On July 18, ERE.net featured “How to Really Calculate the Cost of Employee Turnover,” which highlighted a few key metrics that factor into the real cost of turnover. The opening statement stands out:
Employee turnover costs are often described with generic numbers such as “$X,000.00 per employee” or “X percent of annual salary.”
Turnover cost, specifically “X percent of annual salary” — which can also be translated to $$, is one of the most effective KPIs to use in achieving the real measure. They tell a much deeper story than the “generic” term implies, and they are much easier to use. In 2010, while doing research at Aberdeen Group, we found that most companies use replacement costs to measure the cost of turnover. After taking out some outliers in high-volume/low-skill environments and some very high-level C-suite and management consultants, the analysis showed on average that using 86 percent of starting salary is a very fair estimate of the cost of turnover. NOTE: One of the research notes where this finding was published can be found here (page 2).
Here are four reasons why this metric is effective and not as generic as one might think: (more…)
Over the past seven years I have been fortunate to travel to more than 50 cities in 30 countries to share my employer branding knowledge and experience with thousands of leaders. The No. 1 issue that continues to draw discussion and debate is whether employer branding should be a human resources or marketing function — or both! There are also a number of leaders which support the view it requires a combination of expertise from multiple functions to effectively deliver an employer brand strategy that builds value.Declining Role of HR (more…)
We all know that recruiting is about connecting with candidates on multiple levels: practical, emotional, and aspirational. Employment branding and marketing can make a big contribution toward that. Today many recruiting organizations still see “recruitment marketing” as optimizing their job board strategy. But there is so much more that can be done with a true employment branding strategy. Getting this right will help you stand out in your market, generate pipelines more easily, and most importantly of all attract the top talent in your industry.
To define your employment brand, consider these factors: (more…)
A slight change in perspective and/or approach will be required in this Indeed-sponsored webinar, hosted by none other than Marvin Smith. Instead of a role in talent acquisition, pretend you’re now a marketing product manager, with our “challenge” being we need to improve the product quality of candidates. Expect the following and more to be covered in this upcoming webinar:
- A look at the “3 areas of impact”: the hiring teams, the talent sourcer/recruiter, and the target talent
- How to “shake things up” for you/your organization and what that entails
- And so much more!
This will be a great webinar with an opportunity to put yourself in someone else’s role and to see things from a different perspective. Hurry and register now for this webinar.
Can’t attend on September 25? No problem! Register and you’ll receive an email after the webinar with links to the webinar slides and the recording!
A contest for people to submit their favorite interview questions yielded the interesting, the odd, the useful, the insightful, and the obscene. They included such questions as: “What is your favorite palindrome?” and “Why did America stop selling War Bonds?”
And some I can’t publish without washing my own mouth out with soap.
The contest, put on by VoiceGlance, ran in a 10-week period in May, June, and July. Most of the answers came in via LinkedIn groups, and were sent in by HR managers, recruiters, and some job seekers in the U.S., India, China, Nepal, Malta, the UK, and Canada.
Here are the questions turned in, and at the end of this post, some of the questions the judge — me — selected as winners.
(I generally tried to pick questions that were related to actual success on the job. Suffice it say, I didn’t pick any questions about your favorite barnyard animal, and I didn’t pick the one about “what does family mean to you?”)The Questions Submitted (more…)
Believe it or not, not everyone’s been at the Hamptons, Martha’s Vineyard, or running around getting the kids’ school supplies this month.
There are even a couple newer recruiting-technology companies you may not know of: (more…)
This is the final part of a two-part research-based series that is designed to reveal and describe the four categories of factors that restrict the recruiting of STEM women (i.e. women with degrees in Science, Technology, Engineering, or Math) into high-tech firms.
In part one we highlighted Category 1, the lack of a short-term impact associated with efforts to increase the supply of STEM women, and Category 2, the top barriers that restrict STEM women from applying for and accepting new jobs. Our research and analysis indicates that there are two more major categories of factors that inhibit STEM women from changing jobs. Those factors will be covered in Category 3, the corporate cultural frustrators that discourage STEM women from being recruited into new jobs, and Category 4, biases against women in the hiring process of high-tech firms.
