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Two Sides of
the Same Coin:
Recruiting & Retention
Tara Dwyer
Webinar Coordinator
Human Resources Today
Caitlin MacGregor
CEO & Co-Founder, Plum
March 21st, 2023
9:30 am PDT, 12:30 pm EDT, 4:30 pm BST
With
Lever is a leading Talent Acquisition Suite that makes it easy for talent
teams to reach their hiring goals and to connect companies with top
talent. Lever is the only platform that provides all talent acquisition
leaders with complete ATS and robust CRM capabilities in one product,
LeverTRM. The LeverTRM features allow leaders to scale and grow their
people pipeline, build authentic and long-lasting relationships, and source
the right people to hire. Lever Analytics provides customized reports with
data visualization, offers completed, interview feedback, and more, to
inform strategic decisions between hiring managers and executives alike.
Our platform also enables companies to hire with inclusivity in mind,
helping eliminate any hiring bias. Lever supports the hiring needs of over
5,000 companies around the globe including the teams at Netflix, Spotify,
Atlassian, KPMG, and Nielsen. Lever is now a subsidiary of Employ,
offering the industry’s most comprehensive talent acquisition portfolio.
Learn more at
www.lever.co
TO USE YOUR TELEPHONE:
You must select "Use Telephone" after joining
and call in using the numbers below.
United States: +1 (562) 247-8422
Access Code: 782-614-788
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Click on the Questions panel to
interact with the presenters
Caitlin MacGregor
CEO & Co-Founder,
Plum
Two Sides of the Same Coin:
Recruiting & Retention
When People Flourish, Business Thrives.
“We are accelerating toward the new world
of work.”
⁃ George LaRocque, Founder, WorkTech
Let's Take a Moment
Think about a time when…
You were your happiest at work
a) What made you excited to jump out of bed in the morning?
b) What were you doing that filled your proverbial cup?
Now, think about a time when…
You were unhappy, unmotivated, or burnout at work
a) What were the activities you were doing that drained your bucket?
b) What did you feel was taxing and took forever to do?
Thinking about our drivers and drainers
Drivers
Drainers
50.5 million quit
The new criteria for accepting job offers
14
64% 61% 58%
A significant increase in
income or benefits
Greater work-life balance
and personal wellbeing
The ability to do what they
do best
“Companies must tailor their workforce
strategy to the unique needs of their
workers.”
⁃ PricewaterhouseCoopers
Being Happy at Work Matters
17
4X 2X 21%
Happy employees stay
in their jobs four times
longer than unhappy
employees
Happy employees
commit twice as much
time to their tasks
Companies with a highly
engaged workforce have
21% higher profitability
[iOpener Institute for People and
Performance LTD]
[iOpener Institute for People and
Performance LTD]
[Gallup]
The Cost of Missing the Mark
18
$11B $550B 47%
Amount of US companies
spend annually on
employee turnover
Amount US employers lose
annually due to a lack of
engagement with the job
Of HR Chiefs cite
employee retention and
turnover as their top
workforce-management
challenge
[Gallup] [Hubspot] [SHRM]
Leaky Bucket Problems
11M Unfilled jobs
in the US
$11B
Companies spend
annually on turnover
Solution to the Leaky Bucket
Screen people IN
- AND –
Increase retention
The way we used to match
Resume parsing (keywords)
doesn’t work
in our post-pandemic world
Psychometric data is 4X more predictive of performance than a Resume
General Guidelines for Interpreting Validity Coefficients
Department of Labor - US (1999)
Age Education Experience References
Unstructured
Interview
Innate
Talents
Structured
Interview
Job Tryout
0
0.13
0.25
0.38
0.5
Unlikely to be Useful Situational Likely to be Useful Very Beneficial
$300,000
A poor hiring decision can cost
When People Flourish,
Business Thrives.
I/O Psychology understands:
1. The Human behind the work — What drives & drains someone
2. The behavioral needs of every job (KBIs)
3. The alignment between the person and the job, predicting where someone has the greatest
potential to succeed and thrive if given the opportunity
Adaptation Communication Decision Making Embracing Diversity Managing Others
Innovation Conflict Resolution Execution Persuasion Teamwork
Universal Talent Model for measuring human potential and job needs
26
Quantify innate Talents
Talent Competencies Description Behaviors
Focusing on quality of output
Meeting expectations by being thorough,
organized, and detail-oriented, and accepting
responsibility for mistakes.
