If lower cost per hire is your ultimate goal, you may want to consider making Recruitment Process Outsourcing (RPO) part of your staffing strategy. RPO can reduce your hiring expenses by improving your time to hire, streamlining your recruitment process and placing stricter controls on your spending. How?
Faster Time to Hire
Time is money and hiring new employees takes a lot of both. From sourcing candidates to screening resumes to conducting interviews and negotiating offers, acquiring a new employee burdens your internal resources. And every day a job requisition remains unfilled, you’re wasting recruiting and budgetary resources that could be dedicated to other initiatives. Outsourcing all or part of your internal recruitment function can reduce your time to hire dramatically by giving you access to:
- A global database of screened, skilled professionals and sourcing channels that both significantly increase your talent pipeline.
- A dedicated staff of recruiting and screening professionals who can scale their volume of work with the requisition load.
- The ability to focus on final hiring decisions while leaving the less strategic administrative duties to your RPO partner.
Streamlined Recruitment Processes
How is the recruitment lifecycle at your company? Is it smooth and coordinated, or disjointed and uncoordinated? Is it consistent across organizational functions, departments, divisions and regions? If not, you may be experiencing overlap in advertising purchases and in training and onboarding procedures, as well as poorer hiring decisions and ultimately higher operational costs.
Establishing an RPO relationship gives you the opportunity to re-examine your recruitment process workflow(s) to determine where overlap, excessive cost and inefficient practices may exist. Then the RPO can help you create an outsourced model that will provide you with service levels and success metrics that exceed the status quo.
The result? Increased efficiency and satisfaction with the recruitment lifecycle, resulting in overall cost reduction for your company.
Have you ever experienced a business downturn, when recruiting needs drop abruptly? Or, have your company’s recruiting needs ever suddenly spiked due to its expanding into another product category or region of the world? Either option can be burdensome and costly. Outsourcing the recruitment function allows a company to share the cost risk of managing those resources to a business partner. RPO specialists know how to adjust resource levels to accommodate hiring fluctuations, so you won’t bear the burden of carrying unnecessary staff or being shorthanded when greater resources are required.