In an earlier life, and at a relatively young age, I was running a business group with more than 300 people for a Fortune 500 company. Primarily out of greed, I became a recruiter, and quickly did far better than working for a living. Things fell apart when I started taking on assignments I knew little about. I’ve summarized these trials and tribulations in Hire With Your Head. An alternative title could have been How to Tame Hiring Managers, but this would have limited the audience. Regardless, that’s what the book is about.
The idea behind it was to get hiring managers to do the right thing, which conceptually is easy, less so in practice. With this perspective, here’s the short list of how hiring managers mess up the hiring process and why they need some tough love to get it right: keep reading…
The recession continues to take a toll on job boards, with Monster the latest and largest of the publicly held recruitment advertising firms to report a loss on declining revenue.
Monster said it lost $24.2 million on sales of $215.3 for the first quarter of this year. That compares to a loss last year for the same quarter of $10.3 million on revenue of $254.4 million.
That translates into a 20-cent-a-share loss, 2 cents more than the most pessimistic Wall Street estimate. Analysts, according to Yahoo Finance, had been expecting a loss in the range of 12 to 18 cents, with an average of 16 cents a share.
CareerBuilder, a privately owned company, voluntarily reports only its North American revenue, which, it said today, was $132 million, a 6.4 percent decline from the $141 million it reported for the same quarter last year.
Dice, the other major publicly held job board company, reported Wednesday that it earned 5 cents a share on revenue of $26.8 million. In 2009, it had revenue of $29.6 million and earnings of 6 cents a share for the first quarter. Wall Street bid up its stock, which closed today at $9.31, up $1.00 since Tuesday.
Monster’s financial report sent its share price tumbling in after-hours trading. An hour after the release of the numbers, even as Chairman and CEO Sal Iannuzzi was beginning to explain the numbers during a call with analysts, the stock had dropped 10 percent. It closed Thursday at $17.89 a share. keep reading…
Social networks have grown to the point where they now challenge traditional ways of communicating, marketing, and recruiting. One of the measures we often use to determine the success of our networking is to count the number of people in it. But this is not really a valuable measure: I have over 10 million first, second, and third-degree connections in LinkedIn and I get almost no value from that network, per se. I get little value because many of my contacts are active recruiters. As I am neither an active recruiter nor a candidate, not much interaction happens. And this illustrates one of the several criteria needed to make a network really valuable. keep reading…
Talent acquisition expert Ed Newman joined our webinar series again this week to give as on update on what’s new with talent acquisition systems in 2010. For more podcasts, webinars, and articles on recruiting be sure to check out ERE.net!
Many people think all phone sourcers do is phone source. Nothing could be further from the truth. Many phone sourcers of today started out life as Internet sourcers and some phone sourcers never really strayed from the original path.
In this article I’m going to discuss how Internet sourcing and phone sourcing can enhance each other. keep reading…
Did you see the contest to get a free trip to the #socialrecruiting summit? If you haven’t checked it out,
Here’s what’s going on in the ERE community this week:
- Transformative vs. Temporary Change
- Relocation “Next” Practices
- Creative Sourcing Tactics for $500 or Less
- Are Recruitment Mailings Considered “Commercial Solicitation”?
- Vacancy Rate as a Recruiting Metric
- Featured Group of the Week: TOOLS Group
1. Transformative vs. Temporary Change
Courtney Claiborne writes about the difference between transformative and temporary change saying, “We all agree that change is necessary … that in order to survive in the ever-changing landscape of our chosen professions, we MUST change and adapt — it’s the only way true performance breakthrough can happen. Yet why is it that even though we recognize the NEED to change, so many of us so often (and please forgive me for sounding harsh here) absolutely STINK at making change happen?
How do you encourage transformative change in your organization?
Search is expensive, exponentially so relative to the level of talent that you are seeking. A failed search is expensive; even more exponential is that cost relative to its particular need.
Let’s talk through this one. You just made a hire. For the sake of round numbers and because it is too early in my day for me to break out my Ti 89, let’s call this person a manager making $100,000 plus 15% target bonus.
Since this manager is a “specialist” and you are a busy HR leader who doesn’t have the time or resources to conduct this search internally, you called in a headhunter. And by the way, I love this term. It is so aggressive, and whenever someone asks me “oh, so you are a headhunter?” I beam with pride. I have the image of some primitive tribal warrior with shrunken heads strung around his neck. But I digress.
When you were choosing to use a third party for this search, how did you evaluate that talent? keep reading…
A new report says Craigslist will bring in $65.3 million from job postings this year, an amount rivaled only by the $36.3 million take from its adult ad istings.
The report by classified advertising consultancy AIM Group says quirky Craigslist will have revenues of $122 million this year. Estimates of its costs last year, suggest that it could have a profit somewhere between $89 million and $99 million. (See note at end of article for full disclosure.)
The estimated $122 million in revenue for 201o represents a 22 percent jump over 2009. Though the bulk of the growth is expected to come from the adult ads on the site, recruitment revenue is projected to increase 10.2 percent over 2009′s $59 million in estimated recruitment revenue.
