As the talent market is succumbing to the pressure of the under-qualified candidates and there is an increasing gap between skills and vacancies, organizations, big or small, are moving towards RPO firms to help them find the most fitting candidates for their organization who can help enhance their productivity and efficiency.
Per a statistical report, the RPO market is expected to grow at a rate of 21.13% during the year 2018-2022. The figure is telling enough. Businesses need RPO firms to help them steer ahead with a qualified base of employees to ensure productivity.
Wondering how RPO firms help businesses find top talent?
We are here to help you reaffirm your decision on switching to an RPO firm over getting this done in-house:
1. COST-EFFECTIVE:
Unlike your in-house team, which lacks the resources, tools, and technologies, an RPO firm brings with them the required tools necessary for finding and hiring the right individual or team so that you do not have to spend a dime on buying and maintaining tools and software.
Furthermore, RPO strengthens employee retention as they devise and implement strategies that ensure a reliable candidate is hired, and engagement is ensured. This further helps save money otherwise spent in poor hiring quality, long vacancy period, and increasing turnover market.
2. SCALABLE:
RPO firms have to hire, board, and provide staffing solutions for businesses across different scales. This is why they are well equipped with the tool, technology, and professionals who devise customized strategies that can be scaled up and down depending on the requirement, without compromising on the speed and quality of hire.
3. MINIMIZE VACANCY TIME:
The more time for which the position is vacant, the more money the company is losing. This is where RPO firms help. An RPO model comes with strategic planning to minimize the vacancy time as they have a talented pool at their disposal who can quickly fill in the vacant position. RPO firms ensure quality hiring, without taking too much time so that the company doesn’t lose on revenue.
4. BOOST EMPLOYER BRANDING:
Since RPO firms come with exhaustive solutions that holistically help the recruitment and hiring in an organization as well as manage all the recruitment aspects, this directly impacts the bottom line, which further helps in strengthening the brand position in the industry and market.
RPO firms further make sure that the candidates coming in for an interview or joining onboard has an engaging experience. Organizations understand the importance of candidate experience in building or breaking the reputation of the company. RPO firms ensure that the branding of the business is significantly improved.
5. INCREASE REVENUE:
RPO firms boost talent acquisition, which further strengthens the bottom line that is reflected in the accelerated revenue. RPO firms act more than just a vendor but a partner in helping the organization steer ahead with a talented workforce that guarantees productivity and efficiency.
6. ENHANCE MANAGEMENT:
If given the freedom, RPO firms can re-engineer the entire recruitment and hiring division to suit how the organization function and is expecting the quality of the result. This way, RPO firms play a pivotal role in streamlining the operational management of the company and creating a new working design which they follow for better output.
7. CUT DOWN ON ADVERTISEMENT COST:
With an RPO firm by their side, they businesses don’t have to advertise their brand, as the RPO firm will take care of advertising your business and attracting new talent, instead of businesses chasing the candidate.
8. ENSURE SHAREHOLDER ENGAGEMENT:
RPO firms guarantee regulation compliance, provide periodic tracking and analytics reports that give insight for prompt decision making in the right direction. By fulfilling service level agreements, they guarantee the efficiency of the recruitment process.
With improving candidate experience, enhancing employee engagement, and boosting the bottom line, RPO firms ensure leadership and management are enhanced, which peak shareholder’s engagement in the company’s operation.
If you operate a business or find your organization struggling with finding and keeping a workforce that contributes to their growth, it’s a clear sign that you need to reach out to an RPO firm. But before you just settle down on a quote with just any RPO firm, we would share some key factors that you need to look into before deciding on an RPO which are:
9. EXPERIENCE:
Whether or not they have demonstrable experience in rendering recruitment and hiring service in the particular industry vertical you are serving in. An RPO should be backed with the experience of having helped in sourcing, screening, hiring, and onboarding candidates for businesses, successfully.
10. TRANSPARENCY:
Do they only talk or can back up their words with strategies that can materialize your goal of finding the right fit? Are they clear on how the whole process will be implemented and communicated with the organization? Will they work as a vendor or an extension of the business?
11. FEE:
Do they have different packages depending upon the period of services they are rendering? Is there any hidden cost? You need to make sure that you know of every penny that you are going to pay and are not suddenly surprised with a hefty bill annually, without any explanation.
12. OPERATIONAL MODEL:
Do they have a flexible operational model that can be changed with custom requirements? Enquire what their service level agreement is, how do they assign the work to their people, what is the turnover rate. This will help you gauge whether or not the RPO firm will be able to deliver the desired result.
13. SERVICES:
Check when they say exhaustive service providers, in which all services are included. Do they only proffer end to end recruitment or will help with staffing, dedicating company resources, third party vendor management, compliance, auditing, tracking, and reporting. You need to be especially clear on this part before you sign any binding contract.
We have explained in all possible ways an RPO firm can help your business, regardless of the industry and scale, find the top talent. Now it’s on you to keep the factors mentioned above in mind to decide on a well-informed RPO firm that will fit your budget and deliver on goals.
