How We Created a Custom Behavioral Assessment Framework for a Leading British Bank

HOW A CUSTOM BEHAVIORAL ASSESSMENT FRAMEWORK CREATED A £24M SAVINGS FOR A LEADING BRITISH BANK

HOW A CUSTOM BEHAVIORAL ASSESSMENT FRAMEWORK CREATED A £24M SAVINGS FOR A LEADING BRITISH BANK

PeopleScout’s talent advisory team created a new candidate assessment center for a large British bank, resulting in a 58% reduction in recruitment costs totalling £24M.

58 % Reduction in Recruitment Costs

resulting in a £24M savings

55 % Reduction in Attrition

in the first year

50 % Reduction in Application-to-Hire Ratio

from 32:1 to 16:1

SITUATION

Arriving at the right assessment solution for a complex, multi-billion-pound contemporary business is a major challenge. But, this was a challenge that PeopleScout’s team of psychologists was built for when our banking client came to us with a big brief. The banking group had just launched a crucial new set of values. They wanted us to create a custom behavioral assessment framework, along side a full suite of candidate assessment tools to support hiring into core customer-facing roles across the bank.

SOLUTION

We began by carrying out a comprehensive job analysis, involving focus groups with over 300 colleagues as well as one-on-one interviews with job incumbents, senior stakeholders and transformation stakeholders. We identified synergies and differences between role requirements and complexity across the financial services organization. The detailed research and analysis revealed three job families across all roles, each with four levels of complexity. We developed definitions and behavioral indicators for each group and each level in the framework.

Following sign-off on the new behavioral framework, we developed the assessment matrix and recommended key assessment methods. We streamlined and simplified the existing multi-stage process, bringing both the process and tools into alignment with the new values. This made it easy to understand and implement across the bank. We recommended a three-stage process across the framework, allowing for tailoring to job family and complexity levels, using specific skills assessments and assessment center micro-exercises.

RESULTS

We built-in various ways of measuring the cost-efficiencies and the overall return-on-investment of the end-to-end assessment solution. The client was delighted with the results:

  • A reduction in the classroom-based training time required as the calibre of candidates was improved.
  • Improved conversion at every stage of the assessment process, meaning less business time was required for assessment. The application-to-hire ratio was cut by half, from 32:1 to 16:1.
  • There was a 55% reduction in first-year attrition.
  • There was a 58% reduction in whole life recruitment cost, saving £24M.

AT A GLANCE

  • COMPANY: Leading UK bank
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing, Talent Advisory
  • ABOUT THE CLIENT: This client is a leading UK financial services group that includes several retail banking brand. The company has been partnering with PeopleScout for over 20 years, making it one of our longest-standing client relationships.

How to Reduce Time-to-Hire with Candidate Assessment

EXPERIENCE NOT ESSENTIAL: HOW WE SIGNIFICANTLY REDUCED TIME-TO-HIRE FOR A LEADING UK INSURER

EXPERIENCE NOT ESSENTIAL: HOW WE SIGNIFICANTLY REDUCED TIME-TO-HIRE FOR A LEADING UK INSURER

Co-op Insurance came to PeopleScout for a new assessment center and streamlined recruitment process, resulting in a reduced time-to-hire and quality new talent.

Reduction in Time-to-Hire
Reduction in Time-to-Hire
73 % Assessment Center Pass Rate

up from 41%

Positive Candidate Feedback
Positive Candidate Feedback

Employing 70,000 people, the Co-op is known across the UK as a leader in socially conscious, community-led business. As well as being the country’s fifth largest food retailer, it is also a major general insurer. Co-op Insurance came to PeopleScout with a problem. They were having big issues recruiting the voices of the organisation: high-quality, productive, right-fit Claims Advisors who would stay. Also, the time-to-hire was very slow and a drag on the time of the resourcing team. Their recruitment process needed a complete overhaul.

SITUATION

The process we were presented started with a manual-intensive résumé screen. Because of the volumes that were coming through, the Co-op resourcing team was conducting daily résumé screens. This ate up immense amounts of time and resulted in the team screening candidates based on experience. That meant they were inconsistent in the way they were screening candidates (about 70% passed the screen). Those who passed this stage then had a qualifying call. This was not a formal telephone interview, but an introductory call to check the experience on their résumé, discuss any gaps and make sure they were eligible to work in the UK (85–95% passed this stage). Finally there was a face-to-face assessment centre—consisting of a computer-based assessment and interview. Following this, was the offer and induction.

SOLUTION

The right solution meant two considerations: what to assess and how.

