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I am Bill Malcolm. I am the director of talent acquisition with Wyndham Vacation Ownership, which is the largest time share company.
When I first arrived at the company in 2014 there was a process in place by design, that the company that the company had created. And it was to have candidates, when they did apply, there would be a period of sourcing. And that sourcing would happen ever since the requisition was posted, all the way up to almost 19 days. So between that 11 to 19 day mark, by design, is when recruiters would first reach out to a candidate that had applied. So even if a candidate applied on day one, they may not be reached out to till about 19 days later, And again that was by design. And we wanted to change that we knew to change that and still have each of my 11 recruiters hire about 450 people a year. We definitely needed some efficiencies and how do we get more efficient? How do we shave that time off we definitely needed a piece of technology to play into that. So we looked at some digital interviewing and specifically the one that really helped us was Montage. We shaved that time down so now candidates is being reached out to within one to two days, which is definitely a better experience.
So probably our biggest result is turnover. So within the hospitality industry itself turnover normally hovers over about 40%. Although we did our own internal study and people that we do invite to Montage to do an on demand interview our turnover there is about 30%. Which is definitely a big improvement because like I said hospitality normally rages about 40%. We were about 43% a little above the average, but ever since instituting the technology we know that our turnover has gone down drastically. Those are 2016 numbers, and we quantified it as about $1.5 million in turnover money that we saved.
I'd say probably the biggest thing is our partnership with Montage is something that's real.
It became evident very quickly that the level of service that we receive with Montage is definitely, it can't be matched. At least with all the vendors that I'm exposed to in talent acquisition. I don't know of any other way of saying it but the technology it just works, which I know a lot of people are like, "Well what do you mean it just works"? Well it works as advertised. Just like with any company their providing a service to us, we appreciate that service. And not only do we get the service we actually get a level of service after the sale that it just makes you want to be a fan of the company, and I think it's just a recipe for a great working relationship.