Summary
A major acquisition sparked a huge technical hiring push for a fintech leader in the retirement savings plan industry. The client’s internal talent acquisition team simply didn’t have the bandwidth to keep up. The company opted for Tential’s Talent Solutions to take on the hardest-to-fill full-time technology openings. Acting as an extension of the client’s team, Tential devised a creative, cost-effective direct hire strategy that paid off with rapid sourcing of passive, high-quality professionals. Moving talent efficiently through the interview process led to high satisfaction among both candidates and hiring managers.
The Challenge
With the acquisition of a significant industry competitor, the client doubled the size of its retirement division overnight. Now in addition to fulfilling its existing development roadmap, the tech team needed to evaluate multiple recordkeeping systems for potential integration, modification, and sunsetting. In the first two quarters of 2022 alone, the firm needed a strong hiring push to add 35 senior-level team members to headcount. The internal talent acquisition team’s bandwidth was already stretched, moving the task and timeline into the category of nearly impossible.
The Solution
Tential was already supporting the talent acquisition team through contract and contract-to-hire workforce solutions. With the client’s need to bump up the number of scrum teams from 15 to more than 20, Tential recognized the potential to benefit from a focused and highly targeted recruiting approach. Acting as an extension of their team, Tential took on the initial task of filling 10 key positions.
Skill sets ran the gamut of technical and functional roles for a Microsoft-dominant tech stack, including Application Architects, Lead Software Engineers, DevOps Engineers, Business Analysts, Product Managers, SDET/Test Engineers, and more. The openings rolled up to multiple hiring managers, requiring complete coordination between those business decision makers, the TA function, and our dedicated recruiters.
Tential’s consultative, outcome-based approach included:
- Alignment on analysis of talent availability and market rates for remote full-time positions
- A tiered pricing model to make hiring costs more transparent and predictable
- An installment billing schedule to reflect shared risk and milestone achievement
- Full accountability for sourcing, screening, skills testing, and vetting of candidates
Talent Solutions reduced the burden on the in-house recruiting team with a highly targeted strategy to overcome critical talent shortages
The Results
Tential’s workforce solutions and Talent Solutions teams are both known for extensive talent networking, exceptional candidate nurturing, and professional delivery. This engagement was no exception.
In the first six weeks, Tential successfully filled more than half the roles to keep the client’s integration and productivity levels on track. The proof-of-concept approach continues to this day with an expansion of scope based on our demonstrated reduction in time-to-fill and cost-per-hire metrics.
“Tential came to the table with a practical, purposeful strategy to fill the most challenging suite of positions in our rapid expansion plan. As always, they demonstrated excellent communication and a distinct commitment to improving our hiring and business results.”
—Lead Acquisition Partner
