How To Measure The Success Of Recruitment Process Outsourcing

Recruitment Process Outsourcing (RPO) is a cost-effective and efficient solution for businesses to meet their recruitment needs. To measure the success of your RPO partnership, it is important to track the following metrics:

1.Time to Fill (TTF):

• Measures the number of days it takes to fill a job opening
• Indicates how quickly and efficiently your RPO partner is finding qualified candidates

2. Cost Per Hire (CPH):

• Determines the total cost of filling a job opening, including recruitment fees, advertising expenses and other expenses divided by the number of hires made to indicate the cost per hire
• Indicates whether your RPO partnership is helping you save money on recruitment

3. Quality of Hire (QoH):

• Evaluates the effectiveness of your RPO partnership in finding the right candidates for your business
• Takes into account factors such as retention rates, job performance, and productivity
• Indicates the quality of hires provided by your RPO partner

4. Candidate Satisfaction:

• Measures how well your RPO partner is representing your business to candidates
• Indicates the candidate's experience during the recruitment process
• Can lead to higher retention rates and a stronger employer brand

5. Time to Productivity:

• Measures how quickly new hires are becoming fully productive in their roles
• Indicates the effectiveness of your RPO partnership in finding candidates who are a good fit for the role and your business
• Reduces the time it takes for new hires to become fully integrated into their new position

To optimize your RPO partnership and improve your recruitment process, you can use the following tips:

• Work with your RPO partner to identify areas of improvement based on the metrics.
• Use the metrics to set benchmarks and goals for your RPO partnership.
• Regularly review the metrics and adjust your RPO strategy accordingly.
• Share the metrics with your RPO partner to collaborate on improvements and progress.

In conclusion, measuring the success of your RPO partnership is crucial to ensure that it delivers the expected results. By tracking key metrics such as Time to Fill, Cost Per Hire, Quality of Hire, Candidate Satisfaction, and Time to Productivity, you can evaluate the effectiveness of your RPO partnership and make adjustments to optimize your recruitment strategy. Use the metrics to set goals, collaborate with your RPO partner, and continuously improve your hiring process to achieve success.