Clare Eades Financial Services, Case studies, Digital...
Miller Insurance Services is a leading insurance broker operating in all the international markets and at Lloyds of London.
Previously, Miller worked with 5 agencies who supplied both contract and permanent candidates to its IT and Business Change teams. Typical margins were running at 22% and on average it was taking 3 months to hire for roles.
Miller needed to find a more effective hiring solution that would allow them to make cost savings and reduce the time to hire. Our proposal was to act as Managed Agency for all business change and technology roles and to own and exclusively manage the recruitment process from briefing to successful completion.
The Venquis Managed Agency solution uses our expertise and market knowledge to effectively streamline a client’s processes. We manage the candidate sourcing and screening, reduce wastage by finding best fit talent, improve hit ratios, and increase candidate coverage.
As Managed Agency, Miller submitted all business change and technology roles to Venquis to oversee. Our SLAs allowed a four week exclusivity to work the role but if a vacancy had not been filled at the end of the agreed four week period, a progress review would be undertaken. At that point Venquis would send the role to the 2nd tier supplier list, a process completely managed by Venquis, with no inconvenience to Miller. The use of a second tier guarantees the best service to the client, as it allows the broadest possible market reach when required. The second tier constitutes a pre-selected number of specialist recruitment agencies, often including agencies the client has worked with previously. Their use is at no extra cost to the client.
The Value to Miller
Streamlined, best practice process put in place featuring:
- A dedicated account delivery team focussed solely on Miller
- Provision of one point of contact both for contract and permanent
- Quarterly review process
- Real time bespoke reports detailing performance against our agreed SLA
- Regular Venquis presence on site as agreed to facilitate interview processes
- Job spec writing
- Interview training for hiring managers against Venquis Business Change competency framework
- Centrally managed contract extension process
- Reduction of recruitment sales calls to Miller hiring managers – all enquiries handled through Venquis and market aware of the agreement
- Comprehensive understanding of Miller brand – environment, projects, technological landscape, hiring managers, challenges, process
- More positive candidate experience, increasing Miller’s competitiveness within the market
- Risk reduction due to centrally operated process
- Payment process - one timesheet to authorise per hiring manager for all contractors in his / her remit, single consolidated monthly invoice
- Reduction in time to hire:
- 30 days all vacancies
- contract 13 days
- Total Cost Saving to Miller: £220,000
Benefits to Contractors
- Auto self-billing for contractors – one-click secure authorisation process reducing time and improving accuracy
- Christmas placement drinks and regular activities including lunch following placements
The Client’s Verdict
“Miller has recruited Business Change resources from Venquis since early 2012. The service from Venquis has always been of a very high level with all vacancies filled within 4 weeks which is an impressive achievement within the London Insurance Market. As a further indication of Miller’s overall satisfaction with Venquis, we entered into a Managed Agency relationship with Venquis in 2013. By giving Venquis exclusive access to all Business Change vacancies, Miller has reduced our overall costs of recruitment and further leveraged the great service that Venquis provide. I would have no hesitation in recommending Venquis to any other company in the London Market.”
Head of Business Change, Miller