Date post: | 20-Jan-2017 |
Category: |
Recruiting & HR |
Upload: | talent-leaders-connect |
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W E A R E
V I D E O - L E D T E C H N O L O G Y A N DH R S A A S - B A S E D D ATA A N A LY T I C S
2 www.launchpadrecruits.com
The Business Problem
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
How do we achieve better and more efficient hiring decisions,
while improving candidate engagement?
3 www.launchpadrecruits.com
The Business Problem
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
BUDGET + RESOURCE
HIRING VOLUMEHIRING QUALITY
TIME TO HIRECOST TO HIRE
DIVERSITY GOALS
4 www.launchpadrecruits.com
THE GOAL OF RECRUITMENT
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
REJECT HIRE
GOOD FITSHOULD HAVE HIRED
HIDDEN GEMS
Ideally all hiring decisions are made here
POOR FIT Ideally all candidate rejections
are made here
SHOULD NOT HAVE HIRED
MIS-HIRES
5 www.launchpadrecruits.com
MISSING THE HIDDEN GEMS
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
INITIAL SCREENING
HR ASSESSMENT
HIRING MANAGER INTERVIEWS
OFFERS MADE
OFFERS ACCEPTED
6 www.launchpadrecruits.com
COSTS OF A MIS-HIRE
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
“A single mis-hire costs UK PLC4 to 14 times base salary”
Source: CIPD & Top grading, Brad Smart
SEVERANCE HIRINGCOSTS
OPPORTUNITY LOSS
MAINTENANCE
DISRUPTIONCOSTS COMPENSATION
7 www.launchpadrecruits.com
Never apply to company again
Not accept job offer
Tell others not to apply to company
Negative Glassdoor review
Not buy company's products
Tell others to not buy company's products
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
40%
14%
22%
14%
12%
11%
43%
49%
37%
34%
30%
23%
17%
37%
41%
53%
58%
66%
Much more likely Somehwat more likely
CANDIDATE EXPERIENCE
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
Poor candidate experience increases costs of attraction and selection due to higher candidate drop out rates at each stage of the process
Source: Software Advice 2015
8 www.launchpadrecruits.com
TIME TO HIRE
Your time to hire
Alternative organisation time to hire
Alternative organisation time to hire
Alternative organisation time to hire
Longer time to hire increases costs of attraction and selection due to qualified candidates taking other roles
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
9 www.launchpadrecruits.com
THE IMPORTANCE OF SELECTION
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
GROWTH + ATTRITION
Better OutcomesLower Attrition
SELECTION
Faster Time to HireBetter Decisions
PROCESS
Faster, Simpler ProcessOperational Cost Savings
Greater Candidate Engagement
ATTRACTION
Fewer Candidates NeededLower costs of Attraction
FOCUSHERE >
10 www.launchpadrecruits.com
WHAT WE DO
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
We use science and video to move our customers towards
near perfect recruitment decisions
11 www.launchpadrecruits.com
THE LIGHTBULB MOMENT
A CLEAR PATTERNRELATED TO THE TIME OF DAYAverage Score, across all reviewers, each hour Negative reviewer vs Positive reviewer – Score distribution
Average Score per review criteria
SOME REVIEWERS ARE CONSISTENTLYNEGATIVE, OTHERS ARE POSITIVE
SOME CRITERIA DO NOTDIFFERENTIATE CANDIDATES
Negative correlation – Average answer vs count of videos viewed
REVIEWERS BECOME MORE NEGATIVEAS THEY REVIEW MORE CANDIDATES
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
12 www.launchpadrecruits.com
OUR SOLUTION
OBJECTIVE+ CONSISTENT
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
Launchpad RECRUITVideo Assessment
Launchpad VERIFYConsistent Decisions
13 www.launchpadrecruits.com
VERIFY IN ACTION
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
MI InsightsLaunchPad SignalsMachine Learning
AlgorithmBehaviourmonitoring
Real Timefeedback
REVIEWER
A
REVIEWER
B
REVIEWER
C
Monitor reviewer behaviours
and identify potential biasMaximise candidate score confidence with optimised
candidate allocation
Test reviewers against known ‘correct’ scores
Provide real-time feedbackfor reviewers
Assessment DesignFeedback to help recruiters optimise the assessment
design
Reviewer SupportComparative performance,
provide actionable feedback and potential training requirements
Candidate Score Confidence
Quantify confidence in scores given to individual
candidates
14 www.launchpadrecruits.com
VERIFY: INSIGHTS DASHBOARD
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
15 www.launchpadrecruits.com
( )
MAKING BETTER DECISIONS WHILE REDUCING COST PER HIRE
Attract ion + Process + Select ion Costs
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
Number of h i resCost Per Hi re =
0
1
TIME
COST
PER
HIR
E
No change
With Video assessmentWith Verified assessment
16 www.launchpadrecruits.com
THE VALUE OF SUPERIOR RECRUITMENT
Cost Savings
Operational Costs Reduced
Time to Hire Reduced
Hiring Manager Time Reduced
Attrition Reduced
Value Creation
Employee Engagement Improved
Diversity & Inclusion Improved
Candidate Experience Improved
Quality of Talent Improved
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
17 www.launchpadrecruits.com
PROVEN RESULTS
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution
www.launchpadrecruits.com
Feedback?
© 2015 LaunchPad. All rights reserved | Nov 2015 | Confidential – Not for redistribution