Monthly Archives

April 2020

Retail

Retail Our client has been the pioneer in the international cruise retail industry with an annual revenue of $1B.

By | Case Studies, Functions, Industries, Retail | No Comments

Part of the world’s leading global luxury brand group

CEO
Retail

Company

Our client has been the pioneer in the international cruise retail industry with an annual revenue of $1B. Since 2000, they have been part of the world’s leading global luxury brand group that brings in $47B in annual revenue.

Challenges

Our client needed to expand their efforts in rapidly recruiting a large number of Sales Executives specialized in luxury goods for high-end cruise ships.

Solution

Dedicated teams of 2 recruiters that could join our clients’ existing team to extend research, recruiting efforts, and reach in a short time period.

Results

After having identified 1,100 candidates for 3 main roles, the SourceMatch contacted and vetted them, before presenting to the client 50 candidates that were qualified and met the highly specialized roles.

Industry

Retail

Function

Sales

Seniority Level

Executive, Senior

education

Education "The SourceMatch team were very professional, responsive, and I would recommend them to anyone seeking highly qualified candidates for any position."

By | Case Studies, Education, Functions, Industries | No Comments

“Before I contacted SourceMatch in May 2019, I was a new company who received a contract to find two English speaking teachers to teach English in China. In short order, I needed to recruit, screen, and select qualified candidates.
Since speaking and working with SourceMatch, within 2 months, they recruited, screened, and sent me contact information on a shortlist of candidates, of which my organization was able to select two highly qualified teachers to teach in China. They were very professional, responsive, and I would recommend them to anyone seeking highly qualified candidates for any position.”

Terrill Martin
President/CEO
Martin Global Enterprises LLC

Company

Martin Global Enterprises has more than 25 years of experience, providing global education around the world. The most important aspect to ensure learning takes place, is through effective educational experiences. Their programs are designed to provide a hands-on approach to meeting the educational needs of students, teachers, and leadership professionals at all levels.

Challenges

Martin Global Enterprises was looking to hire 2 English kindergarten teachers in China with native English speakers in the U.S and U.K that would be willing to relocate.

Solution

SourceMatch was retained to carry out an end-to-end recruiting search of senior professionals in the field across the U.S and U.K.

Results

SourceMatch successfully placed candidates on both positions well before the target date, and enabled a long-term collaboration with the client, as a trusted and exclusive recruiter.

Industry

Education

Function

Education

Seniority Level

Entry, Mid-level

Automotive

Automotive Our client is a leading global provider of outsourced business solutions for the automotive industry with annual revenues of $730M.

By | Automotive, Case Studies, Functions, Industries | No Comments

Leading global provider of outsourced business solutions

CEO
Automotive

Company

Our client is a leading global provider of outsourced business solutions for the automotive industry with annual revenues of $730M. They have the hands-on experience of automotive best practices, the state-of-the-art technology and the in-depth information to boost company efficiency and profitability.

Challenges

Our client needed to expand their efforts in recruiting a large number of employees for short-termed and long-termed contracts in the automotive industry both for clerical roles and management roles.

Solution

A dedicated team of 4 recruiters that worked in tandem with the Client’s subject matter expertise. SourceMatch was retained to research, amplify recruiting efforts, and assist with hiring in a short time period.

Results

SourceMatch succeeded in identifying a candidate pool of 5,600 candidates over 12 months of which 3,100 were interviewed, and 300 were recommended to the client for hiring.

Industry

Automotive

Function

Technical, Management

Seniority Level

Entry, Senior

Measure the Return on Investment in Recruitment

How to Measure Return on Investment in Recruitment?

By | Blog, Recruiting | No Comments

How do we measure the Return on Investment in recruitment?

“It’s important to understand what the “gain” really is and evaluate it across several quantitative and qualitative measures” – Deloitte

If you want to measure the Return on Investment in recruitment, there are a few key metrics that you should consider: time to fill, time to hire, quality of hire, cost of hire, and turnover rate.