  1. WHAT – We conducted a period of job analysis to understand what good looked like in the role.
  2. HOW – We needed to identify a solution which would support progressing candidates at speed through the process, providing a realistic job preview and automatically screening candidates so there was less manual intervention by the resourcing team.

We suggested removing the résumé screening step which meant there was less reliance on experience only. This allowed us to assess the whole person, progressing candidates who had no experience but great potential. We developed an online tool that incorporated a situational judgement test which tested for attention to detail and a video interview. Candidates completed this in one sitting, further reducing the time-to-hire. We also supported in the design of an assessment center.

RESULTS

The Co-op’s resourcing team was delighted with the new process. It’s easy to use and gives them back invaluable time to work on other projects. The assessment center significantly reduced time-to-hire, owing to the speed and efficiency of the new process. The pass rate at the assessment center stage is 73%—a big increase on the previous rate of 41%. This means that a much higher proportion of the best-fit candidates are going further in the process. In addition, new hires have been identified by the business as individuals who are motivated to succeed, with a propensity for learning and a growth mindset. Candidate feedback has been very positive, with many saying it gave them a proper understanding of the role.

AT A GLANCE

  • COMPANY: Co-op Insurance
  • PEOPLESCOUT SOLUTIONS: Recruitment Process Outsourcing, Talent Advisory
  • ABOUT CO-OP: Co-op Insurance is part of Co-op Group, one of the world’s largest consumer co-operatives, owned by millions of members. As a leading UK insurer, the organization offers coverage for business, home, life, motor, travel and pets.

Talent Assessment: Bringing in Better with Passion, Purpose and Mindset

Talent Assessment: Bringing in Better with Passion, Purpose and Mindset

Most employers are still using legacy assessment processes that are ineffective in today’s competitive recruitment landscape. With the cost of one bad hire reaching as high as $50,000, it’s imperative that organizations ensure they’ve assessed candidates’ current skills, future potential and cultural fit.

So, how can you adjust your assessment process to bring in talent that will support their business now and into the future? In this book, Talent Assessment: Bringing in Better with Passion, Purpose and Mindset, we explore how employers can rethink their assessments to hire talent that will thrive.

In this ebook you will learn:

  • Why assessing only for knowledge and skills puts you at risk
  • How investing in technology helped one retailer modernize their assessments and improve the candidate experience
  • How to customize your assessments to find the right passion, purpose and mindset

McKesson: High-Volume Veteran-Focused Hiring Solution

McKesson has engaged with PeopleScout for eight years. Over the course of our partnership, PeopleScout has managed hiring for a variety of positions including professional, managerial, sales, finance and administrative roles. PeopleScout’s engagement includes a specific focus on hiring veterans in all positions to support McKesson’s goal to become known as a top employer for veterans and military spouses.

Scope & Scale

One of the world’s largest healthcare companies required a high-volume hiring solution to fill positions across multiple departments. Positions in scope include management roles, finance, sales and administrators. The RPO solution required special emphasis and priority on improving diversity and veteran hiring initiatives.

Solution

VETERAN TALENT COMMUNITY

PeopleScout created a Veteran Talent Community which provides McKesson with access to thousands of active and passive veteran job candidates and opens the door to additional job opportunities for veterans.

IMPROVED WEB DESIGN

PeopleScout helped to administer a customized McKesson veteran careers webpage to attract and process veteran candidates.

RECRUITMENT MARKETING

Veteran-targeted marketing and sourcing strategies were developed including improving relationships with more than 800 military organizations, posting jobs on veteran job boards and social media marketing.

ONGOING TRAINING

PeopleScout provides ongoing training and education for members of the recruiting team to ensure military resumes are matched with civilian job requirements.

SCREENING PROCESSES

A veteran priority screening process was created to identify and prioritize veteran candidates.

DIVERSITY & INCLUSION

PeopleScout hired a Navy veteran to lead the D&I initiative on the recruiting team.

Results

HIRING SUPPORT

In 2019, PeopleScout managed more than 3,000 hires across North America.

DIVERSITY IMPROVEMENT

PeopleScout provides a diverse slate of candidates on 95% of all requisitions.

INCREASED VETERAN HIRING

Veteran hiring improved from 3.3% to 8.6%.

STRONGER EMPLOYER BRAND

Targeted veteran recruitment and marketing strengthens McKesson’s veteran employment brand, resulting in McKesson being recognized as a leader in veteran hiring by national media outlets.

McKesson’s Veteran Talent Community, veteran landing page and recruitment marketing strategy are supported by PeopleScout’s proprietary talent technology, Affinix.