Published April 9, 2021 by Scott Hirsch
Interviewing 50% fewer people saving hours of management time
2 months of time saved hiring. Hired a key manager in less than 7 days
$430,000 in projected savings in the first year vs. a traditional recruitment agency
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The average time to hire an IT resource for this services provider was 2 months - if everything went well. That means the team writes a job description, posts that job description to multiple job boards, reviews all submissions after a two week period, and finds the right candidate on their first attempt. the right candidate on their first attempt. We both know that this just isn’t possible.
This is common for recruitment processes - a need is identified, a job description is created, it is then posted for a couple weeks, submissions are reviewed, a shortlist is created, and interviews take place. Then, hopefully, an offer is made and accepted by a qualified candidate.
TalentMarketplace built its platform and processes to enable hiring managers to skip several of those steps, enabling hiring managers like the CTO of this large services provider to skip straight to the shortlist.
Our client was presented with a pre-interviewed pool of qualified candidates immediately upon needing qualified candidates immediately upon needing to fill this role (as part of their subscription with TalentMarketplace). Instead of the 8 weeks it took to hire a technical candidate, they found their perfect Project Manager and had an offer confirmed within 1 week.
This experience resulted in this large services provider onboardingTalentMarketplace to its member organizations to support a total of 40 hires in 2020 to 2021. The projected savings compared to a traditional agency is over $430,000, in addition to a huge improvement in time to hire, and effort spent on hiring. In short, our client is able to focus on delivery rather than recruiting, ultimately improving their IT initiatives.
Here's what their CTO had to say:
Hiring through TalentMarketplace (TMP) has significantly reduced my time to hire. Realizing there is almost no wait time on their side, working with TMP has disrupted my recruiting process and enabled me to streamline it. In my first experience with TMP, I moved from an initial review of 2 candidates candidates to 1 hire within 1 week.