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Form ID:195


 

Case Studies

New York


Palm Mason's New York office is based in the world famous financial district of lower Manhattan. Under the leadership of Nathan Winters our Americas Sales Director the office coverage is focused on clients across North America.

Challenge


Palm Mason America’s client a tier one investment bank had built a distrust with the local markets vendors due to a history of unsatisfactory results on quality and understanding. The client traditionally experienced a high degree of turnover during the first 90 to 180 days of employment. This high and quick turnover rate proved detrimental to its client’s business and lost time due to the constant need to interview, hire and train new staff members. Every time a new vendor would make bottomless promises and the business would be open as it also wanted to improve its decentralized and unorganized onboarding interviewing / vetting process.

Solutions


In order to ensure satisfaction in our services, we implemented market Intel and surveys for the client to provide regular feedback about its experience and work in line as best possible with HR. This brought the partnership to the forefront of the process as we have done historically in other capacities adding value with other clients. Engaging as a true partner. Palm Mason America’s worked closely with the business’s top performers, hiring managers and executives from multiple business units to understand the company culture and generate target candidate profiles which may have not necessary been considered before, truly helping educate them on the market. Palm’s specialist vertical sourcing team created a multichannel, strategic sourcing plan, which was also prefaced with extensive market research, to reduce the quick quit turnover rate, hosting internal recruitment days / evenings and partnering with the country’s top finance and technology universities. With creative and proactive sourcing and screening methods led to a well-built pipeline and a reduced time-to-fill. As always Palm Mason America’s designed an efficient and streamlined recruitment process solution including interview scheduling and offer management, as well as onboarding processes like pre-employment check coordination. A high-touch approach like this allowed for accurate and real-time reporting capabilities and effective analysis.

Results


Palm Mason America’s built a solid, trusted partnership with the client that continues to grow. We now have made more than 4 times placements in this one group that have niche skill requirements which previously had a ratio of 100 resumes to 20 interviews to no hires . The client’s quit quick turnover rate has been reduced to 2.6 percent, which is half of what it was when the partnership began. Palm Mason America’s has also reduced its client’s time-to-fill to 30 days, which far exceeds the expectation set forth by the service level agreement (SLA).

Requirement


Palm Mason Americas were engaged by a Tier One Investment Bank to supply a niche Production Support Manager within the Electronic Trading space.

Challenges


Due to the niche nature of the role only three Tier One and Tier Two Investment Banks currently have a dedicated Production Support team servicing the specific product and the other Investment Banks had their Development teams provide escalated support. This meant there was a very small talent pool within the Investment Banking sector and the niche nature of the role resulted in the majority of individuals with the required skillset being already known to one another and developers not wanting to provide pure production support. This lead to the further challenge that suitable candidates were not active on typical recruiting tools and resources such as Job Boards and LinkedIn. 

Solution


We had to utilize a number of resources in order to find the successful individual who possessed the required skillset who was not already known by our client.  The successful candidate was sourced through our solid network of existing relationships which delved to a number of degrees in order to create a shortlist of suitable individuals. These individuals came from a number of Buy Side organizations which although did not have dedicated support teams for the specific product they had individuals who possessed the required business knowledge and due to the smaller size of the company had greater exposure to the specific product than that of those within larger Investment Banks.

Requirement


Palm Mason group was engaged by a tier 1 US investment bank on a large recruitment drive to find up to 10 front office C++ risk developers to build out a new platform as required by new Fed regulations to report CVA Risk

Challenges


Due to the complexities of the work and specific CVA business knowledge required very few candidates submitted by agencies were selected to the next stages and over 200 candidates were interviewed with only a handful of offers made

Solution


Palm Mason leveraged our extensive financial services network and were able to screen a number of candidates and technically test them and identify 7 candidates, 2 of whom got offered a position.