Technology disrupts Retention Rates
Tom Bailey, Director at Recardo Group, explains how adopting new Technologies enabled them to disrupt the UK Retention Rate average by improving the Recruitment process.
The UK recruitment industry was valued at £42bn in 2019. However, the UK's retention rate for new employees was only 73%, which means that £11bn of recruitment revenue was made despite the Client not retaining the Talent!
Imagine reporting to the Board that you have only hit 73% of profit, I cannot imagine that you would be met with the same leniency that's accepted within the UK Recruitment industries retention rate. Recardo Group have set out to address this issue for their Clients.
Recardo Group is your Finance Shared Service Centre Recruitment Partner who specialise in Transactional Finance across the United Kingdom. Utilising state of the art video technology, Recardo Group have created a unique process that is tried and proven to speed up the recruitment process whilst improving the quality of hire. Our Clients have therefore seen an increase in retention rate, which on average is 96%.
All around us, technology is evolving, we can evidence this in every way from our mobile phones, through to Finance technologies being implemented with Artificial Intelligence and Machine Learning at their heart. Why is it therefore, that the CV and the recruitment process has hardly changed in over 50 years?
To meet this challenge Recardo Group, have developed a cross branded Online Shortlist Portal. Within which you can review a CV whilst watching a video interview between one of our Consultants and the Candidates. This provides raw, unedited footage where we ask tailored questions specific to your company and job opportunity.
This platform can then be shared with multiple Hiring Managers in the decision-making process. Thus, eliminating the requirement for a multi stage recruitment process. Our platform is fully password protected and allows a unique space to communicate with the Hiring Managers in our locked chat rooms.
How many times has your onboarding process slowed you down when hiring for an urgent role? Our platform has also been approved by the UK Government to verify Right to Work documentation when onboarding candidates. Meaning we can virtually onboard talent faster and safer whilst supporting your Human Resources function.
Our relationship with Finance Transformation UK means we can offer discounted services whilst working with Global leaders within the Finance Shared Services space to truly understand your requirements. We're your genuine Business Partner that helps you Source and Retain top talent in a highly competitive market.
Author: Tom Bailey
Tom brings a wealth of experience in Transactional Finance recruitment having worked in the industry for the last 10 years. Recardo Group was founded to prioritise service over profit - put candidates first and work with clients, rather than pushing for sales targets. Simply put, we're passionate about people.