quantify your impact: how to measure the roi of your talent brand | talent connect anaheim
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Quantify your Impact: How to Measure the ROI of your Talent Brand
Jamie Drayton Talent Brand Consultant
Alison Catanzarite Media Account Manager
believetalentbrandstrengthmakesa“significantimpact”ontheirabilitytohireonabilitytohire
77%
averagereductionincostperhire
50%
averagereductioninturnover
28%
talentprofessionalssaytalentbrandisatoppriorityin2015
56%
We know that Talent Brand is important
Source: LinkedIn Global Recruiting Trends Report, Nov 2014
We know that Talent Brand is important
Source: LinkedIn Talent Trends Report, March 2014
Reputation as a “great place to work”
Reputationfor“greatproducts/services”
Reputationfor“greatpeople”
Reputationfor“beingprestigious”
Reputation for “great products /
services”
Reputation for “great people”
Reputation for “being
prestigious”
56%
Candidates tell us it’s important when deciding their employer
Reputation as a “great place
to work”
But how do you prove your talent brand is important?
1. Know the language
2. Find your partners
3. Measure what matters
4. Beware of pitfalls
5. Apply something new
5 Steps to Measure your Talent Brand
Step OneKnow the Language
Employer Brand n.
How you, the employer, promote your company as a place to work
10
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
50%of professionals around the world discover new job opportunities through word of mouth
Step TwoFind Your Partners
13
CompanyBrandandTalentBrandaretwosidesofthesamecoin.
Step ThreeMeasure what Matters
POTENTIAL CANDIDATES
AWARENESS
ENGAGEMENT
LEADS
HIRESAttract
Know your Goals
5 Key Metrics
METRIC 1: SOCIAL MEDIA
FOLLOWER QUALITY
METRIC 2: RESPONSE RATES
METRIC 3: APPLICANT QUALITY
METRIC 4: TIME TO HIRE
METRIC 5: NEW HIRE ALIGNMENT
Metric 1 Social Media Follower Quality
KNOW YOUR FOLLOWERS:
Function Seniority Industry Company size
Sales
Information Technology
Engineering
Marketing
Operations
11%
9%
9%
8%
8%
Visitor Demographic
of members are interested in job opportunities from companies they are following
Members are 61% more likely to share information as a result of following your company71% 61%
Track targeted follower change as part of overall follower growthTips for Visualizing your Success
Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-150
1000
2000
3000
4000
5000
6000
7000
8000
9000
8,020total followers
2,320total tech followers
40% YoY Growth
60% YoY Growth
TAILOR YOUR TALENT BRAND STRATEGY FOR DIFFERENT AUDIENCES
Plot campaigns against key success metrics to analyze correlationTips for Visualizing your Success
January February March April May June July August September0
50,000
100,000
150,000
200,000
250,000
300,000
350,000
400,000
450,000
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
16,000
18,000
Impressions served
Followers
Metric 2 Response Rates
If you’ve effectively built awareness, you should expect a higher response rate across priority talent pools.
Followersare
81% morelikelytorespondtoan
inMail
Global e-commerce company has huge uptick in response rate from engaged talent
20%
48%
No Engagement withyourbrand
Engaged withyourbrand
+140%RESPONSE RATE
Tips for Visualizing your Success Track response rates over time to see trends
Asyourtalentbrandstrengthens,youshouldseeanincreasingresponseratefromtargetedtalentpools
January February March April May0%
5%
10%
15%
20%
25%
30%
Average Response Rates for Engineering Talent
Metric 3 Applicant quality
Who are the quality candidates?
Subjective What does it mean to your company?
Good fit for the company
Good fit for the role
Stack quality vs. non-quality candidates on a chartTips for Visualizing your Success
Week 1 Week 2 Week 3 Week 40
10
20
30
40
50
60
70
Non-qualityQuality
# of
app
lican
ts
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.
CompanieswithastrongtalentbrandonLinkedInreporta
20% Fasterrateofhire
Tips for visualizing your success Track time to hire as a whole, or for specific roles
Timetohireforengineeringroles Timetohireforengineeringvs.allroles
Week 1 Week 2 Week 3 Week 4 Week 50
5
10
15
20
25
30
35
40
Engineering - time to hireDay
s
Week 1 Week 2 Week 3 Week 4 Week 50
5
10
15
20
25
30
35
40
Engineering - time to hire
All roles - time to hire
Metric 5 New hire alignment
Monitor the authenticity of your talent brand with a new hire alignment check
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.
Send90daysafterstart Ensureanonymityforhonestanswers ToolslikeGoogleFormsorSurveyMonkeyarefree
andeasy
Graph alignment over time, preferably by functionTips for Visualizing Success
Q1 Q2 Q3 Q40
0.5
1
1.5
2
2.5
3
3.5
4
4.5
SalesMarketingITHR
Alig
nmen
t Sco
re
Seeing Poor Alignment? Tips on how to adjust
1. You’re not sharing enough
2. 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 - FounderRed Pill Talent
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
The journey of a thousand miles starts with a single
step.-Lao Tzu
Step Five
Apply Something New
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