strategic sourcing (talent acquisition): revisited, re-defined, & game-planned
DESCRIPTION
Don't just play the existing Talent Acquisition game better; Change the Game!TRANSCRIPT
![Page 1: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/1.jpg)
1
Kennedy Sourcing Summit 2008:
Strategic Sourcing: Revisited, Defined, and Game-Planned.
-------------------------------------------------------
Joshua LetourneauManaging Director
LG & Assoc Search / Talent Strategy
![Page 2: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/2.jpg)
2
Today’s Discussion
If Only We Could Slow Down . . . We Could See The Subtle Shifts In Play Around Us!
Agenda in Brief:
a. Sourcing Vs. Strategic Sourcingb. 6-Step Process to “Change the Game”c. Relevant Examples
![Page 3: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/3.jpg)
3
Help Me Answer An Easy Question . . .
So, What is Sourcing?
“Candidate sourcing activity typically ends once the name, job title, job function and contact information for the potential candidate is determined by the candidate sourcer.” (From Wikipedia 11/1/08)
Primary: Phone Secondary: Internet
http://www.youtube.com/watch?v=sW-PHukzdgM
![Page 4: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/4.jpg)
4
Ok, So What Is Strategic Sourcing?
???
Define Strategic:
“A strategy is a long term plan of action designed to achieve a particular goal, most often "winning". Strategy is
differentiated from tactics or immediate actions with resources at hand . . .
. . . by its nature of being extensively premeditated, and often practically rehearsed.”
![Page 5: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/5.jpg)
5
Recalling SourceCon 2007
“Model Sourcing Organization” is asked by audience member:
Q: “How Do You Decide Where Sourcing Will Make the Most Impact?”
A: “Honestly, We Source Where There Is The Most ‘Heat from Hiring Managers’.
--------------------------------------------------------Q: “What Metrics Do You Use To Define Sourcing Success?”
A: “Growth, or # of New People, Added to the Database.”
![Page 6: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/6.jpg)
6
Now, Is That Strategic?
Like Most Americans Who Are Overfed On Carbohydrates and Underfed on Protein . . .
We’re overfed on Tactics and Underfed on Strategy!
![Page 7: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/7.jpg)
7
Observation From “The Fringe”
I don’t know about all of you, but from where I’m standing, it sure seems as if demand is being fueled in terms of Sourcing
Efficiency (more names in less time for less cost) . . .
![Page 8: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/8.jpg)
8
Let’s Pause For A Moment
Current Recruiting Visualizations Reflect Assembly Lines and Funnel Systems
Insight: People Don’t Like Feeling of Being Treated As Inanimate Objects On An Assembly Line!
![Page 9: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/9.jpg)
9
Observation From “The Fringe“ (Cont.)
Focus Seems To Be On Sourcing Efficiency Instead of Talent Acquisition Effectivness.
Hiring More Great People In Less Time For Less Cost* . . . at Higher Day-1 Excitement/Engagement Levels than
the Competition!
![Page 10: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/10.jpg)
10
Let’s Keep Our Eyes On The Ball!
Metrics are outstanding Health Indicators . . . And hold value as a result.
However, the mechanistic mindset of process improvement often promotes a focus on the Output instead of the Outcome.
---------------------------------------------------------
“The whole visible world is as if it were a machine in which there was nothing at all to consider except the figures and motions of its parts.”
![Page 11: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/11.jpg)
11
Visiting the Notion of Process Improvement
Most Companies Focus On What They’re Already Doing Pretty Well!
Incremental Quality ImprovementsModest Production Efficiencies
And lose their ability to think (imagine) outside the box.
![Page 12: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/12.jpg)
12
Today: Knowledge Workers / Tacit = Complex Interactions
Fyi:
![Page 13: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/13.jpg)
13
Today: Knowledge Workers / Tacit = Complex Interactions
In contrast to transformations and transactions, which can be mapped and codified . . .
Tacit interactions depend on complex mixtures of judgment, problem-solving and information exchanges, often involving group behavior that is difficult to replicate.
However, to get the most from workers involved in tacit interactions, managers must abandon much of what they think they know about strategy, organization and information technology.
