client B - large investment bank

This large investment bank was looking to rationalise their business and introduce significant cost savings. They had recently invested in an integrated HR and recruitment software solution, but had not used the software to its full capacity.

Outcome - annual savings of £200,000 realised !

understanding the business and setting RPO objectives

One of Origin's first tasks was to fully understand the client's existing supplier agreements and terms of business, the aim being to establish a preferred supplier list (PSL) and re-negotiate competitive terms for the client.

Previously, 90% of recruitment had been through agencies or search firms. One of Origin's first objectives therefore was to develop the client organisation brand, help redesign the website and introduce direct recruitment methodologies through job boards, referral schemes, universities and business schools.

cost reductions

A rationalisation of the PSL was achieved with improved rates and terms of business. Over a 6-month period Origin achieved a 30% direct hiring ratio, improved retention through promoting internal movement on an intranet site whilst reducing the reliance on agencies to 50%.

This produced client savings of £200,000 on an annualised basis.

An audit was also conducted on all temporary recruitment contracts, supplier agreements and limited companies, aim being to review the duration of assignment, rates and VAT efficiencies. This had the effect of reducing the temporary population from 90+ to less than 30 temporary workers including IT contractors. Origin re-negotiated various contractual arrangements to incorporate best practice regarding the latest employment legislation.

further added value services

In addition to the above, Origin introduced/managed the following:

• quarterly PSL review meetings
• production of monthly reporting schedule detailing costs, source, time to hire
• redeployment of potentially redundant employees
• project management and scoping for the development of a careers portal 
• re-launching the employee referral scheme
• introduction of a tangible awards scheme, including the commercial tie up with a major 3rd party
• design of job templates for business areas

Contact Origin Now, to see how you can benefit from similar costs savings with our recruitment process outsourcing solutions - flexible, scaleable and designed for you!