US insurance giant Prudential Financial is filling vacant positions more quickly and has saved more than $2m since moving its recruitment process online 18 months ago.
Michael Lowe, vice-president of staffing, explained how the company has benefited since switching from a reactive manual recruiting strategy to a proactive, results-based system on the Prudential corporate website.
A careers area, accessed via the home page, was designed to capture both active and passive job-seeking candidates and build a high-quality talent pool in advance of hiring demand.
The technology enables Prudential to continuously source talent and automate the whole process from building a community of candidates to identifying job requirements, screening assessment, then interviewing and hiring.
The site attracts around 40,000 visitors a month, with a capture rate of 19 per cent. Two in 10 visitors leave a personal profile helping the company - which recruits 3,500 people a year - build up a talent pool.
Benefits of online recruiting
- Hard savings of over $2m
- Soft savings (productivity gains) of almost $4m
- Established 188,000 recruiting relationships in talent pool within months
- Reduced time to fill from 50 to 40 days
- 35 per cent reduction in dependence on recruitment agency
- 40 per cent reduction in print advertising
Source: Prudential Financial