• Demonstrating thoroughness and attention to detail
• Always trying to do the best possible work
• Learning what is important to produce quality work
• Completing work in a timely manner without making errors
• Accepting responsibility for mistakes
Monitoring progress
Monitoring performance and comparing
performance to standards to ensure high
expectations are met.
• Doing the best possible work to achieve challenging goals
• Improving performance by analyzing prior mistakes or problems
• Monitoring activities and overseeing resources
• Learning what is important to produce quality work and avoid costly mistakes
Setting challenging goals
Setting goals that are measurable, time-based,
challenging, and both short- and long-term
focused.
• Developing specific goals to prioritize and organize work
• Skillfully tackling challenging problems
• Establishing short- and long-term goals
• Remaining calm and level-headed when faced with multiple or conflicting goals
Execution
Setting goals, monitoring progress, and taking the initiative to improve your work
Match People to Roles in 3 Easy Steps
28
1. Candidate/Employee Assessment 2. Employer Match Criteria Survey 3. Match Score
One-time 20-25 min assessment 8 min Job Analysis Match people to roles
Drives
Drains
Teamwork
Adaptation
Execution
Innovation
Formulating plans to implementation
Generating new ideas
Identifying impact of possible solutions
Anticipating problems and choosing solutions that avoid them
Seeking out new ideas and critically evaluating them
Establishing objectives and specifying the strategies and actions to achieve them
Finding and generating valuable solutions
Using unconventional approaches to solve problems
Suggesting creative and original ideas
Finding ways to improve the quality and efficiency of work
Managing
Others
Anticipating problems and outcomes before they happen
Gathering and analyzing information relevant to a problem
Assessing the value, importance, or quality of an idea
Meet Maia
Screen-in people that are often overlooked into roles where they will thrive
Critical
Essential
Important
Helpful
Product Manager
Match Score: 94
Execution
Innovation
Adaptation
Teamwork
Useful
Managing Others
Managing Others
Communication
Decision Making
Conflict Resolution
Persuasion
Critical
Essential
Important
Helpful
Useful
Director of Underwriting
Match Score: 63
Maia
Drives
Drains
Universal Talent dataset supporting the entire Employee Lifecycle
Talent Acquisition
Learning and Development
Team Optimization
Internal Mobility
Leadership Potential Onboarding
Plum Confidential
Identify where your people will thrive
Managerial Track
Expert Track
Plum Confidential
Leadership Potential Defined
The potential to emerge as a leader and be effective
in leadership roles at higher levels in the hierarchy
Plum Confidential
Why measure Leadership Potential
Assessing potential is about increasing the
probability that you will see a good return on your
investment in people
Plum Confidential
Organizations with strong
leaders are
2.3x
more likely to financially
outperform peers
$166B annual
spend on leadership
development in the USA
Biggest problem is
42%
of Potential Leaders are
misidentified
Impact of Leadership Potential
Plum Confidential
Add objective data to your Talent Review
Subjective Data
Observed Behaviour…“has potential”
• If someone is an excellent individual
contributor, they are more likely to be identified
as "has potential" regardless of their
leadership capabilities
• 88% of DEI Leaders perceive bias in
their promotions or succession processes
Objective Data
Leadership Potential Dimensions…
• Proven science identifying the foundational
dimension that exist in successful leaders
• Increase diversity in your leadership pipeline
by screening in people that are overlooked
Plum Confidential 3
By 2030
workforce millennials
70%
Plum Confidential
1 2 3
Great land
Do your people have the potential to be
great leaders? This means high learning
agility and a mix of certain personality
behaviors to build upon.
Building
Great leaders build the skills and knowledge
required to accomplish the company’s
goals.
Leaders need to keep their skills and
knowledge up-to-date to meet ever-
changing challenges.
