recruiting “diverse” talent - the big data way€¦ · reqs and survey data ... strategies 3...
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Recruiting “Diverse” Talent - The Big Data Way
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“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
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Capital One has built a powerful brand as a Top 10 bank and one of the largest credit card issuers
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Capital One was formed with information based strategy as our foundation, using data to make business decisions and transform banking
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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
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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”
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Building a diverse workforce both in terms of demographics and talent is essential to survive and thrive
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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.
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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
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
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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
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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
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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
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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
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Leaders need to sign up on the recommendations from analytical models
2Influence
ILLUSTRATIVE DATA
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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
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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
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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
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Questions ??