Search Results - hesitate

Comment on: Blog Post 'Social Media Strategy: Let's Stop Talking ROI Already': It's the laughing stock metric of the Finance world. If we're going to come to the table speaking ROI, we need to be prepared to get laughed out of the room. ROI doesn't account for time and risk, so unless the Finance Execs are so misguided that they don't care about time or risk as it relates to return, we better bring out the big guns. That means EVA (i.e. account for the cost of capital as well) and NPV (discounting projected returns back to net present value). My point: If we're going to talk finance, let's not come in with the weakest calculation as if it actually means anything. 2. There is a benefit that isn't quite as easy to project in a high-probability range. In addition, it's dependent on competitive counter-moves. For example, let's say we move forward with a Social Media Recruiting Strategy to achieve parity with the competition. Where is the ROI there? On paper, it would look like little to none . . . but in actuality, this is not the case. Again, ROI fails to tell the whole story. Now let's assume that we move forward with a Social Media Recruiting Strategy and the competition lags behind. On paper, perhaps ROI looks to be nothing more than reduction in Exec Search fees, yet if we look deeper, we may see we've weakened our competitors by hindering their own ability to recruit niche pockets of top talent. Again, ROI fails to tell the whole story. Case Example: Let's say the IT Dept and Recruiting Dept each come to the table requesting $100k in revenue. For the sake of discussion, let's say the business leaders of each department only know ROI because it's the 'easiest' calculation. IT suggests an ROI of $250k to implement a new ERP, while Recruiting suggests an ROI of $200k in saved Exec Search fees. On the surface, the IT Dept would win out if all we looked at was ROI. In reality, however, the IT Dept investment may have a higher total-cost-of-ownership (training, additional customization, etc.), while the Recruiting Dept may have an indirect benefit extending beyond the initial savings in Exec Search fees. Let's say one of those key hires earns their way to the HiPo program and 5 years later, successfully leads the firm into a new sector . . . while the former ERP system now needs replacement as it falls in the 'legacy' category? If all we considered was ROI, we'd have made the wrong decision. Ultimately, I think it's a misguided decision to make decisions exactly the way that the Marketing function does, because we're talking about Talent Acquisition . . . an endeavor much farther reaching than a new-customer acquisition program, an advertising campaign, etc. While I am a fan of decision theory, I hesitate to recommend our market uses a plug-and-play approach to reviewing investments. We need to dig deeper. To conclude, I'm not saying ROI doesn't have some part in the conversation, but it's my recommendation to leave the 1st yr undergrad Finance metrics at home and come to the table with legitimacy. When you know what ROI is and means, you realize the futility of it since it only tells 1/3 of the story (i.e. the "what", ignoring time and risk). We can think deeper, meaning we need to take in the noise of the Marketing world trying to calculate ROI for their own needs . . . but keep in mind that our game isn't quite apples-to-apples.…; Added by Joshua Letourneau at 4:21pm on January 19, 2010

Blog Post: Technology and Engineering are Calling for Flexible Working

Are you responding to the demands of the market?

Flexible…

Added by ISL Recruitment at 5:37am on September 6, 2017

Blog Post: Killer Networking Will Help You To Get What You Want: It doesn't matter if you are trying to recruit a top candidate, find a job, get a signed fee agreement back from a new client or just gathering info about a fun hobby, the truth is that networking…; Added by Craig Silverman at 3:59pm on September 21, 2009

Blog Post: Want To Win The Talent War? Identify Top Talent Faster. Here’s How.

Imagine 100 stones were dropped on the ground and…

Added by Paul Petrone at 10:28am on April 28, 2014

Blog Post: 7 Best Tips to Recruiters for 2016: We are coming nearer to the closure of Year 2015, and this passing year has shown promising results when it comes to recruitment and hiring. With our constant vigilance over past 12…; Added by Mukul Agarwal at 12:52am on December 28, 2015

Blog Post: Sexual Harassment Policies: Added by Sara Gerardo at 5:16pm on March 9, 2018

Blog Post: Seeking Data Science Jobs Amid the Novel Coronavirus Pandemic

Amid financial losses due to the novel coronavirus…

Added by Lucia Adams at 7:19am on May 27, 2020

Blog Post: 14 Must-Read Recruiting Articles of 2014: A lot has happened this year in the recruiting world. Getting the right…; Added by Casey Marshall at 3:57pm on December 10, 2014

Blog Post: The Many Choices of HR: Last week, a final year MBA student wanted me to coach him, as he was keen to move into HR, in itself a little unusual career choice. In talking to his university career manager, he was an excellent…; Added by Charles Van Heerden at 12:38am on November 10, 2009