Source In London; Big Data for Recruiting

Editor's Notes

• #2: My name is Lindsay Ahearne – I have the privilege of working with the Insights team in LinkedIn. We work with our largest clients to build custom insights to support their business strategies.Today, I am delighted to be there to coach you on how to make data-driven decisions in recruiting and to give you real, actionable takeaways that you can use this immediately after this event.So… what's the link between Moneyball and Recruitment?
• #3: How many of you have read the book or seen the movie Moneyball? The story centers around the Oakland As, a baseball team who are struggling in their league as a result of their restricted funds.To compete, the manager Billy Beane, comes from a different angle and starts analyzing past performances and identifying trends to assemble a group of players with compatible strengths that creates a competitive baseball team….And in the end they won the league.
• #4: Historically, you would never associate bar charts and stats with sports, in 2002, this was the early attempts at using data…..and now its an integral part of sporting organisations…as I am sure you all know. This is what is on my TV at home on Sunday afternoons
• #5: Similar to sports, the same revolution is underway in recruitment
• #7: A phrase we commonly use in LinkedIn is – If you can’t measure it, you can’t manage itStart identifying data that can help youRemember to focus on what you needLet’s talk about how LinkedIn can support you in this
• #8: Everything starts with profile data…..Thinking about the data we can access from a profile, LinkedIn data is broad with 238+M members, for each member we can go deep, breaking down by seniority, geo etc.For example, here we can see that William is based in the UK working at Director levelAnd the key is that this data is real time – Its constantly updating as out members modify their profiles and new members join…. This creates a powerful data set which we can benefit from
• #9: So today I want to give you actionable recommendations about how you can use data to recruit more efficiently using three areas – Plan, Prioritise and Put Into Practise
• #10: Today ill start at the top of the funnel and look at how you can plan using talent pool analysis
• #11: First and most powerfully, you can use data to set expectations with your clients. I’m sure some of you have heard of the phrase ‘purple squirrel’ – These are hard if not impossible roles you are tasked with filling.For example, if you are approached and asked to find 10 risk professionals in Liverpool within a month. Experience tells you that is going to be difficult but you have been relying on the clients confidence in your experience to explain that this is going to be a challenge and one of the requirements may need to be adjusted.
• #12: Looking at a real example of how you can have a more factual conversation now….Hays are often tasked with filling difficult to fill roles in niche positions. Now they use LinkedIns Recruitment Tools effectively to assess the size of the talent pool and set expectations accordingly
• #13: Not only are LinkedIns recruitment tools are a powerful sourcing platform, it can also be used as an analytics tool with the breadth and depth of data we have to delve through.In this example, before committing, staff at Hays can check the size of the talent pool they are working with and liaise with the client on what is realistic. UK > 91k, Liverpool > 419, 3 to 5 years> 57After this event, for those with access to the tool, you can get started straight away sizing up the talent pools you are currently trying to hire for and reset expectations accordingly.I have access to the background databases and I still use this resource all the time before getting started on a piece of analysis
• #14: Going a step further, our largest customers also look at talent pool reports – LinkedIn Recruitment tools can help identify the supply of talent but these reports also look at how indemand a talent pool is.This is really useful in identifying the best markets to recruit talent in.In this example, you can see that although London has the highest supply of talent, this pool is also highly in demand so you will have competition to attract these people to your roles Whereas, Birmingham has a lower supply but also a lower demand – There are fewer but you will have much more chance of engaging with these people
• #15: Once you find the talent pool, the best step is to find out more about what's important to them.To build these reports, we ran surveys to identify what the talent pool are looking for – In this case you can see that excellent comp and benefits, strong career path and challenging work are the most important factors.Using this information, you can be sure to highlight these benefits in InMails and job posts for example
• #16: While working through these talent pools for clients, we found talent pools of interest across EMEA and built generic reports which contain the demand info and the survey insights
• #17: The good news is, they are publically available at….If you are filling roles in any of these areas be sure to download these documents after the event
• #18: To recap, you can use data to size up a talent pool and change your conversation with a client by setting expectations and potentially recommending alternative criteria based on the talent pool reports
• #19: Once you have identified the pool of talent you are going to hire from, you will want to prioritise who you should approach from this group
• #20: You want to target the people who are most likely to engage with you. Take these two software engineers for example.The guy on the left is clearly smart and able to do the job but he not very enthusiastic and much less likely to respond to your contact.Whereas the guy on the right is keen… if not a bit over excited, he is much more likely to respond.So how do you make sure to engage members who are engaged and appropriate?
