What problems did GE Money face with its talent acquisition process?

Before 2001, GE Money's staffing process was decentralized, inconsistent, and slow. This resulted in variable candidate quality, an average cost per hire of over $8,000, and a time-to-fill of more than three months.

How did GE Money improve its recruiting process?

GE Money partnered with recruitment process outsourcing (RPO) provider KellyOCG to launch a revamped, centralized staffing model. This new approach included a dedicated team, a custom application website, and standardized screening methods.

What is Recruitment Process Outsourcing (RPO)?

Recruitment Process Outsourcing (RPO) involves a company delegating its recruitment functions to an external provider. In this case, GE Money utilized KellyOCG as an extension of its own HR team to manage talent acquisition.

What were the goals of GE Money's new talent acquisition strategy?

The long-term goals were to create an efficient, cost-effective process for acquiring quality talent, implement robust metrics for performance analysis, and maximize process performance using LEAN methodologies.

GE Money’s Talent Acquisition Overhaul: A Case Study

This case study outlines the framework, processes, and tools used at General Electric’s GE Money division to overhaul its executive talent acquisition.

The Challenge: An Unsustainable Staffing Process

In 2000, GE Money Americas (formerly GE Consumer Finance) faced significant staffing challenges common to many large organizations. The company, a leading provider of banking and credit services, recognized its process was unsustainable.

Key issues included:

A decentralized staffing process
Inconsistent interview practices
Variable candidate quality from a small pool of colleges
An average cost-per-hire exceeding $8,000
A typical time-to-fill of over three months

The Solution: A Strategic RPO Partnership

After evaluating multiple vendors, GE Money Americas selected KellyOCG, a recruitment process outsourcing (RPO) provider, to help reform the struggling staffing function. The decision was based on the quality of KellyOCG's people, who would serve as an extension of GE Money’s own HR team.

The partnership launched a revamped outsourcing model in early 2001, moving from a decentralized and inconsistent system to a centralized, standardized one.

Implementing a Centralized Model

The redesigned solution was built around a centralized staffing process and a dedicated support team. This shift included several key enhancements:

A customized candidate application website: To streamline the application process.
Standardized screening methods: To ensure more thorough vetting and enhance candidate quality and service levels.

This partnership between GE Money Americas and KellyOCG addressed the critical "people" component required to succeed in the global competition for talent.

Long-Term Goals for Talent Acquisition

The strategic goals for GE's new talent acquisition programs focused on creating long-term, sustainable results. The objectives were:

To ensure an efficient and cost-effective talent acquisition process that identifies quality talent and builds a robust talent pipeline.
To provide robust metrics reporting for regular analysis of process efficiencies, waste, quality, time, and satisfaction.
To maximize the performance of the recruitment process and HR professionals through the utilization of LEAN methodologies.

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GE Money: Talent Acquisition