Automation Next Automatic Event -Send personalized email -Send personalized product interest info -Send e-newsletter -Send personalized direct mailer -Send personalized press release -Send blog link
5. Measure, Adjust, Redo
36%
23% 20%
12% 8%
4%
0%
30%
60%
Sourcing Hiring Assessment EmployerBranding
Onboarding Screening
Source: Aberdeen Group, Strategic Sourcing EARLY FINDINGS, February 2012
#5 Process: Sourcing At Top Of Funnel A Top Priority
#5 Process: Track and Measure Sourcing Funnel
Employee Referrals
Campaigns
Overall
Talent Pool
#5 Process: Cant Afford To Advertise Over and OverMust Build and Nurture A Database of Prospects
#Jobvite
The Marketing-Skilled Recruiters Who Target & Catch Their Game Will Become The New Leaders of Future!
8 of the 11 Top Tech IPOs use Jobvite to power their hiring
3 of the 5 Top Performing IPOs use Jobvite to power their hiring
13 out of 17 expected Tech IPOs in 2013 use Jobvite to power their hiring
Jobvite Powers Sourcing & Hiring For The Fastest Growing Companies
#Jobvite
Thank you
Slide Number 1Slide Number 2Slide Number 3Anyone Remember This?Today Does Not Feel Much BetterTomorrow You Will Lead the Tribe!Slide Number 7Recruiting Delivers 40% More Profit Growth Than Next Best HR FunctionRecruiting will be one of the hot careers in the next decadeWhy?Jobs In Future Require EducationMost Advertised Openings in U.S. Today:All But Two Require CollegeU.S. App Economy JobsSHRM: Companies Anticipate Needing More College GraduatesWorking Age Population Shrinking WorldwideCreating A Serious ShortageGrowing college completion gap betweenBattle of the BrainsBattle of the BrainsSTEM Growth Is Too SlowSevere Shortage Of STEM Graduates In USSlide Number 22Only 29% of Applies Come From College Graduates; Only 13% STEM GraduatesSlide Number 24Gen Y Dominates Workforce in 5 YearsTalent as a ConsumerTalent as a Consumer: Layoffs Have Permanently Changed The Deal Between Employers and EmployeeFewer gold watchesFewer gold watchesGen Y And Californians Changing Jobs Every 3 Years: That is 15-20 Jobs A CareerRecruiting Is MarketingRecruiting Is Marketing:The New Five Ps of MarketingSlide Number 34Marketing Starts by Understanding Your Target Like A Marketer Would: 80 Million Gen Y#1 and #2 Product & Pricing: Design Roles for Their Future, Not Just YoursSlide Number 37#3 Promotion: Gen Y Wants Authentic Brand ExperiencesHave A Company Mission That MattersAnd, It Helps To Authentically Provide Social GoodHubSpot MissionBrand: Join the Flock And Help Find MeaningStep Inside KixeyeIf You Have What It Takes!Imagine Being In Jobvites Family!#3 Promotion: Advertising & DistributionApplications by Source Type 2013Hires by Source Type 2013Faster hiring through employee referral 2013Half of Career site Visitors Do Not ReturnSlide Number 49#4 Product Placement: Many, Convenient, And Inspiring Ways to BuyHigh Bandwidth Careersite Experience#4 Product Placement: Many, Convenient, And Inspiring Ways to BuyEasy To Buy Easy To ApplySlide Number 54#4 Product Placement: Many, Convenient, And Inspiring Ways to Buy#4 Product Placement: 2-Way CollaborationSlide Number 57#4 Product Placement: Many, Convenient, And Inspiring Ways to BuyEasy-to-See Application Status#5 Process: All Efforts Work As One Optimizing FunnelSlide Number 61#5 Process: Track and Measure Sourcing Funnel#5 Process: Cant Afford To Advertise Over and OverMust Build and Nurture A Database of ProspectsSlide Number 64Slide Number 65Thank you