Success Story
With over 300,000 employees, CVS Health is the nation’s premier health solutions company, improving the health of America. CVS is trailblazing the charge on AI and applications of data-driven technologies in health care.
The History
We have been working with Aetna since July 2017. Within the first four months of our engagement, we were able to submit and place more candidates than the other six agency partners combined. This led us to becoming their top-performing Analytics recruitment partner. After the CVS-Aetna merger, Hop successfully placed hundreds of full-time, direct-hire Data mScientists, Analytics Consultants, Data Engineers, and Data Product Managers from junior individual contributors to executives.
Challenges
Candidate’s market and a shortage of Data Science talent
According to LinkedIn in 2022, out of 400K US-based Data Science jobs, there were only about 100K Data Scientists, indicative of a candidate driven market. Due to this, the start of 2022 was met with offer decline percentages from 46% to 56%. However, this started tapering off as the market switched back toward the end of the year.
High-volume hiring & bottlenecks in the internal HR processes
Due to a lack of recruiter capacity, CVS’s internal HR process was very delayed as we tried to scale up the submissions. In responding to this pain point, Hop signed a retainer agreement with CVS Health. This resulted in us owning the end-to-end hiring process including, screening, scheduling, coordination, salary negotiations, and closing of candidates.
Key Results
Our partnership with CVS Health has proven to be successful, yielding tangible results in diversity, quality of recruitment, speed, and scale. Here is a detailed account of our accomplishments.
Quality Metrics
1:10
Submission-to-offer Ratio
Speed and Scale
106
Data Scientists hired
Diversity
72
Female Data Scientists hired
Quality Metrics
We significantly improved the submission to hire ratio from 1:25 to 1:10. This improvement reflects a more streamlined and targeted recruitment process that efficiently matches high-quality candidates with suitable roles.
Moreover, we managed to increase the percentage of candidates advancing from submission to the technical interview and from the technical interview to the onsite interview over time. In August 2022, 50% of candidates successfully moved from submission to the technical interview, while 42% progressed from the technical interview to the onsite interview.
Performance Metrics
We present below a detailed table of our recruitment metrics over the course of our partnership with CVS Health. These figures demonstrate a consistent trend of quality recruitment, with a steady number of hires every month.
| Month | Submissions | Technical Interviews | Onsite Interviews | Offers | Hires |
|---|---|---|---|---|---|
| Aug-21 | 53 | 23 | 10 | 4 | 3 |
| Sep-21 | 217 | 80 | 52 | 14 | 10 |
| Oct-21 | 180 | 42 | 41 | 11 | 6 |
| Nov-21 | 224 | 103 | 61 | 19 | 13 |
| Dec-21 | 319 | 136 | 72 | 20 | 12 |
| Jan-22 | 261 | 135 | 53 | 13 | 7 |
| Feb-22 | 213 | 111 | 45 | 16 | 7 |
| Mar-22 | 215 | 121 | 53 | 17 | 9 |
| Apr-22 | 72 | 44 | 14 | 5 | 2 |
| May-22 | 87 | 46 | 21 | 4 | 2 |
| Jun-22 | 201 | 113 | 40 | 11 | 8 |
| Jul-22 | 268 | 168 | 47 | 5 | 5 |
| Aug-22 | 242 | 122 | 51 | 10 | 8 |
Speed and Scale Metrics
“I have had an opportunity to engage with HopHR as a hiring manager in two different organizations. HopHR has a unique ability to quickly understand the needs of the roles and to provide high-caliber candidates. HopHR also expertly navigates all stages of the candidate experience, making it easier to engage with the candidates and close out offers.”
Conclusion
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