FWD Life Philippines enhances
top-of-the-line candidate experience
CHALLENGE
FWD Life Insurance Corporation (“FWD Life”) is the insurance arm of Pacific Century Group in Asia, with offices in Hong Kong, Macau, Thailand, Indonesia, and just recently, the Philippines. Launching local commercial operations only in 2014, FWD was quick to rise as a strong contender in the Philippine 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.
As the Philippines’ fastest-growing life insurance company, 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 selectively weed out the wrong candidates for the role while also identifying those with highest potential to succeed.
SOLUTION
FWD partnered with TalentView to design an assessment program using the Talegent Assessment Solutions. In standardizing its recruitment process, the company formulated an 8-step recruitment funnel and injected the online assessment in the early phase as a screening and selection tool. Talegent Reports of candidates who passed were then used as reference in the succeeding phases.
Concurrently, FWD completed a series of internal benchmarking studies to replicate the role of top performers, starting with Financial Solution Consultants (FSC) as these were expected to have the highest volume of applications.
FWD Recruitment Funnel
RESULTS
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.
SCREENING
PROCESS WAS
REDUCED FROM 15
BUSINESS DAYS
TO 5 DAYS.
Recommended minimum passing scores were also identified for 22 other competencies. Since assessments happened online and detailed candidate reports were generated instantly, processing 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.
TalentView team is always accessible, providing insights, and best practices that we were able to integrate into our current strategies. The cognitive ability suite plus the PATH Personality Questionnaire are both very comprehensive tools and have contributed greatly to achieve our metrics
- Eunice, Recruitment Specialist
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