by Staff Writer | Oct 31, 2020 | BLOG
Hiring doesn’t get any easier! Many of those involved with internal recruitment find themselves stuck in endless loops of hiring and onboarding new staff, with no real check on attrition rates. Besides a volatile hiring landscape, finding the best person for the job remains the key challenge. This is where Recruitment Process Outsourcing (RPO) makes a case for itself.
For an efficient and effective recruiting process that reacts to market trends, a company can transfer all or part of its recruitment process to an external service provider – RPO! Recruitment Process Outsourcing works like an extension to a business, , sharing the load with an often strained HR team or taking the burden off a business that doesn’t have a dedicated internal HR/Recruitment resource. Considering outsourcing to a specialist doesn’t have to be at huge expense, especially when factoring in the lower cost-to-hire with reduced time-to-hire.
Some considerations on how outsourcing recruitment can benefit employers.
Depending on projects, demands and key milestones most companies have varying hiring needs throughout the year. By utilising the services of a dedicated recruitment company they can assist with forecasting and assessing staffing requirements ahead of time. Armed with this, they can forward plan, mapping out the highs and lows of talent demands in order to prepare for skills shortages or saturation. This in turn lends to a more scalable and flexible recruitment process.
Slow hiring comes at a fiscal cost for the companies – an undesirable situation particularly in industries where average time to hire is low. A sluggish recruitment process could be a result of fierce competition for the same candidates, an inexperienced hiring team, or the requirement of narrow, specific skill set, uncompetitive salaries and even reputation. Outsouring to a knowledgeable Recruitment Company who understands how to navigate these challenges with systems that facilitate job-specific hiring whilst gathering intelligence from the market can have a huge impact on efficiencies. The knock on effect of managing candidates quicker and more professionally can do nothing but good, not only by getting results for the business but by making improvements to prospective employee opinions.
Job markets fluctuate, new skills are sought, top talent is constantly chased down. On the flip side there can be an influx of applications to a job with literally hundreds applying – an overwhelming job shortlisting! Selecting a recruiting partner who actively maintains a database of rated candidates adds a premium value to any business. There is evidence to suggest that more roles are filled from existing candidates as opposed to new ones received from applying to job ads. Now isn’t that worth some consideration?
The vast trails of industry-wide hiring data coupled with analytic insights from a comprehensive talent pool enables Recruiters to gauge and predict future trends. Preempting potential talent requirements/issues and preparing for an impending demand and supply shift is another tick in the forward planning stage of hiring.
High-value candidates are chased by firms from around the world. The companies interested in hiring them must also prove their worth over the competition. For a strained in-house HR team or lack of any in-house recruitment expertise the damage to branding could complicate things further. Having a dedicated resource on your side who can fine-tune and enhance the image of a hiring organisation should never be undervalued. You only have to ask a Recruiter who has supported organisations what the general ‘feel on the street’ is about that company! There are some real horror stories out there…..
Recruitment outsourcing isn’t new but there are still a few misconceptions which prevent companies from handing over their recruitment process to an external agency. A lack of understanding of how this partnership works and the fear of losing control over hiring are two examples.
In reality, an RPO model comes with its own flexibility. A company can either go for an on-demand contract-based engagement, function-based association or full RPO with an outsourcing agency.