Talent Brand ROI: Metrics Speak Louder Than Words

Meet your presenters

#TalentTrends 2

Meet your presenters

Agenda

① Talent brand is your greatest competitive advantage

② Building a framework: ROI metrics and success partners

③ Building a business case with your executive team

Lippincott and LinkedIn partnered to assess the economic potential of a company with a compelling brand: Consumer and Talent.

The research shows companies with a strong TBI and BrandView score have a 5 year cumulative growth in shareholder value of 36%.

Talent brand should have same focus as corporate brand

+10% + 36%

-6% +28%

Tale

nt B

rand

Pow

er(L

inke

dIn

Tale

nt B

rand

Inde

x)

Low

Hig

h

Consumer Brand Power(Lippincott Brand/View Scores

Low High

Cumulative growth in shareholder value over 5 years*

*Cumulative stock

performance over 5 year

period.

Employer Brand n.

How you, the employer, promote your company as a place to work

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

1 | Talent Brand Is Your Greatest Competitive Advantage

believe talent brand strength

makes a “significant

impact” on ability to hire

77%

Average reduction

in cost per hire

50%

Average reduction in turnover

28%

talent professionals

who say talent brand is a top

priority in 2015

56%

We know that talent brand is important

Source: LinkedIn Global Recruiting Trends Report, Nov 2014

60%of the decision process is complete prior to any interaction with your business

Reputation is a critical factor

Global Recruiting Trends 2014Which of the following is the most important if you were to consider a new job?

#TalentTrends 10

Online job boards

Social Professional Networks

Word of mouth

Company Websites

Professional Groups

Search engines

Online Advertising  

60%

56%

50%

40%

23%

23%

20%

Social networks are the most important channel for talent leaders

Social media (e.g. Facebook Twitter)Online professional networks (e.g. LinkedIn)Company website

Global Recruiting Trends 2016: Most effective employer branding tools

Talent Trends 2015: Most popular channels for finding next

opportunity

2 | Build A Framework: ROI Metrics & Success Partners

However beautiful the strategy, you should occasionally look at the

results. Winston Churchill

Attract RetainRecruit

What’s your goal?

Four simple metrics

Want to go an extra step?New hire alignment

Metric 1Social follower

quality

Metric 2Talent

response rate

Metric 3Applicant

quality

Metric 4Time to

hire

Know who your followers are:

• Function• Seniority• Industry• Company size

Adapt your talent brand strategy for different audiences

Metric 1: Social follower quality

17

Creating and engaging ‘followers’ will fuel your success

Members are 61% more likely to share information as a result of following your company

61%

81% Followers are 81% more likely to respond to an InMail

66% of members are interested in job opportunities from companies they are following

66%

• Track targeted follower change as part of overall follower growth

050000

100000150000200000250000300000350000400000450000

02,0004,0006,0008,00010,00012,00014,00016,00018,000

Impressions servedFollowers

• Plot campaigns against key success metrics to see correlation

Metric 1: Tips for visualising your success

Metric 1: Who are your partners?

Will be able to define and communicate your workforce plan for you.

Will be able to help with messaging to your audience. What do they want to hear, what is trending, do you have any thought leadership content?

Will help you understand what the follower base looks like and how it has changed over time. This will help measure the success of your efforts.

Sourcingfor: Talent Segments

Marketing/Comms

for: Content

LinkedIn Relationship

Manager for: Data Analysis

Metric 2: Talent response rate

Company page followers are

81% more likely to respond to an

InMail

Tip: If you’ve effectively built awareness, you should expect a higher response rate among priority talent pools.

Metric 2: Tips for visualising your success

As your talent brand strengthens, you should see an increasing response rate from targeted talent pools

13% or below evaluate your inMail strategy

Track targeted follower change as part of overall follower growth

Metric 2: [in]sight - Use your analytics

Data point InsightsYears in current role Break down analytics of accepted, declined and no response.

If a high number of recipients have been in their role < a year, need to be more strategic and considered about who you are contacting

How personal are you making it?

Identify how often you are contacting people with shared interests, connections, experience etc and which are the most common

Template Usage The higher the % of template usage, the less personal/bespoke your message.

Team data Compare yourself to your team. If you are falling behind in comparison, identify a high achieving team member to leverage templates, content.

Metric 2 Talent Response Rate

Metric 2: Who are your partners?

Most connected employee

for:

Hiring manager

Recruiter

Average InMail response rates when first degree employees reached out

Average InMail response rates when recruiters reached out

85%

28%

VS

Metric 3: Applicant Quality

Who are the quality candidates for you? • Subjective What does it

mean to your company?

• Good fit for the company

• Good fit for the role

Metric 3: Applicant Quality

75%

measure quality of hire throughnew hire performance evaluation50%measure quality of hire throughturnover or retention statistics 49%measure quality of hire throughhiring manager satisfaction43%

Global Recruiting Trends 2016: Most valuable metric that you use to track your recruiting team’s

performance

Tips 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 2: Tips for visualizing your successMetric 3: Tips for visualising your success

Stack quality vs. non-quality candidates on a chart

Metric 3: Who are your partners?

Anecdotal feedback on the quality and culture fit of applicants.

