business impact study - bpo executive series june 2010
DESCRIPTION
How one of the largest BPO companies successfully hired 7000+ front-line executives using a combination of technology and award-winning predictive assessment toolsTRANSCRIPT
HOW A LEADING BPO IS LEVERAGING ASSESSMENT TOOLS & TECHNOLOGY TO MAKE EFFECTIVE
HIRING DECISIONS
GLOBAL TALENT METRICS
Business Impact Study
Solution
1. Improved sourcing technology - Reduced dependancy on Channel Partners2. Re ordering assessment tools reduced cost per assessment3. Introduced Predictive Attrition tool - Reduced offer drops and early attrition by 50%4. Reduction in direct and indirect cost - 50% reduction in internal staff5. Significantly enhance predictability and control of talent Supply chain
By deploying a combination of sourcing technology and predictive assessment tools from the award winning STAR™ (System for Talent Attraction and Retention ) platform, the organization successfully hired +7000 front line employees in the last 12 months and reduced its dependence on channel partners as low as 25%. How did we help?
The Challenge
As the largest front line hiring organization the company was incurring significant hiring costs due to a high dependence on channel partners for 60% of its hiring needs. The costs incurred additionally as a result of employee turnover only resulted in significant underperformance from the HR organization.
Email to for other client business impact [email protected]
Improved Sourcing through Technology Attrition Prediction Tool - Reduced offer drops and early attrition by 50%
“Are your talent acquisition processes working? Are they effective?
BPO is no longer an optional strategy but it is a strategic necessity globally. BPO and IT continue to find favour with organizations looking to slash costs and raise productivity. Low labour costs, a huge pool of skilled manpower, and abundant natural resources make India a highly competitive manufacturing base for global exports in addition to catering to the vast domestic market.
The industry is surging ahead under this confidence and coping with the process of hiring large numbers. For such high performing organizations, attracting, hiring and retaining the right talent is a decisive function altogether. Finding the right kind of employee is quite a challenge and tougher still is the task of keeping the hiring cost low.
The high hiring cost has been largely caused by the high rate of employee turnover. Typically, top BPO companies spend a significant amount of money to hire droves of people. The average per person hiring cost being in the Rs 10,000-Rs 12,000 range, the top 10 BPO players alone spend a massive Rs 50 crore to Rs 60 crore every year on hiring.
How Effective Are Your Company's
Strategic Talent Acquisition Initiatives?
The time has come for HR professionals to move from talking about the need to become strategic business partners to delivering by designing and executing talent initiatives that are strategic in nature. CEOs have come to realize that they need to get their talent management initiatives right; to execute their strategic objectives. But what does getting it ‘right’ mean when it comes to a company's talent management initiatives?
Global Talent Metrics is a human resource information services company, dedicated to helping organizations and individuals make better hiring decisions with greater confidence and control.
Our vision is for Global Talent Metrics' psychometrics, HR analytics and technology to become a necessary part of every organization's hiring decisions. We are committed to developing the highest quality, scientific and powerful tools for the Indian market by combining 30 years of proven science and experience with the most demanding customers, with India centric research and data.
Our product line – STAR™ is based on 30 years of scientific heritage. We believe hiring is not perfect, but is a science, and we can help employers significantly reduce the cost of wrong hires, promotions and selections.
Global Talent Metrics
For more information on STAR™, India's pioneering Hiring Risk Management System from Global Talent Metrics
write to : [email protected] www.stargtm.com
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Winner of the 2010 RASBIC Award for the "Best Recruiting Evaluation Technique"