Exploring RPO Trends in 2020
With every new year, there are new trends when it comes to recruitment process outsourcing, RPO, and recruitment in general. This year is no different! From the latest in recruitment technology to the rise in RPO services, 2020 is bound to be a game-changer. We’ve composed a short list of changes and projected growth to look out for as you enter into another year of hiring.
Tech leads trends for another year
The latest and greatest technology leads the market in recruiting trends for another year. Similar to 2019, 2020 is all about AI, short for artificial intelligence. Although it sounds like something straight out of a science fiction movie, the need for AI and similar data continues to grow. In fact, it has become commonplace with many companies during their hiring process. By utilizing the newer technology, businesses and HR are able to seamlessly and quickly compile information and make data-driven decisions when it comes to budgets, recruitment,hiring processes and more.
New isn’t always better
One negative aspect that comes with adopting new technology in your recruiting process is finding the value. Unlike using an RPO service, technology won’t be able to 100% conform to your needs. With all of the new add-ons and bells and whistles, it can be difficult to either fully use your new technology or find what works best for your company. Looking forward this year, instead of seeing AI and technology completely take over, look for education and seminars about the technology and its potential uses to become more commonplace.
Demand for increased efficiency
Although the market of talent seems to shrink every day, the demand for quality applicants is steadily increasing. In fact, a 2018 report shows that there will be a talent shortage of over 85 million people by 2030. Thankfully, RPO services have grown in order to meet the ever-expanding needs of businesses. The reasoning for the increased use of RPO services? The global demand for increased recruitment efficiency. There is no time to slowly sort through applicants anymore. With the high demand for quality candidates comes the need for swift and effective hiring that an RPO service can provide.
Industry analysis shows exponential growth
As of recent, RPO services only account for around 5% of recruitment. However, unlike other staffing and recruiting methods, RPOs are growing three times faster. According to the Everest Group, the estimated revenue for the Global RPO market surpasses $2.8B. These numbers alone show the need for efficient recruiting service in today’s tough job market.
With budgets in place, your company may be looking into hiring in Q1. It can be difficult to not only find the right talent for your position but also to secure it. Whether you decide to use the latest in technology or decide to go with an RPO service, Skywalk Group can help. Contact us today to find the best candidate to join your team.