Impact
1900+ auto-generated reports containing real-time insights generated weekly for stakeholders
25 man-hours saved per week in SAP data extraction and manual data cleaning
200 man-hours saved per month in data analysis and interpretation
Business Challenge
Difficulty in managing high attrition, firefighting operational disruptions, an inefficient, time-consuming and costly recruitment process due to traditional reporting
Daily, the bank has anywhere between 8000 to 11,000 vacant positions with only 3-5% closures. Recruitment is a continual activity which is why the bank required an effective analytics solution to fast-track their hiring process at an optimal cost.
Onboarding talented resources in the expected timeframe was a major challenge for the Talent Acquisition Team. They were facing difficulties in meeting the recruitment timelines and managing their costs efficiently.
Additionally, monitoring and optimizing important KPIs like Vacancy Closure TATs, Offer vs Hire Ratios, Quality of Hired Employees, Cost Per Hire, Attrition and Retention Rates, was a tedious task.
The cost of recruitment was on the rise but the ideal option for sourcing talents with specific skills and experience, required for respective job roles, was difficult to identify.
Meanwhile, though data was abundantly available, transforming it into actionable insights required manually extracting data from the SAP system, analyzing and creating personalized reports for each level, proved to be extremely time-consuming.
As a result, critical hiring decisions were either delayed, dismissed, or made on gut instinct.
Issues Identified
- Lack of data-driven decisions made by business executives due to dependency on data experts to extract meaningful insights
- Unavailability of personalized reports for top management and other levels
- Data extraction from the SAP system
- Manual effort in cleaning and structuring the extracted data
- Lack of standardization in the way data was perceived and decisions were made
- Difficulty in making relevant data available across the organization - due to time taken, cost incurred, and the need for data experts - Considering there are 5000+ branches across the country, reports for which are sent to Cluster Heads, Circle Heads, Regional Heads, & Vertical Heads of the bank i.e. around 600 people in total
“Phrazor has immensely benefited us through fast-track reporting and helped our recruitment team save a significant amount of time and effort, by making standard information available to all, at the click of a button. With Phrazor, we are providing information transparency and real-time insights through reports to all the stakeholders.’’
- Ranga Subramanian | Head - Talent Acquisition
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Company Overview
HDFC Bank is a leading private bank in Asia with a countrywide distribution network of 5000+ branches and 13,500+ ATMs in more than 2,700 cities. It operates in a highly automated environment and also relies heavily on its workforce of 100,000+ employees across regions.
Industry
Financial Services
Function
Human Resources
Use Case
Recruitment Performance Report
