The U.S. Bureau of Labor Statistics reported 163,000 new jobs in July – a number that is surprisingly the highest in the past several months. With the economic recovery still in its debilitated state, a slew of firms across the U.S. have abstained from filling vacancies and embarking on new endeavors for a drawn-out period such that now they need to begin filling those slots.
For companies that are now actively hiring, the words that you may be looking for, for your recruiting woes are “Recruitment Process Outsourcing”.
RPO firms do a great deal compared to search firms and employment agencies. An RPO provider can become an essential part of your firm’s recruitment and hiring process, right from job analysis, to screening/selection process to onboarding. RPO is not confined to large corporations any longer; in fact, it has turned into an alluring choice for mid-sized companies as well.
Here are a few questions about your firms that might help you determine whether to extend your hands to RPO or not:
The struggle to get the most qualified lot of applicants is fiercer than ever. Does your organization have in-house experts to compete with those killer recruiting skills your competitors RPO partners possess?
The recruitment process is not just limited to job boards today. It requires social media expertise as well and dominance over other technologies. Do your in-house experts have that sort of aptitude?
A large number of organizations today have shifted from Human Resources to Talent Management. The evolution of this terminology indicates that today’s organizations want experts who can deliver on all fronts – that includes keeping up with the time-consuming demands of recruitment.
If you’re considering tapping RPO, here are two obvious advantages: 1.) Global Reach and 2.) Global capabilities.
A lot of organizations today are looking for candidates all around the world due to adventurous new endeavors. Recruiting in other locations means obstacles in the form of distance, culture and language.
For instance, for the first time in the history of Winter Olympics, this year’s host Russia hired an RPO partner, KellyOCG to take care of the recruitment part. KellyOCG hired more than thousand full-time workers in management, communications, technology and client relationships to facilitate such a mammoth event. It marks a significant breakthrough in the world of hiring, where entire hiring functions for internal hiring are now outsourced.
Second, recruitment today means corresponding with prospective candidates over social media, career fairs, cold calling, and blogging. Recruiting no longer means posting simply on job-boards and expecting candidates lined up the next day. The selection process has indeed turned into a complicated affair and quite a lot mind-boggling for in-house professionals to ace all the tools and make a fruitful change.
According to a report by Everest Group in 2014, RPO is one of the fastest growing single process HRO markets, with a 21% growth in last three years and $1.8 billion annual spending.
With the changing landscape, it’s ultimately your call: keeping in-house recruitment experts to call the shots for you or considering the RPO way to get experts working for you?