moneyball sourcing
DESCRIPTION
ERE Webinar from 12/15/11, presented by Marvin Smith.TRANSCRIPT
Moneyball Sourcing
Looking at Sourcing Through
the Lens of Moneyball
The Recruiting Version of Sabermetrics
Jobs2Web Dashboard
TalentBrew Dashboard
• Use data in new ways• Move from “a gut feeling” to data driven
decisions• Both presentations are on ERE site
SEARCHES GOOGLE
VISITS CAREER
SITE
SEES JOB THEY LIKE
GOES TO LINKEDIN
SENDS FRIENDS INMAIL
SEES WORK WITH ME JOB ON LI
JOINS TALENT
COMMUNITY
APPLIES TO JOB #1
FRIEND #1 REFERS TO RECRUITER
FRIEND #2 SAYS STAY
AWAY
GETS JOB ALERT
FROM TC
APPLIES TO JOB #2 ON
MOBILE
FOLLOWS ON
SEES JOB TWEET
FRIEND #1 SAYS OK PLACE
GETS EMAIL FROM
RECRUITER
APPLY TO #4 VIA TWITTER
1
6
3
2
10
4
5
7 8
RECRUITER TELLS ABOUT
JOB #3
GETS HIRED FOR JOB #4
WHO GETS CREDIT?
Source: ERE Recruiting Innovation Summit 2011
9
What Is Becoming CommonplaceCandidate: Brian1st Apply: 1/05/2011Hired: 7/31/2011
Career SiteJob AlertTwitterJob BoardJob AlertDirect: ATSJob CentralJob AggregatorJob AlertTwitterCareer SiteJob AlertATS
31 Applies From 8 Different Sources
WIIFM1.A different way of thinking
about data—metrics that are useful
2.A great way to impact current hiring needs and pipeline for future
3.A little clarity in the complex world of sourcing & recruiting
Moneyball 101
1.Challenge Conventional Wisdom
2.The Science of Winning3.Adapt or Die
Call to action: Courage to Believe the Data
Challenge Conventional Wisdom
1. Job Boards Are Dead
2. Passive Candidate Are Best
3. Lost Faith in “Post & Pray”
Job Boards Are Dead
Source: Job Seeker Attitudes and Behaviors; Mastering Internet Recruiting Staffing.org 2009
Job Board is the fourth most effective source of hireJobvite: Job Board is the 2nd most effective source of hire
1 Career Site2 Industry
Groups3 Job Boards
Passive Candidate Are Best
Source: Corporate Executive Board-The Benefits of Passive Sourcing and Candidate Relationship Management Systems 2009
Lost Faith in Post & Pray
ReviewChallenge Conventional Wisdom
• Job Boards Are Dead
• Passive Candidates Are Best
• No Post & Pray
The Science of Winning
• Data driven decision
• Same data, different lens
• Clarity on the other side of complexity
The Science of Winning1. Move from “a gut
feeling” to data driven decisions
2. Sabermetrics (Use same data in new ways)
3. Clarity on the other side of complexity: Scoring was a process, not a talent (RBI); Get on base and create conditions for the next step
“Paul DePodesta concluded it would take 95 wins to make the playoffs. He then calculated how many runs the A’s would have to score than they allowed; 135. (The team would need to score between 800 and 820 runs and give up between 650 & 670 runs).” Moneyball; Michael Lewis
Walk is an important as a hit. • The more hitters avoid
striking out and force the pitcher to give them a pitch to hit or walk them, the more runners on base.
• The more players on base, the higher the likelihood or of runs and wins.
• Walk turns out to be as valuable as a hit.
