W E B I N A R

THE TALENT YOU

NEED IS ALREADY

EMPLOYED.

NOW WHAT?

JASON PUTNAMS e n i o r V i c e P r e s i d e n t

j p u t n a m @ b o u n t y j o b s . c o m

B O U N T Y J O B S I N C .

PRESENTER

AGENDA

Y o u m a y n o t r e a l i z e i t , b u t y o u a r e l o s i n g m o n e y

Q u a n t i f y i n g t h e t a l e n t a c q u i s i t i o n p a i n

B e a t i n g t h e c o m p e t i t i o n = l a n d i n g t h e r i g h t t a l e n t

Q u e s t i o n s

I n t r o d u c t i o n s

G o a l s a l i g n m e n t f o r t h e w i n

P R O B L E M

YOU MAY NOT

REALIZE IT, BUT

YOU ARE LOSING

MONEY.

YOUR WORLD TODAY

U N E M P L O Y M E N T

R E T I R I N G S K I L L E D TA L E N T

at 3.6%lowest in decades

Baby Boomers are exiting in large numbers

J O B S G R O W T H

N E E D F O R T E C H S O L U T I O N S

Peaked at a record high of 7.3 million job openings

Increased reliance for fast and efficient results

S A L A R Y G R O W T H

S K I L L S G A P W I D E N I N G

Wages are up 3% over the last 12 months

Difficulty finding the right talent with the right skills

H Y P E R C O M P E T I T I V E

M A R K E T

W H E R E I S T H E S K I L L E D

TA L E N T ?

H I R E T H E B E S T B U T D O

I T F A S T

S U P P O R T G R O W T H P L A N S

F O R T H E B U S I N E S S

L A C K I N G T H E R I G H T H I R I N G

T O O L S A N D P R O C E S S E S

TA L E N T : Y O U G O T ‘ E M , N O W T R Y A N D

K E E P ‘ E M

N A V I G A T I N G T H E T W I S T S

& T U R N S

THE TALENT ACQUISITION ROLLER COASTER

S P E E D + E F F I C I E N C Y = C O M P E T I T I V E E D G E

Y O U ’ R E O N T H E H O O K T O D E L I V E R T H E T A L E N T T O

S U P P O R T B U S I N E S S G O A L S

O U T D A T E D P R O C E S S E S & L A C K O F A U T O M A T I O N W I L L S L O W Y O U D O W N

H O L D I N G O N T O S T A T U S Q U O C O U L D B E C O M E A N

E X P E N S I V E M I S T A K E

WHAT THIS MEANS FOR YOU

CAN YOU AFFORD TO

PROCRASTINATE?

Reactive hiring means

you are a step behind

the competition

Unnecessary stress

causes strain on people

and resources

Don’t lose out to the

competition for the

best talent

THE COST DOING NOTHING IS HIGH

S O L U T I O N

QUANTIFYING

THE TALENT

ACQUISITION

PAIN.

1, 2 Sullivan 2005.

3 “Korn/Ferry Survey: Executives Say Most Important Strategy for Leading Global Companies Is Talent Management.” Korn Ferry. March 21, 2013. Accessed on January 4, 2015, Read here.

U.S. spends $105 billion a year

mitigating the wrong hiring decisions.1

Less than 25% of companiesuse a unified, holisticapproach to their talent management.

45% of research respondents ranked talent management as number one in their corporate strategy, 35% stated their organizations still lacked a talent management strategy.3

A poor hire can be $200K, functioning without

employees can cost $7,000 per day—$210,000 every

month a position isn’t filled.2

THE HARD CHOICE: BAD HIRE OR SLOW HIRE?

COST OF A BAD HIRE: THE VARIABLES AT PLAY

1 Fortune, 2016 3 Ways to Weed Out a Bad Job Candidate

2 2014 study by Robert Half International,

3 The Costliest Part of a Bad Hire Isn’t What You Think, Robert Half, 2014

+ Recruitment advertising fees and staff time

+ Relocation and training fees for replacement hires

+ The negative impact on team performance

+ The disruption to incomplete projects

+ Lost customers

+ Outplacement services

+ Weakened employer brand

+ Litigation fees 2

+ Lower staff morale 4

34% OF CFOs AGREED

THAT BAD HIRES COST

THEM PRODUCTIVITY.1

The U.S. Department of Labor

estimates that the average cost of

a bad hiring decision can equal

30% of the individual’s first year

potential earnings.1

1 U.S. Department of Labor, 2003

2 CareerBuilder survey of 6,000 hiring managers and HR professionals

worldwide, 2013. What’s the Real Cost of a Bad Hire, 2014 –HRExchange

https://www.hrexchangenetwork.com/hr-talent-acquisition/articles/what-s-

the-real-cost-of-a-bad-hire

HOW DOES ONE QUANTIFY THE COST OF A BAD HIRE?

