Process outsourcing is nothing new to the corporate world where it has increasingly gained popularity based on how it has continued to help organizations to thrive by focusing on their core competencies. Likewise, reports confirm that Recruitment Process Outsourcing (RPO) has globally elevated by increased percentages and that it will gradually reach a rate of 17.6% by 2028. This emphasizes the future demand to be expected for recruitment process outsourcing in the market. It is argued that changes in the global economy due to the impacts of COVID-19 are among the key reasons for this gigantic growth rate. Let’s get into the detail of what recruitment process outsourcing is and how it can impact the success of a business.
Key Reasons Why RPO Is Better For Your Business
Scalability and Customizability in Solutions
The flexibility an RPO offers in scaling up or down based on your requirements is one of the top benefits a business can experience. Similarly, RPO service providers usually have multiple engagement models that a company can pick and choose the ideal fit that suits them best. These engagement models usually have options to customize according to a company’s specific needs and hiring objectives to be achieved. A competent RPO service provider will identify these requirements and recommend the suitable model along with the customizations that the company needs.
Advanced Tech-Infused Screening Methods
Candidate screening is one of the most hectic and time-consuming tasks in recruitment. Thanks to the evolved technology, the screening process has been revolutionized with the use of AI. This automated process infused with Artificial Intelligence is capable of screening large candidate pools based on provided requirement criteria. RPO service providers nowadays use AI-based screening to speed up their recruitment process and deliver qualified profiles faster.
Psychometric and Performance-based Assessments
Just as how RPOs are a step ahead in candidate screening, they pay extra attention to maintaining a process that is thoroughly driven by data. This is done by involving performance-based assessments and psychometric testing procedures in their recruitment process. Assessing psychometrics is an ideal approach to identifying if a candidate is a good fit for a particular role. Generally, psychometric tests include questionnaires to test candidates’ personality, critical thinking, IQ and EQ, verbal reasoning, and specific skills that are relevant to the job role. Based on the facts and skill requirements the company provides, an RPO partner is able to provide candidate profiles that match all the given criteria.
Actionable Data and Insights To Make Better Decisions
A competent RPO service provider fully operates in a data-driven environment that is supported by cutting-edge technology solutions. As a result of this, the recruitment decisions they make are totally based on real-time data metrics and accurate analytics. The assurance of reliable service is guaranteed by detailed insights and information from actionable data provided by the RPO company. This valuable information eventually helps organizations to make better hiring decisions based on accurate facts.
Reducing Turnover Rates
Increasing turnover can be a terrible situation for an organization that can negatively impact multiple ways. There are possibilities that glitches in the recruitment process can be a valid reason to increase the turnover rate in a company. Generally, employees tend to leave when they do not fit into the company culture, or when the assigned job role is not corresponding to their competency or skill levels. Drawbacks as such can be eliminated by working with a reliable RPO partner who has the potential to understand a company’s working culture and competency requirements of specific job roles.
Lets You Focus On Your Core Business
Last but not least would be the benefit of saving time, costs and efforts to be invested in the core competency of the business. Based on the facts brought out in the article, it is certain that recruitment can be an overwhelming task full of hassle. It is a guaranteed fact that all the unnecessary effort and expenses utilized in recruitment can be drastically reduced or eliminated by involving an experienced RPO service provider. This allows a business to focus on its core competencies that grant enhanced competitive advantage in the corporate world.