CATEGORY 3 — The corporate cultural frustrators That Discourage STEM Women From Being Recruited Into New Jobs (more…)
For your water-cooler chatter pleasure, I offer you a recruiting video from China, news about how some of you have a happy job, and a job posting from the Postal Service which is seeking a RIFmaster.
(Note to pop culture enthusiasts: The picture here relates to that last item. Points to everyone who can identify the show and the character. Extra points for the episode.) (more…)
If you’re not a “creative,” you’ve probably been annoyed by a creative’s lack of organization or follow-through at some point. You may even be reveling in the recent onslaught of articles arguing that creative employees only waste time and money.
But no matter how “Type A” you are, you can’t afford to overlook creatives’ potential in this increasingly innovation-focused market. (more…)
The monthly report on time to fill and recruiting efforts says that on average it took 24.9 working days (Monday-Saturday) in June to post, source, and hire a new employee. That’s more than nine days longer than it took at the height of the recession in July 2009. Then, the average was 15.3 working days.
The report produced by careers sites publisher Dice Holdings Inc. follows a report Tuesday from the Labor Department on job openings and turnover. The report showed there were more job openings in the country — 4.7 million as of the last day of June — than at any time since February 2001. In June 2013, there were 4 million openings. (more…)
Hiring is a complex process, but optimizing it is surprisingly simple. Before posting your job listings online, consider asking yourself “Is this job ad grabbing the attention of applicants?” as well as “Is this job ad gaining the right exposure online?”
Placement is crucial to finding the right candidates, and using the right actions words will drive response. Ad development requires diligent keyword research and an understanding of your competition.
Here are some things you need to know about hiring optimization for job boards.Understanding Your Competition
Take the time to research your competition. Find out what they are doing to generate attention with their job listings. Read over their job listings to identify the terms they are using — including the job titles. Compelling information for a job listing is found within the first sentence or two. Target those keywords and start naturally integrating them into your job listings to see an improvement in the visibility of your ads.
To create an ad that clearly targets the right market, you need to know the research keywords associated with your target pool. Active job seekers will use search engines to find jobs. Search engines work primarily through keywords. To have effective advertising you need to first have effective keywords. Choose keywords related to the job description and title, as well as the city and state in which the company is located. Including location is particularly important because it allows individuals searching locally to be funneled to your ad, as well as people from out of state hoping to find employment in your specific area. (more…)
Strategic thinking is obviously a key trait that you are looking for in a potential new-hire candidate, what if there was a way to gauge that without all of the costs associated with actually hiring the candidate? It can be quite discouraging to hire the potential candidate only to find that they are not a strategic thinker and then you are back to square one trying to fill that role. Well with the introduction of “gamification” on the scene that is now a realistic option. Please join host Mark Chussil as he shares the following and more in this upcoming iCIMS webinar:
- Defining “gamification” and how to incorporate it
- Discover what business games reveal about a potential candidates thinking
- Experience a business game in real time yourself!
This webinar is guaranteed to be as equally informative as it is entertaining and fun! Hurry and register now as the date is closing in fast.
Date/Time of Webinar: August 20th, 2014 at 2:00pm EST
Registration Link: https://cc.readytalk.com/r/lftnnon4nyzd&eom
Please note that this webinar will NOT be recorded. Make sure you REGISTER so you do not miss out on this opportunity to hear ERE Spring Keynote Speaker Mark Chussil discuss How Gamifying Helps You Recruit and Develop Actual Talent!
Yesterday I listed seven operational habits that characterize unsuccessful recruiters. In this second part, I examine not only the actions that distinguish the successful recruiters, but also the talent mindset that must be adopted. It is the capacity to embrace a “paradigm shift” in your recruiting philosophy that really determines how successful you will be in your talent acquisition efforts.
First, let’s stop fooling ourselves. (more…)
One-stop hiring shop Hireology got an infusion of $10 million in venture capital, an investment that not only will help the HR software vendor expand, but also is an endorsement of the company by a leading HR VC firm.
Bain Capital Ventures, which provided capital financing to such companies as Taleo and LinkedIn, says Chicago-based Hireology has “strong growth potential.” Mike Krupka, Bain managing director, noted the recruiting-specialist firm, founded in 2010, grew “from a promising start-up into a major player in the HR technology field, providing easy-to-use talent management technology to organizations that previously did everything manually.” (more…)
Most strategic recruiters seek to optimize the three most important factors in talent acquisition — cost, time, and quality. However, that objective is often impossible to accomplish because recruiters continue to use outdated talent processes which were designed back in the 1980s.
