beyond cost savings: the 9 benefits of RPO.

RPO has evolved. An recruitment process outsourcing (RPO) program providers a cost-effective and convenient way to attract individuals with the skills you need. And as many organizations find, the business benefits of RPO extend well beyond the recruiting budget.

why companies embrace RPO

Today’s sophisticated RPO programs have evolved past the goal of filling seats as soon as possible. An RPO acts as a true extension of the business and a key partner in determining a strategy to achieve company goals. From helping to shape a company’s employer brand and attracting more great talent, to using talent analytics to continually improve and streamline the hiring process, RPO can have a positive and transformational impact on the entire business.

what are the business benefits of RPO?

Whether new to RPO, or looking to get even more value out of an existing program, here are some of the numerous benefits the right RPO program can deliver.

the 9 benefits

  • expanded talent pool.

    Today’s market is plagued by talent scarcity, making it more difficult to engage with and attract qualified candidates, especially those coveted passive candidates. Global RPO providers typically have extensive databases of candidates, enabling greater accessibility to the in-demand talent a company needs to achieve its objectives.

    But it’s not just improved access to more individuals; RPO providers have the sourcing expertise and proven methodologies to ensure quality candidates are matched to their clients’ crucial positions.

  • employer branding expertise.

    Still, getting access to quality talent is only part of the equation; just as important is projecting the company in ways that make the right candidates want to work there. HR leaders might not always have the time and resources to clarify their company’s employee value proposition (EVP), or they may lack the internal expertise to deliver a robust employer brand strategy.

    RPO providers can fill this void, researching a company’s brand and competitor positioning, aligning employer brand strategy with company brand and vision, and developing recruitment communications tailored to that messaging.

  • ensuring compliance and mitigating risk.

    Complying with existing regulations around the hiring process – and staying up to date with any changes – can be a challenge for any busy organization. At the same time, things like neglecting to train hiring managers on how to conduct an interview properly can have significant repercussions on the business, both financially and in the company’s overall ability to attract talent.

    RPO helps in this regard by mitigating many of the risks that can result from non-compliant hiring practices. With an understanding of local and international labor laws, RPO providers are well versed in navigating complex legal requirements and helping employers develop compliance-focused, low-risk hiring strategies.

  • best practices for greater efficiency.

    Centralizing processes through an RPO program can also bring a rigor and  effectiveness around recruiting that might not be achieved through internal resources alone.

    As RPO providers work with clients  across the globe, they understand the best practices to drive optimal results,  such as making Six Sigma training a  standard part of the talent acquisition  function, encouraging more diverse hiring and creating a personalized approach to  deliver a more positive candidate  experience.

  • enhanced speed of hire.

    According to the 2016 SHRM Human Capital Benchmarking Report, the average time to fill for an open position is 42 days. The more positions that remain unfilled, the less equipped a company is to execute on business objectives, respond to shifting market conditions and keep up with or surpass the competition.

    RPO providers solve this challenge by working closely with hiring managers to understand specific job requirements, while also implementing service level agreements (SLAs) requiring requisitions be processed within tight time frames.  Combined with rigorous screening and assessment, as well as streamlined offer presentations and onboarding, the result is a quick and efficient hiring process.

  • benefit from the latest technologies.

    One of the most important priorities for talent leaders today is to keep up with talent innovation. Randstad Sourceright’s 2018 Talent Trends Report found that 87% of organizations say talent  innovation has enhanced the attraction, engagement and retention of talent. Yet, limited budget and resources can prevent employers from benefiting from new technological advancements.

    RPO providers deliver on this imperative, as they are in tune with the latest technologies to enhance hiring outcomes and continually invest in new solutions and platforms to help their clients find needed talent.

  • greater flexibility and scalability.

    Hiring needs fluctuate throughout the year, and RPO providers are geared to scale their  solution models accordingly.

    As a result, arrangements like project RPO or recruiter on demand (ROD)  continue to account for a significant portion of the RPO market, especially for organizations that find it difficult to forecast their needs or those experiencing rapid growth.

  • improved workforce diversity.

    Research from Harvard Business Review shows companies that focus on diversity tend to perform better, with 45% reporting market share growth from the previous year and 70% capturing a new market.

  • better insight through analytics.

    Adjusting talent strategy with business growth and demand is crucial to a  successful hiring program, and RPO partners have the sophisticated technology and data science experience to deliver on this need. Through predictive talent analytics, RPO providers can apply historical data to reveal future trends and needs, while also helping businesses understand performance metrics, conduct more effective talent supply and demand modeling, and correlate metrics to business performance outcomes.

    As a result, an RPO can transform talent data into business intelligence, ensuring  employers will fill positions with right-fit  candidates and helping inform business  decisions – such as where to open new  operations – that depend on availability of resources.

elevating recruitment through RPO.

Cost efficiency has long been the main priority in recruiting programs, and a key reason businesses choose to adopt the  RPO model. But as companies often find, the advantages of RPO include much more than financial savings. RPO  has the power to fundamentally transform each stage of the talent acquisition  process, resulting in a streamlined, efficient and fully optimized  recruiting strategy that drives measurable business impact.

download the RPO playbook.

To learn more about how RPO can help transform your recruiting strategies, download Randstad Sourceright's RPO Playbook, a practical guide to answer your questions and help you get started.

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