#FIRMday 15 May 2014 Nick Thompson, 'Success on a Shoe String - The Thames Water Story'
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Thames Water had a costly and inefficient hiring process, with a cost per hire of over £4,000 and time to hire of over 26 weeks. They implemented a series of low-cost initiatives like an RPO, limiting temporary contracts to 12 weeks, revised attraction strategies, and social media recruiting. These changes led to dramatic improvements, with a cost per hire under £400, time to hire of 6 weeks, and positive candidate experience for 98% of applicants, all while spending less than the prior year's budget.
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#FIRMday 15 May 2014 Nick Thompson, 'Success on a Shoe String - The Thames Water Story'
- 1. Success on a shoestring Nick Thompson, Resourcing Specialist The Thames Water Story May 2014
- 2. “Once upon a time……”
- 3. Cost per hire piggieCandidate experience piggie Time to hire piggie Meet the characters
- 4. Candidate Experience •An application process of over 11 minutes •Applications only accepted through Internet Explorer •Application black hole •Long confusing recruitment process •Blinded by science in adverts
- 5. Cost per hire •Over £4,000 •Agency usage of over 60%
- 6. Time to hire •Over 26 weeks to offer •The add in a 4 week notice period •Huge dependency on temps to cover gaps
- 7. Where to start? • Huge budget? • Tackle it all at once? • Start again? • Give up?
- 8. What we did RPO 12 week ruling for temps Revised attraction strategy Volume campaigns Assessment centres Graduate & Apprentice recruitment eLearning for managers Social media Sonru Video Interviews Application process SHL interview report Talent pools
- 9. RPO 12 week ruling for temps Revised attraction strategy Volume campaigns Assessment centres Graduate & Apprentice recruitment Where we started
- 15. Talent pools
- 16. “Sounds expensive” - Delegates at The FIRM Conference May 2014
- 17. The Shoestring bit It’s probably easier to say that there was little or no budget available for these projects. What did we do? RPO 12 week ruling for temps Revised attraction strategy Huge cost savings around the business Even more savings around the business Reduced job board spend, freeing up budget
- 18. The Shoestring bit cont… Time and cost savings in attraction Savings in managers time around the business Our little pot of gold, huge cost savings Volume campaigns Assessment centres Graduate & Apprentice recruitment
- 19. The Shoestring bit cont… Improved candidate experience Further reducing our job board spend Our money behind the sofa eLearning for managers Social media Sonru Video Interviews
- 20. The Shoestring bit cont… You cant put a price on candidate experience Further reducing our job board spend Our lottery win SHL interview report Application process Talent pools
- 21. The results This is what you all want to know........... All delivered for less than our budget last year Candidate experience 98% positive Cost per hire under £400 Time to hire 6 weeks Agency usage of 2%
- 23. Any questions?
- 24. Next chapter The next chapter hasn’t been written yet New fairy tail wanted for one big bad wolf with a track record of delivering innovative resourcing solutions. Find out more at www.concept82.co.uk or email nick@concept82.co.uk