- James Manyika (May 2006)McKinsey Quarterly Writer (May 2006)
![Page 14: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/14.jpg)
14
Today: Knowledge Workers / Tacit = Complex Interactions
:
![Page 15: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/15.jpg)
15
How Can Your Company Change The Game???
1. Identify What Roles Within Your Organization Are Most Critical to Creating or Preserving Competitive Advantage.
Talent Strategy Begins with Organizational Strategy
- *** Where Does Your Strategy Require Talent That Is Better Than Your Competitors? ***
--------------------------------------------------------------
Strategy Points To Review: (Including, but not limited to)
Key Differentiators?Value Proposition?Brand Essence?
![Page 16: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/16.jpg)
16
How Can Your Company Change The Game???
Disneyland Vs. Cedar Point Park
Disneyland Cedar Point
Key Differentiator Disney Characters Roller Coasters
Value Proposition “Happiest Place on Earth”
“Roller Coaster Capital of the World”
Brand Essence Fantasy Thrills
Top Website Feature
0% Disney Vacation Financing
Blog/Discussion Page for Roller Coaster Fans
![Page 17: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/17.jpg)
17
How Can Your Company Change The Game???
Identifying Critical Talent Through Your Financials
- What SBUs’ Compromise the Majority of Revenue &/Or Growth?
- What Product Lines Comprise the Majority of Revenue &/Or Growth?
- What Customer Segments Comprise the Majority of Rev &/Or Growth?
- What Is Your Per-Employee EBITDA? (“Operating Cash Flow”)= [Revenue – (Cost of Sales + Operating Expenses)]
![Page 18: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/18.jpg)
18
SBU Revenue & Growth TreeMap (Size = Rev / Color = Growth)
![Page 19: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/19.jpg)
19
SBU EBITDA Per Employee TreeMap (Size = Rev / Color = Growth)
![Page 20: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/20.jpg)
20
How Can Your Company Change The Game???
2. Identify What Roles Within Your Organization Are Most Pivotal.
- Where are Your Pivot Points, or “Areas with significant deviation between low performers and high performers?
Hint: Start with your critical roles (or most important SBUs’) and work backward.
![Page 21: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/21.jpg)
21
Do You Have Access to A Product Portfolio Map?
Example: GE McKinsey MatrixIf you do, it will contain many valuable insights to help you identify ‘Sourcing Targets of Opportunity’ (plus this will impress and gain buy-in of Mktg & Finance Leaders, to say the least.)
![Page 22: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/22.jpg)
22
Understanding Pivotal Talent
![Page 23: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/23.jpg)
23
How Can Your Company Change The Game???
Multi-Functional Facilities Manager (Electrical & Equipment Maintenance)
– 2 Engineers• Electrical Engineer & Software Engineer
– 6 Supervisors• High-Voltage: 2• Controls: 18• Outside Buildings: 14• Electrical Maintenance: 15• Construction: 12• Graveyard + Swing-Shift: 5 + 7
![Page 24: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/24.jpg)
24
How Can Your Company Change The Game???
Critical Talent Segment = High-Voltage Supervisor
– “If I lose power to the facility, I have to send 7000 employees home . . . And that would be a real bad day.”
Pivotal Talent Segment = Janitors
– “Because the President of the facility knows that squeaky clean = a higher Wall-Street multiple when the Analysts visit.”
![Page 25: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/25.jpg)
25
How Can Your Company Change The Game???
Key Insight – Decision Theory
Embrace the Notion that There is a Logical and Financial Justification for Increasing Our Investment Geared at Identifying, Attracting, Engaging, and Hiring . . .
“Critical” Talent
AND
“Pivotal” Talent
![Page 26: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/26.jpg)
26
How Can Your Company Change The Game???
3. Dive Into Your Data and Evaluate COH Across All Roles.
- The Marketing Discipline has provided us the tools we need to perform this type of evaluation:
![Page 27: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/27.jpg)
27
How Can Your Company Change The Game???
Where Is The “Bleeding” Occurring? . . .
![Page 28: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/28.jpg)
28
How Can Your Company Change The Game???
Key Insight: How Are We Trending?
![Page 29: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/29.jpg)
29
How Can Your Company Change The Game???
