RPO is growing. As competition for the best talent increases, more employers are looking for a solution which helps them acquire talented people, quickly, and in a cost efficient way. The value of the global market is estimated at $5bn and analysts predict continued double digit growth. So what exactly is RPO and what are the benefits of an RPO solution?
What is RPO?
Recruitment Process Outsourcing (RPO) relates to the outsourcing of a company’s recruitment function to a specialist provider. As the market has become more sophisticated, the traditional end to end RPO model has been complimented with a variety of flexible RPO models, including:
Your RPO provider will work in partnership with you to design and deliver a recruitment process which supports your business goals.
What can I expect?
Early RPO models were transactional in nature with a clear focus on sourcing candidates and the administration of the recruitment process. Today, a typical RPO service will incorporate:
What are the benefits of RPO?
The main benefits associated with RPO are:
The control of costs is a strong driver for all types of outsourcing, in particular first generation RPO contracts focus on the cost savings associated with reducing recruitment agency spend and reducing the time spent by internal HR on recruitment.
Volumes of recruitment are rarely consistent, RPO provides the scale to manage peaks in activity without affecting the business or increasing costs.
In a talent driven market, a slow hiring process puts companies at a significant disadvantage. Dedicated resource, slick processes, the effective use of technology and proactive talent pooling allows RPOs to find talent faster.
RPO providers adopt your culture, become experts in your organisation and promote your employer brand. This combined with dynamic candidate attraction techniques helps to identify and engage the best passive candidates.
Innovation is often a key driver for 2nd and 3rd generation contracts. RPO providers have access to the latest talent acquisition tools and the expertise to help you navigate through the adoption of new technology.
RPO providers track and trace every stage of the recruitment process. Whether you are looking to understand time to hire, sourcing channel effectiveness, hiring manager satisfaction or the diversity of your talent pool, you will have access to real time information.
Want to find out more? Speak directly with an expert: