ROI of recruitment process outsourcing: 10 Ways to make the case
September 1, 2016
Remember when candidates applied for a job by dropping off their resume, in person, to a company representative? Believe it or not, this was standard practice for candidates and employers just a few years ago. While this may still be common for some industries, it is much more common nowadays for the hiring process to begin virtually.
With the advent of the internet, social media and – more recently – the ability for employees to work virtually, employers need their recruitment efforts to align to applicants' expectations and needs. But how do you do that when you have only a few people on staff to do the vetting? The answer is in a strategic partnership with a recruitment process outsourcing (RPO) provider.
Here are 10 reasons why RPO solutions are good for your business and its bottom line:
1. With An RPO provider you have more feet on the street
With RPOs, you have a dedicated recruitment team that not only focuses on getting the best person possible for a position, but also functions as a strategic partner in your industry and the recruitment landscape. By embodying your brand and breathing your culture, an RPO provider acts as an extension of your HR department by focusing on finding talent you need to sustain growth.
2. Greater outreach
When you have recruiters who are only focused on talent acquisition, you have time to connect with resources that otherwise wouldn’t be tapped. Colleges, workforce centers, community organizations and networking groups can all prove to be fruitful pools from which to pull qualified talent. This creates a search that is more passive than reactive for candidates, and proactive for you.
3. A better fit
As true experts, recruitment teams from a recruitment process outsourcing provider have more time to interview and ask probing questions that ensure a candidate is the best fit for the position and the organization. Hustling candidates through the hiring process without analysis, transparency and engagement causes negative effects for both employer and candidate.
4. Attrition costs are astronomical
With the tools, expertise and seamless vetting process RPO solutions can offer, the right candidates are placed strategically to save money and build a proactive pipeline for future workforce needs. This means your year-over-year hiring costs will reduce and continue to improve over time.
The ability to scale based on varying hiring requirements is key when an organization must hire a large amount of talent quickly. RPOs have the staff to support the needs, and then can easily scale back to a typical recruiter/vacancy ratio when things return to normal. With the help of talent communities and pipelining, RPOs are able to ramp up hiring much faster than a typical in-house team.
6. An extension of your brand
When you have an RPO working for you, you don't have to give up your identity. RPO recruiters work as an extension of your company, using your logo and branding. This gives candidates a more fluid and less confusing experience when applying.
7. A better candidate experience
Candidate experience is one of the most crucial aspects of the recruitment process today. A positive candidate experience can ensure future success for an organization's bottom line, provide candidate referrals and improve employee engagement. On the other hand, a negative candidate experience can be detrimental to your company’s success. An RPO partner can provide candidate experience best practices, insight and expertise – which is key for attracting top talent.
8. Branding. Branding. Branding.
Eighty-six percent of consumers say that authenticity is a key factor when deciding what brands they like and support according to Stackla. This easily pours into what brands potential candidates choose to apply to as well. A proactive employer brand is necessary in today’s competitive environment for talent. Working with a partner who can provide key insight, brand as your company and market this brand/culture to candidates is not a "nice-to-have," it's a business imperative to stay competitive and fill in necessary talent pipelines.
9. Customized solutions
RPOs have the capability to make your company better and provide the services that will make recruitment operations run more smoothly. RPOs don't just handle the hiring process, but have the experience working with a variety of companies and solving a number of challenges, and therefore can bring best practices back to you and show the ROI of your investment.
10. A true partnership
Many RPOs have the capability of hiring recruitment consultants anywhere in the world. You have the very best recruiters supporting your company, because they aren’t limited to your geographic region. You can depend on talent acquisition specialists who know their industry, and apply knowledge and experience to your recruitment efforts. And if you need on-site recruiters, RPOs can do that too!
Times are changing, and we have to get smarter when it comes to adding to our workforce. We simply cannot sustain new business models with old talent acquisition strategies, expecting to take our companies to the next level.
Shantelle Kane is a recruitment consultant with WilsonHCG. Her passion for recruiting began more than 10 years ago. She has recruiting experience in a variety of industries including health science professions, nursing, physicians, sales, accounting and finance, manufacturing, and human resources. Shantelle has been featured as an industry expert on Fox Business, KSTP TV in Minneapolis and community development panels throughout Central Minnesota. She graduated with a degree from Eastern Michigan University, and has served on the Board of Directors for the Central Minnesota Society for Human Resource Management.