HSBC Leverages PeopleAnswers' Hiring Technology to Increase Sales by 21% in its Branch Locations
Over the course of an eight-month study, new HSBC Account Executives "Recommended" by the PeopleAnswers® assessment tool generated 21% more sales than employees who were not assessed.
PR9.NET April 30, 2008 - Dallas, TX - HSBC, one of the largest banking and financial services organizations in the world, has been using PeopleAnswers, a leader in next-generation, web-based hiring technology, to provide pre-employment selection software to HSBC's consumer lending division. Historical analysis of thousands of new HSBC Account Executives indicates that, over the first eight months in their position, employees who were "Recommended" by PeopleAnswers originated 21% more sales revenue than Account Executives who were not assessed.
Account Executives in over 1,300 HSBC branch locations across the United States have the primary responsibilities of initiating loan sales while providing great customer service. HSBC selected the PeopleAnswers solution to improve performance and retention in this front-line position.
In the initial stage of the engagement, PeopleAnswers worked closely with HSBC to build an objective Performance Profile™ that clearly identified the unique behavioral traits that contribute most strongly to the success of HSBC's existing top Account Executives.
Once the Performance Profile was designed, HSBC inserted PeopleAnswers' software into the first stage of the hiring process to automatically assess Account Executive candidates against that job profile. Candidates closely matching the profile were identified as "Recommended" to HSBC managers and recruiters. During their first year, these "Recommended" new hires produced 21% more sales volume than their non-assessed counterparts in the same position.
Gabriel Goncalves, President and CEO of PeopleAnswers, was pleased with the real-world results generated by his company's cutting-edge technology: "Our software solution is perfectly positioned to help large corporations improve performance in virtually any functional area," says Goncalves. "In this case, HSBC successfully leveraged the technology to increase the quality of hire for their Account Executive position. Making better hiring decisions translated to employees who produced 21% more sales dollars, which is an incredible financial win for HSBC."
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HSBC, "the world's local bank," has over 10,000 offices in 83 countries and territories providing a comprehensive range of financial services: personal financial services; commercial banking; corporate, investment banking and markets; private banking; and more. Visit www.HSBC.com.
About PeopleAnswers, Inc.
PeopleAnswers provides next-generation web-based hiring assessments to help companies maximize the quality of every hire, reduce turnover and hiring costs, and streamline the selection process. Clients include ADP, Macy’s, Centex, Neiman Marcus, Tenet Healthcare, The Venetian Hotel, and Medtronics. Visit http://www.PeopleAnswers.com.
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