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Financial Services and Insurance - Case Study No. 2
Case study on how cors, Inc provided targeted candidate flow for large-scale Loan Officer and Management expansion in a compressed timeframe for a top-tier U.S. based mortgage lender.
Problem:
Our client, a well-established U.S. Mortgage Company was seeking a large-scale solution for rapid expansion of its sales force. Although the client had an incumbent recruiting organization, recent budgetary cuts had pared down the organization’s size and capacity. In addition, the window of opportunity for recruiting candidates from selected targets was defined as ninety days. As part of the client’s previous recruiting infrastructure and processes, a large database of candidate contacts was collected. This database, however, had not been maintained or updated for a period of several years. Hence, the valid contact to total contact ratio made use of this list ineffective as a sole recruiting resource.
Implementation:
cors, Inc was contracted to support sourcing and complete basic qualifications checks for candidates from specific mortgage industry targets. Positions supported included Loan Officers, as well as Local, Area and Regional Management Staff. Because of the large number of candidates required for this initiative (10,000+), this tactical initiative required a highly coordinated, targeted approach. cors spearheaded the engagement and cold-sourced candidates from all designated targets. In addition to the cold-sourced candidates, cors received a printout from the client’s candidate database for the respective targets. cors contacted the 10,000+ cold-sourced candidates and presented client’s value proposition, checked initial qualifications and established a preferred time for the client’s recruiting staff to reach the candidate. In addition to the cold-sourced candidates, cors called every contact from the client’s database printout and determined if the contact was still valid. Those contacts that were valid were handled identically to the cold-sourced candidates. Those that were invalid were compiled separately for the client to utilize to update their contact list. Candidates who were interested in the client’s opportunity (average 200+ per day) and who met initial requirements were compiled into a comprehensive daily report and were forwarded to the client’s recruiting mangers. Based on location, cors assigned a recruiter zone to each candidate, per the client’s definitions. This information was included on the daily report to the recruiting managers so that daily dissemination of contact data to the respective recruiters was expedited and verifiable.
Results:
cors scaleable business model was easily able to handle this large-scale initiative, which required the processing of more than 1000 contacts per week. As a result of this partnership, the client’s highly trained recruiting staff was able to shed the responsibilities for sourcing and pre-qualification of candidates and focus on candidate touch-points that would result in conversion to hires. The sharing of candidate data was in near real-time and as a result, the client’s recruiters were able to quickly reach out to candidates, present them with additional value proposition details and expedite them through the hiring process. The services cors provided complemented the clients existing recruiting structure and provided a clear division of responsibilities. cors processed over 1400 contacts per week and provided the client with the necessary front-end support to make their hiring initiative a success.
