The Quest to Quantify: Measuring the impact of you talent brand

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The Quest to Quantify: Measuring the impact of you talent brand

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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.

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We know that Talent Brand is important Source: LinkedIn Global Recruiting Trends Report, Nov 2014

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Candidates tell us it’s important Source: LinkedIn Talent Trends Report, March 2014 56%

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But how do you prove your talent brand is important?

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Learn the language Find your partners Measure what matters Beware of pitfalls Get started 6 5 Steps to measure your talent brand

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Learn the Language Step One

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8 Employer Brand n. How you, the employer, promote your company as a place to work

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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

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50% of professionals around the world discover new job opportunities through word of mouth

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Find Your Partners Step Two

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13 Company brand and talent brand are two sides of the same coin.

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LinkedIn Talent Brand Index Lippincott Customer BrandView Index 36% 28% -6% 10% High Low High Low Cumulative Growth in Shareholder Value over 5 years:

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Measure what Matters Step Three

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17 However beautiful the strategy, you should occasionally look at the results. Winston Churchill

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Know the goal: Attract Engage Pipeline

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6.3 million

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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 salary 250 working days Simple Salary Multiplier X Total Annual Revenue Generated by Position 250 working days

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4 simple metrics

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22 Metric 1 Social Media Follower Quality Know who your followers are: Function Seniority Industry Company size Adapt your talent brand strategy for different audiences

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Track targeted follower change as part of overall follower growth 23 Tips for visualizing your success

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Plot campaigns against key success metrics to see correlation 24 Tips for visualizing your success

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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

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26 Global e-commerce company has huge uptick in response rate from engaged talent

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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

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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

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Stack quality vs. non-quality candidates on a chart 29 Tips for visualizing your success

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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

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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

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32 Bonus Metric New hire alignment Monitor the authenticity of your talent brand with a new hire alignment check

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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

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Graph alignment over time, preferably by function 34 Tips for visualizing success

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35 Seeing poor alignment? Tips on how to adjust You’re not sharing enough 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 - Founder Red Pill Talent

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Step 4 Beware of pitfalls #1: Forgetting that branding is both a science and an art #2: Measuring for the sake of measuring #3: Analysis paralysis

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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

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