Recruitsoft and Arthur Andersen Forge Partnership to Provide Human Capital Management Consulting Services to Quebec Corporations
Event to introduce partnership and announce Canadian Top 100 Companies Research Report on best practices in corporate career Web site recruiting
Montréal, QC – April 19, 2001 –
Recruitsoft, the leading provider of Web-based hiring management systems, and Arthur Andersen, (www.andersen.com), the leading professional services firm, announced today that the two companies have formed a strategic partnership.
The partnership between Recruitsoft, with R&D headquarters in Quebec City, and Arthur Andersen enables both companies to provide consultation services for Recruitsoft’s Internet-based hiring management solution to large corporations seeking to improve their overall recruitment, talent optimization and human capital management business processes. Making the Recruitsoft solution an integral part of Arthur Andersen’s management solutions practice is expected to significantly benefit both companies, as well as their respective client bases.
“After spending countless hours figuring out how to attract top talent, companies are now turning their attention and focus to talent retention. A recent study in the U.S. revealed that cost of replacement in large companies is in excess of $100,000 per person. Talent acquisition and retention are inseparable and equally important processes in today’s competitive world. Recruitsoft is the enabler of best practices for global talent management. Our solution with Arthur Andersen will allow top Quebec companies to effectively bridge supply and demand in the world of human capital management. Together, we can help Quebec companies win in the race for talent by focusing on what’s important… qualified, loyal employees,” said Louis Tetu, CEO of Recruitsoft.
“The partnership with Arthur Andersen makes perfect sense, as both companies work with a Global 2000 client base and can leverage each other’s strengths to bring substantial added value to our clients,” continued Tetu.
"Finding and retaining the best applicants and optimizing the hiring process are of great concern to human resource managers. Our alliance provides them with a turnkey solution for attracting the best people and substantially cutting costs. In the partnership, Arthur Andersen provides professional services related to the implementation of the Recruitsoft application and the integration of the application in the customer’s hiring process,” says Réal Lévesque, Manager, Organizational Transformation, Arthur Andersen.
The alliance, and an iLogos Research study of the Top 100 Canadian companies’ corporate career Web site recruiting practices, will be announced this evening at an event cosponsored by Arthur Andersen and Recruitsoft. The reception will be held today from 5:30 to 8:00 p.m. at St. James Club, 1145 Union Avenue, in Montreal. Charles Sirois, President and CEO, Telesystem will be the keynote speaker and will discuss the subject of human capital management.
iLogos Research, a division of Recruitsoft which monitors and analyzes trends in the online recruiting and talent optimization areas, today released research results that indicate that the 100 top Canadian companies lead Fortune 500 companies in key leading online recruiting best practices but lag behind in overall adoption and usage of online recruiting.
The lower adoption and usage of online recruiting best practices by Canadian companies compared to their Fortune 500 counterparts can be explained by lower overall penetration of corporate career Web sites among Canadian companies (64 percent versus 89 percent). When the Canadian companies without career sites are removed, the Canadian companies lead the Fortune 500 in over 50 percent of the best practices and by greater margins, and are well ahead in some of the most innovative best practices.
The top 100 Canadian companies lead the Fortune 500 in usage of certain leading best practices on career Web sites, including: urgent jobs highlighted (4 percent versus 3 percent); submission of formatted resumes (13 percent versus 9 percent); e-mail to a friend (10 percent versus 9 percent); anonymous applications (3 percent versus 1 percent); online job agents (8 percent versus 6 percent); and customized pre-assessment tools (5 percent versus 1 percent).
About Arthur Andersen
Arthur Andersen (www.andersen.com) was founded in 1913 as an accounting and business advisory firm. Today, it offers a broad range of professional services in consulting, assurance, tax, corporate finance, and, in certain countries, legal services. The organizational transformation services include hiring and resourcing, skill development management, change and transition management, performance management and bringing the organizational culture in line with its structure. Arthur Andersen, which employs more than 77,000 professionals in 84 nations, is rated among the best places to work by leading publications, including Fortune magazine, and others. It also consistently is rated first in independent surveys of client satisfaction. Arthur Andersen has enjoyed uninterrupted growth since 1913. Its 2000 revenues totaled US$8.4 billion.
About Recruitsoft
Recruitsoft delivers the most complete online recruiting and talent matching solutions for leading companies across many industries. Recruitsoft clients include, in Canada, Alliance Atlantis, Bank of Montreal, Bombardier Aerospace and Transportation, Canadian Tire; and in the US, Hewlett-Packard, Dow Chemical (NYSE: DOW), MetLife, Hasbro, Cabletron Systems (NYSE: CS) and Sutter Health. Recruitsoft is considered to be the best-practice ASP for recruitment management solutions, based on its proprietary ACE Recruiting™ process technology, designed in collaboration with large corporations to engineer and streamline the corporate recruiting process.
Recruitsoft automates companies’ current practices while migrating toward a self-service, skills-based platform that matches talent demand with talent supply, creating significant value in enhancing the quality of candidates and optimizing internal talent. Recruitsoft is a contributing member of the HR-XML consortium, and the first Hiring Management Solution (HMS) to integrate all areas of candidate sourcing and communication.
Recruitsoft is funded in part by Bain Capital Ventures; Telesystem Software Ventures LP (Telsoft) and Telesystem Ltd., a Red Herring Top 100 company; General Catalyst; Omnicom (NYSE:OMC), the world’s leading provider of marketing communications and advertising services, through its Internet investment arm, Communicade; and an investment partnership comprised of employees of Bain & Company.
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