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Executive Summary
Our client is an American multinational Fortune 500 company who provides financial technology services to clients across the financial services sector, including banks, thrifts, credit unions, securities broker-dealers, mortgage, insurance, leasing and finance companies, and retailers. They are a leader in the Fintech sector and one of the most admired FS companies in the world. Cpl has been successfully delivering our end-to-end Recruitment Process Outsourcing (RPO) service to this fintech client for over 5 years. Over the last 4 years, the Cpl TEG team has placed over 370 technical and highly skilled fintech professionals across data analytics, software engineering & software architecture, tech ops, PMO, and mobile.
Client challenge:
In 2016, the company, which already employed 300 workers in two separate facilities in Dublin was looking to expand to a new facility. This would be the company’s first Irish location outside of Dublin. Their plan was to have R&D teams based here working on an array of projects in the digital commerce arena.
The new R&D centre in core areas of focus would include:
Data Analytics
Machine Learning & AI (Artificial Intelligence)
Intelligent Infrastructure
The client needed to scale up the new facility quickly by taking on a wide array of highly-skilled, in-demand talent. This level of growth would have put unnecessary stress on their internal HR (Human Resources) function. Therefore, they turned to Cpl TEG as the partner of choice to identify, source, and attract key talent to work in the new digital R&D operation.
The TEG team built an RPO team and a sustainable model that has been able to consistently deliver on their talent needs across complex roles in an extremely competitive market in a location that has never hired this type of talent profile.
Client’s journey:
Over the last few years, the client's needs and talent requirements have changed. As with any organisation, they have experienced hiring freezes and projects which have gone on hold at short notice. The ever-changing requirements have created uncertainty and given rise to unique talent acquisition challenges
As a partner, Cpl TEG understood these impacts and have built our model to be flexible and to scale up or down to meet these demands.
RPO Elements:
The TEG (Talent Evolution Group) team uses a unique RPO element process. Cpl provides a full range of RPO services which are broken down into RPO elements. By analysing the brief, having in-depth discussions with the client to understand their goals, and using their vast industry knowledge the TEG team can offer up a program tailored specifically to meet the client's needs. This approach meets client expectations and allows Cpl to utilise several aspects of each type of RPO offering. The TEG team proposed applying the following elements to help the client reach their hiring goals.
Original RPO:
Programme management
Talent acquisition
Localised sourcing strategy
Talent brand amplification
Recruitment co-ordination
Reporting and insights
Market entry advisory
Candidate experience
D&B
Expanded RPO:
International sourcing strategy
Recruitment marketing
Employee value proposition
People value proposition
Cpl delights the client:
Cpl has continuously transformed our RPO programme to support the client’s talent needs. This has included the creation of a dedicated specialist delivery team, scalable strategic sourcing channels, and technology enhancements to support recruitment and sourcing as well as talent tracking. Since the implementation of our dedicated sourcing team, TEG has ramped up to deliver over 95% of all technical needs year on year. This has been enabled by the dedicated team's focus on continually evolving our strategic sourcing, talent mapping, and talent pool creation.
To meet niche skillsets and volume hiring projects we also manage a preferred supplier list (PSL) of 5 third-party agency vendors. This list is comprised of client-recommended agencies and Cpl sourced agency partners. Our team utilise our proven and rigorous screening and compliance process to identify and onboard suitable third-party suppliers. We have a rigorous vetting and onboarding process for suppliers. This is done in person and supported through our compliance system. This can be audited at any time to provide a fully transparent supplier network that the client can trust in. To ensure the best delivery, we continually engage with our third-party agencies and track performance through SLA (Service Level Agreement) reporting and management.
This has seen us meet 100% of the client's talent needs through direct sourcing and the management of our third-party vendor supply chain. Over the last 4 years, we have placed over 370 technical and highly skilled digital professionals across data analytics, software engineering & architecture, tech ops, and mobile.
Results:
Our key to success with this fintech client involves our team understanding both the cultural and technical ‘fit’ of the target candidate. We only submit the most qualified candidates for the role, even if these candidates are from our partner vendors vs. ourselves as our only aim is to fill the role with the most appropriate candidate.
What Cpl’s Model delivers:
Cpl have built and sourced a technical talent pool of over 13,000 candidates
Over 370 placements across Technology and Data Analytics roles.
95% plus direct fill rate via Cpl
CV (Curriculum Vitae) to hire ratio: 6 to 1
Interview to Hire Ratio: 2 to 1
A further evolution has seen the implementation of a Strategic Account Manager programme that acts as the voice of the customer internally in Cpl and leverages our Business Process Excellence and Future of Work teams to bring innovation and promote customer and employee experience. A key feature of this development has been the evolution of market intelligence and the suite of reporting that we now provide. These have been developed by our team data and reporting analysts utilising Power BI (Business Intelligence) to bring together data from the multiple IT systems we use to support all elements of the RPO programme.
