Pioneer Financial Group (pseudonym), a 20-year-old mid-sized regional financial services company, employs 8,500 U.S.-based workers across 110 locations with divisions in retail banking, residential lending, and commercial lending.
AT A GLANCE
Hiring and Retention Challenges:
High turnover was undermining recruitment efforts and talent retention.
Limited data on factors influencing employee retention and turnover.
A lack of strategic insights into which workforce investments would yield the highest impact.
Outcomes:
40% reduction in voluntary turnover, leading to stronger employee retention.
Annual cost savings of approximately $12 million due to improved retention and performance.
More strategic hiring practices, focusing on long-term employee success and reducing high-risk hires.