Updating
Great Leaders and Building a House
…they’re surprisingly similar
Plum Confidential
Leadership Potential
• Objectively identify and start developing
future leaders sooner
• Our Leadership Potential Model is based on
6 foundational dimensions
• Positive employee experience
• Strip away bias and build a more diverse
leadership pipeline
Overall Leadership Potential
Learning Agility
Drive
Self-Confidence
Composure
Empowerment
Presence
The Scotiabank Challenge
1. Optimize their hiring process
2. Hire individuals for their potential
3. Improve their candidate experience
40
Creating unprecedented ROI for
182%
ROI
2X
Retention
60%
Hiring of
visible minorities
The Whirlpool Challenge
1. Better predict performance to improve quality of hire
2. Create better end-user experiences for candidates and recruiters
43
0
10
20
30
40
50
Expectancy of Performance Based on Plum Match Score
Lower Performance Potential (No Offer) Higher Performance Potential (LDP Offer)
High Match Scores
Low Match Scores
Higher Plum Match Score = Higher Performance
44
The Sitel Challenge (TM)
1. Have a fair and objective process to assess talent
2. Support employee development
3. Enable internal mobility
45
Commitment to their employees
Facilitating internal
mobility
Employee development across
countries
26 100%
NPS
Providing a scalable solution for psychometric data
Consulting Technology
Resume
Keyword
Match
Psychometric
Data
Scalable
Predictive
140 hrs per role
Nonpredictive
8 mins per role
4x more predictive
The results Plum delivers
Quality of Hire
93%
Of managers would hire their
Plum recommended matches again
Retention
77%
Increase in ability to retain
talent
Efficiency
80%
Less time reading resumes
88%
Less time interviewing
Diversity
78% Increase in hiring of
underrepresented minorities
Candidate Experience
94% Of people found their Plum Profile
to be valuable
Plum Confidential
Benefits of objective
psychometric data
throughout the entire
employee lifecycle
Quantify Job Fit
Match the right people to
the right roles
Identify Potential
Objectivelyidentifyandstart
developingfutureleaderssooner
Grow Your People
Empower them with
personalized career insights
Work Better Together
Equip leaders with insights
to build high-performing
teams
Create your own Plum Profile
and personalized Talent Guide
https://use.plum.io/profile-hrtoday
/in/dwyertara
@HRPosts
humanresourcestoday.com
Q&A
Caitlin MacGregor Tara Dwyer
Webinar Coordinator, Human Resources Today
/in/caitlinmacgregor/
plum.io
@caitmacgrego
r
CEO & Co-Founder,
Plum

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Two Sides of the Same Coin: Recruiting and Retention

  • 1. Two Sides of the Same Coin: Recruiting & Retention Tara Dwyer Webinar Coordinator Human Resources Today Caitlin MacGregor CEO & Co-Founder, Plum March 21st, 2023 9:30 am PDT, 12:30 pm EDT, 4:30 pm BST With
  • 2. Lever is a leading Talent Acquisition Suite that makes it easy for talent teams to reach their hiring goals and to connect companies with top talent. Lever is the only platform that provides all talent acquisition leaders with complete ATS and robust CRM capabilities in one product, LeverTRM. The LeverTRM features allow leaders to scale and grow their people pipeline, build authentic and long-lasting relationships, and source the right people to hire. Lever Analytics provides customized reports with data visualization, offers completed, interview feedback, and more, to inform strategic decisions between hiring managers and executives alike. Our platform also enables companies to hire with inclusivity in mind, helping eliminate any hiring bias. Lever supports the hiring needs of over 5,000 companies around the globe including the teams at Netflix, Spotify, Atlassian, KPMG, and Nielsen. Lever is now a subsidiary of Employ, offering the industry’s most comprehensive talent acquisition portfolio. Learn more at www.lever.co
  • 3. TO USE YOUR TELEPHONE: You must select "Use Telephone" after joining and call in using the numbers below. United States: +1 (562) 247-8422 Access Code: 782-614-788 Audio PIN: Shown after joining the webinar TO USE YOUR COMPUTER'S AUDIO: When the webinar begins, you will be connected to audio using your computer's microphone and speakers (VoIP). A headset is recommended. Click on the Questions panel to interact with the presenters
  • 4. Caitlin MacGregor CEO & Co-Founder, Plum Two Sides of the Same Coin: Recruiting & Retention
  • 5. When People Flourish, Business Thrives.
  • 6. “We are accelerating toward the new world of work.” ⁃ George LaRocque, Founder, WorkTech
  • 7. Let's Take a Moment
  • 8. Think about a time when… You were your happiest at work a) What made you excited to jump out of bed in the morning? b) What were you doing that filled your proverbial cup?
