Updated: Dec 21, 2020
“Recruitment Process Outsourcing” is a form of business process outsourcing (BPO) where an employer transfers all or part of its recruitment processes to an external service provider. An RPO provider can provide its own or may assume the company's staff, technology, methodologies and reporting. RPO is a partnership between a company with recruiting needs (RPO buyer) and a company with recruiting services (RPO provider) in which the RPO buyer’s brand is being promoted instead of the provider’s.
Recruitment Process Outsourcing providers can manage the entire recruiting/hiring process, or can manage one or two aspects of the process, essentially serving as an extension of the company’s human resources department.
RPO providers assume ownership of the design and management of the recruitment process and the responsibility of results. RPO is commonly needed when there is a sudden spike in the demand for employees to work on a particular project and increasing the internal HR team in order to meet this temporary demand would be inefficient and costly.
By outsourcing recruitment, companies alleviate their resources of the administrative and transactional duties involved with recruitment, allowing those resources to dedicate their time to other areas of the business.
Benefits of Recruitment Process Outsourcing (RPO)
1. Reduced Recruiting Costs
This is one of the top reasons & biggest benefit why organizations opt for an RPO solution. Many Organizations tend to expend a lot of money on Headhunters & job boards, or waste a lot of money through high turnover rates. Whereas; with other organizations; time is simply wasted in lengthy hiring processes or outdated technology. An RPO provider can reduce recruiting costs by streamlining your recruiting process and showing you how to find good candidates better and with less time and money.
2. Scalable Recruiting Capacity
Many employers go through a hiring spree for seasonal employees, then an awesome benefit of RPO is having a recruiting process in place that can scale up for the hiring season, and then scale back down at the beginning of the next year. RPO is also great for businesses that are growing rapidly, that may need extra help in scaling their recruiting volume to meet growth.
3. A Consistent and Predictable Recruit-to-Hire Process
Candidates don’t like it if they don’t know where they stand in the recruiting process; this similar problem could also plagues businesses that have multiple entities or departments, where each one could have their own hiring process. RPO can aid in getting everything together and making the recruit-to-hire process consistent and predictable for both parties and across the entire organization.
4. Increased Candidate Quality
Hiring managers know that a great applicant is much more than a combination of experience and education, but also includes personality and former accomplishments. Hiring managers who are hard-pressed for time to fill a position, or have a ton of candidates to go through, may not necessarily take a look at the abilities that determine whether or not the new hire will stick with the position. An RPO solution can get into those abilities while still looking for applicants who have the desired experience and education.
5. Increased Hiring Manager Satisfaction
The increased hiring manager satisfaction comes from many aspects of RPO; they now have a better way to evaluate the success of their efforts. They have more support from executives in the recruiting process; they now aren’t stretched so thin and are better able to do their jobs.
6. Enhanced Employment Brand
The employment brand is in essence the identity of the company as an employer, and when every other facet of the recruiting process is in place and doing well, the employment brand improves. If the hiring managers are satisfied and are working in a consistent recruit-to-hire process, then people who go through that process will only have good things to say about it and the organization as an employer. RPO helps the organization in many more ways that just cutting recruiting costs or filling positions faster. RPO can actually help a business become a better place to work.
How Recruitment Process Outsourcing in different from Traditional Recruitment?
While Recruitment Process Outsourcing (RPO) is an industry that emerged from traditional recruiting, there are a few fundamental differences between the two.
Traditional recruitment processes are designed to fill up the empty position within a firm while modern recruitment process outsourcing services tends to do much more than just simply filling up empty positions. Within RPO the concerned vendor takes care of the recruiting process as a whole. It undertakes a number of parameters into question before filling up job vacancies such as technology, turnover rates, scalability and time taken to fill up empty positions.
Recruitment Process Outsourcing understands the need of their clients to its core before going for the headhunting. RPOcompanies tend to work with their clients for a longer period of times wherein they help in improvising the recruitment process as per the changes made in the industry on the global scale.
SELLING RPO SOLUTION
The RPO industry is in a growth mode, with a multitude of different players arriving to be a part of this emerging industry. The most important thing you must ask yourself is what problem are you looking to solve for your clients?
Ø Conduct an informational Market Research with HR & Business Heads, to get an insight of their problems.
Ø Once you collate all the information, you might then want to broadly define the problem statement
Ø If you have correctly defined the problem (pain points), it means you have understood the problem.
Ø Now gather your unique skills/resources to effectively solve the problem that your clients are facing.
Ø Put together a short presentation to demonstrate the cost-benefit analysis of how your solution can benefit the company in the short / medium / long term.
