As one of fastest growing industry, Recruitment Process Outsourcing is spreading its wings at a rate of 10% by the year 2019 and the present stands at a present market value of over $2 Billion. This sector is flourishing due to the combined efforts of social and global media, greater completion for skilled talent, rebounding economy and the desire of most companies to focus upon their core competencies.
Although RPO is a must have asset for any company yet the question arises whether it fits the bill for all the companies in question. The answer to this question lies in having the apt frame of mind, focusing upon the right solution for the company and most importantly selecting the most befitting RPO partner who understands the requirements and both long term as well as immediate goals of the company. As such, a company needs to have a comprehensive idea and a clear strategy for their hunt for talent acquisition and how RPO could be a turning point in the entire process.
For determining the above, the primary factor to consider is whether the company’s internal, recruiting resources are efficient and effective to handle all the operations/ secondly, is there a pressing demand for hiring and whether it requires real time metrics and analytics. These apart a company mostly seeks to decrease its costs per hire and enhance its time to fill capacity, turnover, and also improvise of the candidate quality and increasing the hiring manager satisfaction. All of these can be easily achieved with the assistance of a resourceful and dedicated RPO partnership.
A company also requires carving out the right solution that best applies for their company. As discussed earlier most RPO solutions fall broadly into three or more categories mainly short term or project RPo involving specific hiring for projects within a time frame, long term for a larger hiring requirement and complete or comprehensive RPO program which understands and undertakes complete outsourcing recruitment functions of the company. All these models are commonly offered by almost all RPO providers however some companies have unique requirements and a perfect RPO provider should be able to cater to the extraordinary needs of the organization. As such, it is critical to collaborate with an RPo provider who genuinely understands the company’s talent acquisition strategy and proffers a solution that is best suitable for that strategy.
Finally while considering the criteria for your RPO partner, reckoning on the size of the RPO provider is also an attribute whether you require a large RPO provider with global recognition or a local provider with hands-on experience and potential, things that also need to be are technology applications, cost structures, capabilities, commitment to partnership as well as cultural alignment. It is also significantly important to be engaged in conversations at all levels of the company, including recruiters and account managers in the RPO prospects can be a sensible decision as these individuals will be supporting the account on an on-going basis to understand and relate how they are operating.
RPO is here to stay and will evolve with each generation of worker, it will enhance and develop into more sophisticated programs in the years to come. Rpo providers have to respond to HR leaders as they demand more ease of programs and as such the providers are responding by developing solutions that best incorporate social media, data analytics, employer branding, workforce planning and the most creative sourcing technology. For making, the most out of your RPO partnership engaging with an RPO provider who offers customized solutions to enhance the organizations capacity to improve and organize its talent acquisition will be a good choice.