CLIENT: Multinational Investment Bank
LOCATION: New York, London, Hong Kong
TALENT SOLUTION: Enterprise Total Talent
- Undersized Recruiting Team
- Agency Dependency
- De-Centralized Recruiting Process
- Reduced Talent Acquisition Spend
When the largest US-based investment banking leader looked to the future in 2018, they identified winning top talent as a strategic objective. However, their recruiting team was undersized for their growth projections, and the company relied heavily on high-cost agencies to direct source candidates.
A decentralized recruiting process allowed hiring managers to “own” their process. Often, they bypassed the internal TA going directly to agencies. Without a centralized process, they lacked accurate reporting, and were not able to measure agency performance or effectively move the needle on strategic diversity hiring objectives.
Launch Centralized Total Talent Solution
Through a thoughtful implementation and change management plan, we launched a Total Talent solution that established processes for opening reqs for perm and contractors, approvals to engage high-cost agencies, and technology solutions to track and improve processes. Our solution delivered:
- Multi-tiered Sourcing Strategy
- Build Diverse Talent Pools
- Agency Vendor Management Program
- Process Improvement
- Data Driven Decision Making
Reduced talent acquisition spend by 63 percent over three-year period.
LevelUP executed a plan to reduce TA spend over the course of three years, by transitioning from agency usage to low fee / no fee sourcing strategies, passing cost savings to the client.
The program was able successfully reduce the spend by 63% in year three while doubling total hires.
In a competitive industry, LevelUP’s sourcing and recruiting strategies have proven effective with high-profile hires, garnering attention from financial services news outlets.