1. Time to fill

The time to fill with the time to hire might sound the same but they are 2 different metrics and should be treated separately.
While the time to fill tells you how fast your hiring process is moving, the time to hire tells you how quickly you identify the best candidate.

How to calculate the time to fill?

The time to fill represents the total number of days you need to fill a position from creating a job opening to hiring the new employee.

2. Time to hire

Workable has come up with a formula to calculate the time to hire:

Time to hire = Day candidate accepted the offer – Day candidate entered the pipeline

Statistics say that 57% of job seekers lose interest in a job if the hiring process is lengthy. That means that you can lose great candidates if your team isn’t fast enough.

3. Quality of hire

The quality of hire measures the value that new hire brings to your organization and according to LinkedIn, 50% of companies consider performance reviews (or just performance in general) when measuring the quality of hire.

So how do we measure it?

Quality of Hire (%) = (Indicator % + Indicator %) / Number of Indicators

Example:
Quality of Hire (%) = (Job Performance + Ramp-up Time + Engagement + Cultural Fit) / 4

(Source: Harver)

4. Cost of hire

The cost of hire is not something to rely on taken alone. It doesn’t say anything about the quality of hire, only the possible cost of your recruitment efforts: advertising fees, recruiter pay, and benefits, relocation costs, recruiting agency fees, etc.

The formula for the Cost Per Hire:

CPH = (Total internal + total external recruiting costs) / total number of hires in a specific time frame

5. Turnover rate

Most companies use the annual rate calculation to find out the turnover rate, which is the following:

Annual turnover Rate % = Number of employees who left / [(Beginning + ending number of employees) / 2] x 100
Who, when, and why do they leave? – are the questions you should ask to paint a useful picture and analyze your turnover rate.

Why is it important to measure these metrics? Just answer this question: How can you improve something you cannot measure?

Reach out to us learn more.

Recruitment Process Outsourcing

Recruitment Process Outsourcing (RPO) – a Deeper Understanding

By | Blog, Recruiting | One Comment

What is Recruitment Process Outsourcing (RPO)?

Have you heard about the latest way to find the top talent for your company? Recruitment Process Outsourcing allows companies to effectively reach the top and most appropriate candidates for job openings. RPO is a form of business process outsourcing where an employer transfers all or part of its recruitment processes to an external provider. RPO, as it’s called, channels many avenues to measure and appropriately reach the right candidates. By having a set flow, or process, companies utilize the RPO approach and maximize all avenues for candidate searches and matches. RPO starts with a recruiting company, such as SourceMatch, providing a service to a client. SourceMatch then applies a step by step process for hiring and filling any workforce gaps. We start with an ATS (applicant tracking system), then reach out and advertise as needed, carefully target suitable candidates that need to be identified, then schedule interviews, assess skills and behavior matches, select the top candidates that fit the hiring needs, check background and credentials, then you hire the right candidate for your onboarding and orientation!

When does it make sense for a company to outsource their recruitment? What are the advantages of RPO?

It makes sense for a company to utilize Recruitment Process Outsourcing (RPO). Recruitment Process Outsourcing (RPO) is a good fit for companies that find themselves in a hiring bind. Has your company found itself in any of these situations… an immediate-need hire? A reorganization in the company? Customer complaints? Internal restructures? Reduction in costs? or large scale hiring needs? If you answered yes to any of these, RPO would make sense for your company and fulfill those requirements. Does your company have high turnover? Finding talent nowadays has become increasingly difficult and organizations have trouble identifying key personnel for their growth. Have you had similar challenges for any of your positions? We’d be glad to speak with you about how we can solve these challenges working closely with your team.

How is RPO different from traditional recruiting?

Recruitment Process Outsourcing (RPO) is different from traditional recruiting just as a partner is different from a vendor. Traditional recruiting consists of keyword searches, reading resumes, and skills, then handing over the next steps to the hiring managers. RPO is more concise, more targeted, and will allow the team at SourceMatch to act as an extension of your own, as we have a vested interest in achieving your recruiting goals. RPO allows a professional to effectively handle and fully manage the most practical and effective hiring steps. RPO concisely follows a flow or process and fully oversees the candidate hiring steps from beginning to end. We take from our experience of more than 25 years of international recruiting across industries, sectors, and organizations. SourceMatch will take on all and any of the obstacles that your company may face in regards to hiring barriers while working closely with you to develop a relevant pool of professionals.

