Client’s Challenge

A global hedge fund specializing in distressed credit recognized inefficiencies in its talent assessment process. The existing recruitment and testing methods were lengthy and redundant, leading to candidate loss and internal fatigue. The firm also had an underutilized yet costly relationship with its testing partner, impacting its return on investment (ROI).

Talent Growth Solution

Talent Growth Partners embarked on a three-phase project to assess and reimagine the talent acquisition process:

Stakeholder Engagement: Co-led with the Human Capital team, significant data was captured from candidates, employees, 3rd party retained recruitment firms, and senior leaders.
Research and Process Redesign: Conducted a thorough assessment of the existing recruitment methods and testing processes, identifying gaps based on current and emerging best practices.
Streamlined Recruitment Framework: Developed a structured cascading recruitment framework, including key steps, milestones, rejection analysis, and a candidate scorecard.
Optimized Testing Partner Relationship: Identified underutilized contract, corrected improperly implemented testing baseline within key function, renegotiated the contract to maximize $100,000 in committed funds, and set up an internal team to ensure effective contract management.

Outcome

The project's success was marked by several key achievements:

Streamlined Recruitment Process: Achieved a more efficient and effective recruitment process.
Improved ROI: Optimized the relationship with the testing partner, enhancing value and utilization.
Improved Candidate Experience: Anchoring to best-in-class practices, candidate experience and conversion improvements.
Educational Component for Human Capital Team: Equipped the HR team with the knowledge and tools needed for the successful implementation of the new process.