  • 9. Now, think about a time when… You were unhappy, unmotivated, or burnout at work a) What were the activities you were doing that drained your bucket? b) What did you feel was taxing and took forever to do?
  • 10. Thinking about our drivers and drainers Drivers Drainers
  • 11.
  • 12.
  • 14. The new criteria for accepting job offers 14 64% 61% 58% A significant increase in income or benefits Greater work-life balance and personal wellbeing The ability to do what they do best
  • 15. “Companies must tailor their workforce strategy to the unique needs of their workers.” ⁃ PricewaterhouseCoopers
  • 16.
  • 17. Being Happy at Work Matters 17 4X 2X 21% Happy employees stay in their jobs four times longer than unhappy employees Happy employees commit twice as much time to their tasks Companies with a highly engaged workforce have 21% higher profitability [iOpener Institute for People and Performance LTD] [iOpener Institute for People and Performance LTD] [Gallup]
  • 18. The Cost of Missing the Mark 18 $11B $550B 47% Amount of US companies spend annually on employee turnover Amount US employers lose annually due to a lack of engagement with the job Of HR Chiefs cite employee retention and turnover as their top workforce-management challenge [Gallup] [Hubspot] [SHRM]
  • 19. Leaky Bucket Problems 11M Unfilled jobs in the US $11B Companies spend annually on turnover
  • 20. Solution to the Leaky Bucket Screen people IN - AND – Increase retention
  • 21. The way we used to match Resume parsing (keywords) doesn’t work in our post-pandemic world
  • 22. Psychometric data is 4X more predictive of performance than a Resume General Guidelines for Interpreting Validity Coefficients Department of Labor - US (1999) Age Education Experience References Unstructured Interview Innate Talents Structured Interview Job Tryout 0 0.13 0.25 0.38 0.5 Unlikely to be Useful Situational Likely to be Useful Very Beneficial
  • 23. $300,000 A poor hiring decision can cost
  • 25. I/O Psychology understands: 1. The Human behind the work — What drives & drains someone 2. The behavioral needs of every job (KBIs) 3. The alignment between the person and the job, predicting where someone has the greatest potential to succeed and thrive if given the opportunity
  • 26. Adaptation Communication Decision Making Embracing Diversity Managing Others Innovation Conflict Resolution Execution Persuasion Teamwork Universal Talent Model for measuring human potential and job needs 26 Quantify innate Talents
  • 27. Talent Competencies Description Behaviors Focusing on quality of output Meeting expectations by being thorough, organized, and detail-oriented, and accepting responsibility for mistakes. • Demonstrating thoroughness and attention to detail • Always trying to do the best possible work • Learning what is important to produce quality work • Completing work in a timely manner without making errors • Accepting responsibility for mistakes Monitoring progress Monitoring performance and comparing performance to standards to ensure high expectations are met. • Doing the best possible work to achieve challenging goals • Improving performance by analyzing prior mistakes or problems • Monitoring activities and overseeing resources • Learning what is important to produce quality work and avoid costly mistakes Setting challenging goals Setting goals that are measurable, time-based, challenging, and both short- and long-term focused. • Developing specific goals to prioritize and organize work • Skillfully tackling challenging problems • Establishing short- and long-term goals • Remaining calm and level-headed when faced with multiple or conflicting goals Execution Setting goals, monitoring progress, and taking the initiative to improve your work
  • 28. Match People to Roles in 3 Easy Steps 28 1. Candidate/Employee Assessment 2. Employer Match Criteria Survey 3. Match Score One-time 20-25 min assessment 8 min Job Analysis Match people to roles
  • 29. Drives Drains Teamwork Adaptation Execution Innovation Formulating plans to implementation Generating new ideas Identifying impact of possible solutions Anticipating problems and choosing solutions that avoid them Seeking out new ideas and critically evaluating them Establishing objectives and specifying the strategies and actions to achieve them Finding and generating valuable solutions Using unconventional approaches to solve problems Suggesting creative and original ideas Finding ways to improve the quality and efficiency of work Managing Others Anticipating problems and outcomes before they happen Gathering and analyzing information relevant to a problem Assessing the value, importance, or quality of an idea Meet Maia
