Maximizing ROI: PwC's Transformative Journey with Automated Hiring Solution

Organization Profile

PricewaterhouseCoopers (PwC) is a multinational professional services network 
headquartered in London, United Kingdom. It is one of the Big Four accounting firms and offers services in assurance, advisory, tax, and consulting to clients around the world, with offices across the globe.

Challenge

PwC's hiring process aimed to achieve greater efficiency and standardization, targeting a reduction in manual effort hours and the overall time required to hire new employees. This objective stemmed from the need to manage a large volume of candidates applying for various roles across different regions. Ensuring a consistent and streamlined hiring workflow was essential to handle the diverse applicant pool effectively. By minimizing manual interventions and accelerating the hiring timeline, PwC sought to enhance operational productivity and maintain a high level of accuracy and fairness in its recruitment practices.

Solution

PwC tackled its hiring challenges through a multifaceted approach.

• Integration with Workday: This was the first step, the Workday integration 
  enabled a bi-directional flow of data for efficient candidate tracking, 
  onboarding, and workforce planning.
  
  
•  Candidate Screening: Leveraging advanced algorithms, PwC implemented 
  automated resume scoring and assessments from Talview, reducing manual 
  effort hours by evaluating candidate qualifications against predefined criteria.
  
  
• Bulk Interview Scheduling: Implemented to facilitate mass live interview 
  scheduling, this solution paved the way for larger recruitment drives.
  
  
•  Standardized interview experiences: For standardizing interviews PwC used 
  Talview's live and on-demand interviews. For an in-depth candidate analysis 
  on-demand interviews were teamed with behavioral insights to give a better 
  candidate-job fitment.

These measures were introduced to ensure consistency and fairness across all 
interactions, enhancing the quality of hiring decisions while simplifying the 
evaluation process for hiring managers and interviewers.

Result

Integration with the new ATS and Talview helped PwC to streamline their hiring process and reduce overall time to hire.

• Reduction in Time to Hire: By automating various stages of the hiring process and standardizing workflows, there was 54% reduction in overall time to hire. Candidates moved more swiftly through the recruitment pipeline, leading to faster placement and onboarding.
  
  
• Improvement in Conversion Rates: The introduction of automated resume scoring and assessments improved the accuracy and efficiency of candidate evaluations, resulting in 12.5% of the total candidate pool converted from candidate lifecycle.
  
  
• Reduction in Manual Effort Hours: With streamlined processes and automated screening mechanisms, PwC significantly reduced the manual effort hours required for tasks such as resume screening and candidate evaluation.
  
  
• Data-Driven Decision Making: By leveraging integrated systems and standardized evaluation criteria, PwC empowered its hiring teams to make data-driven decisions throughout the recruitment process. This enabled more informed offer rollouts and enhanced overall recruitment outcomes.
  
  
• Enhanced Candidate and Panel Experience: With standardized interview processes and digitalized evaluation forms, PwC ensured a consistent and professional experience for both candidates and interview panels. This not only improved satisfaction levels but also contributed to the organization s employer brand.

Conclusion

PwC's strategic initiatives aimed at enhancing their hiring process yielded significant positive outcomes with a strong return on investment (ROI). By integrating a leading ATS, implementing automated resume scoring and assessments, and standardizing interview experiences, the organization improved efficiency and consistency across the recruitment lifecycle. These enhancements led to reduced time-to-hire, increased conversion rates, and 
enhanced candidate and panel experiences. Consequently, PwC achieved substantial cost savings and operational efficiencies, positioning itself to attract top talent and drive organizational growth through a data-driven recruitment approach.