The Lloyds Banking Group relied on third-party recruitment agencies. Selection was inefficient, assessment dropout was high and attrition was a problem. Many new joiners didn’t even complete the induction and training period. Suffice to say, they needed to rethink.
We devised a flexible resourcing model that would adapt to peaks and troughs in demand. And it worked because it was built on business intelligence. We went to great lengths to engage with senior stakeholders to get to grips with the business. By engaging with the people closest to them, we were able to pinpoint the critical business drivers – and create service enhancements to match.
‘We helped bring down the whole-life recruitment cost by 58%.’
Conversion at selection events shot up from an average of 30% to more than 50%. We were able to use 40% fewer assessment centres, driving down direct recruitment costs by 12%. First-year attrition has been cut to close to 20%. And we’re proud to say that we helped to bring down whole life recruitment cost by 58%.
Big picture, we’ve been working with Lloyds Banking Group for more than 20 years. And in this time our role has evolved from transactional supplier to partner. Initially providing overflow candidate management, we now provide end-to-end volume resourcing for more than 3,000 hires each year.