What do you talent flows look like? Where are you sourcing candidates From/which companies are they going to? Start measuring

retention rates of applicants sourced through different channels..

Hiring Manager

For: Culture Fit

HRFor:

Retention

LinkedIn Relationship

Manager For: Talent

Flows

Metric 4: Time To Hire

Company with a strong talent brand on LinkedIn report a

20% Faster rate of hire

Your talent branding activities should build a strong pipeline and start more conversations with qualified talent, thereby lowering your time to hire.

Time to hire for engineering roles

Time to hire for engineering vs. all roles

Week 1

Week 2

Week 3

Week 4

Week 5

0

5

10

15

20

25

30

35

40

Engineering - time to hireD

ays

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 4: Tips for visualising your success

Track time to hire as a whole, or for specific roles

30

What’s new title?? Ongoing measurement? - Elle

Surveys are an easy, cost effective way to keep in touch!

Internal:Emp. engagement surveys, new

hire surveys: 3 months to test talent brand authenticity (again at 12-18

months)External:

Silver medalist candidates

 

Talent brand measurement & ROI is ongoing

Surveys(Internal & External)

ReferralsLinkedInInsights

Measure your talent brand against peers, engagement.

 

Referrals grow as a key source of quality hires

75%

Global Recruiting Trends 2016 Most essential and long-lasting

trends in recruiting for professional roles?

Most important source for quality hires in last 12 months?

3 | Building a Case: How to elevate talent brand conversations and demonstrate success with your executive team

57% At socially-engaged companies employees are 57% more likely to leverage social media to drive sales

40% More likely to appear more competitive

58% More likely to attract talent

Source: relationships Matter, LinkedIn & Altimeter Group, 2014

Today’s top performing leaders are social leaders.*

* 76% of executives say they would rather work for a social CEO (The Social CEO: Executives Tell All, Weber Shandwick, 2013)

Around the world and across industries, top executives who were once convinced that social media wasn’t worth their time, now consider their participation in these networks as essential to their role.

As a result, more and more top executives see the benefits of being open and transparent and take part in the social revolution.

Today’s top performing leaders are social leaders.

SIR RICHARD BRANSONFOUNDER & CEO,

VIRGIN GROUP

MIKE SMITHCEO, ANZ

MARK PARKERCEO, NIKE

Social media is helping us unite and expand. We have never been closer

to our consumers.

In social media our strategy is rapidly evolving. It is centered

on ANZ participating in the social web through our

organization and through our people. This includes me as

CEO, my management team and ultimately all our people.

Embracing social media isn’t just a bit of fun, it is a vital way to communicate, keep your ear to the ground and

improve your business.

“”

Link

edIn

Tal

ent

Bran

d In

dex

Lippincott Customer BrandView Index

36%28%-6%

10%

HighLow

Hig

hLo

w

Cumulative Growth in Shareholder Value over 5 years:

Talent brand impacts bottom line (and top line!)

Business Critical

Appetite to innovate

Hard to fill

Invest in talent

community

Where to get the business started

Business Goal

Talent Goal

Talent Brand Challenges

Communication Objective

Risks of not hitting hiring goals

Provide a best in class online experience for customers to engage with our brand and projects

Expand our APAC digital team by 200 over the next 12 – 18 months with an emphasis on female talent

Talent knows and understands our consumer brand but know what it’s like to work here

There is a shortage of talent in this sector and we are competing against big brands for digital talent – Google, Microsoft, Airbnb, Big Banks

To organically place ourselves at the heart

of digital professionals in APAC and redefine the digital possibilities of working for our company

Failure to innovate digitally means we will lag behind our competitors resulting in significant $xx reduction in revenue

Business & talent alignment

 Reputation aside, you should know what those open roles are costing your company

Average Daily Revenue per Lost Employee =

Daily Revenue Lost =

Daily Revenue Lost =

(Total Annual Revenue ÷ # of employees)250 working days per year

Position’s salary250 working days

Simple SalaryMultiplier X

Total Annual Revenue Generated by Position250 working days

What’s your cost of not investing?

FollowersOur company: 90,000Goal: 110,000 by Jan ‘16

Response RateCurrent: 28%Goal: 38% in 6 months

Followers are 80% more likely to respond to an InMail

Quality of hire Time to hireDept

Now (days

)Goa

lDays saved

Cost saving

(per head)

Hiring volume (yearly)

Annual saving

IT & Digital

50 45 5 $10k 16 $160k

Shared Services

34 31 3 $8k 8 $64k

Sales 28 24 4 $30k 19 $570k

Marketing 30 28 2 $16k 3 $48k

TOTAL SAVING $866k

Source Avg. tenure

Retention (6 mths)

Retention (12 mths)

LinkedIn 3.5 95% 89%

Referral 4.3 93% 89%

Job board 2.2 78% 71%

Agency 1.8 80% 55%

Talent flows: Top 3 companies hired from:Competitor xCompetitor yCompetitor z

Industry BenchmarkingCompetitor a: 118,990Competitor b: 117,606Competitor x: 113,193Competitor y: 81,099Competitor z: 76,360

For executives: use a performance scorecard

Key Takeaways:

① Talent brand impacts your bottom line

② Measurement is key

③ Bring your partners on the journey

Questions?

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