4. Map Your Roles On a Talent Segmentation Matrix.
Hints:
- Graph ‘Importance to Organization’ on the X-Axis (Scale 1-10)
- Graph ‘Difficulty to Identify/Engage/Close on Y-Axis (Scale 1-10)
- Make Size of Bubble = Relative Size of Internal Talent Pool
![Page 30: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/30.jpg)
30
How Can Your Company Change The Game???
![Page 31: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/31.jpg)
31
How Can Your Company Change The Game???
Talent Segmentation Matrix Leads Us Key Questions:
Where Are Our Purple Squirrels?
Do We Have Purple Squirrels That Are Non-Critical?
Where Is Our Executive Search Spend Occurring? (Is This Spend Justified?)
* Insight: We Can Make a STRONG Case for Increasing Investments In the Upper Right (and Sometimes Upper Left Quadrant).
![Page 32: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/32.jpg)
32
How Can Your Company Change The Game???
5. Apply Portfolio Theory To Your Talent Acquisition Efforts.
![Page 33: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/33.jpg)
33
How Can Your Company Change The Game???
Portfolio Theory Expands Our Thinking and Moves Toward a Decision Science:
Insight: Portfolio Theory involves viewing each Talent Pool investment in mutually exclusive fashion.
Goals:Reduce COH Where FeasibleReduce TTF Where FeasibleIncrease QOH
![Page 34: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/34.jpg)
34
How Can Your Company Change The Game???
6. Implement Strategic Sourcing Element.
“Special Operations” Mindset
This Element should focus on Plays of significant strategic value:
Proactive Talent PipeliningCompetitive IntelligencePsychographics Research
![Page 35: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/35.jpg)
35
How Can Your Company Change The Game???
Proactive Talent Pipelining Drives Competitive Advantage
- Creating Competitor Lists & Identifying Similar Roles- Identifying HiPo Profiles & “Lateral Fits”- Building Relationships with Competitive Talent- Identifying/Attracting/Engaging Talent Proactively
Increases QOH and Reduces TTF . . . While Increasing Hiring Manager Satisfaction (HM_Sat)
![Page 36: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/36.jpg)
36
How Can Your Company Change The Game???
Proactive Talent Pipelining Visual (By Competitor)
![Page 37: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/37.jpg)
37
How Can Your Company Change The Game???
Proactive Talent Pipelining Visual (By Location)
![Page 38: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/38.jpg)
38
How Can Your Company Change The Game???
Proactive Talent Pipelining Visual (SNA – Recruiter/Sourcer)
![Page 39: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/39.jpg)
39
How Can Your Company Change The Game???
Proactive Talent Pipelining Visual (SNA – Derek)
![Page 40: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/40.jpg)
40
How Can Your Company Change The Game???
Brief Detour - Psychographics (Adjective Cloud)
![Page 41: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/41.jpg)
41
TA Innovation’s Ultimate Embodiment
Let’s Play Out a Scenario:
*The process of dividing the total market into smaller sections based on shared characteristics.
![Page 42: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/42.jpg)
42
TA Innovation’s Ultimate Embodiment
Let’s Play Out a Scenario:
![Page 43: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/43.jpg)
43
TA Innovation’s Ultimate Embodiment
*
![Page 44: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/44.jpg)
44
TA Innovation’s Ultimate Embodiment
Red-5 Studios (IPod Strategy)
a. Hand-Picked 100 Dream Candidates (Hiring Target: 5)b. Studied their Backgrounds/Interests through Their Social
Networks and Blogsc. Mailed iPods in Pyschographics-Driven Packagingd. CEO Left a Personalized Message
Result: 90 Replies / 3 Immediate Hires
![Page 45: Strategic Sourcing (Talent Acquisition): Revisited, Re-Defined, & Game-Planned](https://reader037.vdocuments.site/reader037/viewer/2022110306/5555219eb4c9058b2f8b563b/html5/thumbnails/45.jpg)
45
Conclusion: Take Your First Step Today!
Big Companies fear that they are too slow and not agile enough to compete with “The Little Guys”.
- “The Wolves Coming Up the Hill Might Be Hungrier, But the Wolf On Top of the Mountain Always Eats.”
Little Companies fear they can’t compete because they don’t have the capital and resources of “The Big Guys.”
- Suggested that with the proper tactics, the smaller/weaker unit could gain strength while weakening the larger/stronger unit.
*** Confucious: “A Journey of a Thousand Miles Begins With a Single Step.” ***