Transforming the Talent Attraction Role, Bhavini Patel, Director, Adivsory Services, KPMG

Transcript

1. Transforming the talent attraction role: KPMG external insights
2. 2 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Create global frameworks that are flexible to meet the needs of Local markets Push talent management Beyond the enterprise wall Run talent strategies from South to North Design career paths and development programs that take into account Cultural perspectives Source: Dupress.com, Accenture The landscape of global talent is changing… WORLD POPULATION BY 2020: >7.8 BILLION IF REPRESENTED BY 100 PEOPLE: ASIA EUROPE WESTERN HEMISPHERE MIDDLE EAST WESTERN EUROPE AFRICA TALENT IS GLOBAL AND BORDERLESS TALENT IS global and borderless 40% of world population in BRIC countries BY 2040 Africa will have the largest workforce Mobility levels to increase by 50% in 2020 75% Of the world population has a mobile World population by 2020 > 7.8 billion
3. 3 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Millennials will soon represent 75% of the workforce… Expect to work hard 1 in 7 are working 50 hours a week or more Demand innovation 78% are influenced by how innovative a company is when deciding if they want to work there Desire work-life balance 25% demand work-life balance and job flexibility Want leadership training 63% believe their leadership skills are not being fully developed Driven by values 56% ruled out working for a particular organisation because of its values Seek opportunities 66% expect to leave their organisation by the end of 2020 Creating different ways of working Two-way communication, collaboration, developing personal relationships and a desire to make flexible working a reality. They want to manage their own careers Demanding immediate action Everything in hyperspeed; more promotions, more investment, more development opportunities Pushing for reform Questioning the status-quo and fostering more thoughtful relations between workers and employers Source: Firefish, Deloitte Millennials Survey
4. 4 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Sociometric badges will become commonplace. Measuring engagement, productivity and retention. Taking talent analytics to the next level Artificial intelligence will be used to analyse and distilling real world employment market patterns to identify the positions for which job seekers are best suited and the job seekers who most closely match employer requirements Enterprise gamification is on the rise. The industry is predicted to grow by 67% by 2018 – used for engagement, training, on-boarding and recruitment Today 99% of things in the physical world are connected to the internet And technology is reaching new heights… Within ten years every major company will have a people analytics division. The companies that don’t will cease to exist
5. 5 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 What does this mean for talent management… HR and talent must redefine its mission and mandate to maximize on the extended workforce and open talent economy’s strategic value Organizations will adopt new talent sourcing strategies and management methods to support mobile workforces across geographic barriers Talent programs will become obsolete and instead customization will be key – harnessing analytics to achieve the sense that all employees are a “workforce of one” Skills gaps will widen even further, therefore organizations will have to become adept at quickly tapping skills when and where they’re needed, “re- badging” employees through an accelerated progression Line managers will become even more critical than ever before – line management will become the ‘talent spotters’ Predictive analytics and data driven decisions will go mainstream… organizations will be increasingly willing to share information to drive their ability to predict critical skills
6. Transform the talent attraction role by…
7. 7 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Capability framework and career grids Consistent capability requirements by grade and skills group to inform recruitment assessment, development and learning by identifying what good looks like. Enhanced mobility and clarity on the talent population with clear career pathways and succession planning Workforce planning Succession planning and technical capabilities informing critical skills gaps Recruitment selection and on-boarding Ensuring that the right people are in the right place at the right time through a robust assessment process that also provides a positive candidate experience. Thereafter, setting up employees for success in their roles and accelerating employees getting up to speed to deliver value for the organization Performance management Recognise, retain and reward your talent with 360 degree performance reviews, goals management, and compensation planning Assessment and development Consistent assessment and development standards and approach tied into competencies identified for individual roles across the employee lifecycle Learning development and coaching Based on the competencies required, directing employees to training and development against key capabilities taking a 70-20-10 approach. Creating a coaching mentality which focuses on developing individuals and on the job learning, making the 70-20-10 development methodology a reality Employee value proposition Clearly articulated EVP that calls out the ‘gives’ and the ‘gets’ of the employee and employer to increase attraction of potential employees and engagement of existing employees and is embedded within all other people processes It is critical to recognise the interdependencies between core talent processes to maximise ROI Integrating talent management
8. 8 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 A key insight provided by talent analytics is the ability to link business goals directly to talent strategies Directly linking the talent strategy to business goals… Successful talent analytics programs require: Rather than focusing on HR spending and measuring HR metrics alone, talent analytics today has the power to analyse the contribution people make to business outcomes across the board – from sales and customer service to accident reduction and quality improvement. Source: Dupress, 2014 Dedicated analytics capability Cross functional teams Strong partnerships between HR, it and business operations HR taking the leadership role Targeted data collection Internal and external view
9. 9 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Organizations are using workforce insights and optimisation to gain competitive advantage around cost, customer, performance, and conduct agenda Investing in talent analytics for your organization… Make scientific decisions about where to invest in monetary incentives in order to maximize performance Better attract and select leading candidates by understanding the characteristics of high performers Get the right insights to drive engagement and get the most out of your people strategies Reduce attrition by modelling data to predict turnover enabling rapid change of work conditions or behaviour to keep top people from leaving Enabling flexible career pathways by matching skill-set with suitable roles Implement effective hiring algorithms to match workforce supply and demand
