In today's competitive landscape, attracting and retaining early-career talent is a top priority for many organizations. However, the challenge of reducing turnover and reneged offers can hinder hiring plans and incur significant costs. This is a story of how a renowned Fortune 50 healthcare company leveraged Abode to revolutionize their early-career talent engagement strategy. By adopting Abode’s all-in-one platform, this organization achieved an impressive 60% reduction in reneges, resulting in cost savings of over $1.5 million. In this article, we will explore how Abode transformed their early-career engagement process, leading to remarkable cost savings and improved hiring outcomes.
The Challenge: Reducing Reneges & Recruitment Costs
Prior to implementing Abode, the company relied on traditional, manual methods of candidate engagement, mainly emails and Excel spreadsheets. Information was kept in/logged across multiple places, which fell short in terms of effectiveness and efficiencies.
As a result, the company had a renege rate of 25%. This amount of unexpected turnover not only disrupted their workforce planning and team morale, but also incurred expenses around last-minute rehiring and rescheduling. Recognizing the need for a more streamlined and powerful solution, the company turned to Abode.
The Partnership: Abode Provides a Transparent, Engaging Candidate Experience
After evaluating several other solutions, the company chose to partner with Abode due to its cost-efficient philosophy, functionality to execute their strategy, and its ability to organize and segment large data sets.
By transitioning to Abode’s integrated features (Journeys, Discussion Boards, Candidate Directories, Resource Center, to name a few), this Fortune 50 company completely transformed their early-career engagement efforts, creating a seamless and exciting candidate experience. On the backend, the UR team now runs more efficiently as all information is housed in a single platform, reducing human error, eliminating reliance on spreadsheets, and ensuring cohesion throughout the hiring and onboarding process.
The end result? This company reduced their renege rate from 25% to 10% in just 12 months.
Inform & Empower
Abode’s all-in-one platform allowed the company to deliver essential resources and information to their early-career groups at scale. The company was able to repurpose and reuse existing content, such as onboarding documents, event details, surveys, housing guides, checklists, and more, directly within Abode.
For candidates, these resources were available in one place (no more cluttered email inboxes or missed messages!), and ensured that important information was easy accessible, setting them up for success as soon as they accepted their offer.
"Abode's platform revolutionized how we deliver essential knowledge and resources to our early-career talent. By utilizing Abode, we could streamline the onboarding process, ensuring that our new hires had access to all the information they needed to hit the ground running. It made a significant difference in their success and satisfaction within the organization." - Talent Development Manager
Create & Encourage Connections
To encourage candidate connections and build community, the company also utilized Abode’s forums and directories. In addition, they took advantage of Abode’s bi-directional abilities to share, upload, and download documents, further establishing the UR team as a helpful, responsive resource. For this company, engaging early-career talent was made fun, easy, and streamlined with Abode.
"Abode transformed the way we built connections among our early-career talent. The candidate forums and directories provided a platform for our new hires to engage with one another, share experiences, and build relationships even before their first day. It’s the best platform we’ve ever used for building community." - Recruitment Lead
Data-informed Decision Making
Reducing a renege rate from 25% to 10% didn’t just happen overnight: the company harnessed Abode’s robust analytics and reporting capabilities to understand, analyze, and iterate on their engagement strategies. These insights, coupled with the partnership’s data-driven approach, allowed them to proactively address turnover and continuously enhance the engagement experience for future cohorts.
"Abode's analytics and reporting capabilities were game-changers for us. We gained valuable insights into our early-career engagement strategies, identifying areas for improvement and fine-tuning our approach. This data-driven optimization helped us create a more effective and efficient engagement process, resulting in better outcomes and drastically fewer reneges." - Talent Operations Specialist
The Impact: Over $1.5 million saved
This Fortune 50 company jumped at the opportunity to revamp their early-career experience, implementing a solution that provided unique opportunities to connect candidates to one another, build community, streamline communication and expectations, and better predict and prevent candidate turnover.
The result?
Implementing Abode achieved an impressive 60% reduction in reneges, an estimated cost savings of over $1.5 million, and more than 600 hours saved for their team.
For organizations striving to optimize their early-career engagement strategies, attract and retain top talent, and achieve better hiring outcomes, Abode provides a powerful solution tailored to the demands of the modern workforce. With Abode, companies can inform and empower their early-career talent, foster meaningful connections, and optimize their strategies based on data-driven insights.
