No one loves a success story as much as the organization itself, having spent so many years in finally becoming an enterprise of repute. But all such triumphs come with their own share of challenges and impediments, as can be seen in the case of one of our major clients.
Case Study: Conglomerate in the Aerospace, Engineering & Commercial Products sector
Our customer is one of the biggest players in the Aerospace, Engineering and Commercial products industry. While the company has been charting significant growth year on year, the numbers showed that there was a very tangible problem in the way talent was recruited and managed, which led to diminished overall profits.
We at PeopleStrong worked with them to get under the skin of the situation and identified that the biggest problem was the total hiring experience for a new hire; because there was no structure in the talent management system, open positions took a long time to fill, candidate experience was extremely inefficient, and therefore the quality of people hired was severely compromised.
As part of a comprehensive overhaul, PeopleStrong put in a place a robust Recruiting Solutions, which followed a 4-part strategy plan:
- Talent Advisory: We armed the hiring team with sectoral intelligence on possible talent pools, and generated skill demographics and talent reports to further fine-tune the search for the best candidates.
- Employer Branding: We created an awareness in the HR and Marketing teams on how Employer branding can utilize social media to tap talent markets and how it can have a positive sway on attracting and retaining talent or in generating a higher candidate satisfaction with the company’s hiring process.
- Recruitment and Transformation: PeopleStrong suggested that using digital recruiting solutions to match with potential employees would be a much faster and a cost-effective way to acquire quality talent.
- Data as a Service: We instituted this strategy to enable decision makers to have insights based on 24/7 access to data and reports so that they are able to take data-backed decisions instantly.
Not only did this implementation show a 16% improvement in candidate experience and a significant increase in the quality of hire, but it also resulted in a whopping Rs 7.5 crore of cost savings through smart RPO solutions. Overall, the Recruitment Process Outsourcing generated a remarkable 30% faster available talent, triggering substantial revenue gains.