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Financial Services and Insurance - Case Study No. 3
Case study on how cors, Inc provided diversity recruiting solution for a national financial services and insurance company
Problem:
Our client, a large national insurance company specializing in insurance, annuities and financial planning, required recruiting support for developing their diversity sales force in six different U.S. regions (Connecticut, Chicago, New York, Dallas, Miami, and Tampa). Candidates for these positions were required to be diverse in accordance with EEOC guidelines, and to have specific production and sales accomplishments. Multiple openings existed. As the candidate pool for these openings was extremely limited, Managing Directors, who were also tasked with running their respective sales operations, were experiencing difficulty with sourcing and hiring qualified diverse Financial Professionals.
Implementation:
cors, Inc was contracted by the client to find diverse experienced Financial Professionals who were interested in the client’s opportunity and who met the client’s production requirements of 40K FYC and licensing requirements of Series 6 or 7. cors researched and contacted experienced financial professionals from peer companies in the target markets. Those candidates who were qualified, interested, and met EEOC diversity requirements, were routed directly to the client’s applicable Hiring Manager for review. Approved candidates were then scheduled for face-to-face interviews. Successful candidates were moved through the hiring process and extended offers of employment.
Results:
This engagement demonstrated the value-added impact recruitment research has on a tactical hiring initiative. The client’s efforts to recruit experienced diverse Financial Professionals had yielded unsatisfactory results and market-share opportunity was diminishing. Despite the narrow pool of financial professionals who met the client’s EEOC diversity requirements, cors’ targeted process-centric approach identified candidates in the marketplace who met all of the client’s requirements. In addition, cors provided the client with valuable research data about Financial Professional production in their competitive marketplace. Partnering with cors enabled the Managing Directors to select the best diversity candidates from the pool of qualified, experienced financial professionals. As a result of the engagement with cors, the client was able to realize hiring objectives, leverage expertise in key demographic areas, and capture market share.
