How TechKluster Pro Helped a Fintech Company Hire Faster and Save 80% of Hiring Costs
Client: A rapidly growing fintech company providing digital payment solutions Challenge: High costs and slow turnaround times in hiring top tech talent Solution: TechKluster Pro - Verified Hiring Platform Outcome: Reduced hiring costs by 80% and cut the time-to-hire by 60%
Client Overview
The client, a fintech startup specializing in secure and scalable digital payment platforms, was on the verge of rapid expansion. With increased customer demand, the company needed to quickly build a team of highly skilled engineers, developers, and data scientists. Given the specialized nature of their services, finding the right talent was a challenge that required both speed and precision.
The company had been relying on traditional recruitment agencies and job boards, resulting in long hiring cycles and substantial recruitment costs. Facing delays in onboarding key team members and mounting expenses, the company needed a more efficient, cost-effective solution for talent acquisition.
Challenges
High Recruitment Costs: Traditional recruitment agencies charged up to 25-30% of annual salaries for new hires. This model was proving unsustainable as the company continued to scale, with recruitment costs eating into the budget for product development and innovation.
Slow Time-to-Hire: The hiring process was bogged down by long vetting procedures and a lack of pre-assessed candidates. On average, it took the company 2-3 months to fill critical positions, causing project delays and lost opportunities.
Difficulty in Finding Specialized Talent: The fintech industry requires very specific technical skills such as blockchain development, data analytics, and cybersecurity expertise. The client found it challenging to locate qualified candidates through conventional channels.
Solution: TechKluster Pro
The company turned to TechKluster Pro, a verified hiring platform designed to connect businesses with a global pool of pre-vetted tech professionals. TechKluster Pro addressed all the pain points the client was facing by streamlining the hiring process and significantly reducing costs.
Key Features Leveraged by the Client:
Pre-Vetted Talent Pool: TechKluster Pro’s pool of candidates had already been pre-assessed for technical and problem-solving skills, drastically reducing the time needed for technical screening.
Transparent Pricing: With TechKluster Pro’s transparent pricing model, the client only paid a 15% commission on the hired candidate’s monthly compensation, which was a fraction of the 25-30% upfront fees charged by traditional agencies.
Global Talent Access: By tapping into TechKluster Pro’s international talent pool, the company could source highly skilled engineers from around the world, including regions where labor costs were more favorable.
Results
Faster Hiring Process: Using TechKluster Pro’s verified candidates, the fintech company was able to cut their average time-to-hire by 60%, bringing it down from 2-3 months to just 3-4 weeks. This rapid turnaround enabled the company to meet pressing project deadlines and focus on scaling their services.
80% Cost Savings: By transitioning from expensive recruitment agencies to TechKluster Pro’s transparent pricing model, the company saved 80% on recruitment costs. For instance, instead of paying a recruitment fee of around $30,000 for a senior developer earning a $100,000 annual salary, the company paid $750 per month based on the developer’s $5,000 monthly compensation—significantly reducing their upfront costs.
Access to Global Talent: With access to an international talent pool, the fintech company was able to hire highly specialized engineers and developers with blockchain and cybersecurity expertise. TechKluster Pro’s pre-vetted global candidates allowed the company to expand its hiring scope beyond local limitations and take advantage of talent from regions with lower labor costs, without compromising on quality.
High Retention Rates: The client found the perfect matches for critical roles, leading to higher retention rates. The candidate screening and matching process ensured a better cultural fit, minimizing turnover and long-term hiring risks.
Example: Hiring a Senior Developer
To illustrate the cost savings more concretely, the fintech company hired a senior developer through TechKluster Pro with a monthly compensation of $5,000. Under the traditional recruitment agency model, this would have cost the company around $30,000 upfront (30% of a $100,000 annual salary).
With TechKluster Pro’s 15% commission model, the cost was just $750 per month (15% of $5,000). Over a year, this resulted in a total recruitment fee of $9,000, leading to a significant $21,000 savings, or an 80% reduction in hiring costs compared to traditional methods.
Conclusion
By switching to TechKluster Pro, the fintech company was able to completely transform its hiring process. The platform’s transparent pricing model, pre-vetted talent pool, and global reach provided a faster, more affordable way to source top-tier tech talent. In addition to reducing hiring costs by 80%, the company also benefited from shorter time-to-hire and better quality matches, ensuring they had the right people to drive their projects forward.
TechKluster Pro proved to be a game-changer, enabling the company to save both time and money, while still hiring the highly specialized talent needed to thrive in the competitive fintech industry.
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