Why Your Business Needs Recruitment Process Outsourcing
Experiencing business growth presents exciting opportunities, but it can also be costly if not managed properly. Acquiring and retaining the most qualified talent in the market are crucial parts of ensuring that the quality of your products and/or services will not decline as your business grows. This means doubling on your recruitment efforts to get quality employees that will play an important part in your company’s success. According to the combined data from Glassdoor, GoHire, and CMD Recruitment, 76% of hiring staff say that the biggest challenge they have during the recruitment process is to attract quality candidates. If you are looking for an employee that is well-rounded and will put an added value to your company, it is best to have an intensive but efficient screening process to come up with the right fit or right addition to your organizational chart.
But here’s where most businesses fail - they can’t secure the people they need because:
With the tedious workarounds during a recruitment process, doing it in-house might take a lot of your time and energy. There’s also a tendency that because of the urgency or being under pressure, you may get talent that might not be of great fit just to fill the gap.
On the other hand, should you wish to thoroughly run through everything, the influx of job applications and follow-ups can also be quite time consuming for you. This also includes the actual screening of those CVs and/or resumes as well as contacting their references for verifications.
Doing all these within your capabilities might take you some time before coming up with a top-quality talent for your company. This is where the benefits of outsourcing recruitment and selection process comes in.
Based on the report of LinkedIn, talents are 4x more likely to consider a company for a future opportunity when it provides enough (and probably faster) feedback since 52% of the job seekers’ frustration is getting a lack of response according to Career Builder.
The Society for Human Resource Management suggests that the average time it takes for a company to hire is 36 days for a talent, which can be very long especially with tight timelines. Zety, in their 2019 study, shares that a company may lose 89% of potential candidates due to prolonged screening process and you might really miss out on something big!
So why waste a chance of getting a top-quality talent when you can get a helping hand in the recruitment process?
Fortunately, innovative business models emerged to overcome these challenges. One of the most popular solutions availed by growing firms is called Recruitment Process Outsourcing (RPO). Most of the top recruitment process outsourcing companies offer comprehensive solutions to ensure that you will get only the best talents for your business. But what is Recruitment Process Outsourcing really?
What is Recruitment Process Outsourcing?
A Definitive Guide on RPO
Recruitment process outsourcing or RPO is a solution taken by businesses to manage their human resource requirements by hiring an external service provider. The RPO firms act as an extension of their client company’s human resource department who process and nurture applicants depending on what jobs are needed to be filled up.
Instead of assembling or expanding your own recruitment team from scratch, your RPO partner can save you time and resources by handling this responsibility. Aside from completing the recruitment process cycle, RPO can also help you with resource planning, project-based or high-volume hiring, and full-time recruitment support.
Recruitment process outsourcing firms act as the external human resource arm of a company. The scope of their services usually covers the searching, pooling, and screening of applicants up to interviews, job offers, and contract signing. With the end-to-end hiring solutions that an