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Personnel Today

Insurance giant creates a talent pool

by Personnel Today 22 Oct 2002
by Personnel Today 22 Oct 2002

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

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–
40 per cent reduction in print advertising

Source:
Prudential Financial

Personnel Today

Personnel Today articles are written by an expert team of award-winning journalists who have been covering HR and L&D for many years. Some of our content is attributed to "Personnel Today" for a number of reasons, including: when numerous authors are associated with writing or editing a piece; or when the author is unknown (particularly for older articles).

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