If that turns out to be the case, it would be a significant achievement considering Wall Street analysts don’t expect much improvement in recruitment advertising. Yahoo says analysts expect Monster revenues to be flat to even slightly down this year. Last year, Monster and CareerBuilder (North America only) — the two biggest job boards in the world – reported declines of 33 and 27 percent respectively. (CareerBuilder is a private company and reports only some numbers voluntarily.)
Some other job boards have told me they don’t expect to see any appreciable growth until late in the year and expect to be flat to slightly up in revenue. keep reading…
The #socialrecruiting summit is coming up quickly and it is hard to not get excited about what we have lined up for all of our attendees. We have some great speakers and facilitators set to talk about some of the more practical applications of social recruiting. It is going to be held at Best Buy headquarters in Minneapolis and we’ll be hearing about how they use social media across their business.
We are thankful that we have great sponsors and a great summit chair in Kris Dunn. The folks at Fistful of Talent (one of Kris’ blogs) and Pinstripe (one of our primary sponsors) have put together a contest to give away a free trip to the #socialrecruiting summit. That’s not just a free ticket to the best social recruiting event money can buy. That part is easy. Pinstripe is going to cover your plane ticket and hotel as well. Check out the video below for the full details: keep reading…
Looking for a job as a recruiter? After a long lean period, things are looking up. The long night has ended and we’re still here. It’s over. After two years of layoffs the economy is now creating more jobs than it’s losing. In March, the economy created 162,000 new jobs. The Dow is 70% of the way back to where it was before the recession started. Retail sales are up. Housing starts are up. The ship has righted itself now that the storm has passed.
After two years of decline, any good news will do, but let’s not get carried away. 162,000 new jobs given that 15 million Americans remain unemployed is barely a drop in the bucket. About a third — 48,000 — of those jobs are result of the census. They’ll go away in a few months. 150,000 new jobs are needed per month just to keep up with growth in the population. Since December 2007, the economy has shed 8.4 million jobs and failed to create another 2.7 million, for a total of more than 11 million jobs that are missing. So even with a recovery that was producing 300,000 jobs per month it will be five years before we’re back to where we were before the start of the recession.
How is that supposed to happen? keep reading…
In our world, how you advertise and promote your company makes a huge difference, whether you are trying to attract college students or designing a new employee referral program. For more than 30 years, the Creative Excellence Awards have celebrated and recognized the forward-thinking people and advertising agencies behind the creation of such ads and promotional materials.
With the 2010 Creative Excellence Awards only a little over six months away, we are gearing up toward announcing the 2010 CEA categories, and during the process we have realized that not much has changed with these categories in some time. So, after conversations with many of you and other internal discussions, we have put together what seems to be a more current list of categories, shifting from a less print-heavy concentration to more web-based and up-to-date understanding of new ways companies are advertising today.
So here is one more chance to provide your feedback. Please comment below and let us know what you think, what you like/don’t like, and what may be missing, and we will then take that into consideration as we get ready to announce the final categories and start accepting applications on the site. keep reading…
There can be no doubt that the phenomenal growth of social media is forcing recruiters and organizations’ recruiting to become more authentic in their communications; however, the growth of social media isn’t the only driver behind the need to be more authentic. Like the boy who cried wolf one too many times, many organizations have relied on making generic claims for years with little program specifics to back them up, resulting in a candidate population that suspects and dismisses nearly all corporate produced communication.
The assessment checklist introduced in the last installment of this series can not only help you assess your current effort, but also serve as a blueprint for developing a better online career site in the future.
In this installment, the focus shifts away from the corporate career site to measuring the authenticity of social media initiatives and structured interviews. keep reading…
Spring has arrived, and much like our economic recovery, it is working to get a foothold on the slippery chill of winter. Like the seasons, business cycles are perpetual and growth and employment will return. Like the affects of a harsh winter, the landscape can forever be changed and it can be argued that the economic downturn has forever changed corporate recruiting. In many corporations, recruiting is seen as a cost center and many functions were downsized in cost-cutting measures. As economists analyze signs of economic recovery, hiring activity has picked up in comparison to a year ago. And many of these recruiting functions that were impacted by layoffs are now being challenged to keep up with hiring demand with fewer resources.
To augment the labor load balance of supply and demand, talent acquisition leaders restricted by headcount and budget limitations are partnering with external suppliers. Recruitment process outsourcing or RPO service providers are seen as a logical choice to partner for recruiting labor support. However, RPO service standards do not exist, and vary between organizations. Talent acquisition leaders are left to decipher between service offerings to identify the right partners to align with. With the term RPO being uses loosely by many suppliers, the marketplace can be confusing.
