Leveraging our proprietary Talent Acquisition audit approach, we reviewed all facets of the client’s Talent Acquisition capability, from process and people, to technology and metrics. Based on the findings, we developed a strategic set of recommendations as well as a series of sustainable “quick hits” to tackle immediately.
Designed a process to reduce time to fill by more than 30%, from 60+ days to less than 40. Simplified their online job application to reduce drop off rates by 30% and improved candidate quality. Identified multiple new sourcing channels to attract more passive candidates. Demonstrated the need for a critical new metric, “Total Vacancy Time (TVT)”, that showed that while cost per hire was very competitive at approximately $1,000, the cost in terms of temporarily backfilling nurses with overtime and agency staff was over $30,000 per termination. Recommended several near term opportunities to reduce total vacant time by reducing attrition, shortening time to fill, and improving candidate experience. Designed the future state process, org design and technology infrastructure required to scale and sustain improved hiring and retention results.
Our analysis identified an annual cost reduction opportunity of $10 million+ that would simultaneously result in an increase of patient care quality. New talent acquisition strategy and process is currently in pilot.