Achieving 50:50 male to female in finance recruiting
After discovering their recruiting pipeline was mostly male, this financial services firm lacked the data, insight, and capability to move the needle on gender diversity.
Headstart created a unique 'fingerprint' with indicators of success, and customized it's match score to screen every applicant with the same framework, with a modern recruiter dashboard and access to much-needed data and insight.
Using Headstart, the firm reduced human bias and made over 50% of their industry placement program offers to females.
Volume and data preventing diversity progress
The financial firm struggled to access data, lacking insight into candidate profiles and the health of their talent pipeline. The team was aware that unconscious bias was affecting the process - hindering the firm from reaching its strategic imperative to improve social mobility.
The early talent team found the pipeline was mostly male candidates, and wanted to trial expanding criterias like degree disciplines to broaden the talent pool. However, the lean team was drowning in unmanageable volumes of applications with an unwieldy, inflexible legacy applicant tracking system.
The overwhelming workload was aggravated by clunky and complicated pipeline management, further restricting progress.
Headstart's unique match score
The project focused on their early careers positions, including interns and analysts in investment banking and advisory.
The process began by translating findings from an initial discovery phase to build an organizational 'fingerprint' - indicators of high-performance - and adjusting the default match score algorithm for their unique needs.
The Headstart match score is a measure of how closely aligned a candidate’s profile is to the role and organization. With this working data model, the early talent team can evaluate a candidate’s experience and achievements in the context of their background, minimising bias in the screening process.
The Headstart platform made it easy for the team to manage high applicant volumes, with built-in automation features and real-time support.
Access to usable data and insight was a big requirement for the team in their software search, and as such can see real-time performance metrics in Headstart.
Achieving gender diversity in finance
The financial advisory firm has achieved incredible efficiency and gender-diversity outcomes as a result of the team’s decisive action on the early talent hiring process - delivering a world-leading approach to improving social mobility within the financial services industry.
The firm's early careers team made 50% of offers to females - 25% over their target. All candidates have been matched to the firm based on their indicators of success, reducing unconscious human bias in the process and ensuring every candidate has an equal opportunity.
Recruiters can focus on more strategic tasks thanks to a unified, easy-to-use dashboard, without being overwhelmed by moving huge volumes of applications through the recruiting pipeline.
The dashboard also alerts the team to diverse candidate drop-offs within the hiring process, allowing them to identify areas for improvement and training. As a result, the team are on the cutting-edge of workforce engagement, inclusive culture and diverse hiring practices.
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