Amid rapidly fluctuating economic activity, it can be difficult for businesses to keep up with their workforce goals. A sustainable talent strategy is essential to ensuring that companies can adapt and continue to thrive under uncertain conditions.
Recruitment process outsourcing (RPO) is a highly customizable solution that can provide employers the flexibility and scalability needed to respond to changing demands. In an RPO relationship, a highly experienced team of talent specialists manages part or all of a company’s recruitment function—from sourcing, screening, and engaging candidates to conducting interviews and extending job offers. This allows organizations to focus on their core competencies while still accessing the best talent available. In this article, we look at why RPO makes for a sustainable talent strategy in today's market.
RPO programs deliver a variety of cost-savings.
In today's cost-conscious environment, doing more with less is the name of the game. Although there is an initial investment involved in setting up an RPO partnership, the long-term costs are often lower than if an organization were to handle the recruiting process on its own. RPO providers offer economies of scale and can optimize the recruiting process to reduce hiring time while delivering quality results. In addition, most RPO contracts are performance-based, meaning that the solution provider is held to SLAs and KPIs outlined in the RPO contract, which ensures success.
RPO benefits time-to-hire and quality of hire metrics.
Time-to-hire is the average number of days it takes to fill a vacant position, and it can have a big impact on your bottom line. The longer it takes to fill a position, the more it costs your company in terms of lost productivity, missed opportunities, and employee burnout. RPO specialists can help reduce your time-to-hire by using their expertise, experience, and recruitment technology to streamline the recruiting process. They also have access to a larger pool of candidates than your in-house team may be able to reach on their own, which increases the chances of finding the right candidate quickly.
When you outsource your recruitment needs to an RPO partner, you can be sure that they will only present you with the best candidates for your vacancies. In addition to having access to large talent networks, RPO teams utilize a wide range of tried-and-true screening and assessment techniques—meaning they can quickly identify quality candidates who are the best match for your organization. Improving quality of hire will provide long-term cost savings as you will not need to constantly replace employees who are not a good fit for your organization.
RPO programs can be scaled up or down as needed.
As companies adapt to fluctuating market conditions and changing business demands, it is important that they have a flexible recruitment plan in place. An RPO program enables your organization to scale its outsourcing reliance up or down, providing you with the resources you need when you need them. When business slows down, the RPO solution can be scaled back, reducing outsourcing costs without compromising on quality or service levels.
This scalability is one of the key advantages afforded by RPO programs over traditional outsourced staffing models, and it is something that every business should keep in mind when evaluating their talent strategy. With an RPO provider in their corner, organizations gain the agility they need to succeed in today's unpredictable economy.
An RPO solution can help you access hard-to-find skills and talent pools.
In an unpredictable talent market, it can be difficult to find the right candidates with the right skillsets. This is especially the case where HR and talent teams are looking for candidates with niche skills or experience. For employers looking to gain a competitive edge, an RPO provider is a valuable partner to have on your side.
RPO teams can help organizations navigate complex talent markets and identify the right candidates for their needs. They have the relationships and networks necessary to reach otherwise hard-to-find talent pools. This means they can help you find the right candidates—fast. With a deep understanding of current market trends and competitor activity, they can also provide insights and guidance to help you make the best decisions for your recruitment strategy.
RPO providers take on the risk—leaving you free to focus on other areas of your business.
When engaging in an RPO solution, your program partner becomes responsible for finding the right candidates for your open positions. RPO providers have a deep understanding of recruitment process and are highly equipped to handle the challenges that can arise during recruiting, such as sourcing hard-to-find talent, managing candidate expectations, and meeting tight deadlines.
When you outsource your recruitment process, you transfer the risks associated with recruiting to your RPO partner—freeing up valuable time and internal resources so you can focus on other strategic initiatives. This is especially important in times of flux when every team is being asked to do more with less.
RPO clients often have access to advanced recruitment tech stacks.
When employers enter an RPO partnership, they usually gain access to an advanced recruiting tech stack that is continuously updated throughout the program. This allows employers to keep their talent acquisition processes and workflows up-to-date without incurring the costs of maintaining their own in-house tech stack.
An RPO tech stack may consist of candidate sourcing platforms, applicant tracking systems, candidate management systems, and any other software used by the staffing and recruiting team. The benefits of an advanced recruitment tech stack are many and varied, from recruitment automation to speed up the hiring process, access to a larger pool of candidates, as well as valuable data and analytics that can help inform hiring decisions. This not only keeps employers competitive, but also helps them attract and retain the best talent.
An RPO partnership drives long-term success.
Unlike other recruitment solutions that are focused on short-term gains, RPO programs are designed to drive lasting success. This is because RPO providers work with organizations to create bespoke solutions that are aligned with their business goals; by taking the time to understand an organization's specific needs, an RPO provider can develop a tailored solution that will help the organization to achieve its long-term objectives. Additionally, RPO teams offer ongoing support and guidance, ensuring that the organization continues to benefit from the program in the long run. RPO providers also have a deep understanding of the ever-changing labor market and can help organizations to stay ahead of the competition. As a result, organizations are able to attract, engage, and retain the best talent over the long term.
In today’s economy, organizations must be strategic in their approach to building a high-performing workforce. RPO is a sustainable talent strategy that can help organizations weather the storm and come out stronger on the other side. By increasing your recruiting efficacy and effectiveness, delivering cost savings, and keeping your long-term objectives front of mind, an RPO team can help you do more with less—freeing up internal resources to focus on other business priorities. As a mid-market RPO provider, LevelUP’s programs are designed to be flexible to address each client’s goals and concerns. Connect with a member of our team to learn more.