Hyreo Post Offer solution – Case study for a leading IT outsourcing company
Table of Contents
A typical recruitment process starts with job requisitions getting approved for hiring by business and ends when a new employee gets on-boarded. In job markets like India, employees are contractually expected to serve a notice period before actual separation from their current employer. Typically this could range from 30 to 90 days and this notice period is an interesting phase. During this period the prospective new employer has released the job contract and is waiting for contract acceptance by the candidate, completion of joining formalities and on-boarding.
A lot of things can go wrong during this period of time.A 12-month Gartner survey found that 50% of candidates who accepted a job offer backed out before their start date It has to be expected that the candidate is talking to other organisations and their current employer would look to retain them too. Companies should identify creative ways to stay frequently connected with the candidates throughout the candidate’s notice period. Avoid unanswered questions or any delay in providing responses to candidate queries. Take candidate feedback and make their on-boarding steps simple, transparent and easy to complete. Hiring managers and corporate leaders should look to share their vision and inspire the prospect hires to be part of the journey. When compared to the pre-covid times, in-person and informal meet-ups with offered candidates in the pre-onboarding stage is almost impossible. Recruiters in today’s context should look at technology solutions to ensure that they have high offer conversion and not have a ‘spray and pray’ strategy.
Hyreo’s Post Offer solution is a proven solution aimed at helping organisations to run an effective post offer cycle. The Hyreo Post offer solution is built to ensure a 24/7 communication channel with offered candidates throughout the notice period stage. The platform has inbuilt conversational AI components to answer candidate queries, guide them on the on-boarding process and set up meetings with corporate stakeholders as required. . Hyreo can also provide human-like chat support for background verification steps including document collection and captures candidate feedback and sentiments. Considering candidate reach outs are automated, the process becomes scalable and consistent. End result is much more engaged candidates, higher offer conversion, more feedback received and over 60% of recruiter manual efforts getting automated.
Here we share a customer story where Hyreo supported a large IT outsourcing firm in effectively managing the post offer cycle.
The challenge
The IT firm offers over 1500 candidates per month through various channels including direct hiring, RPO, contingent and contract staffing partners.
The key business objectives of the customer were:
Improve the overall offer conversion rate from 65% to over 75%.
Automate intervention requests from candidates and answer 40-50% recurring on-boarding related questions.
Improve time taken to complete document collection and other on-boarding process by 20%
Get first hand warnings on offer renegotiations or declines (proactively analyse a candidate’s propensity to join).
The Hyreo approach
Hyreo post offer (H4P) solution was rolled out and integrated to the existing Applicant Tracking System (ATS).The system was configured based on the customer’s post offer and on-boarding process.
Constant candidate nudges : Hyreo stayed in touch with the candidate through automated mail, text messages
and the chatbot assistant ensuring candidate queries are addressed promptly
Candidate sentiments and feedback : The system collected candidate feedback and analysed sentiments
and assisted the recruiter on specific actions to be completed.
Assist in background verification (BGV) and on-boarding steps : Automated document collection,
tracked progress of activities and setup HR interventions as required.
RAG status analysis : The platform also included the capability to provide early warnings on candidate
propensity to join the organization, based on their conversations and on-boarding activities.
Benefits to the customer
The overall results based on the last 8 months data is remarkable.
Each month the system created over 10000 automated candidate touchpoints via emails and SMS & resulted in over 2500 unique candidate chatbot conversations by the candidates.
Within 8 months, the customer reported approximately a 5% improvement in offer conversion rate.
81% of candidates interacted with the chatbot and 42% of their queries were resolved by the chatbot automatically.
62% of all the documents were collected by the platform with zero follow-up effort by the recruiter.
The early warnings on candidate propensity to join or decline the offer showed 76% accuracy with 80% accurate prediction on candidates who joined and 74% accuracy on offer declines.
And the customer also experienced a 150% improvement in feedback/NPS received across multiple aspects of the recruiting experience with the company.
With recruiting expected to be run virtually by most organisations in IT, technology, engineering and other verticals for the next 8-10 quarters, recruiting teams need to adapt to the new normal really fast. All recruiting activities like candidate assessments, interviews and onboarding are all being conducted virtually. Such a situation demands companies to adopt digital solutions to ensure a virtual yet connected world for prospective hires. Hyreo Post Offer solution is an example of one such advanced solution that can help recruiters to stay in touch with the offered candidates.
