Stephen Owens is the VP of Talent Acquisition and Planning at a multi-million dollar, insurance company.
As with any Talent Acquisition leader, Stephen was looking to manage costs and create awesome long-term relationships between his people and the managerial levels. In short: the creation of both personal and financial efficiencies.
Stephen’s team started using Honeit mid-2019 at a price of about $8,000/annually.
Hiring manager time saved.
Using Honeit, Stephen’s recruiting team was able to foster much more positive relationships with hiring managers throughout the geographically-dispersed team. How?
“What I can show is that for every Honeit we share with managers, it takes five minutes for them to listen to the answers we shared. Now I just cut a manager’s time from a minimum of 30 to five minutes.”
“25 minutes of a manager’s time times the number of interviews we share in a year times the manager’s hourly rate is a huge number. It’s a no-brainer. I’m saving hiring managers 25 minutes per screen. Yes, I’m able to get more consistency, but that’s a HR-y thing.”
“This is about saving time and not sacrificing quality.”
A better interview experience.
They’ve been able to shift hiring events. The old model was that a pool of resumes was reduced to 50 by TA, 20 of those became calls, the calls became notes, and 5 were sent to the hiring manager, who typically selected 3. Out of the 3, 1-2 were brought on-site and eventually got an offer.
The new model is targeted at 25 hires per new “class,” and Stephen’s team has submitted 40-45 Honeit profiles to hiring managers. They can listen to all 40 in a little over an hour, and decide what 25 they want to offer.
Now, instead of coming on-site for interviews, the candidates come on-site for a “meet and greet” as opposed to a standard hiring event. An entire stage is cut out, and in terms of candidate experience, the candidates are coming in with an offer — not to be further vetted.
Offers at warp speed.
In two recent cycles, they’ve moved candidates from a new req to signed offer in less than five business days.
“We’d receive a requisition on Monday and have offers out by Friday.”
“The speed to offer is incredible. It sells itself.”
$310,000+ saved in 6 weeks.
Between December 1, 2019 and January 14, 2020, Protective hired 106 operations employees — over the holidays.
“That’s nuts! We’ve never done that. We wouldn’t have hit it in previous years, and probably would have run half of it through an agency. A standard agency fee is about $6,000 per hire across our partners. Let’s say we did 53 of the 106 hires through agencies. 53 times $6,000 per hire is $318,000 for just those hires over the holidays.”
“Honeit helped us double the number of hires we could handle in-house, that’s an insane cost savings. By increasing recruiter productivity and throughput, in just six weeks, we saved over $310,000 in external recruiting agency fees.”