John Hancock Financial Services Launches Web-Based Agent Recruitment Tracking System Developed by Bridgeline Software
October 19, 2004
Boston, MA. October 19, 2004 - John Hancock Financial Services recently launched eRecruit, a powerful web-based tracking and reporting system to manage all of the recruitment activities of their career agencies. BRIDGELINE was selected by John Hancock for its ability to develop complex database/business process solutions, particularly within Financial Services. According to Julie Clark, Director of Agency Growth and Development for John Hancock, “we looked at several vendors and chose BRIDGELINE because of their long-standing relationship with Hancock and their ability to develop a solution customized to our needs within a budget that met our objectives.”
BRIDGELINE's new approach allows users in the various agencies to log in to a web-based interface, develop a profile for each candidate, manage and track their progress from the initial interviews through pre-contracting and licensing. Important data on each candidate, including interview notes and predictor test scores, is easily retrieved by managers involved in the recruitment process. Additionally, the system manages all recruiting correspondence and allows the company's home office to run powerful, customized reports analyzing recruiting activity versus goals across their agency system.
The eRecruit system was developed with the primary objective of helping Hancock manage their substantial annual investment in recruiting activities. The Life Insurance Market Research Association (LIMRA) estimates that it takes on average 30 agent candidates to get to a single full-time hire. With Hancock looking to spur additional growth in their agency ranks, this could potentially mean recruiting upwards of 20,000 candidates each year. According to Clark, the eRecruit system will greatly facilitate their ability to “know exactly how many recruits are being entered into the top of the funnel, how many are hired, and most importantly, how many are retained.”
A 2003 Deloitte and Touche survey asked respondents “What is the biggest challenge with insurance distribution.” The second most cited response was “attracting and retaining good producers”. The reporting features within eRecruit will allow Hancock to look at collected data around the candidates and pinpoint precisely, based on agent retention rates, where the best sources of candidates are. “eRecruit will help us identify, for example, the nominator or centers of influence relationships that time and time again, provide candidates that we hire and ultimately retain as producers,” says Clark.
About John Hancock Financial Services
John Hancock Financial Services, Inc. and Manulife Financial Corporation (NYSE:MFC), merged since April 28, 2004, together form the second largest insurance company in the United States and the fifth largest insurance company worldwide, with a market capitalization of approximately US$29.8 Billion (as of April 2004). The combined company markets products and services under multiple brands, including John Hancock in the United States and Manulife Financial in Canada, the U.S. and Asia. Together, they are one of the most recognized insurance brands in the United States. For more than 140 years, the combined companies have built a reputation based on financial strength and stability, which is reflected in their consistently strong financial ratings.
About Bridgeline Software
Bridgeline Software is a developer of content management software, document management software and award winning web services. The types of web services include the complete development of enterprise Internet, intranet, and extranet web properties. BRIDGELINE specializes in information architecture, usability engineering, flash development, e-commerce, e-Learning/ e-Training programs, and database development. Our customers include companies such as The Bank of New York, Manulife Financial, John Hancock Financial Services, Woodmen of the World Life Insurance Society, Nomura Securities, First Albany Companies, Cadaret Grant, J.B. Hanauer & Co., FolksAmerica Reinsurance Company, Newton-Wellesley Hospital, March of Dimes, The New York Times, Federal Mediation & Conciliation Service, United States Postal Service, and the National Education Association.
Visit us today: www.bridgelinedigital.com