According to a recent survey by LinkedIn, nearly 70% of workers comprised of Millennials and Gen Z'ers stated that they planned to leave their jobs in 2023. Practices like "quiet quitting" and The Great Resignation can stifle a business's productivity. High turnover rates can also result due to ineffective onboarding procedures.
The hiring and recruitment process is rapidly changing. Companies must adapt to keep up with current trends and find qualified candidates. But it seems like the modern workforce is not up to par. Recruitment Process Outsourcing Companies may be the answer to these common issues.
A Recruitment Process Outsourcing Company can help take the guesswork out of hiring qualified candidates. They take over and handle the complex elements of the recruitment process like sourcing and interviewing candidates.
Keep reading below for 12 things you need to know about Recruitment Process Outsourcing Companies.
1. Recruitment Process Outsourcing Companies Offer Specialized Expertise
Businesses have enough on their plates as it is when it comes to managing many of the daily aspects of running a successful company. A good business understands the importance of recruitment outsourcing.
By utilizing recruitment process outsourcing companies, you're tapping into a service that has the specialized knowledge and expertise needed for the best recruitment processes. They stay up to date on all the latest trends specific to your industry, including salary benchmarks and total talent availability.
RPO companies also possess expertise in candidate screening and evaluation. They use tools and methodologies like comprehensive assessments to identify a candidate's strengths and weaknesses, as well as any skills that can be an asset to your business.
Recruitment process outsourcing companies can also streamline and boost the efficiency of the hiring and recruitment process. These practices allow them to source the best possible candidates for you.
2. RPO Companies Are Time-Saving
Time is money. This is especially true when it comes to the recruitment process. Job vacancies need to be filled, but unnecessarily rushing to fill this void too quickly can backfire.
The average time-to-hire is 44 days. This number can vary based on the specific industry of the job and the skills and experience needed to fill the position.
The longer a position remains unfilled, the more money it can cost your business. This can also impact your cost-per-hire.
Thanks to their streamlined services, Recruitment Process Outsourcing Companies can help you fill these vacancies much faster. They also have access to targeted candidate databases that can help them narrow down the search process.
Optimizing and standardizing many candidate assessment and screening workflows can reduce the overall time-to-hire. While on the other hand, the targeted databases allow them to search for qualified candidates to fill specific job-based skill sets.
3. Provide Cost-Effective Solutions
Recruitment Process Outsourcing Companies save your business money in several different ways. First, by reducing the time it takes to hire a qualified candidate. Filling a position quicker can result in cost savings from shorter job vacancies.
Another way RPO companies can save you money is by reducing turnover. It's estimated that by the year 2030, the United States will lose around $430 billion annually due to employee turnover. By finding candidates who are a good fit for your business from the start, this can also help you reduce hefty turnover costs.
You can also save money since you don't need to rely on an in-house recruitment department. RPO companies may even offer flexible pricing options such as tiered pricing based on the number of hires required. There are also pay-per-performance pricing models where you only pay based on successful results and not solely on provided services.
4. Implement Employer Branding
Having a good employer brand is essential for creating a good first impression among potential hires. Research shows that businesses with a positive and reputable brand can receive 50% more qualified applicants. Just as a candidate must be a good fit for a business, a business must also be a good fit for any prospective job seekers.
Recruitment Process Outsourcing Companies can help shape and enhance an employer's brand. They can focus on elements like brand consistency, ensuring that your business's brand, logo, and voice are uniform across all recruitment channels. An RPO works to tailor stories and messages about your brand's values, mission, and work culture on social media and job platforms.
Another area where a recruitment process outsourcing company comes into play is through market research. They conduct surveys on your behalf to see what the general perception of your brand is. A dedicated RPO company then addresses any areas in need of brand reputation improvement.
5. Integrate Advanced Technology Processes
Technology can be a saving grace in many industries. The ability to track and manage data can greatly enhance efficiency and organization. Recruitment Process Outsourcing Companies can do this through advanced Applicant Tracking Systems (ATS).
Applicant Tracking Systems allow RPO companies to manage and track candidate applications. This can improve the overall efficiency and organization of the recruitment process. There's less worry that a potentially qualified candidate may get lost in the shuffle of a manual candidate selection process.
Advanced technology also permits the use of automation for more repetitive tasks. Some of these tasks could include:
- Interview scheduling
- Background checks
- Data entry
- Pre-employment assessments
- Candidate matching
- Job posting and distribution
Automating certain tasks allows the RPO company to focus its efforts on other vital aspects of candidate sourcing and selection. The combination of technology and human expertise working in tandem elevates the overall recruitment process.
6. Accommodate Scalability Needs
RPO services have flexible resources at their disposal. This means that they can adjust team sizes to accommodate varying recruitment needs. Doing so enables businesses to scale up or down to meet their specific requirements.
Scalability is ideal for smaller or medium-sized businesses looking to grow, expand, and hire more employees. It also works well for seasonal hiring for businesses that may need to hire more employees during peak times of the year to meet higher personnel demands. Likewise, hiring can also be scaled back during slower periods to save on employee costs.
