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If you choose to outsource your talent acquisition function, you would be engaging in Recruitment Process Outsourcing (RPO), which is the mechanism by which an organization outsources all or a part of its recruitment processes to a third-party provider. So, should you be outsourcing your talent acquisition function?
With talent shortages in fields such as IT, engineering and analytics continuing to grow, companies need to find more efficient ways to attract and engage the best talent from around the world. RPO can be one of the strategies implemented by your HR department to achieve these efficiencies. Critically, it allows organizations to outsource their recruiting activities, saving time and money, while improving hiring quality and retaining control over essential hiring decisions.
Talent Acquisition Outsourcing: Some Key Considerations
If organizations outsource the management of their talent acquisition supply chains to a third party, they can focus on their core value-added activities within the chain and allow suitable vendors with specialized skills to handle the rest. Figure out where your HR team excels and maximize that benefit! Let your outsourcing partner handle the administrative aspects (sourcing, screening, onboarding etc.), while you maintain control of all mission-critical aspects of the process, such as which positions to fill and how they will be filled.
The abovementioned pros are particularly applicable to organizations experiencing a high volume of hires or those in the midst of hiring for critical positions. It can also be pertinent for small to medium sized businesses that are looking at outsourced solutions to reduce the costs of talent acquisition and retention. Finding reliable offshore partners can be incredibly useful in this instance: their access to foreign talent and skills may be just what your company needs.
Creative hiring solutions are also available. It is not always necessary to hire your resources directly. You can have an entire, hand-picked outsourced team, sitting offshore, delivering best-in-class solutions to your company across divisions such as sales, customer service or IT, for example, without having to "employ" anybody directly.
Strong Indications that you Should Consider Outsourcing Talent Acquisition
(1) You need to reduce the "time to fill". This is the amount of time it takes to hire an appropriate person, measured from the first time you advertise an open position or ask a service provider to fill a position for you.
(2) You have an increased number of candidates applying for positions due to an increased hiring demand. You may need help managing all applications and/or candidate interviews.
(3) You have too many open positions and not enough talent to fill those roles. In this scenario, exploring an entirely new offshore candidate pool can be useful.
(4) One or more critical positions need to be filled quickly. Cast your net as wide as possible, maybe by leveraging the networks of others.
(5) The current cost of hiring in your local market is high and/or increasing. You may find the same skill level at half the cost elsewhere.
What to Look for When Choosing an RPO Partner?
Traditional recruitment companies only source talent and place that talent in front of you as potential candidates. If you decide to engage in RPO, you should look for a provider that offers more than just that. Seek out a flexible provider with all of the traditional aspects of a recruitment company, plus additional solutions and flexibility. Useful additional attributes or solutions may include:
- A partner that cares about cultural fit and takes the time to learn who you hire and why;
- Payroll and/or employer of record services for foreign hires;
- The provision of IT equipment and/or office space to speed up onboarding and resource activation;
- Ongoing consulting and employment management to ensure quality and longevity of resources;
- Recruiter on demand services to assist with periods of high volume and hiring demand.
Key Takeaways
· Companies may want to consider outsourcing all or a part of their recruitment processes to save time and money.
· Outsourcing your talent sourcing process can be a good strategy to use when hiring for specific roles or looking for foreign talent.
· It is important to make sure that the chosen supplier understands the company's culture and hiring objectives.
· Look for RPO partners who offer more than just traditional recruitment services.