smart talent acquisition · they do not necessarily reflect emc corporation’s views, processes or...
TRANSCRIPT
2014 EMC Proven Professional Knowledge Sharing 2
Table of Contents
What is Talent Acquisition? ........................................................................................................ 3
Why hiring right talent is important..? ......................................................................................... 3
Traditional Hiring ........................................................................................................................ 4
A smart approach to Talent Acquisition ...................................................................................... 5
Step 1: Get resumes: .............................................................................................................. 6
Step 2: Update Analytical Engine with Job Description: .......................................................... 6
Step 3: Pump in Resumes to Analytical Engine: ..................................................................... 6
Step 4: Second Level filtering: ................................................................................................ 6
Step 5: Gather data from social media: ................................................................................... 6
Step 6: Analysis: ..................................................................................................................... 7
Step 7: Interviews: .................................................................................................................. 7
Step 8: Feedback: .................................................................................................................. 7
Benefits of Smart Talent Acquisition ........................................................................................... 7
Conclusion ................................................................................................................................. 7
Appendix .................................................................................................................................... 8
Disclaimer: The views, processes or methodologies published in this article are those of the
author. They do not necessarily reflect EMC Corporation’s views, processes or methodologies.
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What is Talent Acquisition?
Talent Acquisition is the process of attracting, finding, sourcing, and selecting on-boarding of
new or existing employees into appropriate positions within the organization. The process
applies to all types of employment relationships, including full- and part-time employees,
contractors, contingent staff, or outsourced worker relationships.
Key goals of the process are to:
Attract talented individuals to work for the organization.
Complete the full cycle from planning to deployment in a timely manner.
Place the right people in the right positions.
Ensure a pool of readily available talent.
Why hiring the right talent is important
One of the most critical aspects of growing any business is employing the right people. Get it
right and your business's growth trajectory is likely to continue or accelerate. Get it wrong and
your tentative step forward might lead to the proverbial three steps back. It's costly, stressful,
and time-consuming to manage the consequences of a wrong hire.
Entrepreneurs are happy to invest huge amounts of time and energy in making their business
move from concept to reality, and are normally happy to forgo a market-rate salary in their
pursuit of success. You also intuitively know what you want to achieve and you are motivated by
your vision – so little is required in the way of self-management. It's not quite so straightforward
when you start having to manage others, though.
When you start employing people, the capital you have worked hard to accumulate is being
invested in employees who could be earning more than you do and will rightly expect to be paid
on time each month. You will invariably want to see a quick return on your investment (ROI) or
you are likely to become frustrated. The best way to achieve a quick ROI is by spending time on
a thorough recruitment process, which will minimise your risk and maximise your opportunity.
Key to the reputation of your business
One of the major challenges for a business is establishing a reputation – ensuring that your
company name is synonymous with good work, quality service, and professionalism. With your
employees acting as the face of your business, it’s vital that you have the right people on board.
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It can take years to build a reputation and seconds to destroy one, so it’s sensible to put
procedures in place to hire right people.
Key to the future of your business
Not only are the right employees key to keeping clients happy and establishing a lasting
reputation, they are also central to a company’s internal business culture. In the very early
stages of a business – when important protection such as employer’s liability insurance have
been put in place – the first members of staff that you hire are likely to set a precedent, which
will be fundamental to the company’s ethos and attitude toward its employees in the years to
come. Recruiting people that create the desired internal culture early on can help a business
continue to hire ‘right-minded’ employees for years to come. This in turn should have a positive
effect on the quality of service that your business delivers.
The right employees are vital for any business, whether it’s an upstart in the process of
arranging its specialist business insurance or a global multi-national firm with thousands of
employees worldwide. So take time over the recruitment process, and think carefully about what
your business needs from its employees to ensure lasting success.
