Download Finding Talent: New Initiatives for Sourcing, Vetting

Tyco Healthcare
Finding Talent: New Initiatives for Sourcing,
Vetting and Hiring Employees
Ari Gordon
Corporate Recruiter
Tyco Healthcare
Tyco Healthcare
Fast Facts about Tyco Healthcare
Who we are…
• A large global healthcare company committed to sustaining strong
margins and cash flows while making investments for growth
• One of the largest medical device and disposables companies in the
world at $9.1 billion with industry leading profitability margins
• 40,000 employees in nearly every country worldwide with an
expanding presence in emerging markets around the world including
India and China.
• R&D funding was increased by nearly 40% in 2004 and this
investment should double over the next few years
• Over 80% of total sales derive from products in either in a # 1 or # 2
position in their respective categories.
Tyco Healthcare
What we make…
• A vital provider of products including advanced surgical tools and
supplies, sutures and wound care, needles and syringes, contrast
media for diagnostic imaging vascular therapy, respiratory care and
generic pharmaceuticals.
• Key Brands: Kendall, Auto Suture, Syneture, Valleylab, Radionics,
Mallinckrodt, Nellcor, Puritan Bennett.
• Medical, surgical, electrosurgical, respiratory therapy and imaging
products are supplied to some or all of the following:
acute care facilities - nursing homes - rehab centers
ambulatory surgery centers - physician offices
• Retail/Private label products featuring incontinence and feminine
hygiene are sold to the largest retail chains and mass
merchandisers operating in the U.S.
• High quality products with instant recognizable name that provide
the basis for improved patient outcomes
Tyco Healthcare
What we excel at…
• Market leadership in key product areas provides a platform for new
technologies and products.
• State-of-the-art manufacturing capabilities and highly trained sales
force delivering first class products worldwide.
• Six Sigma – 110 active teams with over 2400 trained employees
who delivered over $272 million in operating income benefit – net of
incremental investment. In working capital, this 8 day improvement
had a $900 million impact and could exceed $3 billion by 2006
• A recent integration process in every aspect of the business resulted
in $151 million in operational excellence savings.
• It is more than just about cost cutting – it’s about implementing high
quality, thoughtful products that result in better healthcare products and healthier lives.
Tyco Healthcare
The Benefits of Separation
•
Each entity will set their own strategy
for:
Electronics
– Acquisitions
– Alliances
TFS/TEPS
– Resource allocation
– Research & development spending
•
Healthcare
Strategic and day-to-day business
decisions will be based on specific
industry dynamics
Greater Potential for Long-Term Value as
Three Independent Companies
Tyco Healthcare
•
One of the largest diversified healthcare
companies
•
Strong operations and cost management
capabilities have produced industry leading
margins
•
As an independent company, better able to:
– Attract top healthcare talent
– Negotiate licensing deals
– Compete for strategic acquisitions
Great Long-Term Value Potential as an
Independent Company
Tyco Healthcare
Sourcing Candidates
• Staffing Plan
– Newly Created Functions 200 – 300 new positions
– Understand what we have, what we need to have
• Recruitment Strategy
– Internal candidates; growth from within
– Normal postings via ATS
– College interns/Co-Ops
Tyco Healthcare
Sourcing Candidates
• Internet Resources currently used:
• Applicant Tracking Systems; main job boards
• Niche Web Sites, Associations
• Internet Resources being explored:
• Adwords via Google, search engines
• Web Logs
Tyco Healthcare
Sourcing Candidates
• Agencies:
– Contingency/Retained:
•
•
•
•
•
Leverage company size
One central database, able to better partner
Centralized point of contact
Job Bundling
Executive search
– Research Firms:
• Name Generation
• Candidate pipeline
• Diversity Recruitment:
•
•
•
•
•
National Society of Hispanic MBA Conference
National Black MBA Conference
BostonWorks Diversity Career Fair
Women for Hire
InRoads: Diversity Intern program
Tyco Healthcare
US Exempt & Salaried Non-Exempt Hires by Source for 2005
Other 5%
Temp to Full Time 4%
Agency 7%
Employee Referral 20%
Internet-Other 12%
Monster 10%
ATS 12%
Internal 30%
Temp to Full Time
Employee Referral
ATS
Internal
Monster
Internet-Other
Agency
Other
Tyco Healthcare
Three Year Comparison – Hiring Percentages
Mansfield Location
2004
2005
2006
Promotions/Transfer
s
Employee Referrals
39%
36%
42%
20%
20%
16%
Applicant Tracking
Systems/Monster
Agency Usage
18%
23%
25%
15%
10%
8%
Contract Conversion
5%
9%
9%
Tyco Healthcare
Vetting Candidates
• Behavioral Interviewing
– Provide training for hiring managers and interview team
– Interview guide creation via usage of Lominger Competency
Model Tool with hiring manager
– Results of Interviews intended to provide:
• Objective view of all involved on the interview team
• Justifiable reasoning of why the candidate was the best fit
among all candidates
– Maximize each hire
Tyco Healthcare
Tyco Healthcare
Tyco Healthcare
Tyco Healthcare
Tyco Healthcare
Tyco Healthcare
Hiring Candidates
• Key Aspects
– Are we competitive in the market?
– Have we effectively portrayed the company culture?
– Have we communicated our values?
• Metrics
– Quality of the hire
– Turnover Rate
– Diversity
Tyco Healthcare
Hiring Candidates - Metrics
2005 New Hire Performance Ratings
Salaried Exempt & Non-Exempt
Behaviors
Performance
0.1%
5.7%
4.5%
1.4%
32.9%
5.1%
0.6%
1.0%
0.1%
908 out of 1,768 hires eligible for the review
process.
Tyco Healthcare
Questions?