About the Customer
AmTrust Financial Services, Inc., is a multinational property and casualty insurance company headquartered in New York City. Their mission is to grow profitably by offering their customers the best service experience, driven by innovation, transformative technology, and excellence in data analytics. Through more than 40 acquisitions, AmTrust has become one of the largest property and casualty insurers in North America, with a specialty in small commercial business, and is a growing presence internationally.
Scope and Challenges
AmTrust struggled to manage their internal candidate workflows and sourcing strategies. Their team relied on third-party staffing agencies to recruit new hires, resulting in over $15 million in spending to fill 75 percent of their open positions.
Looking to cut down on agency spend, they began to consider their pre-existing HCM system, Workday, as a talent acquisition solution. As a solution that is built with post-hires’ needs in mind and hiring managers in control, the team felt that Workday left recruitment and the candidate experience at the bottom of the priority list. “We were building out a recruitment function within the company and we wanted a platform that was easy to use and a system that offered an impeccable candidate experience,” said Kimberly Bowen, Vice President of Talent Acquisition.
With their recruiters stuck juggling disparate systems and manual data entry, AmTrust’s hiring workflows were often delayed - ultimately leaving requisitions vacant for 80 days or more. As jobs remained vacant and third-party expenses added up, AmTrust realized it was time for a change.
Outcome and Implications
While Workday did not meet their recruitment needs, Workday was still AmTrust’s trusted payroll and HR provider, making it imperative to have a talent acquisition platform with robust integration capabilities. After using staffing agencies for so long, they were ready to simplify their recruitment lifecycle and bring their recruitment in-house but needed reinforcement from a talent acquisition platform that genuinely knew the space.
By choosing iCIMS, AmTrust has simpler, savvier candidate workflows that both recruiters and post-hire stakeholders can use to drive operations, which contributed to increasing their talent pipeline from about 1,000 to 8,000 candidates. Additionally, their time-to-fill drastically decreased by more than 50 percent - down to a manageable average of 35 days for their business – impacting their hiring costs with a savings of approximately $8 million. Although the decision to move forward with iCIMS was multi-faceted, iCIMS’ powerful integration capabilities allowed AmTrust to both prioritize their recruitment needs and integrate their new talent acquisition platform with Workday. This ensured the data they’d gather throughout the application and onboarding process seamlessly transferred to their HCM system.
“We wanted a platform that was easy to use and a system that offered an impeccable candidate experience." Said - Kimberly Bowen, Vice President of Talent Acquisition.
"We chose iCIMS to streamline our recruitment strategy because we needed a system that understood our modern-day recruiters and prioritized recruitment. We’ve automated several stages of our recruitment lifecycle and it has allowed us to be far more strategic and consultative. Previously, we would throw everything to the wall and hoped something would stick. With iCIMS and their Workday integration, AmTrust has a holistic view of their hiring efforts, putting the leadership team in a better place to share and implement strategic recommendations" Said - Kimberly Bowen, Vice President of Talent Acquisition.
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