12 Aug How FWD Reduces the Risk of Bad Hires with Talegent
FWD Life Insurance Corporation is the insurance arm of Pacific Century Group in Asia.
With offices in Hong Kong, Macau, Thailand and the Philippines, FWD is a fast-growing contender in the Asian insurance industry. The company is presently focused on creating fresh customer experiences supported by leading digital technologies and has expanded their product offerings – ranging from premium life insurance to wealth and financial planning services.
Fast growing companies like FWD encounters volume applications on a daily basis. This means that it needed a standardized screening and selection process which was not only fast but could also effectively weed out unsuitable candidates while also identifying those with the highest potential to succeed.
FWD teamed up with Talegent through our Philippines partners at TalentView to design an assessment program using our comprehensive assessment solutions suite. In standardizing its recruitment process, the company formulated an 8-step recruitment tunnel and injected online assessment in the early phase as a screening and selection tool. Talegent Reports of candidates who passed were then used as reference tools in the succeeding phases.
Concurrently, FWD completed a series of internal benchmarking studies to replicate the profile of top performers, starting with Financial Solution Consultants (FSC) as these were expected to have the highest volume applications.
From the FSC benchmarking study, one core competency and two cognitive abilities emerged as critical to excelling in the FSC role: Judgment, Numerical Reasoning and Verbal Reasoning. Recommended minimum passing scores were also identified for 22 other competencies. Since assessments happened online and detailed candidate reports were generated instantly, possessing volume applications was done with relative ease and speed allowing FWD to close its open positions within their requirement timeframe.
By leveraging Talegent for both the online assessments and benchmarking studies, FWD was able to standardize and shorten the process, hire the best talents, and save on recruitment budget. Eunice Mendoza, Bancassurance Recruitment Specialist at FWD, remarked:
FWD streamlined its recruitment process by using Talegent assessment solutions from Day 1 – resulting in a seamless candidate experience while promoting FWD’s employer brand. More importantly, the company stayed true to its focus of supporting business goals with leading digital technologies.