RPO - The Real Game Changer in the War for Talent

RPO - The Real Game Changer in the War for Talent

With the advent of the COVID-19, the job market has been witnessing drastic changes over the last two years. The pandemic brought with it furloughs and heavy unemployment since then. With uncertainties looming large, the situation prompted deliberations on employment-related issues such as wage support, social protection, health benefits and safety assurances for workforces.

When remote working took precedence, enterprises were compelled to address disruption by moving on to a new workforce structure based on telecommuting and flexibility. The same companies are now seeking to shift to a hybrid working model. With such rapid evolutions in the working models, it is necessary for employers to focus on redesigning recruitment strategies so that the best talent can be drawn and hired. This talent must be aligned to not just the demand of the job, but also to the organizational goals. Talent acquisition through Recruitment Process Outsourcing (RPO) can prove to a transformational solution for businesses. The positive impact of RPO is backed by the rising demand for RPO services and their providers.

Factors Driving Demand for RPO

With hard-to-find skills, need for flexibility, higher turnover and demand for higher-salaried roles, the job space is witnessing a steep fall in talent supply while the demand is constantly increasing, especially when it comes to tech talent. Apart from the increasing gap between demand and supply of talent, labor market policies and trends in diversity and inclusion are also affecting talent acquisition strategies of organizations. ??

Meanwhile, companies are also striving to boost their in-house talent acquisition teams. Among the major factors directly affecting the HR function, the acute shortage of recruiters is fast becoming a concern. Since January 2021, the need for recruiters has risen by 143% and in certain cases the recruiters’ salaries have increased by 50-100%. And while organizations are eager to find recruiters who will source other resources, there is a sense of urgency to recruit faster as the wages are rising quickly. All these factors are collectively contributing to the rocketing demand for RPO services.

Adoption of New Technology Solutions

Digital hiring has been notably implemented during the pandemic when professionals were working from home. It is still paving the way for the recruitment market today and will continue to do so in the near future. With more and more businesses investing in and leveraging emerging technologies, hiring patterns have moved towards digital sourcing, vetting and on-boarding systems.?But rather than investing in HR technology to match pace with new engagement models, it is wiser to outsource the HR function to a credible RPO expert. RPO service providers have unhindered access to relevant technologies that will bring operational and financial efficiency, making it a prudent and profitable decision to partner with an RPO provider.

RPO providers deploy the latest technologies to secure candidate data on cloud, analyze and validate their profiles to ensure they have suitable skills, aptitude and motivation to get the job done and implement technological processes to integrate candidates into your organization. If the talent acquisition departments of companies set out to explore new technologies themselves, the implementation timeframe would be far too long. Unfamiliar technology can be overwhelming, especially if your own staff – be it engineers, coders or developers – cannot keep up with the change or upgrade of technologies.

RPO experts can always expedite the process of talent acquisition for you as they have affiliations with technology providers and may also own proprietary tools and technology, some of which may be the best-in-class. With their use, they can facilitate recruitment and deployment on the basis of the need and situation of their customers.

The Role of RPO in Talent Acquisition

Other than being a convenient and cost-effective recruitment solution, RPO providers add value to businesses through strategic partnership directed towards contributing to greater business success. Its advantages extend well beyond the ease of hiring and budget optimization as they add value to overall organizational functions.

?Strategic human resource budgeting - RPO providers work back with the internal talent acquisition team of a business to develop a thorough understanding of the organization’s goals and skills required to fill in niche job roles. They are involved in the early stages of business planning and also assist with manpower budgeting, predict staffing needs and offer adaptable on-demand solutions. They also prove to be useful during layoffs and crisis, as they can accurately evaluate and strategize your needs and take informed decisions. ?

A variety of sourcing platforms –?As experts in the field of recruitment, RPO players have the capability to capitalize on their wide networks and large reach, which may also include a variety of sourcing platforms. They are able to effectively market client jobs using job boards, social media channels, websites, employee referrals, campus recruitment and training centers to attract potential candidates and access the best talent for roles in concern.?

Higher brand recall – While recruiting resources for client’s open positions, RPO also simultaneously provides a market and establishes a positive image amongst potential candidates, creating brand recall plus recognition. Furthermore, they are able to set up a talent pipeline through networking that furthers supports the organizational hiring function.?

Digital screening –?With a digital approach and the adoption of latest tools, RPO specialists store and utilize data to enable objective assessment of applicants, while keeping the process cost-effective for the organization.?

Candidate management –?An RPO provider holds in-depth understanding of a business, its objectives and functions as they represent the employer they are hiring for. This can help improve a candidate's recruitment journey, right from their screening till onboarding, to facilitate seamless end-to-end talent acquisition.

RPO is an asset in the current complex environment of recruitment. Employers seeking to source, hire and nurture top talent for special job roles must opt for RPO solutions as you not only gain access to expertise but also get convenient and cost-effective services along with value addition. To meet your hiring demands in a constantly evolving recruitment landscape, partner with an RPO provider today.

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