Implementing a returning worker program at a global bank
Summary
Alumni redeployment - an untapped sourcing channel for talent
The returning workforce of company alumni is an untapped source of talent.
With 40% of employees say they would consider going back to a company where they previously worked, our customer, a global financial services company, quickly realised the potential of this talent pool and cost savings that could be associated with tapping into it.
After our analysis of the active contingent headcount that was being managed through their global MSP programme, our customer wanted to tap in with:
- 65% of the active headcount being newly sourced talent
- 29% returning via the supply chain
- 6% returning via a payroll supplier
The challenge
Building a programme with the right technology
As our customer’s business mix evolved, the talent needs also needed to evolve and be in line to drive the organisation- wide change.
How we helped
Implementing a technology solution to hire returning workers
Our team got to work on building a returning worker programme for our global customer.
We worked with our technology partner to co-build a mobile-friendly, automated recruitment tool.
With the use of SMS technology and AI, our team also built in a full engagement lifecycle for the talent pool.
Another key element of the implementation was the hiring of Talent Consultants in addition to the wider MSP programme team.
The Talent Consultants job is to constantly engage with the talent pipeline and proactively follow up with the Pontoon Direct programme team to share top candidate profiles, work closely with the separate lines of business across the programme to build on their staffing strategies and ensure the returning workers are part of all team’s sourcing strategy.
The Talent Consultants also work closely with our technology partner and our payroll supplier to ensure returning workers are onboarded correctly and managed throughout their assignment.
Impact
A clear savings opportunity
Our solution helped realise immediate savings for our customer.
The average professional contractor returning through our programme saved over $17,000 annually and $2m in total.
The solution also increased the speed-to-hire and decreased the time needed for each worker to re-adapt to the culture and processes, allowing for immediate results and increased productivity.
