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Recruiting Hybrid Workforce For Unifying Business Goals

The Problem Statement

Client Details

  • Industry: Financial Sector- Wealth Management
  • Size: 2500+ Employees in Hybrid Workforce
  • Geography:Northern America
  • Founded in:1971
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The Problem Statement

Being the Industry mavens, our client acquired and replenished small financial start-ups and sinking firms. The stakes for making business are taking the risk. However, growing the company verticals was becoming a hassle in managing multi-dimensional HR policies, recruiting process, admin surcharges, and more.

However, the prominent fear of losing quintessential information because of hiring numerous vendors didn’t go away even by unifying the Human Resource department. This is when FlentisPRO- a customizable Vendor Management System came across as a solution for most of their problems.

Our subject matter experts sat down with the stakeholders and understood the nitty-gritty of the business process. In a nutshell, this shaped the wireframe of incomings and outgoings for the company and all its human resource verticals. Interestingly, they found:

  • Our client has been losing 38% of their HR Spends in arranging, advertising, and managing the first round of interviews for mid to senior-level jobs
  • Acquired businesses have been competing against each other to secure more workforce than they need in smaller subgroups even after unifying the HR department at the management level
  • To run at optimal revenue, this wealth management firm requires a 4:5 ratio of permanent: temporary job roles
  • There was no system to trace back the potential harm source for the company as it lacked a platform to track their remote employees’ or the possible data breach

“FlentisPRO enables organizations to secure operational dynamics. Whether you manage recruitment programs internally or externally, we have the right solution for you.”

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The Solution

Our client attended a 60-min live demo with our technology and implementation team. This marked a start of conversation, back-and-forth, between the parties to develop a centralized vendor management system for this large-scale firm.

The RFP was set out, and our client and their Managed Service Provider onboarded us as their workforce management partner so we could provide them a cost-effective solution. Our key feature to provide our clients 95% of the personalized platform had put us on the frontline. The final decision came right in as our around-the-clock services impressed the stakeholders.

We provided this wealth management company a multi-level control with zonal and branch managers holding different levels of decision-making authority when it comes to hiring & recruiting and budget allocation. The visibility of spends became more clear and easier to monitor.

For relevancy, the wealth management consultants are hired for a lot of project-based jobs that involve short-term gigs ranging from a few weeks to months. As the company’s work profile is quite sensitive and their reputation is on the line, they required enhanced technology to trace the data footprints. We were able to solve the problem with two major inputs- our Documents & Credential Management and off-boarding process. By managing to create a technology that automatically notifies expiring documents and contracts of employees, the company saved legal offenses greatly. This means they can plan off-boarding interviews and meetings well in time. And with our in-built video conferencing tool, scheduling such processes will never be a worry.

Another game plan was to integrate their existing Training System with our Learning Management System. Our clients are one of the Top 10 leading organizations who grant the certification for clearing their training modules that adds value to their employees’ resumes. So, with our open APIs system, our tech team created a bridge between the existing and new platforms. Their employees can now view and download their certificates from their dashboards. Not just that we provided and integrated LMS but also ERP and Payroll tools.

To amplify the efforts, we ensured the 30-day implementation of the talent management software with free hours of training. The after-sale service included a 24-hour Helpdesk to attend to queries and technical support.

The Result

Our client leveraged technology to help them bind as an organization despite being a group of acquired businesses. Their workforce grew to add 279 employees in the first few months nearing the ratio of 4:5 of perm to temp employees. They achieved 110% of the annual growth targets by up-scaling their contingent workforce. As a company working for Fortune 1000 clients, they now have a secure and fool-proof system to monitor their revenues and mitigate compliance risk related to vendors.

About Flentis

Incepted in 2017, Flentis is a growing, evolving, and future-first technology company that believes in bringing conscious change. Flentis is a game-changer for organizations planning or transitioning to automation. Our SAAS product, FlentisPRO, was built within 1Million+ expert hours. Not only it is fully customizable but the 9 sophisticatedly designed modules have enhanced the Vendor Management System to the next level. Available in 105+ languages, this global product has already crossed the $400M+ mark for the acquisition budget spent via FlentisPRO. If you’re looking for:

“A Reimagined, Reinvented and Renovated VMS Platform”

Then, let’s talk!