RECRUITMENT PROCESS OUTSOURCING:
The Ultimate Guide
Time is money—and that is why many organizations now turn to recruitment process outsourcing (RPO) to assist them in their talent recruitment strategy. This guide to recruitment process outsourcing answers frequently asked questions about RPO and offers a guide to companies seeking to improve their recruiting process by reducing time to hire and delivering cost savings.
WHAT IS RECRUITMENT PROCESS OUTSOURCING?
Recruitment process outsourcing, or RPO, is a model where a business outsources its recruitment function to an external recruiter. Businesses that use RPO providers may transfer all or part of their talent recruitment. For example, a company that needs to fill specific functions requiring specialized knowledge might choose to enhance their recruiting power with a team of recruitment professionals who are experienced in those areas. The business could also choose to outsource their recruitment function entirely. Recruitment process outsourcing services give businesses greater flexibility and agility. The best recruitment process outsourcing firms, like Korn Ferry, partner with businesses to build a customizable RPO solution and fits the needs of the business and RPO management that complements any in-house recruiting team.
FIVE REASONS YOU SHOULD CHOOSE RECRUITMENT PROCESS OUTSOURCING
Every day that a company fails to fill a position is a day that they fail to operate at maximum capacity. Partnering with an RPO consultant takes away this pressure. Here are five reasons why you should consider recruitment process outsourcing for your talent acquisition program.
- Recruitment process outsourcing helps businesses find better candidates. In the rush to replace employees, a company may hire candidates who struggle with culture fit or lack necessary skills, which leads to even more turnover. When this happens—and it happens often—the talent acquisition team must then start the recruitment process all over again. RPO professionals who have specialized knowledge can build better candidate profiles and use approaches to recruiting that reduce employee churn.
- Recruitment process outsourcing adds efficiency to hiring time. By partnering with RPO professionals, companies develop smart, forward-thinking solutions to fill vacancies. This reduces the time it takes to hire the right person, bringing great efficiency into your process and getting the right hire into place faster.
- Recruitment process outsourcing reduces costs. RPO practitioners often move faster in filling a position with the right candidate, enabling businesses to maximize their resources in talent acquisition while also avoiding costly hiring gaps.
- Recruitment process outsourcing aligns recruitment goals to long-term business objectives. It is hard to find talent capable of producing the results you need. The strongest RPO strategies support your organization’s long-term goals by getting the right people in the right roles to drive results.
- Recruitment process outsourcing helps organizations improve diversity and inclusion efforts. Companies need talent that matches the complex world in which they operate. An RPO provider can optimize the organization’s hiring practices, helping the business to become more inclusive and diverse.
WHY MORE FIRMS CHOOSE RPO
In the latest Korn Ferry Talent Forecast report, 88 percent of respondents globally say they work with RPO partners to find their talent. Why are more and more firms choosing to complement their talent acquisition efforts with recruitment process outsourcing? Bec ause recruitment process outsourcing provides strategic and tactical value.
RPO consultants often act as talent advisers, offering value across all functions of the hiring process. Korn Ferry’s RPO consultants support several types of recruitment process outsourcing, including full lifecycle recruitment, blended recruitment and add-on recruitment solution services from Korn Ferry Digital. This combines the expertise of our consultants with state-of-the-art technology to streamline recruitment processes, improve the quality of hire, and optimize the hiring experience for employers and candidates alike.
Korn Ferry’s combination of technology and human capital allows RPO consultants to share detailed reporting with clients, helping our partners stay informed with unparalleled data resources, executed through innovative sourcing strategies and broadly supported by a worldwide network of recruitment process outsourcing experts.
THE THREE TYPES OF RECRUITMENT PROCESS OUTSOURCING SOLUTIONS
RPO solutions align talent strategies with business strategies to bring the right hires into your organization while reducing recruitment costs. No two businesses are alike, which is why Korn Ferry does not believe in a one-size-fits-all approach to recruitment process outsourcing. Instead, we offer customizable solutions to our customers, using three key models for recruitment process outsourcing.
FULLY OUTSOURCED RPO MODEL
In this type of recruitment process outsourcing model, a recruiting team based at the client’s site handles hiring for all roles across the business. Clients who use this model are able to focus on growing other areas of the business while leaving recruitment activities with specialists who fully understand how to align talent strategy to business goals.
BLENDED OR HYBRID RPO MODEL
In this cosourced model, RPO consultants become an extension of the client’s internal talent acquisition team. By employing a blended model of recruitment process outsourcing, companies can augment and elevate existing processes and resources to optimize talent acquisition efforts. RPO clients can also supplement their recruiting efforts with a recruitment process outsourcing provider for specific role types such as executives, or for specialized areas such as data science.
PROJECT RPO MODEL
In this type of model, a client engages an RPO provider for a specific duration or to conduct and complete a recruitment project. For example, a company could bring in Korn Ferry recruitment process outsourcing consultants to hire roles to launch a new business unit, to conduct a graduate recruitment campaign, or to build out staffing for a newly set-up shared service center.
THREE KPIS TO MEASURE THE RECRUITMENT PROCESS OUTSOURCING MANAGEMENT SOLUTION
At Korn Ferry, we focus on three key performance indicators (KPIs) that enable organizations to quantify the value of the RPO partnership:
TIME TO HIRE
Korn Ferry RPO professionals measure the time from the commencement of the recruitment process to the point where a candidate accepts an offer of employment. This shows clients how recruitment process outsourcing saves time and helps companies get the right people into the right roles faster.
DIRECT HIRING
In this KPI, we measure the number of hires recruited directly by Korn Ferry recruitment process outsourcing consultants to show how much impact we have on the process. It also demonstrates the extent to which we minimize or negate recruitment through other agencies.
HIRING MANAGER SATISFACTION
At Korn Ferry, we believe that RPO should deliver benefits not just for human resources and acquisition staff but for hiring managers as well. For this reason, we measure the satisfaction of hiring managers and aim to ensure the process meets their needs.
KEY BENEFITS OF THE RECRUITMENT PROCESS OUTSOURCING APPROACH
Working with an RPO consultant can take the stress and pressure out of the recruitment process. Here are a few advantages that you can expect from recruitment process outsourcing at Korn Ferry:
- RPO helps businesses access talent they might otherwise miss or struggle to surface through more traditional means.
- RPO opens up recruiting options in areas where a firm may lack internal expertise, for example when expanding into new business territories.
- RPO consultants excel at working in tandem with internal teams, delivering on the strategy and goals of the business, and combining additional competencies and expertise to form an integrated, holistic recruitment approach.
The benefits of recruitment process outsourcing extend beyond recruitment and into a more holistic talent strategy that leads to better retention and employment satisfaction. Companies that align and collaborate with Korn Ferry RPO consultants can expect:
- Lower employee churn
- Greater satisfaction from hiring managers
- Higher retention rates
LEARN MORE ABOUT THE KORN FERRY RPO PROCESS
Contact us today to find out more about how we source, screen, and present qualified candidates for our clients and the role Korn Ferry insights and IP play in helping us understand what good looks like.
