Recruitment Process Outsourcing (RPO): The right talent at the right time
With the war for talent ‘hotting up’, so too is the demand for HR leaders to revolutionise the way in which they engage, on-board and retain top talent. Recruitment Process Outsourcing(RPO) providers help firms stay ahead of their competitors by developing strategic solutions that have a positive impact on cost, time and quality.
How can Recruitment Process Outsourcing benefit your business?
The reasons for outsourcing vary from each organisation however; the benefits are far reaching allowing HR to not only attract top talent but the right talent for their business. This can include project based RPO solutions for one off, business critical hiring demands or a longer term and fully sourced solution in which the provider becomes part of your internal team and brand.
1. Increased hiring effectiveness
An RPO solution increases the hiring and operational effectiveness of an organisation by developing a solution that attracts the best talent available in terms of cultural fit and skill set while reducing time and cost to hire.
Strategic and proactive talent mapping and pooling can significantly reduce a company’s time to hire, develop future proof talent and provide a fully scalable solution to cope with spikes in hiring demand.
2. Improved efficiency
The world of talent acquisition has developed rapidly over recent years, with the introduction of new technology including Artificial intelligence (AI) enabling innovative organisations to attract talent. However, not every company has been able to adapt to the changes quickly enough.
An RPO provider will be able to provide access to the latest tools, technology and expertise for your business.
New tools including AI, video interviewing and other online candidate attraction and selection methods have seen a reduction in time to hire by up to 40%. These advances in process automation and technology are allowing companies to re-engineer a more effective and efficient selection process which enhances the overall brand and experience for candidates as reducing the to hire.
3. Cost savings
For many organisations the actual cost per hire isn’t accurately quantified. An RPO provider will quickly be able to understand your existing cost base per hire while implementing process automation to reduce the overall cost of hiring.
While the core focus of any RPO provider will be to make sure they are attracting and engaging top talent there must also be a focus on cost containment. This ensures the appropriate talent is hired without increasing cost and also making sure that quality of hire is not neglected at the expense of cost.
An RPO solution will deliver cost savings against your current cost base over sustained time periods. These can include but are not limited to:
Reducing time to hire (ultimately reducing overall cost)
Reducing cost per hire and associated fees
Reduction of advertising fees
Reduced attrition rates
Increasing quality of hires
Achieving long term success through Recruitment Process Outsourcing
As the talent landscape continually moves and adapts it is vital that organisations begin to determine the best approach for long term success. Not every organisation will need to reduce cost but every organisation will need to future proof their talent pipeline. Engaging with an RPO provider will provide you with the expertise, innovation, scalability and diversity to fully execute strategic talent acquisition plans
Singular offers organisations access to our global expertise without losing the local touch, ensuring we understand your brand, culture, needs and future strategies.