Article: Know how Vedanta saved $1Mn in hiring cost

#Talent Acquisition

Know how Vedanta saved $1Mn in hiring cost

Read this case study of Vedanta on how it cracked the code of social hiring using LinkedIn Talent Solutions, and saved USD 1 million in hiring cost.
Know how Vedanta saved $1Mn in hiring cost

Vedanta Resources Limited is a globally diversified natural resources company. It has operations across zinc, lead, silver, oil & gas, iron ore, copper, aluminum, and commercial power. With over 60,000 employees, Vedanta is one of the largest diversified natural resource majors in the world. As an industry leader Vedanta has a technology-oriented approach to growth. 

Challenges:

Vedanta was looking to hire experienced candidates with niche skills to strengthen their Health, Safety, Environment & Security (HSE&S) teams.  They were looking for global talent with 10+ years of experience, specific qualifications in HSE&S and strong operations background, in order to in best practices from across the world to the organization.

The team needed a fast and efficient plan to reach out to this segment of talent, who could bring in global and industry best practices to drive growth.

Approach:

The company realized that they can’t leverage traditional methods to attract the right candidates and would require a more analytical approach to drive the desired results. 

Taking an ROI driven, analytical talent engagement approach, Vedanta partnered with LinkedIn, and adopted a three-pronged comprehensive strategy to attract and hire desired candidates. 

1. Reaching out to International Talent:

The company has its own program for developing internal talent for leadership roles. For example, Vedanta Group’s Chairman workshop recently identified 600 leaders from within the company, preparing them for future leadership roles. However, with accelerating growth, there was a strong need to look externally at global talent, especially for some key roles. In order to hire efficiently, Vedanta used LinkedIn to get the key insights on potential candidates such as geographical preferences, skills, etc.

Through this approach, Vedanta was able to research and map talent in target countries and industries. The company was able to reach out to experienced, international leaders for long-term leadership roles and as well as short-term assignments.

2. Mining for leadership roles:

The HR team used LinkedIn’s Global Recruiter license to access global, senior and expat talent to hire for these important and specialized roles. Moreover, through the Recruiter tool, the talent acquisition team was able to identify candidates who are most likely to thrive in these niche roles. 

3. Appealing to the highly skilled:

HSE roles are extremely hard to fill due to the global levels of compliance that Vedanta needs to have in their plants. These roles require highly skilled individuals with expertise in areas such as physics, geology, petroleum engineering, drilling and so forth. Most positions that needed to be filled required a minimum of 20 years of experience. LinkedIn enabled Vedanta to connect directly with those who fit the role. Relevant content published on Vedanta’s career page also facilitated an authentic connection between potential candidates and the company. 

Richa Saraswat, Manager – Talent Acquisition at Vedanta shares, “We took a talent engagement approach for this project, focusing on the complete candidate journey. This led to not just fulfillment of strategic roles that were open at that time, but also resulted in positive brand recall within our target talent pools on LinkedIn.” 

Results:

Madhu Srivastava, CHRO – Vedanta Limited shares, “One of the additional outcomes that we explored aside from hiring international and experienced candidates, was to create brand awareness amongst our target talent communities. This objective was met by building relationships with relevant candidates and creating a pipeline of talent.” 

Leveraging LinkedIn’s Talent Solutions, Vedanta observed the following key outcomes:

  • 29 critical positions were closed during the year the year 
  • 80 percent of HSE leadership hiring closed via LinkedIn
  • USD 1.2 million worth of cost savings in FY 2017-18

The ROI driven planning empowered Vedanta to not only hire highly skilled global talent, but they also opened doors to pioneering leaders in the oil & gas industry. 

Topics: Talent Acquisition

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