Improving contractor quality, quantity & productivity through project recruitment
When issues with the quality and availability of contractors start affecting programme delivery, it’s time to take a fresh approach. New Street Consulting Group was engaged to turn around an ineffective project resourcing service.
We delivered rapid results that dividends in terms of improved hiring metrics and stronger performance and productivity.
- New resourcing model and hiring approach for Big Four professional services firm.
- >£500k of annual client cost savings. 100% compliance to screening requirements.
- 25%+ reduction in time to fill. 92% conversion rate. 93% retention rate.
Our client, a big four professional services firm, is a major provider of financial remediation implementations to the financial services sector. It had faced challenges in hiring the desired quality and volume of contractors into its remediation and complaints practice. Surety of supply was vital to meet strict client project milestones and service level commitments.
The mobilisation, and ramp down, of projects were being affected by the complexities of managing large numbers of suppliers. The supplier tail featured inconsistent commercial terms and conditions, with varying levels of quality of delivery and operational process rigour.Issues included a discrepancy between high candidate assessment scores and subsequent performance levels whilst on assignment. A lack of agency involvement post placement was identified as a major contributing factor to this.
We were engaged to deliver a more innovative, effective resourcing solution that would rapidly fill the vacancies within the team. The goal was to deploy contractors who would enhance the performance and capability of the practice – to support the delivery of key programmes and to improve business-as-usual activity.
We put a dedicated team in place, comprising account relationship management, sourcing consultants, background checking, contractor care and finance team members. This created a smooth end-to-end process from requisition to invoice for the client, candidates and engaged contractors.
Several areas for performance improvement were identified. We introduced a transparent, consistent commercial model to add clarity to project resource planning and commercial modelling. Our operational process and governance strengthened transparency and real-time reporting.
In a two-week period from the start date, we were able to we also create and run a bespoke, two-stage assessment centre incorporating assessment, stringent vetting, contract offer and related administration. Our processes ensured compliance to strict background checking requirements, incorporating social media as well as those of changing regulatory and legal requirements.
We have subsequently supported the resourcing of a number of the client’s PPI remediation programmes, delivering additional benefits from the consistency of commercial terms across multiple client projects.
Through increased visibility of demand and the ability to proactively pipeline contractor requirements, we ensured all resource requirements were filled on time and in full.
The statistics illustrate the success of our approach to contractor attraction, assessment and deployment.
- 97 suitable candidates shortlisted. 63 candidates met. 52 interviews arranged.
- 48 placements made (92% conversion rate). 93% retention rate.
- 25%+ reduction in time to fill.
- 100% compliance to screening requirements.
- >£500k of annual client cost savings.
It has been particularly gratifying to see the impact on productivity levels. When the right thinking goes into the design and delivery of project recruitment, team performance will be visible boosted.