Kelly Financial Resources Develops Staffing Partnership That Leads to Significant Cost Savings and Efficiency

THE CHALLENGE
A major national mortgage banking institution’s application processing center in St. Louis was using five staffing services in October 2001, a period when interest rates were exceptionally low and first mortgage and refinancing records were being set on a daily basis.

At peak staffing, approximately 200 temporary employees were being supplied by the five staffing vendors. Many of the employees, working 40 hours per week with overtime, were not qualified for the positions in which they were placed. Kelly, who had eight percent of this business, witnessed competitors sending clerical-level employees to fill jobs that required significant experience in the lending business.

THE SOLUTION
In 2002, Kelly Financial Resources presented the company with a partnership staffing solution in which all requests for staffing would be first routed through Kelly, taking advantage of highly qualified, top-rated past placements. At the same time, the company would be able to leverage the competitive mark-up factor.

Kelly was awarded the majority of the staffing business, and quickly placed multiple mortgage professionals as business began to ramp up in July 2002. By November 2002, Kelly had 80 professional temporary employees on assignments, and was one of two preferred partners for the company’s St. Louis application processing division.

THE RESULTS
Today, the St. Louis application processing center has full control over the quality, quantity and high performance standards set by the company. With a 60-percent reduction in vendor usage, the company has realized less time to order; faster on-time fill rates (Kelly Financial Resources provides 95-percent on-time fill rates), lower refill/replacement ratios and improved invoice accuracy.

Since November 2002, Kelly Financial Resources has saved the company approximately $75,000 (by eliminating post-project costs) and well over $10,000 (by consolidating the company’s previous bill rates, which ranged considerably from vendor to vendor).

Kelly Financial Resources continues to provide temporary staffing, direct hire and temp-to-hire employees, as well as a dedicated, off-site account manager experienced in the mortgage industry, recruiting mortgage professionals.