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Customer Success Stories

AmTrust Financial Switches to Best-of-Breed Recruitment, Saves $13M

FOUNDED:
1998

INDUSTRY:
Insurance

HEADQUARTERS:
New York, NY

Total staff:
7,000

IMPACT:
Increased 6 places on Fortune 500 list

iCIMS CLIENT SINCE:
2016

METRICS:
  • $13M eliminated from recruitment spend
  • 7x growth in talent pipeline
  • Decreased time-to-fill by 50%

iCIMS PRODUCTS:
Recruit and Preboard

THIRD-PARTY INTEGRATIONS:
Workday and background screening

PREVIOUS TALENT ACQUISITION SOLUTION:
My Staffing Pro

AmTrust Financial, a multinational property and casualty insurer specialising in coverage for small to mid-sized businesses, was founded in 1998 and expanded rapidly through organic growth and more than 40 acquisitions, becoming a Fortune 500 firm with $6.7 billion in revenue and 7,000 employees across 70 countries.

AmTrust’s manual recruitment processes and disparate HR systems were unable to support its expansive growth. In fact, by 2015, AmTrust was spending $16 million with staffing agencies to source and hire talent and taking more than 80 days to fill open positions, largely due to a lack of visibility into the status of job applications and offers. As Kimberly Bowen, AmTrust’s former vice president of talent acquisition, explained, “We were in the stone age. There was a thought from our internal business leaders that recruiting wasn’t working for them, the recruiting team wasn’t doing all we needed to do to get them good talent - and they weren’t wrong, they couldn’t see it!”

So, in 2016, AmTrust selected iCIMS’ applicant tracking solution over its embedded HRIS solution, Workday’s less expensive recruitment module. Bowen explained the decision, “I didn’t want someone who did this as one piece of their offering. I wanted a system and a provider that was a subject matter expert. I needed to be with a provider where this was all they did. This was their focus – any pounds they made, this is where they were going to get invested.”

$13M SAVINGS IN RECRUITMENT COSTS

700% GROWTH IN TALENT PIPELINE

50% DECREASE IN TIME-TO-FILL

By 2018, Amtrust has saved $13 million, mostly by drastically slashing the use of external staffing agencies. More importantly, AmTrust cut its time-to-hire in half and increased the number of qualified candidates in its pipeline seven-fold. Here’s how:
  1. Delivering a great candidate experience: By requesting only the essential information, such as name, address and phone number, from candidates, Amtrust streamlined its application process.
  2. Configuring for each hiring type: Created three unique career portals for external, internal and agency-based candidates, enabling candidates to move through the entire application process without any recruiters’ manual work effort until a final decision.
  3. Scale globally: By enabling job board listings to be seen by more candidates around the world.
  4. Seamless Workday integration saves time: By transferring candidate and new hire data throughout the entire application process until the completion of preboarding, ensures data accuracy, saves time by connecting the recruiting and HR system.
  5. Reporting drives improvement: Automatically running key reports, specifically time-to-fill, background check status, hires by location, number of daily hires, open/closed requisitions per month and interviews per month, enables recruiting and line Managers to make data-driven decisions, and keeps leadership informed.
  6. Improving productivity: Through iCIMS’ UNIFi platform, recruiters access multiple systems with one login, eliminating the toggling between disparate systems. Additionally, workflow automation, such as notifications every time an action occurs/is required, significantly improves the recruitment team’s productivity.

With iCIMS and Workday seamlessly integrated and recruitment processes built to scale, AmTrust is now focusing supporting its international expansion. As Bowen explains, “We have a great foundation, we’ve accomplished the things we have set out to accomplish as far as the build, now it’s about AmTrust talent acquisition 2.0.”

“We chose iCIMS to streamline the organisation’s recruitment strategy because we needed a system that understood modern-day recruiters and prioritised recruitment. Our candidate experience is a thousand times improved. It enables us to maintain our competitive advantage and move quickly.”

Kimberly Bowen,
former vice president of talent acquisition, AmTrust Financial