Competition for talent is intensifying and the rapid pace of change in the dynamic world of talent acquisition makes it challenging for companies to hire the best talent. These challenges are the driving force behind the growing acceptance of RPO solutions. Recruitment Process Outsourcing (RPO) is a fast-growing sector of HR outsourcing and the $2 billion industry is expected to expand at a rate of 9% through 2018.
Many companies are realizing that their internal talent acquisition efforts are just not enough to attract, engage and select the talent they need to achieve company goals. Do you find yourself struggling to hire the right talent for your company at the pace your business demands? If so, consider exploring RPO as an alternative. Here are four signals that could be telling you that your organization may be ready for RPO:
- Requisition Aging is On the Rise
How long are positions taking to fill? How are your requisition aging statistics trending? Are your hiring managers raving fans? If your positions are taking longer to fill, you might find a number of different factors at play. Dynamics such as below-market compensation/benefits or a weak employer reputation are outside of talent acquisition’s control; however, weak job marketing, dysfunctional hiring processes, and lack of clarity on hiring expectations can all be remediated. A slow hiring process will cause you to lose high-demand talent, it will decrease revenue and/or productivity, and it can damage your employer brand.
RPO solutions streamline and improve the hiring process so that the best hires are made as expeditiously as possible.
- High-Growth Business Strategies Are Accelerating Talent Needs
High-growth business strategies might include, for instance, rapid geographic expansion, acquisitions, or accelerated product offering expansion. Whatever the growth strategy is, talent acquisition is always a critical success factor. If a company is truly in high-growth mode, there will be significant pressure on HR to meet aggressive hiring needs, and many organizations struggle to keep pace.
RPO providers align their solutions with your organization’s vision and growth strategies. RPO leaders are adept in collaborating with your executives to design talent acquisition solutions that support strategic imperatives.
- Leaders Have Decided Talent Acquisition is of Strategic Importance
When a company is striving for growth and profitability but they are falling short of expectations, the spotlight can often turn to talent acquisition. Or, as we mention in the point above, companies proactively realize that to achieve their goals, they need a new approach to talent acquisition. How do you balance a new approach with existing teams, tactics, and expectations? Where do you go for the expertise you need to break through what’s happening today to build a better performing tomorrow?
RPO solutions give you the resources and expertise you need to achieve talent acquisition excellence, giving your senior leadership confidence in talent as a strategic advantage.
- Current Talent Acquisition Efforts are Outpaced by Volume Hiring Needs
Talent acquisition teams are often stretched thin and when faced with volume hiring needs, they are usually under-resourced. They then turn to short-term and expensive fixes, such as staffing agencies or contract recruiters.
An effective RPO solution is fully scalable and able to flex up or down depending on business demand, giving the client great adaptability as needs fluctuate. Not only does RPO give a company flexibility; it also helps save money by eliminating the need to hire full time staff or to use expensive third party resources and recruiters.
If your organization is experiencing any of these telltale signs, it might be time to consider RPO as a way to make talent acquisition a strategic advantage. Your next step is to explore RPO, to learn how it can help you achieve success, and to begin making a case for implementing an RPO solution. Click here to learn more about how to build your business case for RPO, or contact Tim Oyer, Advanced’s Vice President at email@example.com today.