To contribute to the confusion, many of the true RPO providers have evolved from pure outsourced providers to offering specific task-oriented services to support the individual steps of the recruiting process. I describe the move from broad scope to narrow scope as the emergence of micro-recruiting services. In an attempt to understand the change, I will explore the relationship between RPO providers and their customers and the catalyst for transformation. keep reading…
Having trouble finding the right talent for your positions? Getting bombarded with the wrong types of candidates? I’ve consulted and worked with a number of clients over the past 10 years, and in that time have seen many good recruiting practices and programs, as well as my fair share of bad strategies and processes. I’ve come up with a short list of the most common barriers I’ve witnessed to recruit top talent. While this isn’t a complete list, these are the top few that most will be able to relate to. keep reading…
This week we took a look at how to successfully recruit for the healthcare industry. Matt Lowney from DaVita joined us to discuss DaVita’s road to success and some of the mistakes they learned from along the way. For more podcasts, webinars, and articles on recruiting be sure to check out ERE.net!
Carol Quinn has an interesting theory that recruiters are about to be ambushed at hiring’s equivalent of the OK Corral.
“Interviewers haven’t changed their techniques,” says the CEO of Hire Authority, a recruiter training firm. “But the job seekers have. They’ve been studying. Applicants have beefed up their ability to really look good.”
It’s her feeling that over the last couple of years, as recruiter ranks have been thinned by the recession, those left behind have had neither the time nor often the budget to improve their interviewing skills. On the other hand, job seekers, with nothing but time, have gotten better.
“There are so many sources catering to these hungry job seekers looking for a paycheck that they don’t have to look very hard for help,” says Quinn. As a point of illustration, Quinn told me that several months ago she came across a tweet pointing to a collection of videos of recruiters using behavioral interviewing techniques with a candidate. The candidate’s responses, she says, “were spot-on.” keep reading…
Have you checked out our Facebook page yet? If not, feel free to “like” us and get ERE updates in between Farmville requests and posting incriminating photos!
Here’s what’s going on in the ERE community this week:
- The 2% difference
- Core skills of an effective corporate recruiter — Part III: Selling skills
- What’s wrong with this picture?
- How important should salary be to a sales person?
- Does your company allow and encourage use of social media In the workplace?
- Featured group of the week: Healthcare staffing
1. The 2% difference
Mark Bregman writes about how a 2% drop in management efficiency can actually be quite a bit of lost opportunity saying, “If you run this company for 5 years, and you tolerate 2 “B” players rotating in and out of your management team, it might cut your annual average growth to 7%. Over 5 years time, you give up $7.5 million in revenue. If you have a $200 million company, you gave up $30 million in growth. This could erode equity by an equivalent amount when the company is sold.
What’s your feeling on this? Is getting all A players in an organization realistic or is it worth fighting for?
We received such an overwhelming positive response from our ERE webinar — “Going from Good to Elite” — that I think we struck a cord!
Even through our economic woes, downsizing, right sizing, decentralizing, centralizing, compartmentalizing . . . there are still recruiters out there who are proud to be in this profession and passionate about doing things “the right way.”
For those who missed it, we discussed the competencies/skills of Elite Recruiters and the journey to go from good to “elite.” We announced the results of our Elite Recruiter Self-Assessment Benchmarking Study in which over 1,000 recruiters have participated!
In conducting research for this webinar, I asked every recruiter who participated the question “What do elite recruiters do that average or good ones don’t?”
Shamelessly stealing from Jeff Foxworthy’s “You know you are a redneck if …” comedy routine, this question quickly evolved into: “You know you are an elite recruiter if …”
The feedback I received was not only inspiring, but also challenged me to reflect on what it truly means to be an elite recruiter, and what I need to do to be one!
Performing at an elite level doing anything is very difficult. Recruiting is no different. Documenting these attributes/competencies/skills, in a fun way, helps keep this passion burning and top of mind. Pick a few that are new to you or ones in which you know you haven’t yet achieved elite status and make it your goal to improve in these two or three areas over the next quarter. Picking even just one will no doubt increase your performance overall.
Outlined are some of my random thoughts on this topic!
You know you are an “elite recruiter” if . . . keep reading…
“This is America … a brilliant diversity spread like stars, like a thousand points of light in a broad and peaceful sky.” — President George H.W. Bush, August 1988
“… each of us has a role to play, and all of us have something to contribute. He (Bush) didn’t call for one blinding light shining from Washington — he didn’t just call for a few bright lights from the biggest non-profits; but he called for a vast galaxy of people and institutions working together to solve problems in their own backyard.” –President Barack Obama, October 2009
This article is a call to action for recruiters to actively participate in assisting veterans to connect with the support and resources they need to build a career in the civilian workforce — one connection at a time through the 1,000 Recruiters of Light Project. Below is one such story which we hope connects with you and depicts our shared vision and inspires you to become involved. keep reading…
In a recent article published by Forbes, “Keeping Ex-Employees Brand Loyal,” the author describes some of the dos and don’ts as to what companies can and should do to protect their brand image when employees leave an organization. This article really resonates with me because it speaks to why brand reputation is such a tender, yet volatile, facet of the employment value proposition. That article makes me think about how organizations manage not only their brand, but how they handle their employees, and with that, certain procedures they use when someone chooses to discontinue his/her employment. keep reading…