Posted on 13 Apr 2015
A large employer with 35,000 employees and more than 6 million customers worldwide is the leading Australian financial services institution with global banking operations. For each open position, the financial institution receives approximately 90 job applications, which adds up to an overwhelming 9,000 job applications over a two-month period. The company wanted to ensure that each of those applicants had a positive experience throughout the hiring process. But, without a sufficient solution to achieve this objective, the financial services provider risked losing top talent from its applicant pool as well as turning off potential future customers.
The company had a number of talent acquisition challenges, including:
- Excessive time-to-fill rates due to the HR review of more than 90 job applications for every open
- Missed candidate expectations due to a poor application experience and lack of communication
during the hiring process.
- Inefficient manual procedures that slowed down the processing of more than 9,000 applications
over two months.
“PageUp helped us improve our communications with candidates during the hiring process, and also facilitated the global alignment of our recruiting processes.” Graduate Program Recruiting Professional, Large Financial Services Institution
The large financial institution needed a better method to filter the thousands of applications that arrived for every job posted so that it could more readily find the talent and skills its business required. In addition, the company was not communicating with candidates clearly or effectively during the acquisition process and, as a result, was missing opportunities to further engage with the many candidates who were not hired, some of whom were potential customers.
Due to its proven track record for delivering talent technology that connects companies with the best talent, the PageUp Recruitment Management Solution (RMS) was selected by the financial services provider. The cutting-edge, cloud-based solution was chosen for its flexible recruitment marketing and candidate communications capabilities. In addition, the financial services company chose PageUp for the comprehensive sourcing and talent pooling options the technology provides. The fluid system design also would help the financial institution ensure user adoption of consistent recruiting processes across all of its many locations.
Thanks to PageUp RMS, recruiters are now able to automatically screen candidates within the system, which helped to quickly and effectively narrow the applicant pool by nearly 22 percent, as the solution removed 2,000 unsuitable candidates who did not meet the minimum job requirements. The financial services company now delivers bulk candidate communications via SMS and email, which helps to improve the candidate experience with ongoing messaging regarding their status during the hiring process. Candidates can also use the solution directly to schedule next steps in the process, such as assessments and interview times.
In addition, the institution’s recruiters are able to source international talent with the desired skill sets for graduate roles using talent pooling available through the PageUp solution. They can also perform norming of graduate scores automatically across multiple scoring conventions for more than fifty colleges and universities in their targeted hiring region. The result is a talent acquisition solution that facilitates a fair and consistent hiring process in each location.