LV= cuts costs and banks top talent with new recruitment system

Insurance, investments and pensions group LV= has upgraded its online recruitment system to include an integrated candidate screening solution. This is powered by NorthgateArinso PeopleChecking and linked to StepStone’s Applicant Tracking system. The solution enables LV= to recruit the best talent, ensure only the most suitable applicants reach interview stage, as well as make significant cost and headcount savings.

David Smith, Group HR Director, LV= says: “Implementing the NorthgateArinso PeopleChecking system has enabled us to reduce the size of the team who deal with this by 75% whilst also significantly reducing our time to fill ratio.  It has also helped us to remain compliant with FSA regulations and employment legislation.

“Recruiting people with the right skills and experience is a must if we are to succeed as a business. We recognise the importance of the referencing process given we work in a regulated industry and therefore having a robust streamlined process in place is essential. We receive around 20,000 applications a year and only 3% of them will take up one of the 600 roles we recruit annually, and therefore ensuring we recruit the right people with the LV= attitude who will put our customers first whilst delivering the best value to our members is an essential pre requisite of a role within LV=.”

Continually enhancing the way it interacts with its applicants is a priority for LV=. Like many consumer brands it regards every applicant as both a potential employee and customer.  NorthgateArinso PeopleChecking and StepStone together to provide a seamless recruitment process that improves the candidate experience, reduces the time to hire and can enable businesses to make significant cost savings.

David Smith adds: “The time between making the decision to hire a candidate and his or her start date has shortened, which not only helps recruiting managers and their teams but also improves the candidate experience.”

Tim Rooney, Director at NorthgateArinso PeopleChecking says: “Joined-up recruitment and screening is now a reality. By implementing a pre-defined vetting process LV=, and other companies, can offer candidates a seamless recruitment experience.”

Matthew Parker, Group Managing Director of StepStone Solutions says: “With competition for the really talented candidates still fierce in many industries, businesses need to become much smarter with their recruitment and keep focused on hiring costs. Our solution has enabled LV= to implement a smooth recruitment strategy, and the interfaced candidate screening element now eliminates the time wasted while background checks are being completed, meaning hiring decisions can be made in a tighter timeframe.”

LV= expects to use the process for its 1,500 – 2,000 recruits every year, who work across the country in a wide range of roles. The next stage for LV= will be to implement the StepStone and PeopleChecking solutions for regulated roles.


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