Transforming High-Volume Hiring at Beyond Finance with ModernLoop
Beyond Finance, a leader in debt consolidation services, was founded in 2011 to help individuals eliminate debt and regain financial stability. Over the past decade, the company has experienced rapid hyper-growth, scaling from a few hundred employees to nearly 2,000 across multiple departments, including high-volume roles in sales, customer service, and account management.
Watch the webinar recording where Elizabeth Whitaker, Senior Manager, Talent Acqisition at Beyond Finance shares her secrets to high volume hiring here!
Beyond Finance’s team faced many challenges
- High-Volume Hiring Complexity
Managing up to 1,500 interviews per month across multiple recruiters and locations, created bottlenecks in scheduling and coordination.
- Manual processes
Recruiters relied on multiple tools, including individual scheduling links and spreadsheets, leading to inefficiencies in tracking candidate interviews and managing hiring manager workloads.
- Candidate Experience Issues
High candidate ghosting rates and a lack of transparency regarding roles, benefits, and expectations caused delays and misaligned candidate expectations.
- Recruiter Workload
Administrative tasks, such as scheduling interviews and tracking candidate progress, consumed valuable recruiter time that could be spent engaging candidates.
How ModernLoop became the solution that drove efficiency
To address these challenges, Beyond Finance implemented ModernLoop to streamline high-volume hiring processes and provide better candidate experiences through ModernLoop’s Candidate Portal. Key features and improvements included:
- Centralized Scheduling
Using links that allow candidates to self-schedule interviews with available recruiters or hiring managers eliminated the need for manual coordination and ensured optimal calendar utilization.
- Automated Processes
Features such as automated reminders and interview backfilling saved recruiters time by minimizing manual follow-ups and reallocating interviews seamlessly when cancellations occurred.
- Enhanced Transparency
Beyond Finance leveraged ModernLoop’s Candidate Portal tool to provide detailed role-specific information, including job descriptions, pay structures, benefits, and career pathing opportunities – all within a branded portal. Candidate Portal greatly reduced the need for repetitive recruiter interactions.
- Data Driven Insights
The platform’s integration with Greenhouse ATS enabled real-time visibility into hiring pipelines, helping recruiters prioritize candidates and maintain pipeline health through automated status updates and reminders.
Results
Since partnering with ModernLoop, Beyond Finance has significantly improved its high-volume hiring operations and candidate experience:
- Increased Efficiency: Recruiters saved substantial time by automating repetitive tasks, allowing them to focus on candidate engagement and relationship-building.
- Improved Candidate Experience: Transparency through the candidate portal and more efficient scheduling led to a reduction in ghosting rates, a significant improvement given the scale of high-volume hiring.
- Streamlined Scheduling: Unified scheduling and automated backfilling ensured faster turnaround times and reduced administrative overhead.
- Optimized Processes: Hiring manager interview loads were effectively managed, eliminating scheduling conflicts and enhancing collaboration between recruiters and managers.
- Scalable Hiring: Beyond Finance successfully managed its exponential growth, scaling interview volumes from hundreds to over 1,500 per month without increasing headcount in the recruiting team.