The Science of Winning1. Move from “a gut
feeling” to data driven decisions
2. Recruiting data & metrics--Use data in new ways
3. Clarity within the complexity
How many visitors will it take to meet the demand of our workforce plan
Jobs2Web Dataset
• 51 million visitors• 3.7 million applications• 63,660 hires• Notice how many visitors,
applies are actually taking place—799; 77; 57; 10
• >1% begin the application process; .07 actually apply for a job; and .01 will interview
Science of Winning-Job2Web Benchmark Metrics
Metric Result
# visitors 799
# apps starts
77.2
# apps completed
57.6
# qualified
10.3
# interviews
3.6
# offers made
1.2
# hires 1.0
Science of Winning
Source
# Visito
rs /hire
Source#
qualified
# intervi
ewsSource # qualified
# interviews
efficiency
Facebook 400 Facebook 4.8 2.2 Facebook 4.8 2.2 45
Career Site 407 Search Engines 6.9 2.9 Search Engines 6.9 2.9 42
Industry Groups 472 Career Site 8.2 3.3 Industry
Groups 10.1 3.1 30
Major Boards 621 Industry Groups 10.1 3.1 Career Site 8.2 3.3 40
Niche Boards 880 Social Media 15.8 5 Job Aggregators 19.3 4.3 22
Social Media 899 Major Boards 17 4.8 Major Boards 17 4.8 28
Search Engines
1224
Niche Boards 18.1 5.9 Social Media 15.8 5 31
LinkedIn1354
Job Aggregators 19.3 4.3 Niche Boards 18.1 5.9 32
Job Aggregators
2186
LinkedIn 31.4 9.1 LinkedIn 31.4 9.1 28
Visitors Per Hire Qualified Prospects Per Hire
Interviews Per Hire
Ranking the Sources of Hires
Source
# Visito
rs /hire
Source#
qualified
# intervi
ewsSource # qualified
# interviews
efficiency
Facebook 400 Facebook 4.8 2.2 Facebook 4.8 2.2 45
Career Site 407 Search Engines 6.9 2.9 Search Engines 6.9 2.9 42
Industry Groups 472 Career Site 8.2 3.3 Industry
Groups 10.1 3.1 30
Major Boards 621 Industry Groups 10.1 3.1 Career Site 8.2 3.3 40
Niche Boards 880 Social Media 15.8 5 Job Aggregators 19.3 4.3 22
Social Media 899 Major Boards 17 4.8 Major Boards 17 4.8 28
Search Engines
1224
Niche Boards 18.1 5.9 Social Media 15.8 5 31
LinkedIn1354
Job Aggregators 19.3 4.3 Niche Boards 18.1 5.9 32
Job Aggregators
2186
LinkedIn 31.4 9.1 LinkedIn 31.4 9.1 28
Visitors Per Hire Qualified Prospects Per Hire
Interviews Per Hire
Ranking the Sources of Hires
1
3
2
4
5
SEARCHES GOOGLE
VISITS CAREER
SITE
SEES JOB THEY LIKE
GOES TO LINKEDIN
SENDS FRIENDS INMAIL
SEES WORK WITH ME JOB ON LI
JOINS TALENT
COMMUNITY
APPLIES TO JOB #1
FRIEND #1 REFERS TO RECRUITER
FRIEND #2 SAYS STAY
AWAY
GETS JOB ALERT
FROM TC
APPLIES TO JOB #2 ON
MOBILE
FOLLOWS ON
SEES JOB TWEET
FRIEND #1 SAYS OK PLACE
GETS EMAIL FROM
RECRUITER
APPLY TO #4 VIA TWITTER
1
6
3
2
10
4
5
7 8
RECRUITER TELLS ABOUT
JOB #3
GETS HIRED FOR JOB #4
WHO GETS CREDIT?
Source: ERE Recruiting Innovation Summit 2011
9
Science of Winning-Clarity
First Base might be signing up for an email list, an RSS blog feed or Jobs2Web talent network
Science of Winning-Clarity
Second base might be following us on Twitter, or a “like” on Facebook
Science of Winning-Clarity
Third base might be joining a community or downloading whitepaper
Science of Winning-Clarity
Crossing “home plate” is the result of several smaller moves
Review
Science of Winning• Data driven
decision• Same data,
different lens• Clarity on the
other side of complexity
•
Adapt or Die• Built a “farm
system”-had an immediate and long term view
• knew what talent was available—kept own data.
