Presentation on theme: "ReTRiM Recruitment & Talent Retention Management At 45.9% of all operating expenses, labor and related costs continue to represent the largest expense."— Presentation transcript:
ReTRiM Recruitment & Talent Retention Management At 45.9% of all operating expenses, labor and related costs continue to represent the largest expense item for hotels. Over the long term, labor costs have consistently run very close to 34% of total revenue. In 2004, labor costs were 34.4% of total revenue. If this trend persists hoteliers will find increasing pressure on their profit margins. (PKF Hospitality Research, May 9 th 2005) ReTRiM contributes to a reduction in labor-related costs, including recruitment and training, by enabling hotels to efficiently recruit from their existing internal talent pool. Wherever this is not possible, ReTRiM also powers the corporate career web site, screening all external applicants before reaching the HR office.
ReTRiM Recruitment & Talent Retention Management According to the United States Department of Labor, by the year 2010, the [US] hospitality industry will need 1.6 million new workers. During that same period, the available labor force growth is expected to dwindle to near zero. In simple terms this means that our industry will have significantly more job openings than it does job seekers (Robert Habeeb, Hotel Interactive, June 24th 2005) Retention of current talent must be among the most important answers to this challenge. Under these circumstances, the industry cannot afford to allow existing talent to evaporate, and therefore ReTRiM is the answer. Offer your existing workforce the opportunities to advance their careers according to their skills, experience and preferences.
What the experts say Redmatch takes recruiting beyond simply putting round pegs in round holes. It represents a new generation of recruitment tools…. Redmatch is in an excellent position to become the technology partner to many employment related sites. Peter Weddle (Weddle's Newsletters & Guides on e-recruiting, December 2001) Redmatch offers a product that uses AI (artificial intelligence) to take matching to a whole new level, making keyword searching and resumé parsing technology look silly. Dr Charles Handler (Electronic Recruiting Exchange, September 2002) Redmatch offers a solution that is the most advanced I have seen to date David Hurst (Online Recruitment Magazine) Redmatch is the planet Earth's best job placement application. It can perform so many functions that it is better to visit the web site and review for yourself. Budd Margolis (Pool Online, December 2002) Redmatchs software matches job-seekers with available positions based on skills and requirements, reducing the time needed to sift through ads and resumés. Olga Karif (Business Week Online, August 2004)
The challenges facing the HR manager To reduce labor-related expenses (recruitment & training) To attract and hire the highest quality talent To recruit the most qualified candidate for the position To retain existing talent, especially managers and potential managers, by providing them with appropriate career opportunities To manage both talent retention and external recruitment using a single, powerful, web-based system with lowest possible TCO
The challenges facing present and prospective employees To advance within the company To learn of new opportunities within the companys worldwide locations To learn of opportunities to be employed by, and become part of, an organization that enables and actively encourages internal advancement To use their time efficiently when job-searching To make use of low-cost services for job-searching
Present Internet and Intranet recruitment solutions Current solutions require that candidates survey job openings and then send their resumé separately to many different addresses HR Managers review huge numbers of applications, most of which are of no interest (resumass) Lacking a tool to review interested candidates from within their own company, HR managers often use the services of external and costly employment agencies Due to the lack of a competent internal search tool, many employees are attracted to serendipitous offers from competitors
ReTRiM Talent Matching Solution (1) A revolutionary web application that handles internal and external recruitment in a single system Dramatically reduces recruitment time and costs Specifically customized for the hospitality industry Provides a totally new experience, utilizing patented Matching technologies. Applicants can instantly discover for which positions they qualify. Employers can zero in on the most qualified candidates Provided on an ASP basis with no need for software installation
ReTRiM Talent Matching Solution (2) Powers the corporations career site and can be interfaced to internal HR systems Can be automatically linked to wide range of online newspaper job sections, causing position to be published on those web sites, and making the existing candidate databases available for selection Builds a live resumé database with a personal account for each candidate Utilizes a Relationship Engine that helps maintain long-term contacts with candidates and alerts them about new, matching job opportunities