Traditional Hiring
There are a variety of recruitment approaches and most organizations will utilize a combination
of two or more of these as part of a recruitment exercise or to deliver their overall recruitment
strategy. Following are some models:
In-house or human resources personnel may in some cases still conduct all stages of the
recruitment process. In smaller organizations, recruitment may be done by individual
managers or recruiters. More frequently, whilst managing the overall recruitment exercise
and the decision-making at the final stages of the selection process, external service
providers may undertake the more specialized aspects of the recruitment process.
Outsourcing of recruitment to an external provider may be the solution for some small
businesses and at times, for large organizations.
Executive search firms recruit for executive and professional positions. These firms operate
across a range of models such as contingency or retained approaches, and also hybrid
models where advertising is also used to ensure a flow of candidates alongside relying on
networking as their main source of candidates.
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Internet recruitment services include recruitment websites and job search engines used to
gather as many candidates as possible by advertising a position over a wide geographic
area. In addition, social network-sourced recruitment has emerged as a major method of
sourcing candidates.
A smart approach to Talent Acquisition
The approach below aims at offering a “smart and intelligent” way of hiring resources.
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The steps involved in this Smart Talent Acquisition solution are:
Step 1: Get resumes
First and foremost, an organization should get resumes to look for potential candidates to fill the
vacancies or new openings in the organizations. Resumes can be obtained from:
Referrals
Consultancies
Resumes submitted on company website
Step 2: Update Analytical Engine with Job Description
The job description (JD) or job duties along with basic skills required for the job are fed into the
Analytical Engine. This will be a one-time activity for each kind of job. Existing entries in the
Analytical Engine could be updated with new job duties as well.
Step 3: Pump in Resumes to Analytical Engine
The next step is to either manually pump in the resumes to the Analytical Engine or make it an
automated process to get the resumes from the resume repository. The Analytical Engine will
filter the resumes based on the criteria/JD/Skills fed into the engine.
Step 4: Second-Level Filtering
The Analytical Engine refers to the database for statistics such as consultancies from which
employees have been selected in the past and people coming from which company perform
better. Based on the statistics, it filters the resumes to the Second level.
Step 5: Gather data from social media
The Analytical Engine collects the following information on the filtered resumes.
Personal/Professional details of the candidate from social networking sites, ie.
Facebook, Twitter, LinkedIn, and so on.
Candidate’s project, previous employer-related information from the Internet.
Candidate information from people who have been hired lately coming from the same
organization.
The data above is collected by performing the analysis using Linked Data, “R” models.
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Step 6: Analysis
Based on the analysis, the Analytical Engine sends information on the shortlisted candidates to
the Manager in a readable/pictorial form by using open source graphical plugins such as Neo4j
or livegraph.
Step 7: Interviews
Interviews are scheduled for the filtered profiles (selected by Manager by using the report
generated by the Analytical Engine).
Step 8: Feedback
Based on the interviews process, statistics, i.e. candidates from which College or Consultancy
have outperformed, are fed into the database which can be referred to while interviewing next
time.
Benefits of Smart Talent Acquisition
Smart hiring is achieved by using previous data and information from social sites
Reduced recruitment cost resulting from less manual intervention.
Produces good quality candidates
Helps to find right talent at right time.
Helps Management understand the candidate better in terms of personal (attitude,
background, culture, etc.) and professional (recommendations, project details, skills,
etc.) details, thereby helping to determine if the person fits in the team.
Helps Management understand the candidate better by looking at the pictorial
data generated using the visual graphs.
Conclusion
Business is imagined by people, started by people, and run by people.
However, finding the right talent to run the business is the greatest challenge faced by
organizations. A bad hire can cost up to 3.5 times the salary of the job in question. How does it
affect the team? Managers feel drained, morale suffers, productivity diminishes.
Smart hiring is the only solution of having right people!
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Appendix
1. Talent Acquisition - http://www.pi-europe.com/talent-management/talent-
acquisition
2. Recruitment - http://en.wikipedia.org/wiki/Recruitment
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