big data for recruiting | sourcein new york
Post on 11-Aug-2014
DESCRIPTIONFrom SourceIn New York, Jim Stroud explains why big data is a critical tool for recruiters. Learn more about LinkedIn Talent Solutions for recruitment firms: http://linkd.in/1iTsTH5 Subscribe to the LinkedIn Talent Blog: http://linkd.in/18yp4Cg Follow the LinkedIn Talent Solutions page: http://linkd.in/1cNvIFT Tweet with us: http://bit.ly/HireOnLinkedIn
I was for
before I was
RECRUITING AIN’T EASY
RECRUITERS BE LIKE…
And let them have the right amount of experience and be willing to accept the salary we offer and…
<-‐-‐-‐-‐-‐-‐ Post and pray method.* *This method is gathering steam these days.
Are you hearing me recrui8ng gods?
WHY IS THAT?
Just kidding. ;-)
2 Reasons why there is a lot more posting and praying these days…
#1 TALENT SHORTAGE
WHY EMPLOYERS ARE HAVING DIFFICULTY FILLING JOBS? At a global level hiring managers report that talent shortages are most likely to reflect a lack of technical competencies or a more general lack of applicants for a par8cular post, as was the case in 2012
“…the United States ranks near the middle in literacy and near the boGom in skills with numbers and technology.”
"The Northern hemisphere faces talent shortages in a wide range of occupa8onal clusters largely because popula8ons are ageing rapidly and educa8onal standards are insufficient. "The United States, for example, will need to add more than 25 million workers to its talent base by 2030 to sustain economic growth, while Western Europe will need more than 45 million. In Germany, according to a recent assessment, 70% of employers are hard-‐pressed to find the right people."
The skills deficit is exacerbated by the fact that baby boomers will be reTring and young people are not pursuing the professional skills the world will need. People skilled in professional posi8ons such as doctors, scien8sts, technicians, health care professionals, IT professionals, computer scien8sts, global managers, and skilled trades such as plumbing will be high in demand but severe shortages are an8cipated.
#2 Retention issues
Are you showing your people love?
Are you feeling the pain of this staffing storm?
Survey says… Yes.
Job saTsfacTon among recruiters and leaders is not especially high. Most respondents, including hiring managers and company execuTves, believe jobs are at least as hard to fill this year as in 2013, and, by large percentages, believe filling jobs will be even harder next year.
So what are companies doing about it?
Just kidding. ;-)
This is how the war for talent will be won.
Data is the future. Data is now.
So, what is big data?
Paul F. and Warren S. Miller Professor of Economics; Professor of Finance and Sta8s8cs; and Co-‐Director, Financial Ins8tu8ons Center, University of Pennsylvania
“Big Data refers to the explosion in the quanTty (and someTmes, quality) of available and potenTally relevant data, largely the result of recent and unprecedented advancements in data recording and storage technology.” – July, 2000
My definition… “Big Data is a whole bunch of information.“
Of course, all the data in the world means nothing if you can’t make sense of it all.
Some companies are masters of big data!
Did you know this?! (A clever use of big data.)
Based on big data, Target can assign a “pregnancy predic8on” score.
Early Weather Warnings
Understanding traffic patterns with GPS data
Predicting 2nd Heart Attacks with EKG data
Detecting credit card fraud
Decoding human genome
Do you see it now? We are meant to be together.
Shut up and kiss me.
Big Data HR
Goo g l e ’ s Wo r k f o r c e Predic8on Algorithm was ambi8ous and controversial.
Now Google has a “People AnalyTcs” department made up of data miners, psychologists and MBAs.
-‐Kathryn Dekas, Manager, People Analy8cs Team at Google
Google figured out the traits of good and bad bosses. They used that data to improve the work performance of struggl ing managers by 75%.
The People Analy8cs team was also helpful in dispelling myths. Namely, employees believed that when you worked at Google’s headquarters you were promoted more quickly than those in other Google offices, or the Googlers who worked on “shiny projects” were more likely to be promoted than those who were just regularly working on the day to day opera8ons. The data showed that neither of these hypotheses was actually true, but the analysis did reveal that geing feedback from senior peers was the most important factor if you wanted to be promoted within Google.
is the only one doing this?
Luxoica Group used data analy8cs to disprove assump8ons about the company's recrui8ng strategy. Data showed that it took on average 96 days to fill a posi8on with an external candidate. The management team believed that the company's recruiters acted too slow, but a sta8s8cal analysis found that the hiring managers dragged their feet about making decisions about who to hire. Aner making a few tweaks they went from 96 days to fill a posiTon to 46 days.
Capital One creates automated data reports on employee aGri8on, headcount and promo8ons. Its also beginning to analyze the characterisTcs of its most successful employees, like what schools they went to and what their majors were.
By keeping track of the saTsfacTon levels of delivery associates, a company called Sysco improved their retenTon rate from 65% to 85%, saving nearly $50 million in hiring and training costs. Very impressive.
BIG DATA IS COOL!
Umm… Wait a sec’…
But, I kept reading.
Cubist PharmaceuTcals • Sensor data tracked
movement and voice tones. • Merged sensor data with
email traffic-‐data and weekly surveys on how produc8ve employees felt.
End result? • More face to face interac8on
equals higher produc8vity. • Company revamped cafeteria
to improve group interac8on. Produc8vity improved.
Just in case you want to check your office chair when you get back. This is a mo8on sensor designed by a company called – Herman Miller. (www.hermanmiller.com)
BIG DATA IS scary?
Maybe I should stop reading?
All very interesting, but what has that have to do with HR today?
Two things to worry about when it comes to recruiting and big data!
Just in case you needed more to think about.
#1 Unintended Consequences
#2 More Government Regulation
• Advance a consumer privacy bill of rights to provide be<er informa=on and standards for protec=ng privacy
• Pass legisla=on for protec=ng data from breaches • Prevent discrimina=on based on automated profiling of race or other sensi=ve characteris=cs
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So how do I get the benefits of big data while avoiding the negative consequences?
I don’t know.
Nobody knows (for sure) because it’s a new territory.
But I have some suggestions…
• Big data is not good or evil. Its just a tool. Use it. • Be transparent about the data you are collecting. • Set clear rules around what it will be used for • Keep a constant vigil for unintended consequences.
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Contact me: Jim Stroud SR Director, RPO Recrui8ng Strategies and Support Randstad Sourceright Linkedin: www.linkedin.com/in/jimstroud
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