ReTRiM unique reciprocal matching Employers Job Specifications Candidates Profile & Preferences Reciprocal Match Viewed by Both Parties
How does it work? Recruiters set rules regarding job openings Recruiters define job requirements Recruiters can instantly view resumés of all matching candidates from the database of all applicants, both internal and external Candidates are scored and graded according to how well they fit the job requirements Recruiters decide who will be notified about the job opening Matching candidates are notified via e-mail or SMS and invited to review the job and apply
Create a position profile and publish it once Exposure Employee Database (Controlled Match) Hotel Chain Career Site Independent Hotel Career Site External Candidate Database (Automatic Match) Screening Talent Matching Engine Output Options Scored & graded candidates are viewed and managed online Fax and e-Mail of candidates Management Online Management – Basic Online Management – Advanced (ATS)
Following are some sample screenshots as presented to the application user
ReTRiM transforms the hotel career website into a highly interactive tool for recruiting, enabling employees and external candidates to join the hotel talent community, build profiles, set preferences, and communicate with the organization. A powerful Hotel Career Web Site
Candidates are Profiled and receive a private, password-protected, account
Candidate receives a complete career management application Integrated Employer- candidate Messaging system Job Matches Marked for follow-up
Managers and hiring authorities receive a powerful online talent management tool Review candidates starting with the highest match level Send to and receive messages from candidates Applicants in whom you are interested can be marked with a red match Click to view the candidates profile and match analysis Fully integrated Applicant Tracking System
Hiring authorities receive the matching candidates profile and qualification analysis, including answers to qualifying questions.
An integrated Applicant Tracking System Track recruitment process per candidate with opinions and valuations Define stages of recruitment per available position
Integrated with web-based integrity testing systems Candidate receives message to perform integrity testing, with link. Results updated in candidate file automatically
ReTRiM benefits (1) Enables employees to take control of their careers, increasing their levels of satisfaction and therefore retention Helps HR and line managers to identify and develop top candidates Reduces cost by empowering employees to pursue their 'dream job' within your organization instead of with the competition Saves valuable manager and HR professional time by automating much of the recruitment and the staff retention process Each published position receives unique URL to enable easy publishing on additional recruitment web sites without having to re-enter position details
ReTRiM benefits (2) Reduces turn over and the cost of hiring and of re-training Retains internal company knowledge and minimizes loss of company assets Automatically retains unsuccessful candidate profiles on record for future vacancies Dramatically reduces chances of human error in screening process Reduces response time from days or weeks, to a matter of minutes
ReTRiM benefits (3) Need to recruit for positions not dedicated to the hospitality industry (marketing, for example)? Publish the position through ReTRiM and the entire candidate database of The Job Network is at your fingertips. As of May 2005, this database consists of over 1.5 million candidates, growing at a rate of tens of thousands every month. In addition, the position is available for view through The Job Network, attracting a vast audience of potential employees for ReTRiM to screen on your behalf.
ReTRiM There are dozens of vendors offering applicant tracking solutions and career web sites, but the solution offered by ReTRiM is based on a matching concept which pays off in exceptional benefits. Similar to a magnet which pulls metal shavings out of a pile of sand, ReTRiM Recruiters patent-pending Job Matching Engine automatically pulls out the relevant job candidates from the masses of job seekers. So the endless stream of irrelevant resumes (resumass) simply disappears, and the right candidates float to the top for your immediate attention.
Frequently Asked Questions How many candidate profiles exist today? As of May 2005, over 1.5 million potential employees are registered with The Job Network How many new candidates are registering every month? Tens of thousands of new profiles are being added on average every month How many positions are available on average? At any one time, about 70,000 positions are available on The Job Network How much does it cost me? As a candidate, you can register and maintain your profile for a minimal charge, paid once, and valid for your entire career path As an employer or recruiter, there are several alternative packages from which you can choose. Contact us for more detailsContact us
Thank you for taking the time to look at our recruitment and talent retention solution If you are interested in hearing more about the HSMT Group, our products and services, Please contact our Sales department