Be careful, your new Talent Community might simply be a more expensive stale database.
Let’s face it, there are two types of people in this world.
Those that have this on their phones (no-one, except maybe your mum).
And those that have this (everyone, except your mum).
People don’t open emails very often!
What’s odd though, is many hiring teams who are rightly transforming themselves into modern day “Talent Community Managers”, seem to think that sending out “engagement emails” to their Talent Community is how you keep people warm and on their toes so when you immediately need to hire them…
They are tripping over themselves to get to interview.
Well, it doesn’t exactly work that way, and whilst there has been an insurgence of HR SaaS technologies rebranding their lucrative marketing CRM software to suit recruitment, people that have worked in marketing for many years will tell you:
Sending emails degrades your database.
It’s a sad fact, but don’t take my word for it, let’s ask Mailchimp! The gurus in email marketing, who have crunched the data on over 45,361,424,068 (yes billions) of sends, 1,286,970,135 clicks, and 1,250,527,700 list subscriptions over the last year to find out subscriber’s click through rates by industry.
In summary, industries with a high click through rate (CTR) have a cruddy start point of 5.5% , which then degrades to an even cruddier 1.3% CTR.
People tune out.
But you don’t need those billions of data points to know in your heart this is what happens, we all wake up in the morning and the first thing we do when checking emails is to swipe left delete the ones we don’t need to see right now.
Those are the engagement emails you’re sending.
These low conversion rates are OK for marketing and B2B lead generation and sales, as even those numbers produce good ROI, but Talent Communities have very different objectives.
They are about the proactive building of pipelines of talent on demand, not just brand marketing. You need response rates north of 50% to truly say you have an efficient enough hiring tool to switch off paid advertising forever. 10–20 times better conversion rates than this!
Separate your engagement from employment.
Greg Savage calls this talent attention vs intention. Don’t mix them up.
These platforms were built for content, publishing, and brand engagement.
They were not built for employment.
They are a great source of talent, don’t get me wrong, but when you want to quickly know who is interested in opportunities, they are too slow.
What we’ve found at LiveHire, in building Live Talent Communities for some of the biggest brands, is that you need to keep your Talent Community platform’s communication pure-play employment. Matching people with projects real-time.
It’s for the reasons stated above. When you want to hire the best talent, you want a high and fast response rate and time.
Of course, you’re absolutely still engaging talent with interesting employer brand content on social platforms, showing off your awesome culture, ping pong tables and Wii lounge, but when you’re reaching out to them with direct employment communication, you don’t want them to have tuned out long ago.
You want your Talent Community platform to be direct, 1-to-1 or 1-to-targeted, 2-way communication via SMS, FaceTime, or direct calls.
Hire like a Human.
This is why the recruiter will never die. Good technology doesn’t automate, it humanises. It brings people closer together. Tweet This
But how do you know who amongst these pipelines of people are interested in being hired right now? How do you predict their intentions if you are not monitoring their opening rates to your non-employment related emails?
This is the problem with static databases (which are now being coupled with CRM software and rebranded as Talent Communities, but you’re still just polishing a stale database).
Engaging the database with mass email only degrades responsiveness further, and besides, there is no correlation between those that still engage, and those that are your best potential hires.
What we’ve found is that by helping people join multiple Talent Communities with the same profile, they value their profile much much more.
Much much much much much much more.
How much more?
Enough to fill 100% of your hires.
Enough to halve your annual recruitment OPEX.
Enough to halve your average time to hire.
But the catch? You need to be willing to share that persons profile with other companies.
Sharing talent? It’s a war for talent!?
I still hear this argument that companies own their database.
Do you really think that?
The internet is now your database.
People work for your brand because they want to, not because they can’t get other offers. They own themselves.
Think of it like a relationship. When has jealousy ever been a more attractive character trait than trust?
As Greg Savage succinctly puts it; it’s not a war for talent, it’s a seduction.
Laszlo Bock, Senior Vice President of Google’s People Operations states the only two things that keep good talent in your business is the quality of people they work with, and the feeling that what they do is meaningful. Tweet This
Notice that “hiding people’s access to other opportunities” did not make Laszlo’s list?
Predict people’s intentions.
Sharing the one digital talent profile across many communities meant we could start to share other things, like how fast people were responding to employment communications from any company. We developed algorithms to track the ever-changing responsiveness of hundreds of thousands of people, across hundreds of thousands of pure employment communications across the entire shared ecosystem, to predict who is most interested to opportunities at any time, rather than who is just opening your email blasts and social posts.
So companies with a Live Talent Community know who in their community is most interested in employment right now (without having to send them Christmas e-cards). Qualified, interested, available.
It’s a Live Talent Ecosystem
So, as the HR tech market heats up in 2015 to near boiling point, I’m weighing in on this philosophical discussion on what does a Talent Community mean, what are the objectives, and how does technology play its part?
The team at LiveHire’s view is; build your flourishing community of past, current and future hires, organise talent into pipelines across your entire org chart, ask those same people to follow you on LinkedIn and Facebook at the same time for employee brand engagement, but keep that separate!
Choose a Talent Community platform that plugs your community into an ecosystem of many communities, relinquish your perceived “ownership” of candidate data and start having a “relationship” instead. Let smart technology help to predict who is most interested (passive and active) in employment opportunities when you need someone.
That’s talent on demand.
P.S, we are hiring! Join our Talent Community!