Global Financial Institution Gets New Metrics and Streamlined Process
As one of the world’s largest investment managers, this financial institution covers all the major equity, bond and currency markets across the globe. They strive to minimize guesswork in the investment process, but that doesn’t mean they have eliminated the human factor. Far from it. They emphasize that their most valuable asset is their people.
Operating in an increasingly competitive recruitment market driven by buoyant economic conditions, the company needed a solution that would increase its capability to attract the best talent in the market, while retaining their existing high performers. As a clear leader in their field, they are under constant attack from direct competitors for their people.
On recommendation from their parent company in the UK, they went to market for an outsourced recruitment model that would deliver greater efficiencies around the recruitment process as well as visibility and control around key recruitment metrics such as time to fill, cost to fill and sustaining quality of hire.
Hudson RPO Solution
The Hudson RPO team devised a solution that provided an on-site managed vendor team with responsibility for streamlining the company’s recruiting process. We also helped to build a centralized recruitment function supported by a single 3-Recruitment system, and we manage valued agency partner relationships for our client.
After an initial period of change management through the implementation process, the outsourced team has worked to establish a centralized, streamlined recruitment function working closely with hiring managers. Results include:
- Average time to fill reduced from 110 days to 60 days
- Backlog of 75 open job requisitions reduced to 23
- Hiring manager satisfaction dramatically improved as reflected in feedback surveys