Quantify your Impact: How to Measure the ROI of your Talent Brand

Jamie Drayton Talent Brand Consultant

LinkedIn

Alison Catanzarite Media Account Manager

LinkedIn

believetalentbrandstrengthmakesa“significantimpact”ontheirabilitytohireonabilitytohire

77%

averagereductionincostperhire

50%

averagereductioninturnover

28%

talentprofessionalssaytalentbrandisatoppriorityin2015

56%

We know that Talent Brand is important

Source: LinkedIn Global Recruiting Trends Report, Nov 2014

We know that Talent Brand is important

Source: LinkedIn Talent Trends Report, March 2014

Reputation as a “great place to work”

Reputationfor“greatproducts/services”

Reputationfor“greatpeople”

Reputationfor“beingprestigious”

Reputation for “great products /

services”

Reputation for “great people”

Reputation for “being

prestigious”

56%

Candidates tell us it’s important when deciding their employer

Reputation as a “great place

to work”

But how do you prove your talent brand is important?

1. Know the language

2. Find your partners

3. Measure what matters

4. Beware of pitfalls

5. Apply something new

5 Steps to Measure your Talent Brand

Step OneKnow the Language

Employer Brand n.

How you, the employer, promote your company as a place to work

10

Talent Brand n.

the highly social, totally public version of your employer brand incorporating what talent thinks, feels, and shares about your company as a place to work

a significant asset for both hiring/retaining great talent and promoting your corporate image to the market

50%of professionals around the world discover new job opportunities through word of mouth

Step TwoFind Your Partners

13

CompanyBrandandTalentBrandaretwosidesofthesamecoin.

Step ThreeMeasure what Matters

POTENTIAL CANDIDATES

AWARENESS

ENGAGEMENT

LEADS

HIRESAttract

Know your Goals

5 Key Metrics

METRIC 1: SOCIAL MEDIA

FOLLOWER QUALITY

METRIC 2: RESPONSE RATES

METRIC 3: APPLICANT QUALITY

METRIC 4: TIME TO HIRE

METRIC 5: NEW HIRE ALIGNMENT

Metric 1 Social Media Follower Quality

KNOW YOUR FOLLOWERS:

Function Seniority Industry Company size

Sales

Information Technology

Engineering

Marketing

Operations

11%

9%

9%

8%

8%

Visitor Demographic

of members are interested in job opportunities from companies they are following

Members are 61% more likely to share information as a result of following your company71% 61%

 Track targeted follower change as part of overall follower growthTips for Visualizing your Success

Sep-14 Oct-14 Nov-14 Dec-14 Jan-15 Feb-15 Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-150

1000

2000

3000

4000

5000

6000

7000

8000

9000

8,020total followers

2,320total tech followers

40% YoY Growth

60% YoY Growth

TAILOR YOUR TALENT BRAND STRATEGY FOR DIFFERENT AUDIENCES

 Plot campaigns against key success metrics to analyze correlationTips for Visualizing your Success

January February March April May June July August September0

50,000

100,000

150,000

200,000

250,000

300,000

350,000

400,000

450,000

0

2,000

4,000

6,000

8,000

10,000

12,000

14,000

16,000

18,000

Impressions served

Followers

Metric 2 Response Rates

If you’ve effectively built awareness, you should expect a higher response rate across priority talent pools.

Followersare

81% morelikelytorespondtoan

inMail

Global e-commerce company has huge uptick in response rate from engaged talent

20%

48%

No Engagement withyourbrand

Engaged withyourbrand

+140%RESPONSE RATE

Tips for Visualizing your Success Track response rates over time to see trends

Asyourtalentbrandstrengthens,youshouldseeanincreasingresponseratefromtargetedtalentpools

January February March April May0%

5%

10%

15%

20%

25%

30%

Average Response Rates for Engineering Talent

Metric 3 Applicant quality

Who are the quality candidates?

Subjective What does it mean to your company?

Good fit for the company

Good fit for the role

 Stack quality vs. non-quality candidates on a chartTips for Visualizing your Success

Week 1 Week 2 Week 3 Week 40

10

20

30

40

50

60

70

Non-qualityQuality

# of

app

lican

ts

Metric 4 Time to hire

Your talent branding activities should build a strong pipeline and start more conversations with qualified talent, thereby lowering your time to hire.

CompanieswithastrongtalentbrandonLinkedInreporta

20% Fasterrateofhire

Tips for visualizing your success Track time to hire as a whole, or for specific roles

Timetohireforengineeringroles Timetohireforengineeringvs.allroles

Week 1 Week 2 Week 3 Week 4 Week 50

5

10

15

20

25

30

35

40

Engineering - time to hireDay

s

Week 1 Week 2 Week 3 Week 4 Week 50

5

10

15

20

25

30

35

40

Engineering - time to hire

All roles - time to hire

Metric 5 New hire alignment

Monitor the authenticity of your talent brand with a new hire alignment check

Survey New Hires Did their expectations match reality?

Has your experience working here matched your expectations?Scale: 0 (not at all) – 5 (highly matched)

“Please explain why you selected that choice” so you can gain additional insights.

Send90daysafterstart Ensureanonymityforhonestanswers ToolslikeGoogleFormsorSurveyMonkeyarefree

andeasy

 Graph alignment over time, preferably by functionTips for Visualizing Success

Q1 Q2 Q3 Q40

0.5

1

1.5

2

2.5

3

3.5

4

4.5

SalesMarketingITHR

Alig

nmen

t Sco

re

Seeing Poor Alignment? Tips on how to adjust

1. You’re not sharing enough

2. Need to course-correct

“You have to embrace who you are, in all its hideousness or all its glory. Because that’s who you want to attract—talent with that shared passion and shared ideology.”

Ed Nathanson - FounderRed Pill Talent

Step #4:Beware of pitfalls

1: Forgetting that branding is both a science and an art

2: Measuring for the sake of measuring

3: Analysis paralysis

The journey of a thousand miles starts with a single

step.-Lao Tzu

Step Five

Apply Something New

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