10 benefits of recruitment process outsourcing beyond cost and speed
The growth and the complexity of the talent market have changed the expectations of employees and employers alike. According to research, 70% of employers say that their expectations of the value employees bring are constantly growing, while a similar percentage report that employee expectations of employers are also rising.
These changes in addition to the increasing acceptance of freelance work and rapid changes in technology make it harder for companies to hire the best talent. The value of proactive hiring services using social, mobile, robotics, and analytics tools to drive long-term recruiting strategy is becoming increasingly apparent. As a result, enterprises today see the role RPOs as a strategic relationship.
Here are 10 benefits that a true RPO services provider can provide:
1. Analyse current hiring processes
To improve current hiring processes, it is essential to analyze them for effectiveness and efficiency. A technology-driven RPO can leverage analytics software to assess how long it takes your company to complete a hire or detect the obstacles in your hiring process to drive continuous process improvements.
2. Provide real-time reporting of recruitment initiatives
Smart companies always keep track of how well their RPO partners are performing and try to understand whether the RPO’s efforts are actually paying off. RPO services providers that provide real-time metrics – such as applications processed, time to fill, and candidates hired – help you estimate the ROI of your RPO partnership.
3. Leverage Big Data to streamline hiring
RPOs can help you leverage predictive analytics to streamline your recruitment processes. For example, by analyzing Big Data, they can tell you the number of potential candidates available or the time it takes a new hire to reach full productivity, to calibrate your recruitment processes.
4. Personalise the hiring processes for specific talent
The usual standardized recruitment strategy might prove ineffective in attracting highly sought after talent. Nimble RPO services providers can customize recruiting processes and create new processes quickly to target specific talent or meet specific objectives.
5. Maximise the potential of employee referral systems
Most organizations seek to exploit employee referrals to the hilt, but the results are often sub-optimal. An experienced RPO services provider can introduce the assessments, tools, and strategies required to help you maximize the potential of employee referrals and reduce costs.
6. Improve the quality of candidates
Hiring managers need to visualize what a candidate brings to the table beyond work experience and education. A technology-enabled RPO services provider can leverage social and analytics to create a 360-degree view of a candidate. In addition, by using their experience of hiring for similar roles for other clients, they can more effectively determine the right hire. This helps to hire managers to save time and costs and supports the long-term strategy of your organization.
7. Enhance the employer brand
Companies often underestimate the power of the employer brand in attracting top talent. Today, employees are ready to forsake higher salaries and perks to work for a brand that matches their aspirations and values. An RPO provider can not only offer a consistent recruit-to-hire process but also support in other ways such as providing feedback to a candidate who failed to pass through the recruitment process. Such steps go a long way in bolstering the employer brand among potential employees. In addition, an established RPO provider can provide strategic advice to improve your employer brand.
8. Ensure a consistent and predictable recruit-to-hire process
Potential employees dislike uncertainty in the hiring process. They expect to understand where they stand in the hiring process along with the future steps involved. An RPO services provider can organize and standardize the recruit-to-hire process, making it consistent and predictable across the organization. This predictability, in turn, helps streamline the recruitment process while ensuring a positive experience for prospective candidates. An RPO also helps standardize recruit-to-hire processes across departments and different entities that come under your organization.
9. Enable scalable recruitment processes
Hiring seasons can be hectic and things can quickly go out of control. RPO helps you build a flexible recruitment process that can scale up and down effectively as hiring demand fluctuates. Standardised processes based on best practices help you avoid nightmare scenarios of high demand and inflexible processes. For organizations that are growing rapidly, the scalability provided by RPO is critical to meet growth targets without pressure.
10. Provide proactive talent management services
In today’s tight labor market, businesses cannot afford to freeze hiring activities when they do not need talent immediately. Prospective candidates are always observing your company online – even when you are not hiring. A modern RPO can help you develop your employer brand and build talent communities to create a talent pipeline for future openings, using social, analytics, and mobile tools.
The value that RPO service providers offer goes way beyond costs and faster time to hire. They bring critical capabilities and resources that many organizations lack, ensuring sustained hiring success. By enhancing the capabilities of your in-house recruitment teams, RPO services providers act as your extended arm, enhancing your organization’s ability to attract and retain top talent to drive growth.