10. 10 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 The key messages from business leaders are clear: Keeping up with key trends in talent acquisition… 59% are investing more in their employer brand compared to last year 28% want to find better ways to source passive candidates 39% agree quality of hire is the most valuable metric for performance 66% say they are losing candidates because they have not embraced mobile enabled recruitment 26% consider employee referral programs to be a long-lasting trend Source: Global Recruiting Trends, LinkedIn
11. 11 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Spending on employer brand has significantly increased over the past two years Importance of employer branding continues to grow… 50% 28% 75% How much you can reduce your cost per hire How much you can reduce your employee turnover Of talent acquisition leaders who say talent brand significantly impacts their ability to hire great talent Global organizations agree on the top 5 reasons for investing in a talent brand Difficulty recruiting quality candidates Planned increase in hiring Increased competition Iincreased belief in the impact of employer brand Need to raise general awareness 1 5 3 4 Harmonize with the marketing department to create a compelling employer brand 2 Source: Global Recruiting Trends, LinkedIn
12. 12 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Organizations are creating more proactive recruitment strategies and are harnessing technology to access top talent on outbound channels such as online professional networks and social media Mobile technology is at the forefront of recruitment… Search and staffing firms Social professional networks “Think about the key quality hires that your organization (placed/made) in the past 12 months. Which of the following were the most important sources for those key positions? 16% 14% 27% 25% 20% 36% 46% 49% 51% Canada United States Brazil Spain Mexico 52% Organizations reliant on social media professional networks are generally much less reliant on staffing and search firms Recruiting through company websites has dramatically fallen over the past 3 years The number of job applications submitted through mobile apps has risen from 31,300 in 2011 to 541,463 in 2015 43% of applicants have used their mobile device to look for a job 89% of all recruiters report having hired someone through LinkedIn Source: Global Recruiting Trends, LinkedIn; Jobvite; Herd Wisdom
13. 13 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Since employee referrals are starting to emerge as a long-lasting trend, there’s a huge opportunity to get ahead and strengthen programs Employee referral programs are key to 2020 sourcing… High = We are best in class/Very well Low = Somewhat well/Not too well/Not at all/Don’t know France United Australia Kingdom China India Brazil United States 39% 19% 0% 100% Global average 30% 32% 32% 43% 51% 65% It is clear that organizations want to invest in employee referral programs but they have not yet cracked it. “Employee referrals are the single most important thing we do in recruiting. It is the number one source of good, quality hires. Unfortunately, most companies treat their referral program like an HR program. If you really want to succeed with referrals, you need to treat it like a marketing program." Steve Klingensmith Recruiting Manager Booking.com Source: Global Recruiting Trends, LinkedIn
14. 14 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Organizations are consistently closing the gap by having an active and passive candidate strategy Growing importance of passive candidates… 61% Global Average China 83% United States 72% India 69% Spain 68% Brazil 67% Southeast Asia 65% Mexico 63% Hong Kong 60% South Africa 60% MENA 59% Canada 58% United Kingdom 57% Germany 54% Italy 53% Nordics 51% France 51% Australia 49% Netherlands 48% Belgium 41% Only 61% of organizations are actively recruiting passive candidates… ….yet 75% of candidates identify themselves as ‘passive’ 4 years Is the average length of time an employee stays at one company, according to Aug 2014 LinkedIn data. Better skilled, more confident and more capable than active job seekers Source: Global Recruiting Trends, LinkedIn
15. 15 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 Business leaders have spoken. They see value in Quality of Hire as a KPI. But they lack the confidence in measuring quality of hire Measuring talent acquisition performance Only 33% of business leaders feel that their methodologies for measuring quality of hire are strong, and an even smaller 5% felt “best in class.” measure quality of hire through turnover or retention statistics measure quality of hire through hiring manager satisfaction 2014 2015 44% 39% Quality of hire 25% 28% Time to fill 18% 21% Hiring manager satisfaction 50% 49% 43% measure quality of hire through new hire performance evaluation What is the single most valuable metric that you use to track your recruiting team’s performance today? Source: Global Recruiting Trends, LinkedIn
16. 16 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 To generalize “global” talent acquisition trends is far too simplistic of a story in 2016 Evolving talent acquisition picture globally Talent acquisition and recruiting are undergoing rapid disruption, challenging companies to leverage social networks, aggressively market their employment brand, and re- recruit employees every day. “ USA, Canada, Mexico and Brazil Improved candidate and job matching Belgium Remote Workforce options China Using “big data” to predict future talent needs Germany, Italy, Netherlands Recruiting focused on marketing employer brand Australia, India, South Africa Improved candidate and job matching Source: Global Recruiting Trends, LinkedIn
17. 17 © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 The benefits of innovation and technology are already being realised across different industries Examples of innovative recruitment strategies… Utilize own search tool to find “passive” candidates and ensure their own job ads appear first when certain key words are typed into a search Online game managing a virtual hotel restaurant kitchen to get users acquainted with the industry and attract millennials. Recruitment app, including gamification elements to attract a younger population for their new delivery centers Bespoke onboarding app with activities dashboard which can be accessed from 3 perspectives: new hire, HR and Hiring Manager.
18. © 2017 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. NDPPS 687060 The KPMG name and logo are registered trademarks or trademarks of KPMG International. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. kpmg.com/socialmedia Zoe Thompson Partner, People and Change zthompson@kpmg.com Bhavini Patel, Director, People and Change bhavinipatel@kpmg.com