• Built relationships
Adapt or Die• “Source efficiency”-
evaluated the source of talent
• Knew who was available-developed own database
• Built a “farm system”-immediate needs, but also strategic about the future
Adapt or Die• Consistent Message: Brand
Message must be consistent as the audience is always changing (remember who our audience is…..)
• Social Contract Broken: People naturally break into affinity—no employer loyalty
• Strategic Sourcing: Need to think immediate, as well as, long term
Marketing Axiom
“only 10% of website visitors or searchers are ready to engage, make a purchase decision, or opt-in right away; but over the course of the subsequent 12 months, with the right value-added communication, that number skyrockets to 87%
Source: BtoB magazine, 2004
Less than once per year14%
Once Per Week11%Several Times Per Month
15%
Once Per Month12%
Once Every Two Months9%
Once Every Three Months14%
Once Every Six Months16%
Once Per Year9% % Audience
Source: CLC Recruiting 2010
60% of passive candidates want to hear about jobs at least every
3 months
Target Audience Behavior
Target Audience Behavior
Source: 2011 Corporate Recruiting Reports Candidate Attitudes and Behaviors Staffing.org
Social Contract Broken
Our data shows that candidates have increasingly accepted the inherent uncertainty of the working world and are programming their careers accordingly. They don’t believe in the old social contract any more than employers do. For both parties “forever” is a conditional term: nice to hear but undependable.
Source: 2011 Corporate Recruiting Reports Candidate Attitudes and Behaviors Staffing.org
Jobs2Web Dataset
1. 10 large customers with 8800 hires during 2011 from their talent network
2. This data illustrates that while 57% of applicants that are hired apply for a job on the first day, 43% of hires actually at some point in the future.
3. The data also documents that in many cases, it is the “job alerts” (drip marketing) that trigger the apply.
4. Conclusion: we may be missing on a significant number of hires if we do not have a method of remarketing to our candidates.
Source 0 days 1-30
31-60 61-90 >90 Total >1 >30
Career Site
3105 729 339 250 827 5250 41% 27%
Career Site Services
469 105 49 30 77 730 36% 21%
Direct 677 168 105 78 327 1335 50% 34%
Search Engine
332 129 43 24 136 664 50% 31%
Email 135 36 4 10 34 219 38% 22%
Job Aggregator
107 53 12 11 60 245 56% 34%
Total 5050 1288
566 417 1533 8854
% total 57% 15% 6% 6% 17% 100% 43% 28%
Apply Starts vs. Apply Completed
Metric Result
# visitors 799
# apps starts
77.2
# apps completed
57.6
# qualified
10.3
# interviews
3.6
# offers made
1.2
# hires 1.0
Talent Communitie
s
Prospects & Passives
Current Employees
Past Applicants
Recruiter Contacts
Key Contact
Lists
Target Audience Initiatives
Alumni
Magnets to attract prospects
Re-Recruit Past Applicants & Drive Viral Referrals
Capture Passives & Apply Drop
Offs
Centralize & Automate
Recruiter Contact Marketing
Automate Drip Marketing To
Prospects
Drive Boomerang Hires & Viral Referrals
Automate Drip
Marketing To Prospects
What Is A Talent Community?
CRM Engine
Google+
Jobs2Web Expert
Network
LinkedInfacebook
Talent--Community of Communities
1.Talent Network (community) has become the 4th largest source of hire
2.Over 17 months, the number of applies by the members of the talent community grew significantly
3.Not only did the # of applies grow, the number of candidates that it takes to make a hire decreased
Review
Adapt or Die• Consistent Message:
Brand Message must be consistent as the audience is always changing (remember who our audience is…..)
• Social Contract Broken: People naturally break into affinity—no employer loyalty
• Strategic Sourcing: Need to think immediate
•
Courage to Believe the Data
Courage to Believe the Data
• Taking action on data
Resources
• Jobs2Web• David Earle of Staffing.org• The Corporate Executive
Board Company—CLC Recruiting
Ask Questions Talent Communities
Join Talent Community Development Group on LinkedIn