How Fidelity Built a Data-Driven Recruiter Capacity Plan and Revamped Referrals
To keep pace in the changing labor market and adapt to increased hiring demand, Fidelity leveraged Veris Insights’ data to prioritize their most pressing needs and resource gaps. By working in close partnership with Veris Insights, Fidelity developed a strategy to alleviate recruiter burnout, streamline current processes, and lay the foundation for future recruiting priorities.
Mitigating recruiter burnout
Streamlining Fidelity's employee referral process
Aligning on future recruiting priorities
Mitigating Recruiter Burnout
Fidelity leveraged Veris Insights’ Candidate Pulse data on recruiting recruiters to identify capacity gaps within their current operations and address issues around workloads and burnout — specifically, around recruiter requisition loads. By strategically allocating resources and redefining their success metrics around requisition loads, Fidelity developed a strong capacity plan that allowed them to invest more directly in the career development of their recruiters.
1 in 3 recruiting professionals reports that stress interferes with their productivity at least weekly
[Veris Insights’ data] helped us understand, ‘What is a real manageable load?’ …It’s making sure that we capacity plan, but also that we invest in our recruiters’ career development. We don’t want them to just be churning and burning requisitions. We want them to be able to develop as TA professionals, and ultimately, well-rounded Fidelity associates.
Streamlining Fidelity’s Employee Referral Process
Fidelity used Veris Insights’ employer benchmarking data on employee referral programs to centralize their internal referral process, standardize their bonus structure, and increase coordination of efforts across the organization. By streamlining their employee referral program and documenting new processes, Fidelity increased the effectiveness of referrals, allowing them to focus more of their attention and energy on enhancing both the employee and candidate experiences.
92%
of companies use an employee referral program (ERP) as part of their recruiting pipeline
70%
of companies use the number of total referrals as a metric to assess the success of their ERP
Your research really helped supplement and add to our ultimate recommendation that we took to our HR leadership team around our desire to both centralize and coordinate the [employee referral] process.
Aligning on Future Recruiting Priorities
After attending the Experienced Recruiting Council Annual Members Meeting in May, Fidelity worked closely with their service lead to expand their relationship with Veris Insights as a strategic partner. By taking advantage of additional service offerings — including a live candidate journey workshop — Fidelity was able to derive the most possible value from their membership and ensure a continued, data-driven approach to navigating the fast-evolving labor market.
We asked our service lead, ‘Do these feel like the right priorities given your vast research experience?’ I view that strategic partnership and feedback as super helpful in navigating these unprecedented times… I was also really impressed with the membership. The caliber of the organizations, the people, the dialogue… That has been incredibly valuable.
– Kirsten Kuykendoll | Head of Talent Acquisition, Fidelity Investments
