What is Recruitment Process Outsourcing (RPO)?
In today’s fast-paced business landscape, attracting and retaining top talent is paramount for any organization’s success. Recruitment is a critical aspect of this endeavor, but it can be costly, time-consuming, and resource-intensive. This is where Recruitment Process Outsourcing (RPO) comes into play. RPO is a strategic solution that has gained prominence in recent years as businesses seek to streamline their recruiting processes. In this blog, we will explore what RPO is and how it can benefit organizations.
What is RPO?
Recruiting Process Outsourcing, or RPO, occurs when an employer turns the responsibility of hiring over to a third-party provider. The RPO method is designed to attract qualified talent to an employer with little involvement from HR staff. Companies looking to hire can contact an RPO provider like Live Assets to handle recruitment efforts.
How does Recruitment Process Outsourcing (RPO) work?Â
Typically, RPO services begin with an agreement that includes the project’s scope, timing and costs, as well as other stipulations.
Next, the company’s hiring team and the RPO service provider meet to discuss the criteria of roles to be filled or created. The recruitment agency can then advertise the job openings using their methods and recruitment tech.
As the resumes come rolling in, the employer can review the candidates and work with the agency to revise the job posting as necessary. After the screening process, the RPO team will identify the top candidates and liaise between the candidates and the employer during the interview process.
Different Types of Recruitment Process Outsourcing (RPO)Â
Function-basedÂ
This model, also known as project RPO, involves the provider handling only a portion of a company’s recruiting. For example, the RPO might only staff a company’s IT or engineering department.
Recruiter-on-demand
Recruiter-on-demand is a model where the RPO handles recruitment efforts for an extremely short service or project.
End-to-endÂ
The provider takes over all recruitment-related responsibilities, from attracting candidates
to conducting existing interviews. Companies that use this model typically partner with an RPO provider for an extended time.
Benefits of Recruitment Process Outsourcing (RPO)Â
Cost and time reduction –Â A prominent benefit of RPO is the lower cost per hire. Successful in-house hiring costs people, time, resources and money. An RPO provider can manage all the necessary resources and roll them into one cost.
Improved candidate experience – Due to the efficiency and customization that RPOs offer, potential candidates are more satisfied with the hiring process and more likely to recommend your business.
Scalability – RPOs have the tools and knowledge to predict how your company will expand or retract over time. RPOs can use this information to scale your staff accordingly for unexpected events.
Strong quality hires – After their screening process, RPOs will shortlist candidates, providing you with the best of the best.
Employee retention – turnover can cost you 100-300% of the lost employee’s annual wages. Partnering with an RPO provider is an efficient way to minimize this problem. RPO can help you pinpoint obstacles causing higher turnover and work with you to find solutions to increase your retention rate.
Diverse opportunities – Outsourcing partners can allow businesses to find and hire underrepresented talent and thus diversify their teams.Â
The Best IT Recruitment Agency in Toronto | About Live Assets | IT Staffing Solutions
Live Assets is a boutique IT Staffing/Recruiting firm specializing exclusively in building IT teams of excellence for the Information Technology sector.
We are a small, but productive team that works closely together and has had a 96% success rate for the past number of years!
We have a diverse number of clients and industries and focus on both full-time and contract I.T. opportunities.
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