HR, a Revenue Stream? Flip your focus from cost saver to money maker [Webinar version]

Alli Baker & Fiona Anson

Workible

HR, a Revenue Stream? Flip your focus from cost saver to money maker

Directors of

Picture this

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Or this…

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Companies spend millions on customer service because customers spend money.

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So do candidates.

5 - 7x more!It costs

to get a new customer than retain an existing one.

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300,000 applicants 6,000 jobs = 294,000 unhappy people?

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Do you treat candidates like customers?

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Customers vote with their wallets... and so do candidates!

BakrAlli

Are you hiring?

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A bad Candidate Experience can turn an Advocate for your brand into an Activist against your brand.

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If candidates feel they’ve had a poor candidate experience...

Source: CareerBuilder Workible

9% would tell others not to purchase products or services from the

company

38% are less likely to use a product or

service 42% would never seek employment at the

company again

Hired or not, if workers had a positive candidate experience...

90% would encourage others to join the company in

the future

23% be more likely to

purchase products or services from the

company

Source: CareerBuilder Workible

What’s this got to do with HR?

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It’s time to pull your head out!

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And take your seat at the strategic table.

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You’re not just HR, you’re business people.

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Go beyond the administrative duties Demonstrate that you can add value Show that you can be innovative Keep your knowledge relevant Talk to others, not just HR to arm yourself with the tools to meaningfully contribute

Prove that You Deserve a Seat at the Table

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Flip your focus from cost saver to money maker

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Don’t settle for being forced into a box — you’re better than that.

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What else could you offer the hundreds, if not thousands, of

applicants that apply for your jobs every year?

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Idea 1.

Thank you for applying.

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5,000 applicants10% = 500

$30 average sale$15,000

How many applicants?

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Idea 2.

We really value you.

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250 applicants10% = 25

$50 average sale$1,250

How many unsuccessful candidates?

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Idea 3.

We love you as part of our community. Come back in.

How many Talent Community members?

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10,000 Community members10% = 1,000

$25 average sale$25,000

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Idea 4.

Invite them into your customer loyalty programme.

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How many Loyalty Club members?

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5,000 New Loyalty Club Members80% = 4,000

$40 average sale$160,000

Plus: Cost Savings

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Faster Hiring Better selection of people Hiring revenue producers Training for revenue accountability More efficient recruitment processes Increase retention

The big picture

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HR Costs Now Idea 1 Idea 2 Idea 3 Idea 4 Cost Savings

4 times a year

2 job ads a month twice a year twice a year

Income $0 $20,000 $30,000 $50,000 $320,000 ?

Expenses

Salaries $150,000 $150,000 $150,000 $150,000 $150,000 ?

Job ads $20,000 $20,000 $20,000 $20,000 $20,000 ?

Total Expenses $170,000 $170,000 $170,000 $170,000 $170,000 ?

Profit (Loss) -$170000 -$150,000 -$140,000 -$120,000 $150,000 ?

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Your value as an HR professional can skyrocket.

Q + AWorkible

1

REINVENTING RECRUITMENT

workible.com.au/saas

Alli Baker Fiona Anson

BakrAlli

FionaAnson

Talk to us about our

HR Consulting services!