About The Company
The earliest major cooperative bank in India is Cosmos Bank. Through inventive business over the last century, it has bolstered its financial foundation. The first multi-state cooperative bank to use the centralised banking system is also Cosmos Bank.
The Cosmos Co-operative Bank Ltd., a leader in cooperative banking, has served more than 20 lakh happy customers for 116 years nonstop through 144 branches in 7 States.
The Bank has made consistent improvement over the past ten years and, via its professional behaviour, has served as a role model for co-operative banks. The bank is dedicated to upholding the greatest standards of morality, professionalism, corporate responsibility, and legal compliance.
The Challenge
As repeat customers account for 40 percent of Cosmos Bank’s income, the bank places a high value on finding and employing dedicated employees who will remain with the company for the foreseeable future.
In order to keep up with the company’s growth, they started modernising the hiring procedure in 2011.
It was necessary for Cosmos Bank to find a method that would allow the firm to stand out from its competitors, as well as a method that would make it more interesting to tell their narrative, convey the goal and values of the organisation, and ultimately sell the opportunity to potential candidates.
The Solution
The incorporation of Metahire into the new hiring procedure was a significant aspect of their approach. Utilizing the Recruitment Platform provided by Metahire has assisted in lowering the expenses associated with the recruiting process and assures that the recruiters will always place the best candidate in the best role, irrespective of the location.
The Impact
With the help of Metahire, HR departments can more effectively communicate the company’s values and culture to prospective employees. As a direct result of putting Metahire into action, Cosmos Bank has been able to report an outstanding candidate Net Promoter Score (NPS) score of 78, which is tracked quarterly by Metahire.
Live interviews provide them with a far greater feel of the prospect in terms of their cultural fit, talents, and abilities, beyond what a résumé or a phone screen might tell them about the individual. Candidates for open positions at Cosmos Bank express gratitude for the schedule versatility and ease offered by the Company during the recruitment process.
This results in a candidate, and eventually an employee, who is more likely to suggest others in their professional network to Cosmos Bank for career possibilities. This will continue to improve Cosmos Bank’s employment branding efforts as well as the company’s general word-of-mouth marketing.