  • 30. Screen-in people that are often overlooked into roles where they will thrive Critical Essential Important Helpful Product Manager Match Score: 94 Execution Innovation Adaptation Teamwork Useful Managing Others Managing Others Communication Decision Making Conflict Resolution Persuasion Critical Essential Important Helpful Useful Director of Underwriting Match Score: 63 Maia Drives Drains
  • 31. Universal Talent dataset supporting the entire Employee Lifecycle Talent Acquisition Learning and Development Team Optimization Internal Mobility Leadership Potential Onboarding
  • 32. Plum Confidential Identify where your people will thrive Managerial Track Expert Track
  • 33. Plum Confidential Leadership Potential Defined The potential to emerge as a leader and be effective in leadership roles at higher levels in the hierarchy
  • 34. Plum Confidential Why measure Leadership Potential Assessing potential is about increasing the probability that you will see a good return on your investment in people
  • 35. Plum Confidential Organizations with strong leaders are 2.3x more likely to financially outperform peers $166B annual spend on leadership development in the USA Biggest problem is 42% of Potential Leaders are misidentified Impact of Leadership Potential
  • 36. Plum Confidential Add objective data to your Talent Review Subjective Data Observed Behaviour…“has potential” • If someone is an excellent individual contributor, they are more likely to be identified as "has potential" regardless of their leadership capabilities • 88% of DEI Leaders perceive bias in their promotions or succession processes Objective Data Leadership Potential Dimensions… • Proven science identifying the foundational dimension that exist in successful leaders • Increase diversity in your leadership pipeline by screening in people that are overlooked
  • 37. Plum Confidential 3 By 2030 workforce millennials 70%
  • 38. Plum Confidential 1 2 3 Great land Do your people have the potential to be great leaders? This means high learning agility and a mix of certain personality behaviors to build upon. Building Great leaders build the skills and knowledge required to accomplish the company’s goals. Leaders need to keep their skills and knowledge up-to-date to meet ever- changing challenges. Updating Great Leaders and Building a House …they’re surprisingly similar
  • 39. Plum Confidential Leadership Potential • Objectively identify and start developing future leaders sooner • Our Leadership Potential Model is based on 6 foundational dimensions • Positive employee experience • Strip away bias and build a more diverse leadership pipeline Overall Leadership Potential Learning Agility Drive Self-Confidence Composure Empowerment Presence
  • 40. The Scotiabank Challenge 1. Optimize their hiring process 2. Hire individuals for their potential 3. Improve their candidate experience 40
  • 41.
  • 42. Creating unprecedented ROI for 182% ROI 2X Retention 60% Hiring of visible minorities
  • 43. The Whirlpool Challenge 1. Better predict performance to improve quality of hire 2. Create better end-user experiences for candidates and recruiters 43
  • 44. 0 10 20 30 40 50 Expectancy of Performance Based on Plum Match Score Lower Performance Potential (No Offer) Higher Performance Potential (LDP Offer) High Match Scores Low Match Scores Higher Plum Match Score = Higher Performance 44
  • 45. The Sitel Challenge (TM) 1. Have a fair and objective process to assess talent 2. Support employee development 3. Enable internal mobility 45
  • 46. Commitment to their employees Facilitating internal mobility Employee development across countries 26 100% NPS
  • 47. Providing a scalable solution for psychometric data Consulting Technology Resume Keyword Match Psychometric Data Scalable Predictive 140 hrs per role Nonpredictive 8 mins per role 4x more predictive
  • 48. The results Plum delivers Quality of Hire 93% Of managers would hire their Plum recommended matches again Retention 77% Increase in ability to retain talent Efficiency 80% Less time reading resumes 88% Less time interviewing Diversity 78% Increase in hiring of underrepresented minorities Candidate Experience 94% Of people found their Plum Profile to be valuable
  • 49. Plum Confidential Benefits of objective psychometric data throughout the entire employee lifecycle Quantify Job Fit Match the right people to the right roles Identify Potential Objectivelyidentifyandstart developingfutureleaderssooner Grow Your People Empower them with personalized career insights Work Better Together Equip leaders with insights to build high-performing teams
  • 50. Create your own Plum Profile and personalized Talent Guide https://use.plum.io/profile-hrtoday
  • 51. /in/dwyertara @HRPosts humanresourcestoday.com Q&A Caitlin MacGregor Tara Dwyer Webinar Coordinator, Human Resources Today /in/caitlinmacgregor/ plum.io @caitmacgrego r CEO & Co-Founder, Plum

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