Recruitment can be an uphill battle. Recruiting the right candidate at the right time is often a complicated process. And then having to support them throughout the onboarding process? It’s not easy. Today, effective recruitment relies on both automation and personalization—and that’s where RPO comes in.
That said, here are 15 facts you need to know about RPO:
- RPO stands for recruitment process outsourcing, which is a service that alleviates the burden of recruiting high-quality candidates for a complex workforce.
- RPO is classified into two categories: Enterprise RPO and Segmented RPO.
- Enterprise RPO is a full-service solution where an RPO partner takes on all the recruitment responsibilities for an organization.
- Segmented RPO is a service that splits the recruitment process between the organization and the RPO partner.
- Organizations often lack the level of expertise to make the right recruitment decisions; it can be difficult for the average HR professional to match the best candidate to an open position.
- The hiring process goes beyond exploring local geographies, which means recruiters need to understand the talent market scenarios and industry trends of other countries. However, most HR professionals lack this understanding.
- RPO fills in the gaps that often go uncovered by your regular, everyday HR Department; RPO services prepare companies with the intel they need to expertly navigate the job market.
- RPO is one of the fastest-growing markets in the world.
- According to a study by the Everest Group, the RPO market has shown consistent double-digit growth since 2013; the RPO market has grown from $1.8 billion to $3.3 billion.
- RPO is traditionally used to save costs, scale talent requirements, and reduce the risks and costs involved with the hiring process. However, technological advancements are creating new challenges for recruiters.
- A sudden shift in the job seekers’ market is making it difficult for HR pros to forecast future hiring requirements. Fortunately, advanced RPO providers leverage advanced market analytics and industry trends to mitigate new hire attrition.
- In India, sectors such as BFSI, pharmaceuticals and healthcare, IT, semiconductors, and automotive have all turned to RPO providers.
- RPO providers can help organizations align their future strategy for workforce planning by offering accessibility to popular industries, as well as insights from trends and analytics.
- RPO providers are proven to help organizations make critical analyses, such as how to choose between permanent and temporary staff, how much lead time is needed to fill a position, and what demand generation will be with respect to the futuristic trends.
- When business leaders employ RPO services, they can access dashboards, view snapshots of the talent market, and articulate the problems related to the supply and demand of the market.