Top challenges TA leaders can overcome with RPO
Talent Acquisition leaders haven’t had it easy over the last couple of years. First, they had to contend with the pandemic and the stress of furloughs and layoffs, followed by trying to re-staff as the Covid-19 crisis eased.
The last challenge, re-staffing, has been exacerbated by the scarcity of top talent looking to move employers and the ‘Great resignation’ where record numbers of employees voluntarily quit their jobs. In the US, in 2021, according to the US Bureau of Labor Statistics, 47 million Americans have left their jobs.
This led to staffing problems across numerous sectors, increasing the difficulties TA leaders have had finding suitable candidates to fill their vacant roles.
For a company to be successful, one of the key factors is having the right people in place to help their company achieve its goals.
A Recruitment Process Outsourcing provider can make the difference when organisations are trying to overcome talent scarcity, want to stand out from the competition and drive measurable business results.
What is Recruitment Process Outsourcing (RPO)? And why is it different from traditional recruitment methods?
Recruitment process outsourcing (RPO) is a way for a company to recruit permanent staff by transferring some or all of its recruitment to an external recruitment provider. The demand recruitment service can act as an extension of the company’s HR or recruitment function, delivering the required staff, technology, and methodology to achieve the company’s recruitment goals.
A traditional recruitment approach involves the recruitment company sourcing an appropriate candidate to fill the vacancy. By outsourcing recruitment, an RPO provider will offer an enhanced service, taking ownership of the entire recruitment process and providing additional services from talent engagement to candidate management and recruitment analytics support to pre-employment screening.
What are the five TA challenges you can solve with RPO?
To solve your talent acquisition issues by outsourcing recruitment to a recruitment process outsourcing company is an increasingly popular approach to overcome the tricky recruitment problems companies are experiencing.
Here’s five reasons why on-demand recruitment services may be the answer.
Finding and engaging quality talent
The competition amongst companies for high-quality candidates is fierce. This is highlighted by the number of unfilled vacancies in the UK, which as of March 2022 was at an all-time high of just under 1.3 million. In part, this situation has arisen because of the ongoing skills gap, the change in working conditions brought on by the pandemic, and the increasing number of candidates who are voluntarily removing themselves from the job market.
A study by Microsoft revealed that 41% of workers are considering changing their jobs this year. In this candidate-driven market, businesses need to stand out by offering an improved insight-led candidate experience, deliver a digitally sophisticated recruitment experience and understand what makes them attractive to a prospective candidate.
By partnering with an RPO, you benefit from experienced recruiters who have the skills, industry knowledge, technology and ongoing relationships to attract and engage the top talent your business needs.
Managing Recruitment Costs
In-house recruitment teams are often put into an impossible situation; keep recruitment costs and overheads as low as possible while attracting a steady stream of talented candidates to the business.
However, building a recruitment strategy that will allow them to fill roles efficiently now and, in the future, often ends up taking second place to the need to recruit reactively as and when vacancies occur. Additionally, using a cost per hire metric will often leave other expenses related to unfilled positions unattributed.
Utilising the services of an RPO has the dual benefit of improving talent acquisition and reducing costs. Your RPO will assess the impact of unfilled positions on the business’s bottom line and then recommend processes, strategies and technologies that allow the recruitment team to provide the required outcome more efficiently and cost-effectively than previously achieved.
Implementation and effective use of technology
Human resources have seen significant advances in the recruitment technology available to them, which has provided many undoubted benefits. However, the marketplace for these technological solutions is vast. Even if you choose an appropriate solution for your needs, the time required to implement and gain the expertise to use them effectively can be significant.
To avoid these technological stumbling blocks, partnering with an RPO can save time and money. In addition to their expertise, they’ll bring a host of solutions to assist with sourcing, recruitment marketing, process automation and predictive analytics, which would otherwise be prohibitively costly for most businesses.
Additionally, your company won’t need to consider implementation or training time on the software, and your recruitment partner will stay up to date on innovations in the market.
Agile, flexible Talent Acquisition
A flexible strategy for talent acquisition is essential. However, during periods where hiring volumes are higher than typical, in-house teams can become swamped by the additional workload. For recruitment teams to respond in an agile fashion, they need to be well resourced to respond to the challenges. This resource can also become an underutilised cost when spikes in recruitment decrease to normal levels.
RPO providers offer a significant benefit in this scenario as they can easily add resources as required when recruitment peaks to support your in-house team. In addition, they add a balance of experts, technology, and processes that can be scaled back once the recruitment is completed.
Finally, your RPO partner can assess your future needs and help you design a future-proof strategy.
A diverse and inclusive team
If your business is looking to attract the highest quality talent, diversity, equity and inclusion (DE&I) are critical. In a survey, 78% of individuals asserted that they want to work with an organisation which takes these seriously.
However, implementing a strategy that supports DE&I commitments takes a significant amount of time and expertise.
An RPO partner can use their experience, skill, and tools to speed up your D&EI progress, helping you to develop achievable goals and promote diverse hiring strategies.
RPO can solve the top recruitment challenges your organisation is facing, innovatively, efficiently and cost-effectively.
Interested in finding out more? Call us on 01252 624 699 or email us at firstname.lastname@example.org