Success Story: E-Trade Financial
A 60 day "Staff Up Project" completed in 30 days.
The Challenge: Hire 150 New Employees in 60 Days
E-Trade, a leader in the online investing industry faced the challenge of opening a new support center in an area with no existing corporate footprint. The goal was to hire 150 new employees in 60 days. They engaged a 3rd party BPO provider to fill the positions and get the center "staffed up".
The Solution: Convenient and Cost Effective Video Interviewing from HireVue
Traditionally, the recruiting process required the deployment of implementation teams for 6-8 weeks, a local open house operated by out of town managers, and in-person interviews. Conflicting schedules and locations of recruiters, hiring managers and candidates presented a significant logistical challenge that was compounded by the short time frame allowed to complete the project.
E-Trade had no strong mechanism in their recruiting process to manage such a large pool of qualified local and national candidates. Given the sheer volume of candidates, it was difficult to organize feedback between recruiters and hiring managers and to effectively compare candidates against each other. Standard interview questions were not always followed and important compliance information (requisite licensing) was not always captured. In many cases this resulted in lower quality interviews, poor hiring decisions and negative candidate experiences that hurt E-Trades employment brand. Metrics showed that 30-day turnover and cost to hire were extremely high.
The Solution: HireVue On-Site and Off-Site
Using HireVue On-Site and Off-Site recorded video interview services, the 3rd party BPO was able to simplify the logistical problems and costs by minimizing or eliminating first interview scheduling and travel. Candidates took interviews locally at the BPO company's office locations, at eight local college career centers, and from webcams all over the United States at times convenient to the candidate. Additionally, each candidate's interview was stored into a dynamic talent database created by HireVue and accessible by the 3rd party and the Company at times convenient to them. The database established a talent pool that could be reviewed at any time in the future as new positions became available.
The Results: "Staff Up" Project Complete in Two Weeks
The project was completed in record time and with tremendous success.
Using HireVue as a means to manage interviews and by being able to easily recall, review and compare each of the candidates the company was able to increase the effectiveness and efficiency of the hiring process.
After the initial "desperation use" the City of Roanoke, Virginia has become one of HireVue's premier municipal clients. In subsequent rounds of hiring for other positions, Roanoke has used HireVue and achieved results that include:
- Turnover Decreased – 30- and 60-Day turnover decreased by 25%.
- Cost Avoidance - By maximizing the effectiveness of the implementation team's time they were able to focus on the operational setup of the facility. The "staff up" was completed two weeks ahead of schedule and under budget.
- Future Hiring - The Company built a talent pool with candidates' interviews that they were able to review and draw on for future positions.
- Risk Mitigation – Each candidate took a standard interview designed by a company trained professional and a record was available for each interview giving an "Apples to Apples" comparison.
- Effectiveness - The Company found their hiring mangers and candidates were more invested in the hiring process and thus more involved. The information that was collected in HireVue included detailed written responses, evaluations and ratings by hiring managers who were able to physically evaluate interviews from many various Company locations wherever the hiring manager happened to be.
