By Stephanie Sparks, Content Marketing Manager
Did you know more than four million Americans have quit their jobs each month in 2022? This has put real strain on the hiring landscape. It’s a scenario that HR teams are becoming sadly familiar with.
Companies are desperately trying to fill open roles. But the right candidates aren’t turning up or even applying in the first place. Meanwhile, talent teams have other high-value projects on their plates and struggle to find the time to start them.
Does this sound familiar? If you’re having trouble with your hiring, then recruitment process outsourcing (RPO) might be right for you.
What is RPO?
RPO is when an organization transfers some or all of its recruitment process to an external partner.
Leading RPO providers, such as NXTThing RPO, work with clients to meet their recruitment needs. This might include leveraging an enhanced recruiting approach, augmenting recruiting support, or optimizing talent acquisition technology. They can manage a broad spectrum of recruitment, including end-to-end, project recruitment, front-end recruitment, or recruiter augmentation solutions. They don’t just take what you’re already doing off your hands, they augment your recruitment capabilities and maximize your hiring outcomes.
The very best RPO providers not only assist you with your current hiring issues, but they also enable scalability on an on-demand basis. Simply put, as your hiring challenges evolve, no matter the scope, RPO can help you meet them. Having the security of trusted hiring specialists supports your company in adapting to fluctuating hiring conditions whenever the market shifts. And, if you ever find yourself needing to fill several roles at once, RPO has got your back.
You’ll have a dedicated team of recruitment specialists at your disposal, ready to head out into the talent market and find the very best candidates for you.
Which Industries Have Success with RPO?
As mentioned, the latest BLS data reported 11.4 million job openings, showcasing just how many roles need to be filled in the U.S. That said, there were only 6.6 million new hires.
With so many open positions across multiple industries, it’s important to understand which verticals are best suited for RPO. While recruitment process outsourcing can work for virtually organization, it is especially a strong fit for companies in competitive talent markets, with high-skilled roles, or those roles with high employee turnover. Specifically, RPO works extremely well for:
- Pharmaceuticals
- Bio Tech/Bio Medical
- Manufacturing
- Technology/IT
- Consumer Goods
- Retail
- Automotive
- Professional Services
Higher volume industries—such as warehousing, manufacturing and retail—typically see more no-shows in their applicants. But RPO providers can ensure they interview the right amount of people to create a robust candidate pipeline. That way, new talent can step right if required.
Experienced RPO providers understand the hiring landscape across different industries and have built robust talent pipelines in each of these verticals. With this expert knowledge and recruiting ability specifically tailored for each industry, they can adapt their search accordingly.
Why These Industries?
These industries have fierce competition for roles. Companies that work in these verticals need scalable hiring, which RPO offers. These are also high-pressure industries, so outsourcing recruitment frees up more time and resources for talent acquisition teams to focus on other value-added initiatives. What’s more, hiring cycles in these industries may vary in response to seasonal needs, ramping up for product innovations, or introducing new departments.
Leading RPO providers, like NXTThing RPO, blend innovation, technology, and human connection to find hard to reach candidates. Recruitment process outsourcing not only targets active applicants out there, but they also tap into those passive job seekers that make up 75 percent of the workforce.
They can handle growth in various verticals and have broad reach and flexibility to scale as your business grows. And as hiring needs of the business change, an RPO provider can respond accordingly.
What are the Benefits of RPO?
Outsourcing your recruitment has many benefits. It takes the complexity and demand away from your hiring teams, streamlines recruiting efficiencies, reduces overall hiring costs, and ensures a higher quality of candidates.
Let’s take a deeper look into how RPO can benefit your business:
#1: Finding Top Talent
It’s tough finding the right talent for your roles. In very specialized industries that require highly qualified individuals, such as pharmaceuticals and bio tech, finding the right fit is key.
Not only that, but employee retention is important to consider, as bad hires can cost companies thousands of dollars each year. Finding hires that grow into long-term employees, however, takes a lot of time and resources.
With RPO on your side, you’ll have a dedicated team doing the hard work for you. RPO experts leverage their personal connections and technology to seek out the best hires and build a deep talent pool.
They also make sure you hire a diverse team to build a more inclusive workforce. Diversity and inclusion are key components in the modern hiring landscape. According to LinkedIn, the number of roles advertised that mention diversity and inclusion increased by 71 percent globally. Companies with diverse teams are far more likely to outperform their less diverse competitors. It’s also proven that a diverse workforce leads to higher employee satisfaction, which boosts productivity.
#2: Enhancing Scalability
A good RPO provider builds hiring infrastructures that can scale up to widen your search if needed. This is particularly useful for industries, such as retail, where stores might take on large numbers of staff when opening a new location, or for seasonal hires.
Large-scale hiring projects historically put huge amounts of pressure on HR professionals. If hundreds of roles open very quickly due to a new department, it’s easy to become overwhelmed. With RPO on your side, you can do this effortlessly.
You’re not just making a payment to get one problem fixed, you’re engaging in an ongoing service with a trusted partner. As you progress, your organization’s hiring needs will change. Working with an RPO provider means you’re always ready to meet these new challenges.
#3: Improving Cost-Efficiency
RPO is more cost-effective than your in-house hiring processes. This is because RPO providers find permanent hires as quickly as possible, ensuring requisitions don’t remain open for too long.
Leaving a role unfilled costs organizations money. This is a problem exacerbated by The Great Resignation.
Not only that, but working with an RPO is also more effective if you are spending a lot of money and time on recruitment advertising. Outsourcing the process hands over the task of attracting talent to the provider, meaning you streamline your costs and improve overall cost per hire.
#4: Leveraging Employer Branding
We know the value of powerful employer branding. It’s what makes your company stand out compared to other organizations. Sometimes it’s easy to forget that hiring top talent is a two-way deal. Not only are you looking to fill the role, but you’re also trying to prove to a job seeker that you’re the right company to pick. In fact, 75 percent of active job seekers are likely to apply to a job if the employer manages its employer brand.
RPO providers can help you craft an expert employee value proposition. This allows you to highlight your company to attract the best applicants. Using their industry experience, recruiters will embed themselves into your employer brand and recruit on behalf of your organization and its values.
#5: Freeing Up Talent Teams
Outsourcing puts a lot of the strain off your hiring teams. Knowing that your entire recruitment process is in safe hands allows talent teams to focus on the projects that add more value. And the fact that scalability is possible means that RPO doesn’t just serve as a short-term solution, but an ongoing partnership that aligns with business goals.
This is a benefit for all industries, but particularly those that need to devote large amounts of resources to long-term business strategy, such as manufacturing and retail.
Recruit Efficiently with RPO
The global recruitment process outsourcing market is set to grow at a compound annual rate of 18.5 percent from 2020 to 2027. It’s obvious that companies are realizing the value it can bring to their organizations. With hiring becoming more challenging during the time of high resignations, RPO is a logical step to alleviating the pressure.
If you’re feeling the strain of The Great Resignation, perhaps it’s time to consider a leading RPO provider like NXTThing RPO.
NXTThing provides end-to-end recruitment, which can support your entire recruiting process—all the way from opening a job to onboarding new hires. NXTThing can also work to nurture candidates, manage candidate communications, schedule all your interviews, and manage all the details of the recruiting process. Or it can manage just a portion of your recruiting function to help augment your capabilities.
Get in contact with us today to find out how RPO can take your recruiting efforts to the NXT level.