Is RPO A Smart Choice For Your Business?
Hiring is the most crucial aspect of a business as companies hugely rely on a high-performing workforce to reach their business goals. Hiring is either a kill or cure for businesses. If you managed to hire the right talent, there is no looking back; but if not, then you probably have wasted your time and resources.
Interestingly, recruiting is considered one of the most detailed and time-consuming processes in the industry. With the quality of the workforce also becoming detrimental to business’ success, several companies are now turning their attention to Recruitment process outsourcing companies(RPO) for their hiring needs.
So, what is RPO or Recruitment Process Outsourcing?
Recruitment process outsourcing is the process of outsourcing your internal recruitment activities to RPO specialists. These RPO experts will have broad experience in managing and recruiting talents. They can assist your company with essential technologies, process methodologies, and skillsets. In short, they offer customized solutions for sourcing, recruiting, and onboarding the right talent.
An RPO saves significant time and effort for recruiters and is the best bet if you are short of an expert recruiting team.
Still contemplating whether to hire a recruitment process outsourcing or not? Here are five reasons that can help you decide the best for your organization.
5 Reasons Why RPO Is Essential For Your Business
Recruitment outsourcing might be a new process, but the extent to which companies embrace the concept makes it extra special. Although the structure and process remain the same as conventional hiring processes, these outsourcing firms do extensive research before sourcing & hiring talents. Here are a few reasons why outsourcing firms prove to be a more productive and efficient choice for your company.
Helps Save Time & Effort
With the job market brimming with qualified candidates, finding the right recruit is never an easy task. Posting job advertisements and conducting background screening is also a time-consuming task. Hence, in-house recruiters will have to invest more time and resources to rope in the right candidates.
RPO services can streamline the entire process and reduce the hiring time significantly. With the entire cost also being rolled into one, you need not worry about the spiraling cost that you would have required for hiring. Also, you get to save enough time to focus on your core business goals.
Quickly Fill Multiple Positions
Imagine what will happen if your company is going on a mass recruitment spree. You will most probably end up realizing that filling up a single position is itself a time-consuming process. Not only would that make the hiring process difficult, but the candidates you might be hiring also may not be the right fit.
A recruitment process outsourcing service fits well in this context. RPO companies are specialized in finding out the right candidates that suit your skill requirements. Once the RPO experts understand your requirements, they start searching for suitable candidates in the job market through various sources. RPO services can help meet your bulk recruitment needs faster and ensure that recruited candidates are adequately qualified and skilled.
Helps Gain A Competitive Edge
Evolving technologies and the growing demand to find skillful employees often leave in-house recruiters overwhelmed with additional responsibilities. Besides the limited time, the challenges increase when you compete with other recruiters in the industry to find the top talents.
Hence, it is highly recommended that companies seek recruitment process outsourcing services for their specialized skill demands. An RPO firm’s broad reach in the job market and understanding of niche skills make them your ideal partners for recruiting.
Assists In Tackling Employee Turnover
High employee turnover rates are often attributed to poor hiring. After spending enormous energy and cost recruiting suitable candidates, it would be highly distressing to see these candidates leaving the company. Though several other factors lead to attrition, hiring the wrong candidate probably is a reason that can be avoided.
The RPO services keep a plethora of information about the applicants and their career choices. This information is assessed, and the recruiters ensure that the candidates are not vulnerable or are prone to frequent career jumping. Their large candidate database also makes it easier to recruit for the open positions immediately.
Offers Technological Assistance
If you are still relying only on referrals and applicants, then you are probably missing out on the right talents that fit your requirements. Technology provides a great deal of data and analytical insights that can increase your applicant pool. If you are yet to grab hold of this fabulous technology, then hiring an RPO firm can do the trick.
Besides maintaining a massive database of candidates, the RPOs employ various technological tools that make hiring simple and more engaging. Their access to passive candidate information and analytical algorithms ensures that the right candidates are hired for the job.
By utilizing the best technologies, the RPOs also help you create a brand name that the candidates can readily recognize. As candidates increasingly evaluate their recruiters based on their online presence, it is a must for employers to market their brand efficiently.
To be precise, the recruitment process outsourcing streamlines every recruiting operation and helps businesses to focus on long-term strategies that go easy on company expenditure. Unlike staffing agencies that focus on short-term hiring needs, RPOs integrate with the businesses and manages the entire recruitment at an affordable cost.
Curious to know how an RPO works? Find out the different processes that makeup recruitment process outsourcing.
Five Steps By Which RPOs Augment The Recruitment Process
- Planning: RPOs collaborate with your company to devise workforce plans and strategies using talent analytics.
- Sourcing: Unlike in-house candidate sourcing, RPO services rely on extensive networking to source the right candidates. The various sourcing strategies used by the hiring firms involve talent pipelining, recruitment marketing, predictive analysis, talent analytics, recruitment messaging, and employer branding. It is found that about 80% of talents are recruited relying on these strategies.
- Screening: Once the sourcing is completed, rigorous workforce screening processes like personality evaluation, skill assessments, and interviews are conducted to ensure the candidates are the best fit for the position. The screening also evaluates if the candidates culturally fit the companies.
- Offer management: RPO experts are your company’s brand promoters. They schedule interviews and negotiate salaries as your company representative.
- Reporting: By regular reporting of recruiting metrics such as retention rates, costs, time for recruiting, etc., the accountability of RPO services is par excellence.
There is no doubt that RPO services are fast rising as an exemplar recruiting service. Large or MSME companies looking out for an extensive workforce network should definitely consider outsourcing their recruitment processes to an RPO firm.