Online gambling specialist Betfair has reported savings of £1.65m by increasing its direct hires from 40% to 86%.
Internal research at Betfair shows that ‘directly hired candidates stay in their posts three times longer than agency hired candidates,’ the company reported. ‘Attrition rates have dropped to below 20% for the first time in three years. Hiring manager surveys also show distinct improvement in satisfaction levels.’
Betfair plans the next phase of its ‘employee value proposition’ strategy that includes redeveloping the Betfair Careers site, higher profile at industry conferences and seminars and sponsorship of relevant degree courses. It is working with specialist adviser True North.
The strategy has been supported by development of a technology platform for process management of all talent pipeline development; developing a ‘Betfair Talent Pack’ including an employee newsletter and providing management information on recruitment activity and costs.
Dickon Moon, head of recruitment at Betfair, said: ‘In addition to recruitment activities we are coaching all line management in the use of assessment tools, interview training and offer management techniques. We are determined to find, recruit and keep the best candidates in this market and the figures for the last year show that this is working.’
Betfair is expanding at over 30% year on year on a global basis, he added. It currently employs over 1,800 people. The headquarters are in west London, with international business hosted in Malta with large operational bases in Australia and the USA and a software development business in Romania.
Betfair reported revenues on 5 August 2009 of £303m in the year to the end of April, up 27% year on year and double where they were three years ago. It has tripled its active user numbers to 650,000. Profits for the year were up 29% at £72m.