Bank of America/CareerXroads Voice of the Industry Survey Results August 1-2, 2006.

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Presentation transcript:

Bank of America/CareerXroads Voice of the Industry Survey Results August 1-2, 2006

Overview Survey was constructed around the Anatomy of a World-Class Recruiting Organization study from RRT Survey questions designed to evaluate the performance and importance Survey was sent to 195 firms; 29 responses or 15% response rate Companies represented various industries: –Retail –Financial/Banking –Food Services –Entertainment –Technology –Medical/Pharmaceuticals –Oil/Gas –Consulting 27 Companies indicated willingness to engage in follow-on interview – 20 selected for Face to Face VOI interviews. BAC selected additional international organizations to participate in benchmarking study

How did we do……

Attracting Talent Dedicated Sourcing TeamPerformance% Importance to Staffing% Importance to Company% Just Started433% Not important00%19% Started but no measurable results18% Somewhat Important00%19% Incorporated into Strategy325% Important110%218% Perform Well vs. Plan217% Very Important550%545% Best Practice217% Critical440%218% Total12100% Total10100%11100% Dedicated Sourcing TeamHave It% Measure It% N01655% 650% YES1345% 650% Total29100% 12 (1 n/a)100% Observations: Overall “Attracting talent” category received high importance ratings among all organizations – both in staffing and company importance. Despite the importance rating of dedicated sourcing teams to the company’s success (63% Very Important/Critical), 16 companies (55%) have no dedicated sourcing teams. Branding – 47% of organizations just started in Staffing Branding, yet importance to the company was rated “critical”…is funding/sponsorship the issue? Employee referrals – 60% of organizations rated referrals as “very important to critical” to the company’s success. 61% have wither just started or incorporated into their strategy. Only 2 companies indicated they had a best practice…alignment of priorities? Search firm protocols – 70% of organizations rated search firm protocols as very important to critical for the company’s success – only 17% consider their process a best practice …opportunity for rapid improvements? Centralized Search Group #% No1036% Yes1864% Total28

Attracting Talent.. 23 responses 17 responses 21 responses 18 responses 15 responses

Candidate Selection % of New Hires Assessed #% Assessed 8 0% 6 1-5% % % % % Campus Teams Reporting Structure #Reports to 2HR 21Staffing Observations: Campus Recruitment –22 of 29 respondents indicated that they were at some stage of implementation with campus recruiting. The company’s importance rating averaged “important”. Majority of the campus teams are aligned to Staffing. Screening and Assessing – 10 of the 29 organizations use tools to screen and assess that are validated against I/O standards. The percentage of new hires requiring formal assessment are shown above. Internal Job Posting – 83% of the organizations have an internal job posting process, 87% measure it. 18 responses Internal Job PostingHave It% Measure It% N0517%313% YES2483%2087% Total29100%23 (1 n/a)100%

Candidate Selection… 19 responses 7 responses 20 responses17 responses 17 staffing/18 (company) responses

Talent Management Candidate Conversion ProcessPerformance% Importance to Staffing% Importance to Company% Just Started213% Not important00%0 Started but no measurable results425% Somewhat Important00%321% Incorporated into Strategy425% Important321%3 Perform Well vs. Plan425% Very Important643%536% Best Practice213% Critical536%321% Total16100% Total14100%14100% Observations: Candidate conversion process to “close” selected applicant had mixed results (only 57% of the companies have a formal conversion process.) Importance to staffing was between very important and critical. (Note: One company indicated they measured it but did not indicate the have it.) Candidate Conversion ProcessHave It% Measure It% N % 321% YES 16 57% 1179% Total28100% 14 (2 n/a)100%

Talent Management… Responsible for On-boarding #Responsibility 4Hiring Managers 5HR 4Learning 6Staffing 10Shared Observations: 24 of 29 organizations have on-boarding programs – only 16 organizations of the 24 measure on-boarding. 18 of 29 companies have dedicated strategies for diversity hiring. On-boarding and Diversity topped the importance ratings among all organizations. On-boarding responsibilities are aligned across several areas. 12 responses19 responses 17 responses19 responses

Management/Organization/Technology Process for Forecasting # Responses (multiple)Forecast Process 0Temps 6Critical Skills 10Leadership Succession 10None 10Other Who Owns Staffing Forecasting # CompaniesPrimary Responsibility 5 HR Partners 3 Not owned by anyone 3 Line Management 5 Staffing 6 Other - Shared responsibility all 7 Business Planning 29 Observations: Staffing Forecasting is not widely practiced –52% of organizations do not have a process. Of the 14 companies that do have a forecasting process, only 6 measure it. Ownership of the process varied. Importance to company success however, was very high to critical, which would suggest that there will be a lot more activity in this area in coming years. Staffing Forecast ProcessHave It% Measure It% N01552%754% YES1448%646% Total29100%13 (1 n/a)100%

Management/Organization/Technology… Current Quality of Hire Definitions Used Currently anecdotal feedback plus school ranking and GPA. Have designed/but not implemented yet Quality of Hire survey to obtain Hiring Manager and New Hire feedback on fit, skills, applicant rank. Scale of 1-10 (10 being best), how would you rate the quality of your new hire? Quality of candidate/hire experience of the hiring process Probably only defined by the recruiting team at this point.... CLCs 1-10 rating by hiring managers in their Recruitment Executive Dashboard Observations: Only 10 of the 29 companies currently have a definition of Quality of Hire that they use in their organization– however majority just started – importance is high to both company and staffing. There is no consistent definition for Quality of Hire.. Majority of organizations have centralized temp management programs – only 1 best in class Centralized Temp Management ProgramHave It% Measure It% N0931% 16% YES2069% 1694% Total29100% 17( 3 n/a)100%

Metrics Summary

Additional Information Country# Org. Operating w/I country Africa4 Antarctica (lol)1 Asia - Pacific Rim5 Australia4 Europe7 Middle East3 Central and South America6 North America25 List of Companies who participated in survey Blue indicates organizations who have a global staffing strategy supported by technology Air Products and Chemicals, Inc ARAMARK - Education Facilities Barnes Group Bausch & Lomb BP embarq Getronics Gillette Huron Consulting Group KeyBank Kimberly-Clark Medtronic MITRE National Security Agency/Office of the Director of National Intelligence Nationwide Nestle Waters North America P.F. Chang's China Bistro PepsiCo RBC Financial Group REI RTI International sanofi-aventis Schering-Plough Sprint/EMBARQ Tenet US Trust Wal-Mart Stores Inc. Walt Disney World Yahoo! Program to Identify Breakthrough Ideas Centralized Group to Manage InnovationBenchmarking No Yes41514 Enabling Criteria

Industry Survey Appendix

Currently Practiced in the Industry – Do they have it?

Industry Measurement & Audit – Do they measure it?

Current Industry Performance – How do they perform?

Importance to Staffing – Is it Important to them??

Importance Ratings –How important is it to the company?