Success Story
How we helped a Singapore Fintech grow by reducing interview time by 90%
Challenge
Faced difficulties in attracting the right people
Grasshopper is a home-grown fintech and proprietary trading company with over 60 employees from more than 13 countries, including France, Portugal, and Ireland.
It has ambitious growth plans, and is seeking to enter new markets and trade new products. However, they were struggling to hire the people they needed to meet their targets. They were not attracting enough quality candidates, and were spending way too much time and effort interviewing (but often not hiring) candidates.
Solution
Screening steps improvement
While the main goal was to reduce the number of man-hours per hire, we first developed a more detailed recruiting process, from candidate attraction and screening through to interviews. Interviews could be more focused if other aspects of the selection process were moved to earlier steps. For example, by using an AI chatbot powered by Impress.AI, more information could be collected on each candidate even though man-hours spent on screening was reduced by 29%. Another key move was to shift screening steps with a low success rate earlier in the process. This meant that less time was wasted on candidates that will ultimately not be selected due to a lack of technical skills, for example.
Interviewer training
For the actual interviews, we identified that one root cause was the lack of confidence and experience among the interviewers. This resulted in them seeking ‘safety in numbers’, with 3 interviewers sitting in on one interview, and spending up to 1.5hrs with each candidate. We, therefore, ran a series of interviewer trainings where we showed the interviewers what aspects they needed to focus on, and how they could find the information they needed through behavioural questioning. The interviewers then did some role play and found out more about their own particular strengths and weaknesses.
Employer branding
Another aspect that we worked with Grasshopper on was talent attraction. Despite their success, they had largely flown under the radar of the general public by design, given the nature of their business. We used our TeamSight culture diagnostic to identify unique elements of their company culture, and helped them build an employer brand proposition around it.
Results
From 192 man-hours per hire to just 17!
Improvement in interviewing experience
Leveraging unique elements of company culture to attract 4X more applicants