Stephen Covey, in his ground-breaking best seller — 7 Habits of Highly Effective People – introduces timeless principles that form the framework of the changes that individuals must adopt to become more effective. But, before one can embrace the seven habits, Covey proposes adopting of a “paradigm shift”– a change in perception and interpretation of how the world really works. Similarly, recruiters must be willing to adopt a paradigm shift in how they view the world of talent acquisition — if they hope to be successful in sourcing, recruiting, and hiring the very best talent in today’s war for talent.
For example, it has been my experience that “average” to “good” recruiters follow similarly dated talent strategies: (more…)
We are deeply disturbed at the “there’s little we can do” attitude of the leadership at most major tech firms towards increasing the number of STEM (i.e. Science, Technology, Engineering, Math) women recruited into their firms. The leaders of these firms seem to think that their posting of shallow diversity metrics was sufficient. Because males dominate many of the high-tech leadership roles, it’s a bit arrogant for them to assume that they know and understand the barriers that STEM women face.
Instead, we propose they use a more scientific approach that uses survey research techniques to identify the actual barriers that STEM women face when applying for a job in a high-tech culture. Only after you pinpoint the actual barriers can executives then take the precise steps necessary to mitigate or overcome those barriers. Rather than waiting for these hesitant leaders at high-tech firms to act, we have been conducting our own interviews and survey research with the goal of identifying each of the barriers that STEM women recruits face. Our research has found that there are four categories of factors that contribute to the STEM women recruiting problem.
They are 1) the weak supply; 2) the perceived barriers that restrict them from applying for jobs; 3) the negative male culture that frustrates and discourages women; and 4) the biases against women embedded in most corporate hiring and promotion processes.
In this part 1 of a 2-part article, we will address the first two categories, the weak supply of STEM women, and the perceived barriers that restrict STEM women from applying for jobs. (more…)
Some recruiting tactics are actually doing more harm than good, reducing the organization’s candidate pool and tarnishing its reputation in the process.
Check if your organization’s recruitment department follows any of these pervasive behaviors setting the wrong standards: (more…)
What’s better than a hosted networking party at a recruiting conference? How about 20 pounds of Tannerite and a small arsenal of weapons, including a semi-automatic AR-15?
I’m practically giddy with appreciation for LinkedIn’s Davy and Goliath battle with startup HiringSolved. Not familiar with it? Here’s the short version: HiringSolved scraped; LinkedIn sued; HiringSolved surrendered. Now, as part of the settlement, the talent profiling aggregator has to destroy the data it collected from LI. (more…)
Susan’s interview was coming to an end. Overall, she felt pretty good about it. She realized she could have done a better job of making eye contact a couple of times early on, but she had been nervous and it had taken her a while to loosen up. However, she was confident that she had nailed the high fidelity simulation component and the questions were all pretty much what she had expected.
Susan made a point of thanking the three-person interview panel (Janet, the company’s VP of engineering, and her two deputies, Bill and Huang) and making sure no one had any final questions for her.
Then she disappeared. (more…)
ERE Webinar: Candidate Experience – Debunking the Myths, Measuring its Value, Aligning Your Practices
How you treat the candidates you don’t hire for a job can have equally as much or more impact on your business as the one person you do hire. If you’re curious about how you can approach and handle a potential candidate and with positive results, look no further. This upcoming Indeed-sponsored webinar is hosted by none other than Gerry Crispin, and Elaine Orler. The following and more is sure to be covered:
- How the improve the candidate experience of the ones you don’t hire, and help to promote you as an employer rather than discourage you
- Which practices are merely annoying and which ones are critical to monitor and improve
For the full webinar and all that it entails, please register today, and get ready to really learn how you can make a positive impact on your organization even at times when, unfortunately, you have to turn down a potential candidate.
Date/Time of Registration: Thursday, August 14, 2014 at 2 p.m. EST
Registration Link: https://cc.readytalk.com/r/co2t99w7sotl&eom