Currently, many businesses are experiencing significant disruption. Though some companies have made the difficult decision to layoff or furlough employees, others are experiencing the opposite. Organizations in sectors like healthcare, biotech, call center, and engineering are undergoing substantial hiring spikes. These companies are providing crucial services and information that people need to stay physically and financially healthy, so it makes sense that they need qualified workers fast.
In a time like this, recruitment process outsourcing can be an effective solution to scale a workforce quickly and cost-effectively. Below, I’ve outlined four reasons why RPO can benefit companies during times of disruption:
- Decrease cost-to-hire by 20%
A company’s bottom line is always critically important, and many are currently uneasy about finances. But, RPO solutions are proven to reduce cost-to-hire by approximately 20%. RPO services do this by decreasing the overall recruitment cost ratio – (external costs + internal costs)/total compensation of new hires x 100. Because an RPO absorbs the majority of the external and internal burdens associated with recruiting, it significantly lowers the cost associated with hiring.
- Shorten time-to-hire by 25%
As I mentioned, many companies are in serious need of good employees. Fortunately, an RPO provider can reduce a company’s time-to-hire by at least 25%. According to the Recruitment Process Outsourcing Association, well-qualified RPO providers can shrink time-to-hire by as much as 55%. RPO providers have access to advanced technology and entire teams of recruiting professionals, which enables them to source, hire, and onboard employees rapidly.
- Access to virtual interviewing/onboarding
It’s common for RPO providers to have access to advanced recruiting technology that allows for virtual interviewing and onboarding – both of which are currently critical. With Broadleaf’s RPO customers, we help implement and maintain this type of technology, and we also provide best practices on how to optimize virtual recruiting tools. For instance, we may advise our clients to create digital guides or videos to train new employees on the virtual onboarding process to ensure the hiring process runs seamlessly. We even help our clients create these kinds of materials when needed.
- Scale with your hiring needs
One of the primary value adds of an RPO solution is that it can be scaled up or down in tandem with hiring needs. If you need to add many employees to your workforce quickly, an RPO provider can handle full-scale, enterprise-wide hiring processes. At Broadleaf, our comprehensive team of seasoned recruiters can leverage our candidate pool of over 5.2 million individuals to meet a company’s sizeable hiring requirements. We also leverage additional talent sources, like freelancers and alumni employees, to satisfy workforce needs. Once hiring needs subside, an RPO provider can shift to handle just a portion of the recruiting process.
Business operations may be undergoing disruption. But your hiring process doesn’t have to. I hope this provides you with information you can use to enhance your workforce management and help your business continue to move forward.
And, if you have any questions about how an RPO solution could help your business, contact us today!