Opportunity
The largest member credit union in the United States was at a critical juncture grappling with the complexities of scaling its Member Support Contact Center to keep pace with surging customer demand. As the volume of member inquiries grew, so did the need for an expanded workforce, putting immense pressure on the credit union's existing resources. The internal hiring team, responsible for managing the recruitment and interview process, found themselves stretched thin. Their involvement in hiring pulled them away from their core responsibilities, creating operational bottlenecks and contributing to a rise in attrition rates.
Recognizing the need for a more efficient and scalable solution, the credit union sought a trusted staffing partner capable of delivering a high volume of qualified candidates quickly and seamlessly. They required a partner who could implement a Managed Talent model, allowing them to build a strong and sustainable talent pipeline while minimizing disruption to their ongoing operations. The goal was clear: to find a partner who could not only meet their immediate staffing needs but also provide ongoing support through performance coaching and development, maintaining high service standards.
Solution
In February 2023, Tential partnered with the credit union to address their staffing challenges through its Managed Talent Solutions as a Managed Service Provider (MSP). Tential’s approach began with an in-depth analysis of the client’s needs, including visits to their contact center locations. By shadowing current Member Service Representatives and observing the work culture, Tential developed a comprehensive “Candidate Success Profile” to ensure the recruitment of top-tier talent.
Tential implemented a class-based hiring and onboarding process, which allowed for efficient scaling and ensured consistency in training and integration of new hires. Employees were brought on in cohorts, with Tential managing all aspects of the hiring lifecycle, from recruitment and onboarding to ongoing performance coaching and development. This included:
- Delivery Manager: Oversaw recruiting and support teams to ensure seamless operations.
- Engagement Success Manager: Managed onboarding and HR-related issues for new hires, ensuring smooth transitions.
- HR Team: Handled onboarding processes, including background checks, employment verification, and credit processes.
- Recruiting Coordinator Team: Scheduled interviews and supported new hires through the security process, including badge coordination and shift assignments.
- Recruiting Team: Focused on candidate recruitment and interviews, achieving a remarkable 92% interview-to-offer ratio.
By May 2023, Tential successfully provided the credit union with its first training class of 50 employees. This initial success led to the credit union removing their internal hiring team from the interview process, entrusting Tential with full hiring authority and ongoing performance management.
As demand grew, Tential demonstrated its ability to scale rapidly, increasing the average class size to over 100 hires per month, with peak months seeing over 200 hires. Tential’s Managed Talent model allowed the credit union to adjust hiring needs flexibly, with projections reaching 1500+ hires in 2024.
To further enhance support, Tential deployed Client Success Leads to work onsite at the contact center locations. These Leads collaborated closely with the credit union’s supervisors, offering coaching and counseling sessions to ensure contractor retention and satisfaction, maintaining high performance standards and alignment with the credit union’s business objectives.
Additionally, Tential introduced Quarterly Business Reviews (QBRs) to present data on hiring and retention as well as provide market intelligence, ensuring transparency and continuous improvement in the partnership.
Results
The partnership between Tential and the largest member credit union in the US yielded impressive results, including:
- Efficient Scaling: Tential successfully scaled operations to meet the credit union’s growing needs, providing a flexible Managed Talent model that adapted to peak and low-demand months.
- High Recruitment Success: Achieved a 92% interview-to-offer ratio, leading to the credit union’s trust in Tential to handle the entire hiring process, from candidate selection to ongoing performance coaching.
- Increased Hiring Capacity: Grew from 50 hires per month to over 200 in peak months, with a projected 1500+ hires in 2024.
- Enhanced Support: Onsite Client Success Leads improved communication and support between Tential, the credit union’s supervisors, and the contractors, ensuring a smooth and efficient operation.
- Improved Retention: Tential’s proactive approach to coaching, counseling, and regular business reviews contributed to higher retention rates and overall contractor satisfaction.
Tential’s strategic and data-driven Managed Talent approach not only addressed the credit union’s immediate staffing needs but also laid the foundation for long-term growth and success. By partnering with Tential, the credit union could focus on its core operations while trusting a reliable partner to manage its contact center staffing and performance management challenges effectively.
At Tential, we’ve proven our expertise in Managed Talent acquisition and management, delivering exceptional results that large financial institutions can count on. Trust us to be the partner you need to scale your operations and drive your success.
Be a part of the success story. Contact us today!
