Singularly focused on serving financial institutions, EDGE Services (EDGE) provides business consultants to banks, credit unions, and financial services companies. EDGE is known for extensive financial services industry experience and the ability to meet precise skill requirements to deliver the best consultants in the business.
EDGE’s high-touch, highly consultative placement model was not effectively converting within VMS program metrics. In the case of one key banking industry client, the VMS scorecard results were in sharp contrast to the time, effort, and expertise EDGE was committing to search and sourcing efforts. Scores were mediocre while EDGE was putting in maximum time, resources, and effort. In order to profitably serve clients through their VMS staffing programs, EDGE realized it needed to refine and optimize its solution for VMS.
EDGE turned to offshore recruitment partner 247Hire (247) for support in analyzing and optimizing its VMS recruitment management approach. With more than two years of experience working with EDGE on talent sourcing, 247 was thoroughly familiar with the EDGE teams, values, and standards. This inside knowledge, combined with 247’s expertise in helping staffing companies meet VMS program requirements, was quickly put to work.
After comparing recruiting processes with VMS scorecard results from the banking industry client, 247 and EDGE identified several areas for optimizing VMS program fulfillment:
Eliminating Requisition Bottlenecks: In an effort to best serve their financial clients, EDGE recruiters were carefully submitting requisitions to their 247 team of offshore sourcers. The added time for aligning requisitions to offshore resources was costing EDGE time and lowering VMS scores for speed and fulfillment.
Seeing the slowdown, 247 suggested EDGE eliminate the sorting activities and send all requisitions directly to the offshore team. After implementing a simple adaptation to the client’s ATS, the job of rapidly assigning sourcing priorities fell to the offshore recruiting team.
Immediately assessing each need, the offshore recruiting team can now rapidly launch into search and sourcing mode. The process change allows EDGE to take full advantage of an offshore team with twenty-four hour a day sourcing capabilities and the ability to scale resources up or down to meet demand. This single process enhancement has resulted in significant VMS scorecard improvements, including the reduction of EDGE’s “response time on positions” from 7.11 days to less than half a day (.47 days).
Streamlining Roles: To increase internal focus and commitment to the VMS staffing program, 247 also suggested tying the compensation of key EDGE recruiters to the VMS scorecard results. This change elevated the internal priority on the VMS program, demonstrating to EDGE managers and recruiters that VMS success was important to company success.
As a result of the process and delivery improvements, EDGE now has a highly competitive VMS solution offering. The company has added several new VMS clients, which is something EDGE “would not have been able to do without 247 as our partner,” according to Senior Vice President, Scott Koenig.
For the original banking industry client, EDGE dramatically improved scorecard performance in every metric and has maintained premier vendor status since making all the adjustments. “Every category of VMS scorecard performance has improved substantially since optimizing our recruitment management process with 247,” said John Ferrone, VMS Manager, EDGE Services. “We have continued long-term client VMS relationships while gaining new ones due largely to our increased speed and productivity.”
Results: More VMS CLients, Higher VMS Revenue
Overall scorecard increase in 6 months (+262%)
growth in candidate acceptance
Response speed dropped from 7+ days to less than 12 hours