Citadel is a leading investor in the world’s financial markets. For over a quarter of a century, Citadel has sought to deliver industry-leading investment returns to clients, including corporate pensions, endowments, foundations, public institutions, and sovereign wealth funds.
Its global team works to help its clients’ capital fulfill its greatest potential across a diverse range of markets and investment strategies, including fixed income & macro, equities, quantitative, commodities, and credit.
Citadel wanted to expand its workforce and was planning to recruit fresh graduates. The strategy, though traditional, was a bit different from the regular university hiring scenario.
Citadel used to invite candidates from top colleges to its offices for a written test and subsequent interview. The initial shortlisting of the candidates was done based on the candidates’ university report cards. To evaluate such a large number and interview them took an enormous amount of time.
Before using iMocha
Citadel was spending a lot of time vetting candidates with this process and quickly realized it needed a leaner process to recruit fresh graduates. Citadel connected with the iMocha team to switch to online assessments.
iMocha’s customer success team helped Citadel create the assessment using its own questions. The assessments were sent to the candidates via a secure link. The candidates could access this link from anywhere and were not needed to come to the Citadel office. Once the results were generated, only those candidates who fell under a certain performance criterion were considered for the next round.
After using iMocha
Citadel managed to improve its hiring efficiency by 40% and reduce administrative costs by 60% as well. They only invest time in interviewing top performers to make data-driven hiring decisions.