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HR Analytics Solution To Fast-Track Hiring Operations At A Leading Recruitment Agency

About Client

  • A leading recruitment agency that specializes in providing high-quality staffing solutions to various industries.
  • Head offices in USA and Canada.
  • Operate in a highly competitive market and seek ways to provide higher value to their clients.

Problem STATEMENT

Our client was facing several challenges in their recruitment process, including:
  • The agency was receiving a large volume of resumes but found it difficult to manage and monitor huge amounts of recruitment data.
  • Huge time consumption in talent acquisition and inability to find the right candidates at the right times. Employee turnover and attrition rates were high, and the retention rate was suffering.
  • The time it took to fill open positions was higher than industry averages, which was leading to increased costs and lost opportunities.
  • The agency traditionally relied on supposed trends and biases to make hiring decisions which led to misinformation and high chances of errors.
  • The agency was struggling to provide a positive candidate experience throughout the recruitment process, which was impacting its ability to attract top talent.

Solution

We developed an HR analytics dashboard for the recruitment agency to address each challenge.
  • We established a centralized data pipeline to streamline huge amount of recruitment data and began reporting and analyzing it in real-time.
  • Our experts analyzed the data related to hiring KPIs as shared by the concerned stakeholders with us, such as cost per hire, quality of hire, candidate experience, and application completion rate. By using this data, HR teams were able to get quality hires, and also it took lesser time to recruit a candidate.
  • The real-time reporting dashboard helped in monitoring the time it took to fill each position. It included key metrics such as average time to fill, time to fill by job type, and time to fill by department. This helped our client identify misses in the hiring process and take steps to reduce the time to fill.
  • We implemented a candidate scoring system that uses machine learning algorithms to quickly identify and screen the best candidates for each position based on specific job requirements.

Business Impact

The HR Analytics dashboard had a significant impact on the client’s recruitment process:
  • The centralized data system reduced time spent managing recruitment data by 20 hours per week, enabling quicker identification of bottlenecks, trends, and candidate status while cutting manual errors by 25%.
  • The agency cut its average time to fill by 4 days (from 36 to 32 days), saving huge numbers in recruitment costs, around 9% of their total from the previous fiscal year.
  • The candidate scoring system identified top talent 30% faster, helping fill roles 5 days sooner, reducing hiring delays, and improving project timelines.
The candidate feedback system helped the agency gain valuable market insights, which led it to attract more top talent and differentiate itself from competitors. The HR Analytics dashboard helped our client optimize their recruitment process, reduce costs, and provide a positive candidate experience. The agency was able to offer more value to its clients and establish itself as a leader in the staffing industry.

Industry

Financial Services & Banking

Services Used

Business Intelligence (BI), Data Analytics, Data Centralization, Digital Transformation

Region

North America

Function/Department

Human Resources (HR)

Engagement Model

Joint Product Development Framework

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Ankush

Business Development Head
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