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Dow Corning to save 20% annually through recruitment process outsourcing

 

LONDON, 31 January 2007  Global chemical and technology group Dow Corning expects at least a 20% saving in its annual recruitment costs after implementing a bespoke recruitment process outsourcing (RPO) package designed by Aon Consulting.

Nick Peligno, business development manager at Aon Consulting, said: “The company has appointed Aon Consulting as its recruitment partner for a three-year period. Aon already provides the company with pensions administration services and our knowledge of the client allowed us to develop an appropriate RPO package speedily.

“Following an audit of Dow Corning’s recruitment process it became apparent that outsourcing the process would allow the company to focus on its core competencies without significant investment in related technology and personnel. As part of the RPO package, we have introduced online job advertising on targeted vacancy boards and revamped the careers section of the company’s website. This has allowed the company to stop using external recruitment agencies with only a third of its recruitment budget now allocated to traditional off-line media advertising”

Nick Peligno said that RPO provides the Dow Corning management with enhanced data and the ability to measure recruitment performance more robustly. “We are confident of building on the achievements made in the first six months of the contract for the client.”

Lyn Evans, UK Human Resources Manager at Dow Corning, said: “The introduction of RPO has helped us reinvigorate our branding and make Dow Corning an attractive destination for top talent. Aon created a bespoke package that has already reduced times taken to recruit candidates and significantly increased the talent pool from which to make selections. This is all being achieved with savings in annual recruitment costs of up to 20%.”

Notes to editor:

About Aon Consulting

Aon Consulting is a leading human capital consultancy, helping organisations of every size to attract and keep the employees they need. We advise on all aspects of employment, including health-related insurance and risk; employee compensation and pensions; human resource strategy planning; job design and change management; and staff assessment and legal issues. Aon Consulting is a division of Aon, one of the UK’s largest insurance brokers and providers of risk management services and a major force in reinsurance and the UK human capital consulting market.  Aon Consulting Limited is authorised and regulated by the Financial Services Authority.

About Aon

Aon Corporation is a leading provider of risk management services, insurance and reinsurance brokerage, human capital and management consulting, and specialty insurance underwriting. There are 45,000 employees working in Aon’s 500 offices in more than 120 countries. Backed by broad resources, industry knowledge and technical expertise, Aon professionals help a wide range of clients develop effective risk management and workforce productivity solutions.

This press release contains certain statements related to future results, or states our intentions, beliefs and expectations or predictions for the future which are forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from either historical or anticipated results depending on a variety of factors. Potential factors that could impact results include: general economic conditions in different countries in which we do business around the world, changes in global equity and fixed income markets that could affect the return on invested assets, fluctuations in exchange and interest rates that could influence revenue and expense, rating agency actions that could affect our ability to borrow funds, funding of our various pension plans, changes in the competitive environment, our ability to implement restructuring initiatives and other initiatives intended to yield cost savings, our ability to execute the stock repurchase program, our ability to obtain regulatory or legislative changes to permit continuous sales of our supplemental Medicare health product, changes in commercial property and casualty markets and commercial premium rates that could impact revenues, changes in revenues and earnings due to the elimination of contingent commissions, other uncertainties surrounding a new compensation model, the impact of investigations brought by state attorneys general, state insurance regulators, federal prosecutors, and federal regulators, the impact of class actions and individual lawsuits including client class actions, securities class actions, derivative actions, and ERISA class actions, the cost of resolution of other contingent liabilities and loss contingencies, and the difference in ultimate paid claims in our underwriting companies from actuarial estimates. Further information concerning the Company and its business, including factors that potentially could materially affect the Company’s financial results, is contained in the Company’s filings with the Securities and Exchange Commission.

Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.

 

Aon Limited is authorised and regulated by the Financial Services Authority in respect of insurance mediation activities only.

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