30%

27%

27% of employers in the

U.S. who reported a bad

hire said that a single bad

hire costs more than

$50,000.2

The Top 12 Reasons Why Slow Hiring Severely Damages Recruiting and Business Results, ERE, 2014

C O S T O F A S L O W H I R E :

V A C A N C Y I M P A C T S

Delayed effects on

customers and employees

Significant revenue and

productivity loss

Lose out on passive candidates

Losing valuable talent

More potential competitive salary bidding situations

Tarnished brand image for

slow decision making,

lose applicant interest

= THE EMPTY CHAIRCOST

TOTAL REVENUE LOST FOR ALL OPEN JOBS

REVENUE LOST PER UNFILLED JOB

DAILY REVENUE PER EMPLOYEE

TOTAL ANNUAL REVENUE GENERATED PER EMPLOYEE = Annual Company Revenue /# of Revenue Generating Employees

= Annual Revenue Generated per Employee /# of days per year spend generating revenue

= Daily Revenue per Employee xAverage Days Positions Unfilled

= Revenue Lost per Unfilled Job xNumber of Open Jobs

THE TRUE COST OF

AN EMPTY CHAIR

1 “Hackett: Companies Can Improve Earnings Nearly 15% By Improving Talent Management Function.” The Hackett Group. July 24, 2007. Read more here.

Aligning to the

organization’s goals to

propel the business

H O L I S T I C TA L E N T M A N A G E M E N T

Companies can see a 15% increase

in earnings just by improving their

talent management.1

D I R E C T I M P A C T O N T H E B O T T O M L I N E

Talent Acquisition is

the life blood of the

company

S U P P O R T I N G T H E B U S I N E S S

+ A V A L U E - A D D C H A R T E R

TALENT ACQUISITION: STRATEGIC, NOT TACTICAL

B E A T I N G T H E

C O M P E T I T I O N

LANDING THE

RIGHT TALENT

+ Tapping into Passive Candidates

+ About 75% of the Workforce Already Have a Job

+ What Makes Passive Candidates Tick:

- Experience-Rich and Highly Skilled in Areas of Expertise

- Not looking ≠ Not interested

- Spice Up the Opportunity at Hand

- Choice vs. Necessity

- Timing is Everything

- Better Chance of Them Only Talking to You…Not Competitors

THE TALENT YOU NEED IS ALREADYEMPLOYED…NOW WHAT?

2013

1 Source: 2013 Staffing Industry Analysts Survey

2 Out to Search: A Third-Party Recruiting And Collaboration & Performance Survey, 2017 BountyJobs

1/101 in 10 jobs engaged

third-party recruiters2

1 in 5 went out to search

to third-party recruiters3

1/52017

HIRE THE BEST, DO IT FAST

THE INTERSECTION OF TECH & HUMAN

THIRD-PARTY RECRUITERS BRING:

KNOWLEDGE OF INDUSTRY

NETWORK OF TALENT

SPECIALIZED SKILLS

FAST ACCESS

TECH HUMAN

G O A L S A L I G N M E N T

FOR THE WIN

P E O P L E

T E C HP R O C E S S

S U C C E S S

THE KEYS TO STRATEGIC RECRUITING SUCCESS

+ P E O P L E

- Break silos within the organization

- Identify & prioritize short-term and long-term needs

- Seek 360⚬ feedback

- Use the data to guide you

+ P R O C E S S

- Incorporate recruiting into the entire employee lifecycle

- Formulate a comprehensive recruiting engagement framework

- Communicate strategy

- Speed, frequency and established rules of engagement

+ T E C H N O L O G Y

- Never select a technology for technology ’s sake

- Plan implementation

- Manage change

- Measure everything

T i m e t o F i l l / T i m e t o H i r e

C o s t o f H i r e

D i v e r s i t y

S o u r c e / C h a n n e l E f f e c t i v e n e s s & S p e n d

P e r f o r m a n c e A g a i n s t I n d u s t r y B e n c h m a r k s

T i m e i n W o r k f l o w S t e p

R e c r u i t e r E f f e c t i v e n e s s / P e r f o r m a n c e

KEY TALENT

METRICS

WHAT MATTERS TO YOUR EXECUTIVES

METRICS YOU MEASURE TODAY

C o s t o f V a c a n c y / L o s s o f P r o d u c t i v i t y

R e t e n t i o n o f N e w H i r e s

Q u a l i t y o f H i r e

T i m e t o H i r e / T i m e t o S t a r t

Q U A N T I F Y T H E C O S T O F A N E M P T Y C H A I R

to build a business

case for your talent

strategy by exposing

how expensive a long

candidate search is

AT T R A C T A N D A C Q U I R E

top talent with the

right skills &

competencies to meet

business needs – tap

into passive candidates

E V A L U AT E P E O P L E , P R O C E S S A N D T E C H N O L O G Y

to support your

strategy with the right

technology &

datapoints for

increased efficiency

S T R AT E G I C U S E O F A C Q U I S I T I O N L E V E R S

with data in hand, dial

up or down in use

according to short-

term or long-term

business needs

+ A L I G N B U S I N E S S P R I O R I T I E S A N D TA L E N T A C Q U I S I T I O N S T R AT E G Y

DRIVING VALUE & BUSINESS IMPACT

THE NATION’S LEADING

TECHNOLOGY FOR EMPLOYER &

RECRUITING AGENCY

COLLABORATION2 0 0 6 L A U N C H E D

4 0 % O F F O R T U N E 1 0 0 0

$ 2 4 0 M N E W A G E N C Y F E E S A N N U A L L Y

1 0 , 0 0 0 + A C T I V E R E C R U I T M E N T

A G E N C I E S

W O R L D ’ S L A R G E S T R E C R U I T E R

E N G A G E M E N T P L AT F O R M

CONTACT US TODAY

b o u n t y j o b s . c o m

1114 Lost Creek Blvd. Suite 420

Austin, TX 78746

H E A D Q U A R T E R S - A U S T I N

450 Lexington Ave. 4th Floor

New York City, NY 10017

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