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October 10, 2017 Previous day Next day

Kevin Eksterowicz is a Talent Acquisition Leader at Vantiv. I asked him about the new hiring approach that Vantiv rolled out this year (and that my team has used to great success). Here's what he had to say:

 

One of the most impactful exercises a company executes is its selection of new employees.  And when you’re growing as rapidly as Vantiv, the stakes are especially high.  In 2016 alone, we filled almost 1,400 jobs! 

 

However, when we scanned the organization late last year, a few things stuck out like a sore thumb:

  • Our interview and selection process lacked consistency and structure.
  • Interview training and tools were not on any of our curriculum.
  • Feedback on candidate experience was often lackluster at best.
  • Turnover within the first 12 months of hire was 23%, 75% of which took place within the first six months. 

 

We stopped in our tracks and realized that we had a huge opportunity in front of us to deliver value and impact to this growing organization.

 

After months of planning, developing and piloting, we launched Vantiv’s SELECT! program on July 31st. SELECT! is an approach to interviewing and selection that embraces a set structure and strategy for all roles in the organization, ideally with just one on-site visit limited to four interview sessions.  These sessions are tied directly to Vantiv’s leadership model and evaluate a candidate not just on experience and job titles, but through deep focus on the competencies required for success. 

 

We call these sessions our interview focus areas: 

 

  • Role Fit
  • Business Impact
  • Leadership/Self-Leadership
  • Culture & Values. 

 

Focus areas remain consistent across all levels of the organization, yet the competencies and suggested interview questions vary by level.  The outcome is a well-rounded candidate evaluation and a candidate experience that feels robust, streamlined and smooth. 

SELECT with text.png

 

Our Talent Management and Talent Acquisition teams worked hand-in-hand to develop this program complete with:

  • Interactive, online, level-based interview guides with recommended behavior-based interview questions
  • An interactive feedback mechanism to capture candidate-specific scores and notes for each focus area
  • Mandatory comprehensive eLearning courses:  one for people leaders, one for individual contributor interview panelists
  • Half-day classroom training
  • People Leader and Interviewer job aids
  • An Interview Checklist
  • Custom approaches for nuanced groups:  sales (remote), executive, front-line operations

 

Just three months in, almost every people leader (740+) and over 300 interviewers have completed the eLearning. New hire Michael Rose was one of the first candidates to go through the new hiring process. He said, "As I interviewed with potential new employers, Vantiv’s interview process stood out above the pack. Vantiv sent a clear message to me during the interview process… a well-organized and focused approach to finding the best candidate while providing an excellent candidate experience for me. The detailed/thoughtful interview process was a large factor for me choosing Vantiv!  Even the follow-up call from my new Leader after I had accepted the offer reassured me I had definitely made the right choice.”

 

Early feedback on the SELECT! process is very positive and by this time next year, we target marked improvement in early attrition, candidate experience feedback, time to fill metrics and hiring manager satisfaction feedback. Hiring Manager Shannon Reichart said of SELECT!, “this team approach has not only helped me as a hiring manager to make an informed decision regarding new hires, but I believe that it is creating a positive experience for our candidates, providing them with greater insights into Vantiv from other perspectives. Select will give us the foundation that we need as a leadership team to recruit, develop, and retain great people here at Vantiv!”

Apple will launch Face ID with their Apple X (pronounced Ten) to be released in November. Along with its many new features, it will introduce a new biometric-based technology for customers to authenticate themselves when using Apple Pay, the mobile payment and digital wallet service that lets users make payments using an eligible Apple device. With the introduction of Face ID comes the removal the home button that’s been traditionally used for Apple’s
Touch ID, the forensic fingerprinting technology to unlock the phone and process Apple Pay transactions. Apple reports the new Face ID technology creates more unpredictability than the legacy Touch ID technology, utilizing
millions of data points to recognize facial expressions and changes to hair color, grow facial hear, glasses, and outerwear using machine learning. Prior studies reported the chance a random person could use a fingerprint to unlock an iPhone is about 1 in 50, 000 whereas studies have shown the probability to unlock Face ID is closer one and a million.

 

Is Smart Tech Good Enough?

Additional compensating controls have been implemented to detect spoofing and misuse, using an alert detection to ensure the owner’s eyes are open.  To counter, equally elegant spoofing technologies will be developed and implemented, especially with the social media and facial images over the open internet could present an obstacle to prevent against attacks, such as an attacker who can use the same machine learning recognition can identify photos of your face, family or friends who have posted pictures on Facebook or Twitter.  As with any new technology
introduced into the market, its largest obstacle to success is to achieve consumer credibility. Juniper Research has released the results of a new survey that finds that over 40 percent of iOS users in the U.S. are unlikely to use Face ID as payment security technology, and would rather use voice recognition or fingerprint scanning for mobile payments authentication measures. Given Face ID’s unproven credibility in the market, its adopters will tread cautiously as stolen stored credentials, whether they are stored on the device or hosted in the cloud, has a tendency for customers to be skeptical with its use. While Apple systems have never been breached, Apple customers can be at risk of having their devices attacked if they use the same passwords across multiple sites including their iCloud password.

 

The Market Will Tell

Apple has an enormous obstacle to tackle – increasing the security of payments without scaring away customers through the unnerving process of pointing a device at their face, which could prove to be awkward in public places. Through all its initial reservations, if Face ID is proven to reduce the payment processing friction without introducing other impacts, and lives up to its value proposition to its customers that its faster and simpler, it will gain adoption in the market over prior consumer authentication measures.

 

Would you use Face ID for payments?

Would you be willing to use the new facial recognition technology for payment acceptance or would you be resistance to new and unproven technologies? Would you have privacy concerns with facial recognition due to a lack of trust with solution providers? Do you think it may take too long to authenticate a transaction or would the experience be awkward?

 

 

Let us know your thoughts in the comments!