Hiring Challenges &The Role of Technology

Sohail RazzackNational Sales and Operations Head

HT Media – Internet Division5th June, 2009

Gurgaon

I am convinced that nothing wedo is more important than hiring and developing people. At the end of the

day you bet on people, not on strategies.

- Larry BossidyFormer Chairman & CEO, Honeywell International

Setting the Context

• Hiring Challenges in the Current Environment

• Impact of Technology on Recruitment

• The Next Generation of Recruitment Technology

• Role of Technology in the Interview Process

• Role of Technology in Applicant Tracking

• Role of Technology in Engaging Candidates

The Hiring Challenge:Do More, With Less

• Reduce overall cost per hire: Including reduction in attrition.

• …While continuing to attract high quality candidates: Getting the Right Man for the Job.

• …Hiring them fast

• …And of course, getting existing resources to work even harder: Improving the overall productivity of each member in the HR team.

The challenges have always been the same;just more pronounced in today’s environment.

Costs Associated with New Hires

• The Obvious Ones:

– the placement consultant fee/job portal subscription

– interviewing costs

– on-boarding and training costs

• …And the Hidden Ones:

– the true cost of a hiring mistake

– cost of losing a trained resource

– the cost of the time spent to source and shortlist from a large pool of candidates

The Hidden Ones Seldom Measured;Seldom Considered – but with huge Impact

The Role of Technologyin Recruitment

The Big Revolution: The Web

• Reach & Diversity at Lower Costs: The ability to reach wide sets of audiences that were previously out of range.

• Proactive Hiring: The ability to search databases of active & passive jobseekers.

• Favorable Selection Ratios: With a greater applicant to position ratio, the ability for organizations to be choosier when making hiring decisions.

Technology has done nothing to help improve either the efficiency or

effectiveness of the Hiring Process.

- Dr. Charles A. Handler, PhD.President & Founder, Rocket-Hire

The Impact of Internet onRecruitment Stages – A Snapshot*

Stages of Recruitment% Time Spent Pre-Internet

% Time Spent Post-internet

Job Requisition and Approval 5 5

Candidate Sourcing 50 20

Filtering & Shortlisting 30 60

Applicant Tracking & Assessment 15 15

Total 100 100

The Shift – From Sourcing to Shortlisting

The Cause – Resume Flood including unqualified, irrelevant ones;and the information overload or ‘Noise’.

*Source: Whitepaper by Redmatch

Limitations of Existing Technology

• Sourcing (resume databases) & Filtering mechanisms (keyword search) are separate:

• Keyword search – a flawed filter:

– Inaccurate and not intelligent enough to cut through the Noise.

• Search for ‘CEO’ throws up PAs to CEO

– Not Real-Time: Unable to react to updationsto database instantaneously.

Overall: Lack of integrated solutions & platforms thatfully leverage the power of technology.

In Other Words…

• Web 2.0 was a second generation revolution of the internet.

• It transformed the way the internet had operated till then and is used today – Blogs, Wikis, Youtube, RSS, etc

• …a parallel and related revolution is brewing in the Recruitment space.

• One that will transform the way online recruitment is done.

Next Generation RecruitmentTechnology: Real-Time Job Matching

INSTANTLY MATCHED &SHORTLISTED CANDIDATES

JOBREQUIREMENT

CANDIDATE PROFILE

CANDIDATE PREFERENCES

The Benefits ofReal-Time Job Matching

• Reduces Shortlisting Time

• Shortlisted Candidates Graded in order of relevance

• Automatically updates Real-Time

• Only system which accounts for Candidate Preferences

• Better Candidate Experience focusing only on relevant jobs

Enables recruiters to focus their time on qualified candidates -instead of sifting through thousands of irrelevant candidates.

Real Time Job Matching:The Impact on Bottomline

• Higher Efficiency

– An integrated platform that balances sourcing & filtering.

– Allows hiring personnel to use their time more efficiently.

• Highly Effective

– The ability to identify key job requirements.

– Improves quality of hire by filtering down to only the candidates with requisite skills.

Role of Technology inthe Interview Process

Issues with the Interviewing Process

• Fact: All candidates can look good on paper, and there’s no substitute for human judgment.

• 3 Fundamental Roadblocks:

– Lack of time

– Hassle of scheduling common timeand place for interviews

– TBL costs

A State-of-the-art Solution:Video Interviewing Technology

• Eliminates Geographical Barriers

• Real Interview Setting

• Extremely Convenient

• Ability to Rate Candidates

• Easy-to-use Dashboard

Overall: Saves critical business resources in terms of timeand cost, while maximizing reach and productivity.

Role of Technology inTracking Candidates across

Recruitment Stages

Tracking Candidates acrossRecruitment Stages

• Fact: 15-20% of time is spent tracking and monitoring candidates across different stages of the recruitment process.

• The Technology Solution: Applicant Tracking Systems

– Saves Time & Administrative Hassles

– Recruitment Workflow Management: Manages movement of applicants and candidates matches across every stage.

– Ability to Screen & Grade Candidates

Finally, The Role of Technologyin Engaging Potential Candidates

Discerning, savvy candidateswant to know more…

• Employer Information: – Lack of relevant company information– Beyond topline annual reports – the work culture,

hiring policies, career prospects, an insidersview etc

• Employer Branding:– The buzzword, but very few companies are leveraging

the power of the web to showcase themselves

• The Next Big Change: – …will be in how Social Media can be used for employer

branding and connecting with candidates– Facebook, Linkedin, Twitter, Blogs, Communities…

which ones are you on?

Stay Tuned!

About Shine• From HT Media Ltd., in partnership with the world leader in

recruitment technology solutions, Red Match.

• The latest job portal in the Indian Market

– Already over 2.3 million candidates and growing at a fast pace

– High quality database – more senior, better compensated, better educated candidates

– User-friendly and intuitive design

– Up-to-date industry & career information for candidates

• Pioneering the technology revolution in the recruitment space in India

– Real Time Job Matching

– Video Interview Technology

– Advanced and Intuitive Applicant Tracking System

Thank You!