In a challenging economy, talent acquisition teams face more obstacles as they seek to supply their organizations with top talent. In many cases, they face a shortage of qualified candidates, increased demands from the business to deliver on talent needs and limited resources to get the job done. This has created a growing demand for flexible recruiting solutions that help companies cast a wider net to find the talent they need. As a result, more HR leaders are turning to recruitment process outsourcing (RPO) to improve their hiring strategies, win the best talent and increase their market share.
Research from Staffing Industry Analysts (SIA) finds that the global market for RPO solutions grew by 16 percent in 2014. In addition, 42 percent of European buyers and 34 percent of North American buyers surveyed currently have RPO programs in place, and roughly 30 percent in both regions are considering adding such programs in the next two years. As more companies discover that their existing processes can’t address the challenges of today or prepare them for the future, RPO adoption will only increase.
Through a comprehensive RPO program, companies benefit from cost savings, standardized processes across geographies, greater flexibility in hiring volumes and economies of scale. But is that enough? Today’s HR leaders want their RPO providers to go beyond the table stakes to truly empower their organizations through innovative recruiting strategy and sourcing capabilities, analytics, employer branding, and assessment processes. They also seek RPO partners that can provide the predictive intelligence to guide strategic choices and tactical talent decisions. As more companies seek such value-added RPO, they want to be assured that their provider is capable of delivering on these goals.
So, what can companies do to ensure they get the most value from their RPO provider? Consider the following five tips:
- Think outside the box: Deciding to adopt an RPO strategy is one thing, but for greatest impact, it’s important to look beyond the basics and see how to get the best bang for your RPO buck. Are there different ways to expand the relationship to solve new challenges and create a greater business impact?
- Consult with your provider: Today’s RPO leaders offer solutions that are much more sophisticated than what was available just a few years ago. Customers aren’t always aware of all the services and expertise RPO providers can now offer, making it necessary to consult with your provider regularly to learn about their full capabilities.
- Look beyond cost: RPO buyers used to outsource strictly for cost savings; today, the focus is more on value creation. Rather than going for the cheapest program, consider which offers the best value through services like employer branding expertise, predictive workforce intelligence or technology integration.
- Expand the reach of the program: One of the easiest ways to gain additional value is to expand an existing RPO program to new businesses and geographies. Consider how your organization can benefit from such a move.
- Learn from peers: HR leaders are often more than happy to share their RPO success stories with their peers. Follow industry publications and groups to learn about how innovations and successful implementations will help to drive greater value in your program.
As the role of RPO continues to expand, it is time for companies to look beyond the tactical benefits – finding talent more cost effectively – and see how their RPO provider can be a strategic partner. Doing so will help to create an effective strategy that meets critical talent needs today and into the future.