Global Fintech achieves 35% reduction in recruitment costs using unique tailored approach

Key Achievements

Our tailored approach to recruitment and ability to think outside the box helped 4Finance save time, money and become a more attractive proposition.

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Detailed review of current processes resulted in agreements with legacy recruitment suppliers.

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Creation of an embedded account team at 4Finance HQ in Belgrade.

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Developed internal hiring skills. ‘How to hire’ training programme implemented for the 4F management team.

The Problem

1. They needed to recruit fast and fill an initial 140 positions over a 6-month period. But the local talent market was tough and attracting candidates from larger EU markets was proving difficult due to wage disparity.

2. 4Finance’s people strategy and processes were fragmented and inefficient. Dealing with multiple recruitment partners mainly on a retainer basis made it hard to track performance and delivery.

3. . Their global employer brand needed to match the company’s ambitions and be strengthened across the board to make 4Finance a more attractive proposition.

The Solution

1. Our first point of action was to source candidates from the Czech Republic, Latvia and Poland. While this met with some success we needed to try a different approach to fulfil the client’s requirement. As a solution, our World Solutions team identified a highly-qualified talent pool available within the Ukraine, Russia, Belarus and Kazakhstan.

2. We deployed one single project management director who coordinated all aspects of delivery. Meanwhile, clients were kept in the loop via a bespoke web-based dashboard and a weekly update

3. We developed a powerful global employer brand proposition. This included consistent branding/advertising across all mediums at all stages, from attraction through to interview and onboarding. To further enhance 4F’s culture, we implemented an intranet allowing employees across a range of locations to engage, communicate and collaborate simultaneously.

Reduced average permanent placement from £4,500 to £2,900.

Increased new hire retention from 80% to 93%.

Reduced time to offer from 43 days to 20 days.

From July 2015 - December 2017 we oversaw 350 permanent hires and 71 contract hires.

In the first year we delivered over £500,000 in savings.

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