Sourcing expertise and talent intelligence find right-fit candidates for two facilities in Romania
global banking and financial services company
When scaling up hiring at two locations in Romania, the company struggled to find candidates due to high demand and low supply of qualified talent, especially for IT roles.
A recruitment process outsourcing (RPO) program, supported by talent intelligence and other value-added services, helped the organization overcome talent scarcity and identify the best local candidates.
The company engaged more than 14,000 candidates and filled 140 business-critical positions in one year.
low talent supply complicates recruiting
As talent scarcity continues to impact companies worldwide, it’s become increasingly necessary to find new ways to find and attract talent.
That was among the challenges facing this major global banking and financial services company when expanding operations at its two facilities in Romania. Part of the challenge is that demand for specialized talent — particularly IT roles — is often higher than supply.
And without the insights to identify the best sources of talent with the right skills, nor knowledge of competitive compensation rates, the company struggled to attract and hire the best candidates.
The company’s internal recruiting team was also challenged by heavy workloads. This further compounded its challenges, resulting in a longer time to hire. Recognizing that the status quo was unsustainable, the company sought out external expertise to secure talent for its operations in Romania.
a data-based approach to recruitment
To help overcome these hurdles and connect with the right talent, the company partnered with Randstad Sourceright and implemented a recruitment process outsourcing (RPO) program.
The RPO solution was delivered as a source and screen model to find top candidates for hard-to-fill IT, banking and administration roles. Through this arrangement, the RPO team works closely with the company’s recruitment team to source and identify the best candidates from referrals, job board applications and internally. With the RPO managing sourcing and screening processes, hiring managers receive pre-screened candidates, enabling a more efficient recruitment process and enabling the team to operate with greater agility.
Randstad Sourceright’s talent intelligence services give the company access to crucial data and insights about the local talent market. For instance, with a greater understanding of skills supply and demand, recruiters and hiring managers can have more qualitative discussions about how to find the right candidates. And by gaining insight on market compensation rates, the company can better attract top talent by ensuring they receive competitive salaries.
The company also uses Randstad Sourceright’s TalentRadar analytics platform to monitor the progress of the program report in real time to key stakeholders. And with Talent UX, the company can build robust talent pools of local IT and banking talent that it can draw from as new positions become available.
a winning recruitment strategy
Since adopting RPO, the company has achieved a more efficient recruiting process to find qualified talent in Romania despite growing scarcity.
By outsourcing the screening and sourcing processes, the company connected with talent it might otherwise have missed. Overall, 14,000 candidates were contacted by the RPO’s recruitment strategies, resulting in a 33% response rate. This ultimately led to 140 accepted offers in one year — including numerous niche and hard-to-fill roles. As a result, the company is meeting demand for high quality talent to drive its initiatives forward.
The RPO program has received very positive feedback from the company’s hiring managers, who appreciate the support in meeting their hiring goals. This is especially true for high-demand roles for which the company couldn’t not have filled on their own in such a short time span.