If you are interested in reducing your cost per hire, time to hire and attracting the best talent available, then Recruitment Process Outsourcing (RPO) is definitely worth considering.
WHAT IS RPO?
“Recruitment Process Outsourcing (RPO) refers to a company outsourcing its recruitment or staffing process to an external service provider”. The external provider shall provide your company with the necessary skills, tools and technologies to perform the recruiting function. Recruitment Process Outsourcing (RPO) will bring in significant COST savings and improvements in the QUALITY of recruitment.
PURPOSE AND BENEFITS
Recruitment Process Outsourcing provides excellent benefits in the areas of Quality, Cost, Service and Speed.
QUALITY: Recruitment is a labor-intensive process and it is further compounded by the fact that it is recurring. To cite an example, your company could have a very high number of open positions during a certain time of the year each requiring varied skill-sets and experience. To hire a team that is capable of sourcing and recruiting these candidates is very challenging. Providers of Recruitment Process Outsourcing have the required processes in place, expertise, an extensive database of resumes and the networking required to source all types of candidates.
COST: Your costs can be significantly reduced because an RPO provider essentially uses “economies of scale”. They are also capable of handling volume fluctuations in a much easier way. For example, the RPO provider could allocate 10 recruiters to your company when volumes are high and then easily shift them to another client when volumes are low. If you as a company were to hire these 10 recruiters, you would either be forced to pay for resources that are not being used or lay them off which involves overhead expenses.
SERVICE: A Recruitment Process Outsourcing (RPO) provider will help to streamline your company’s recruitment function and make it seamless and effective. RPO providers are equipped to provide you with the best people when you need them and also take care of your ongoing and future needs through greater employee retention and process control.
SPEED: “Time to hire” is a very critical factor in the recruitment process as this directly affects business performance. A Recruitment Process Outsourcing (RPO) provider will find it much easier to analyze their database and create a pool of candidates that is ready to be interviewed. They need not take time to advertise for the specific job profile.
Recruitment Process Outsourcing is an end-end function. It begins all the way from designing a job profile to charting the recruitment process and also developing orientation strategies once a candidate is hired. It is not just restricted to hiring a specific person for a specific profile at any time. It is about building a talent pool of resources that can be made accessible for your company. RPO providers also go the extra mile to provide your company with valuable advice and strategies on employee retention.
Recruitment Process Outsourcing has a powerful place in the market. RPO providers are well connected to various companies and the job seeker market. They have a much larger and attractive talent pool than any single company could possibly have.