Recruitment process outsourcing can handle the recruiting needs of various business sizes without the need for significant internal restructuring. So, whether you're looking for just one high-quality executive candidate or you need to staff an entire department, you can trust a recruitment process outsourcing company to have the resources you need.
7. Aid in Compliance Management
An RPO company is well-versed in current employment laws, regulations, and industry standards. This ensures adherence to ethical and legal standards in several ways. For example, compliance management relates to areas such as:
- Data and Privacy Protection
- Fair Hiring Practices
- Anti-Discrimination Policies
- Internal Policy Adherence
- Background Check Compliance
- Identity Screening Standards
RPOs maintain compliance in all areas of the Background Checking and Screening Process. They handle this data in accordance with all regulations and privacy laws. This helps safeguard candidate data and protects potential employers from facing fines and legal action in the event of a data breach.
For international hires, RPO companies assist in verifying work authorizations. This ensures that the recruitment process complies with immigration laws and regulations.
RPO companies also work to ensure Equal Employment Opportunity (EEO) Compliance. This promotes a fair and inclusive recruitment process. This practice considers candidates based on merit and qualifications.
8. Prioritize a Positive Candidate Experience
An RPO company is able to maintain a high level of professionalism in all areas of communications. This may include areas like verbal communication and written correspondence. It also involves any interactions that can occur with candidates during the assessment and interview process.
RPO companies also provide timely feedback before, during, and after the recruitment process. This includes clear communication about what to expect for assessments and interviews for a more comfortable candidate experience. For instance, what is the format of the interview, and what is required for it?
RPOs can handle candidate accessibility accommodations. This ensures a smoother recruitment process for those with diverse needs and disabilities.
Even if a candidate isn't ultimately selected for a position with your business, they will likely still have a favorable opinion of your brand. This results from the positive experience provided by the RPO company.
9. Deliver Data Analytics
With the recruitment process comes a wealth of data relating to areas like the candidate experience. This can provide your business with actionable insights.
You can analyze data to assess the performance of your recruitment channels. For instance, you can see data on social media engagement to gain insights into your brand's online presence. This helps you evaluate the effectiveness of your recruitment marketing efforts.
This data can also be used to measure the cost-per-hire and the source's effectiveness for finding qualified candidates. An RPO company can supply valuable candidate experience metrics such as:
- Time-to-Apply data
- Application Completion rates
- Offer Acceptance rates
- Candidate Drop-Off rates
- Post-Hire surveys
- Diversity analytics
Data-driven insights from RPO agencies allow you to make the best decisions for your business's hiring needs. RPO companies can then implement these decisions on your behalf to optimize the recruitment process.
10. Emphasize Continuous Improvement
RPO companies believe in offering and emphasizing continued improvement opportunities to the clients they serve. One way they can do this is by establishing and monitoring key performance indicators (KPIs). KPIs allow an RPO company the ability to see which recruitment strategies are the most effective and which may need improvement.
An RPO company also utilizes performance reviews and feedback to assist in the service evaluation process. Feedback not only includes client insights, but candidate and business manager reviews as well. All of this data is fundamental for helping the RPO company address the best strategies for improvement.
Recruitment Process Outsourcing Companies also strategically align their strategies to meet the goals of their clients. An emphasis on continued improvement means they are always open to refining the recruitment process in order to meet their clients' unique business objectives.
11. Help to Navigate a Global Reach
Recruitment Process Outsourcing Companies aren't just localized to a set area. A good RPO company is one that has a global reach. This is particularly beneficial for businesses that have multiple international locations.
If you have an office in Japan and need to find talent to fill a position there, a recruitment process outsourcing company can access their global database of international talent. This can ensure a smooth transition for finding qualified international candidates. Tapping into a global talent pool is also crucial for building up a workforce with an emphasis on diversity and inclusion.
On the other side of the world, this practice can also help find the best talent around the globe who may be willing to relocate for an international job opportunity. In the event that a person needs to relocate for a job across the world, an RPO company can assist with managing work visas, international compliance, and other legal considerations.
12. Allow for a Focus on Core Business
With many aspects of the recruitment process being managed by a recruitment process outsourcing company, your business can then focus on managing other core business activities.
For example, HR teams can focus their efforts on Human Resource initiatives. This can include areas like employee engagement and talent development. It also allows for a focus on cultural enhancement in the workplace.
Recruitment Process Outsourcing Companies also reduce the administrative burden of your in-house team. There's no more need to micromanage areas like posting job ads and coordinating interviews. You also don't need to worry about managing multiple files or stacks of resumes and applications.
Using a recruitment process outsourcing company helps you lighten the load. You're leaving the talent acquisition and recruitment process in the hands of skilled professionals. This, in turn, lets your business and your employees thrive.
Elevate Your Business's Recruitment Process With Hire Velocity Today
Recruitment Process Outsourcing Companies can benefit your business in many ways. From candidate sourcing and screening to application tracking and more. An RPO company helps you manage the recruitment process from start to finish.
If you're struggling with ineffective hiring methods, you need Hire Velocity. Hire Velocity understands the challenges businesses face when searching for quality candidates. We also know how important it is to find the right fit for the job the first time.
Let our expertise elevate your business's recruiting and hiring needs. Take your hiring and recruitment process to the next level by contacting Hire Velocity today.
