A two-pronged approach to staffing has enabled the health provider to hire more people at a cheaper rate, paving the way for rapid growth. By streamlining its recruiting team, UnitredHealth saved about $1 million in overhead in the first year alone.
The temporary staffing provider reverses declining revenue by investing in a training program that makes industry-specific experts out of its workers. From 2001 to 2004, EmployBridge was able to increase business by $55 million using 25 percent fewer sales people.
The popularity of virtual career fairs has grown in part because companies have grown comfortable with using online recruitment tools—such as job boards and social networking—and are willing to be more experimental.
Employers unfamiliar with referral programs can inadvertently create an HR phenomenon known as inbreeding, which occurs when companies continuously recruit candidates that are virtual clones of the existing workforce population.
The program does not grant job protection. Once on leave, individuals are considered inactive employees and their benefits are on hold. But the program provides a formal way for employees to maintain a presence with the nation’s fourth-largest bank.