EUROPE
NORTH AMERICA
SOUTH AMERICA
OCEANIA
EAST MIDDLE
GLOBAL MARKETS
ASIA
Case Study
IQM faced significant challenges in attracting and engaging the right talent for their organisation. Most notably:
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Successfully sourcing and engaging with 30 hard to find people over a 6-month period. IQM were able to identify 65% of it’s more generic candidates through existing channels such as advertising for direct applicants but could not access those who worked in more niche environments and were more difficult to identify and engage with.
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The time it took for IQM to hire. This was over 55 days. During this time frame candidates were often lost to competitors or simply lost interest in the opportunity.
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Dropouts. Approximately 20 people dropped out of the IQM recruitment process in 3 months due to their impatience to complete the process or through compensation misalignment.
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CV submission to first interview. Quantum Futures identified through their candidates in process with IQM that the time from initial CV submission to first interview was approximately 14 days. Most active candidates were often interviewing elsewhere during this time frame and their opportunity and employer preferences had been altered.
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The previous IQM Head of Talent had exited the business and no successor had been identified nearly 4 months later. The IQM Talent team required support and training in best recruitment practices and when the newly appointed Head of Talent eventually joined the business, to bring that person up to speed as efficiently as was possible.
EUROPE
NORTH AMERICA
SOUTH AMERICA
OCEANIA
EAST MIDDLE
GLOBAL MARKETS
ASIA
Quantum Futures partnered with IQM to resolve these challenges and developed a strategy with IQM to attract, engage and retain potential candidates throughout their hiring process. Improvements made through the implementation of the strategy included:
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Immediate access to a talent pool of pre – qualified candidates who were already committed to move, to reach the target of 30 people over 6 months. Quantum Futures Identified and engaged with those candidates fitting the IQM profile and ensured their commitment to move to IQM timescales.
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A dramatic reduction in the time that it took IQM to hire through closer candidate management and a streamlined recruitment process that led to a greater control of timescales. Quantum Futures completed regular onsite talent planning meetings with each IQM hiring team to better understand the specific skill sets, experience, attributes, and requirements for every hire for each team. The Quantum Futures team consulted with each hiring manager after every meeting to ensure that only those candidates specific to their requirements were submitted.
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Deeper initial candidate qualification and regular candidate qualification throughout the recruitment process to ensure that the key motivations of the candidate wishing to join IQM remained constantly challenged until they started their role with IQM. Quantum Futures assessed, deep qualified, and managed all direct candidate applications to IQM, ensuring that the presentation of only those candidates suitable to each role and team was made within a 48-hour period after their application. Areas such as relevance to IQM, skills and experience, motivations to move and to join IQM, availability to interview, readiness to move, notice period, other opportunities that they were considering, salary requirements, location suitability and likelihood of joining IQM were assessed and qualified in depth.
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A reduction in the time that it took from candidate CV submission to arranging the first interview from 14 days to 5 days through more efficient candidate selection and engagement processes. Interviews were arranged directly with each respective team after candidate suitability was confirmed. The time from CV submission to initial interview was reduced to under 5 days by sharing a detailed profile of each candidate against the mentioned qualification areas that removed further qualification before interview. Quantum Futures also completed the initial HR stage interviews following positive feedback from hiring managers within 48 hours. Post interview, Quantum Futures was able to identify the other processes that each candidate was entertaining, where IQM ranked in their preference, and manage the IQM offer against global industry salary data for all quantum roles that Quantum Futures had researched and published.
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Access to a Quantum Futures team of talent acquisition specialists able to support the recruitment demands of the business and the IQM teams that were driving the process forward. In the absence of, and during the introduction of a new IQM talent acquisition specialist able to support the recruitment demands of the business, Quantum Futures provided one of their consultants for 2 days every two weeks to work onsite at any location and to consult and support the IQM teams driving the current process forward. IQM had access to the Quantum Futures internal recruitment trainer for 4 days per month for the training of all Human Resources and Recruitment talent within IQM.