Linking AI Initiatives to Real-World Outcomes
THE ROLEFIT SURVEY™ (RFS)
A pharmaceutical and bio-technology company with multiple locations across North America having approximately 2,000 employees.
The company was bringing a new consumer product into the Canadian market. Given their historical performance they anticipated they needed to recruit 200 new sales people to adequately manage the launch and meet the sales forecast for this new product. The industry average annual salary and benefits per Sales Rep is high and includes a vehicle, perks, sales incentives and rewards.
The challenge: How to quickly hire “the right” Sales Reps; minimize hiring costs and attrition; maximize employee engagement, time to competence, revenue and profitability, and; measure the success of this effort over time.
To use workforce analytics to validate the number of new Sales Reps required; to use The RoleFit Survey™ to minimize the time and effort to identify top applicants; to measure project success.
Acquired Insights Inc. was engaged to analyze workforce requirements and conducted a “time and motion study” of Sales Reps. It was determined that Sales Reps had an average excess capacity of approximately 40%.
The RoleFit Survey™ was used to more tightly align some Sales Reps to the sales strategy, to re-purpose some sales reps to other parts of the organization or to be out-placed, and as a competency-based tool to screen and rank order new hires.
Acquired Insights determined the existing sales force was being underutilized and that 90 full time equivalent (FTE) sales people could be redeployed to meet the needs of then new product launch requiring that only 110 new Sales Reps needed to be hired. The RoleFit Survey™ was used to assess all 500 existing Sales Reps.
The direct and primary savings from not having to hire an additional 90 new Sales Reps (Salary, Benefits, perks and rewards) was $11,000,000. ANNUALLY
The Cost Benefit Ratio was 1:13.41 meaning that for every $1 spent this Client saved $13.41
A complete 100% Return On Investment was obtained in less than 20 business days
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