Case Study/Growth Enablement

PAYROLLING SOLUTION FUELS RAPID EXPANSION FOR FINANCIAL FIRM

Overview

A prominent financial institution was gearing up for significant growth as they established a new “2nd Headquarters” location. They required a swift and efficient strategy to recruit and onboard both full-time employees and a large number of contractors, and handle many internal referrals. To navigate this rapid expansion, they turned to us for support in managing this workforce expansion.

Recruitment Challenge

Due to the need to scale quickly, the client elected to onboard staff as contractors, and ultimately convert them to full-time. Located in the competitive New York area finance sector, many candidates were referred through existing networks. The client’s small HR team needed a partner to effectively recruit, onboard, and payroll numerous contract employees on a cost-effective basis.

Our Approach

We provided a two-pronged solution to meet the client’s hiring needs. For positions without internal referrals, we implemented a targeted recruitment strategy, swiftly sourcing candidates to fill crucial roles. For positions with internal employee referrals, we implemented a low-cost payrolling program, bringing referred individuals onto our payroll as consultants, completely handling the onboarding and compliance requirements. By managing payroll operations efficiently, we ensured the client could expand rapidly without administrative bottlenecks.

Recruitment Process

Targeted Recruitment: The Benchmark IT technical recruiting team successfully sourced key technical consultants and managerial candidates for the client’s full-time hiring needs.
Onboarding and Payroll Management: As the employer of record, we onboarded over 120 contractors, including both W2 employees and vetted independent contractors. We efficiently managed payroll and ensured full compliance across the entire workforce.

350+ Successful Contract hires Drive Growth for Global Firm

Building a Future-Ready Team with Flexible Hiring Strategy

Hitting the Bullseye Where Others’ Missed the Mark

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Overview

Recruitment Challenge

Our Approach

Recruitment Process

Targeted Recruitment: The Benchmark IT technical recruiting team successfully sourced key technical consultants and managerial candidates for the client’s full-time hiring needs.
Onboarding and Payroll Management: As the employer of record, we onboarded over 120 contractors, including both W2 employees and vetted independent contractors. We efficiently managed payroll and ensured full compliance across the entire workforce.

Client Feedback

The client was impressed by how smoothly we handled their rapid workforce expansion, particularly our dual approach to recruitment and payroll management. By efficiently onboarding over 120 contractors, including both W2 employees and independent contractors, we ensured compliance while keeping costs low. This streamlined process allowed the client to focus on scaling their operations, reinforcing their confidence in our ability to
support their ongoing staffing needs.