What does the outsourcing process look like?

Recruitment Process Outsourcing (RPO) begins with the definition of your exact recruiting need. In some cases, organizations might have a challenge with finding candidates, while others might have too many on their hands that aren’t suitable. With a clear objective, we build a service that complements the client’s own resources and efforts. Any of the components of our RPO solution have analytics at their core. This provides our clients’ team with transparency to understand key performance metrics at any stage of the process. While having in place clear processes and goals, we know that the market isn’t static. To address changes in demand and complexity, SourceMatch has the ability to scale allocated resources so that our teams’ efforts can address the client’s needs proportionately. Beyond the technology that enables our Engaged Recruiting RPO, our teams have a strong emphasis on staying human with benefits to both client stakeholders and candidates. Software and processes can easily lead to a transactional approach, with direct negative consequences on the quality of the recruiting process. At the end of the day, however, candidates and hiring managers alike are people with aspirations and expectations. There is much more covered by our process that would be detailed in a Statement of Work as soon as we define this with your team.

How do you outsource your recruitment process to make it more efficient?

Recruitment Process Outsourcing (RPO) makes your company’s internal functions more efficient in many ways. RPO can offer benefits such as improved hiring time, increased quality of candidates, and the provision of verifiable metrics for the recruiting process. In today’s competitive marketplace, these factors can give businesses a significant competitive edge. Making the recruitment process even more efficient, RPO gives overburdened companies an effective outlet for filling job vacancies. By allowing SourceMatch to be your RPO partner, you free up time and resources that your company may use for internal functions and management stability. At the same time, whenever you experience peaks in demand for hiring, we devise a plan to temporarily increase the number of SourceMatch specialists working with your core RPO team.

The SourceMatch Engaged Recruiting model is the upgraded RPO of today’s dynamic market

SourceMatch’s Engaged Recruiting model will fit your hiring needs. We’ve looked at the traditional RPO model and gave it an upgrade, with the desire to constantly find valuable candidates that meet and exceed our clients’ expectations, rather than rely on volume recruiting. Whenever a customer decides to use our Engaged Recruiting RPO mode, we start with a conversation about your organization. We first discuss your needs to clearly define what is it that you need to succeed. We also map your company’s work culture and your open positions’ requirements. SourceMatch then incorporates that information in our talent mapping process, targeting certain areas and a specific number of professionals that meet or exceed requirements. We do this by differentiating between active and passive candidates using our unique tools and an extensive network of professional relationships. As for candidates, we start with a simple yet powerful question as we further want to identify whether they are suitable or not: “What are the next logical steps in your career?” Too many times recruiters have treated candidates as commodities, to the detriment of everyone involved in the recruiting process.
If we see there’s a correlation between what they’re aspiring toward and want for their career, then we continue to determine their aptitudes, reliability, cultural proximity, experience, and behavioral traits. Last but not least, one of the key traits that make the difference in the success of a professional is Drive. Will they drive themselves, others, and the company toward new heights? Candidates then complete a custom set of assessments since we want to provide you with an additional layer of information about who the candidate is beyond the resume. We present our top candidates to you after we have fully vetted the applicants. We also help with job offer design and delivery.

Engaged recruiting is about having everyone engaged at every step: defining the talent you need, finding top suitable candidates, vetting them, determining the select ones that stand out, and eventually working with you to onboard the professional that can make a difference. Throughout this process, we involve you with relevant communication via email, status briefings, and data analytics pertinent for effective decision making.

Some advantages of RPO include reduced costs, reduced turnover, reduced internal strain, healthier work culture, happier staff, increased productivity, better branding, greater access to resources, and improving internal functions.

Reach out to us for a quick discussion to find out how SourceMatch can utilize RPO to suit your needs!