Campus Recruiting Case Study: Strategic Innovations to Reduce Costs and Enhance Efficiency
The Situation
The Solution
The Impact
The Situation
At the outset of our engagement, the company was grappling with several pressing challenges in its hiring processes that were impacting its operational efficiency and financial health. The cost-per-employee was on the rise, adversely affecting profit margins. This issue was compounded by high attrition rates among mid-career employees, who were overwhelmed with low-value tasks that offered little in terms of career advancement or satisfaction.
Additionally, the company was incurring steep costs in agency fees, which had escalated to over $20 million annually, indicating a significant reliance on external agencies for talent acquisition. This not only highlighted inefficiencies in resource utilization but also suggested a deeper issue with the existing recruitment strategy.
These challenges painted a clear picture: the company needed a strategic overhaul of its talent management and acquisition processes to not only improve operational effectiveness but also to reduce overall cost of talent.
The Solution
Process Optimization
Developed Key Performance Indicators (KPIs) for each part of the campus recruiting process and documented standard operating procedures to streamline training and recruitment.
Workforce Planning and Strategic Hiring
Examined business areas to create entry-level roles, which helped redistribute workloads and facilitated the hiring of junior talent to provide leverage for mid-career employees.
Introduced a model to forecast junior hiring needs, which assisted hiring managers in maintaining optimal team compositions.
Capacity Building through Upskilling
Upskilled campus recruiters to handle early career and experienced hire requisitions, enhancing their capability to fill a broader range of positions.
The Impact
$15,000,000 Annual Savings
Reduced Headhunter Fees
Cut annual costs related to headhunters by $15 million over three years, indicating a substantial improvement in direct hiring capabilities.
$2,000,000 Reduction in Cost-of-talent
Optimized People Costs
Achieved a reduction in annual people costs by $2 million by rightsizing campus hiring, ensuring that hires were aligned with actual business needs.
Enhanced Retention of Top-Performers
With early career talent to manage lower-value and time consuming tasks, top performers expressed increased job satisfaction and productivity.