recruiting “diverse” talent - the big data way€¦ · reqs and survey data ... strategies 3...

20
Recruiting “Diverse” Talent - The Big Data Way

Upload: others

Post on 02-Oct-2020

0 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

Recruiting “Diverse” Talent - The Big Data Way

Page 2: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

2

“Strength lies in differences, not in similarities.” –Stephen Covey

“Diversity is critical to innovation and it is essential to Apple’s future. We aspire to do more than just make our company as diverse as the talent

available to hire. We must address the broad underlying challenges, offer new opportunities, and create a future generation of employees as diverse

as the world around us.”

–Tim Cook

CEO, Apple

“Embracing diversity is critical to getting the best talent. We believe our workforce should reflect the communities and customers we serve…

Harnessing the collective wisdom of our people enables us to build a great company and bring breakthrough products and services to our more than 65

million customers.”–Richard FairbankCEO, Capital One

Page 3: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

3

Capital One has built a powerful brand as a Top 10 bank and one of the largest credit card issuers

Page 4: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

4

Page 5: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

5

Capital One was formed with information based strategy as our foundation, using data to make business decisions and transform banking

Page 6: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

6

Our aim in HR is to leverage big data framework to effectively align the business strategy to the human capital strategy

Recruitment

Incentives and

Compensation

Engagement and

Attrition

Onboarding and

TrainingAss

oci

ate

Tou

ch p

oin

ts

Associate Lifecycle

Page 7: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

7

Customer Loyalty is

disappearing

Regulatory and cost

pressures are increasing

“Tech” is blurring industry

boundaries

Priorities: product

innovation, digital channel

delivery

As the industry goes through disruptions in terms of regulations, digitization and competition, we need to re-tool to face these challenges…

Source: Temenos September 2014, “The Financial Brand”

Page 8: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

8

Building a diverse workforce both in terms of demographics and talent is essential to survive and thrive

Page 9: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

9

The benefits of a truly diverse workforce show up across all aspects of the business

Diverse workforce adds multiple perspectives to

problem solving – ensuring the best solution wins

“It is crucial for a company’s employees to reflect the

people they serve”[1]

A Diverse work force fosters innovation by questioning

status quo, increases engagement by creating a

harmonious work environment

Engagement

Performance

Customer Satisfaction

[1]: Boris Groysberg and Katherine Connolly, “Great leaders who make the mix work”, Harvard Business Review, September 2013, pp. 68–76.

Page 10: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

10

Hence we need to start looking beyond our traditional sourcing channels

• Campus recruiting

• Job website postings

• Community job postings

• Employees Referral programs

• Internal job boards

Such a sourcing strategy results in a very high number of applications that are almost impossible to handle with traditional selection processes

Traditional Channels New Channels

Page 11: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

11* Resume scoring is based on traits, skills, or abilities that are job-related and consistent with business necessity.

Our big data framework not only helps us to select diverse candidates in terms of talent but also informs us about their match with our culture

Candidate data

Employee Performance

data

Reqs and Survey

data

Scoring Model For Recruiting

Immediate Tactical Benefits• Recruitment Process Efficiency• Candidate/Associate Experience• Business Customer Satisfaction

Page 12: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

12

1Prepare

Big Data frameworks needs data – a variety of it. Be

prepared to scale, iterate and innovate to get to stable

ground

2Influence

Win followers. Need leaders to sign up to test

the new recruiting strategies

3Impact

Create meaningful pilots to capture impact , learn and

improve

Our journey has been hard but fruitful – To succeed, you need to Prepare, Influence and Impact

Page 13: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

13

Three T’s – Talent , Technology and Tools are fundamental to preparing for the big data journey

Invest in stable & sustainable technology –

Volume, Variety and Velocity – three pillars

of Big Data rely on underlying technology

support

Visualization tools and UI for the end users

to make effective decisions based on the

predictions

Build, buy or borrow the talent to deliver

on the promises of big data – Data

Scientists , Statisticians, Digital

developers

Talent

Technology

Tools

1Prepare

Page 14: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

14

Build core analytic datasets on stable, scalable platforms and right tools to consume them

Recruitment Training Performance Compensation

Core Analytic

Dataset

External

DataEmployee Survey

Data

Identification of

preemptive

interventions

Next-generation

workforce

planning

Predict

performance,

attrition, quality of

hire etc.

Prepare High Quality Internal data

Create Comprehensive Datasets • Talent Supply & Demand

• Educational institutions• Social media

• New recruits; • Quality of hire• Engagement• Exits

Analytics techniques:• Time series analysis• Decision tree• Logit/Probit models• Multivariate analysis• Neural networks

Create multiple models that improves predictions

Socialize predictions and turn them into actions

Finance & Ops Customer / S&S

HR

Predictive

Analytics

Engine*

* Contains several predictive models

1Prepare

Page 15: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

15

1Prepare

Big Data frameworks needs data – a lot of it. Be prepared to scale, iterate and innovate

to get to stable ground

2Influence

Win followers. Need leaders to sign up to test

the new recruiting strategies

3Impact

Create meaningful pilots to capture impact , learn and

improve

Page 16: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

16

Leaders need to sign up on the recommendations from analytical models

2Influence

ILLUSTRATIVE DATA

Page 17: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

17

1Prepare

Big Data frameworks needs data – a lot of it. Be prepared to scale, iterate and innovate

to get to stable ground

2Influence

Win followers. Need leaders to sign up to test

the new recruiting strategies

3Impact

Create meaningful pilots to capture impact , learn and

improve

Page 18: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

18

Creating recruiting pilots to test and quantify the power of controllable levers is the final piece of the puzzle

3ImpactChange the “Weights” of

diversity variables as you see

fit for the roles and talents you

seek

Closely monitor results,

evaluate results and

incorporate learnings into new

processes

Test big data model

recommendations to recruit

diverse talent in variety of

markets

Page 19: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

19

Finally, educate leaders and prepare them for consequences and manage the change

Manage Change

Monitor

• Make sure the models don’t inadvertently create an adverse impact

situation

• Categorize background and experiences and analyze distribution across

categories

• Manage the Change - Leaders should sign up to nurture

an all-inclusive environment

• Update/Change legacy processes to reduce bias and

bring more analytical rigor in HR processes

Educate

• Articulate analytically, the clear winning proposition for the business

leaders to embrace diversity of talent and demographics

• Declare destination state and identify gaps and challenges in the journey

Page 20: Recruiting “Diverse” Talent - The Big Data Way€¦ · Reqs and Survey data ... strategies 3 Impact Create meaningful pilots to capture impact , learn and improve Our journey

20

Questions ??