• #21: To make sure you are engaging relevant talent, you should mobilize your employees as brand ambassadors. Earthstream employees attract 14k potential placements per month to their profiles – they recognize that this is 14k opportunities to engage potential candidates so its essential their profiles should be up to data and reflect the companies brand to increase the likelihood of winning the relevant talent pools attention
• #22: Other touch points which you have with a member are your LinkedIn pages and your followers.As you can see here, Orion have recognised the importance of having a strong presence with an engaging LinkedIn presence. As a result, 11k members have chosen to follow Orion group – Orion now have an engaged talent pool ready to inform of new job opportunities
• #23: How can we measure your employer brand & how likely it will be for a member to reach out to you over a competitor?We start by looking at the you have among external talent and how effectively you are engaging themTALENT BRAND REACH: Includes the people who know what it’s like to work at your company—those that are familiar with your company as an employerTALENT BRAND ENGAGEMENT: Includes the subset of people within your reach who are interested in you as a potential employerResearch shows that people familiar with what it’s like to work at your company are the same people connected to and engaging with your employees on LinkedInResearch also shows that people who are interested in working at your company are the same ones who are taking that extra step on LinkedIn to learn more: browsing/applying to jobs on LinkedIn, following your company, and visiting your company and career pages.Because these activities happen on LinkedIn, we can measure them. So we can see that at xyzCo, you have XXX members within your reach, and YYY of them have engaged with you and shown an interest
• #24: We use your talent brand reach and talent brand engagement to measure your talent brand index. Talent brand index measures your ability to engage the potential candidates who know about you. It measures your attractiveness among external talent. Your talent brand index is 32%, and we will use this number to benchmark and compare your employer brand to peers, over time, and across functions and geographies.
• #25: We can measure your talent brand index vs. your talent peers. Your competitors to the left of the graph have the easiest time engaging talent– talent shows high interest in them. Your talent peers on the right of this graph have a harder time engaging talent, because of their weaker employer brand.The stronger your brand, the easier it is for you to attract the right candidates to your roles.
• #26: We can also use talent brand index to determine where to focus your employer branding efforts. For example, for your functions on the left of this graph, you have an easier time hiring talent, but for the functions to the right of this graph, it has been more difficult finding talent to fill your roles. Does this resonate with you, both on and off LinkedIn?
• #27: The key is to engage members at all touch points to help warm up placements – our research has shown that candidates are twice as likely to accept an InMail when they have been engaged across all touch points – Viewed jobs, viewed your company page and follow your company on LinkedInMake sure that once you have identified the right talent pool that you are engaging them with relevant content at all touch points
• #28: To recap, you can use data to identify potential placements, benchmark against peers and diagnose strengths and weaknesses
• #29: Most importantly, how can you put it all in practise.Keep it simple – There is no need to create new work flows, just use the recommendations to enhance your current approach.As we covered in this session, straight away, you can size up talent pools to set expectations and find out how effectively you are engaging your target audience by contacting your LinkedIn representative to get your Talent Brand Index.
• #30: Hopefully this has been a useful insight for you into how you can use data to recruit by planning using talent pool analysis and prioritising the best candidates to engage
• #31: Key take away from this session to walk away with, if you cant manage it, you cant measure it so if you aren't using data in your recruitment process today, its time to change using these areas we covered today to get you started