Ø List down the potential objections and prepare as to how you can effectively articulate your value proposition.
Ø Understand your customer’s pain points to offer solutions that they see compelling value.
Ø Be relevant in the conversation by being in sync with the customer’s business objectives.
Ø Maintain the momentum of the sales cycle by paying and drawing attention to the customer’s pain points on how your solution can help in achieving their business objectives.
HOW WE START RPO FOR A NEW CLIENT – THE PROCESS
At Advisory Channels RPO we understand that there has to be a customized approach when it comes to effective outsourcing, which is why we take the time to understand the business challenges and provide a fully managed solution.
Ø RPO for Recruiting Firms
Ø RPO for Direct Employers
Ø RPO for Project Recruiting
RPO is a competitive advantage to every organization keen to focus on their core human resources competencies and let work pertaining to talent spotting be done by a third-party firm. Advisory Channels offers four viable plans and options to contract for RPO.
Recruiter Reports, Hiring Researcher, Candidates Profiling, Target Search
Experienced Recruiter Reports, BEI, Assessments, Psychometric Tested (Plus D)
Senior Recruiter Analytics, KPIs, Competency Maps, BEI, Assessments, Cross-Culture Adaptability Graph and Psychometric Tested (Plus C and D)
Team Leader and Senior Recruiter Analytics, KPIs, Talent Mapping, Competitive Landscape, Competency Maps, BEI, Assessments, Cross Culture Adaptability Graph and Psychometric Tested (Plus B, C and D)
RFORC RPO – FAQ’s
Ø Who are we?
Advisory Channels is a Canadian/US based Staffing and RPO services that provides a 24/7, 365-day, 360 degree follow the sun model RPO services including advice & execution support on all matters in relation to Talent Acquisition.
This is including, Talent Mapping, Competitive Landscape, Testing, Staffing etc. Also Building Role profiles, KPI’s, Background Verification Checks, Customized Leadership Recruitment Programs and cross-cultural coaching pre – post joining.
With a 40 year history and clients in Banking, Financial Services, Insurance, Broking, Securities, Credit Rating, IT, Digital Tech, Consulting, Advisory, Manufacturing, Retail, the firm has grown in scale, reputation and quality.
Ø What Services do we Offer?
ü Recruiting Process Outsourcing – RPO
ü Psychometric Testing Based Recruitment
ü Staffing for Full Time, Part Time, Contract, Temps etc.
ü Mature Work Force Job Placements and Experienced Hires Reskilling and Job Placement
ü Immigration Coaching – Jobs, Investing, Entrepreneurial, Education
Ø What RPO Services do we Offer?
ü Recruitment advertisement creation and placement
ü Application response
ü Candidate sourcing
ü CRM & ATS
ü Conducting & scheduling interviews (Multiple Levels)
ü Psychometric and behavioral assessments
ü Test Administration
ü Vendor (3rd party supplier) management
Ø What Jobs do we do RPO for?
Fraud & Risk - includes Fraud Risk Management, Operational Risk Manager, Risk Monitoring, Third Party Risk Analyst, Credit Risk (Wholesale & Retail), Security Risk Assessor, Risk & Performance, Product Risk Manager, Product Risk Policy, Enterprise Risk Management, Risk Intelligence Control, Market Risk, Outsourcing Risk Monitoring, Risk Analyst, Risk Monitoring, Trade Surveillance.
IT Services - includes, Software Developers, Application Support, Business Analyst, Project Managers, IT Control, Robotic Process Automation, Web Developer, Techno Functional Consultants, Database Management ( Oracle, Informix)
Compliance - includes Know Your Client (KYC), Anti Money Laundering (AML), FATCA & CRS, Regulatory Reporting, Legal & Compliance, HR Compliance, SOX Controls & Compliance, Governance, Risk & Compliance, IFRS, GAAP ( US / UK / India)
Capital Markets - Roles includes Equity Settlements, Equity Linked Notes, Global Market Operations, Arbitrage, Cash Equity Settlements, Listed Derivatives, Collateral Management, Corporate Actions, Trade Settlements, Reconciliation
Banking (Retail, Private, Commercial, Corporate) - Roles includes Branch Managers, Relationship Managers, Credit Analysts, Credit Administration, Collections / Recovery, Trade Finance, Treasury Sales & Operations, Microfinance, Operations
Analytics - Roles includes Predictive Analytics, Analytics – Risk Intelligence, Sales Analytics, HR Analytics, Commercial Analytics – Product Development, Insurance Analytics, Data Analytics, Pricing Strategy
Corporate - Roles includes General management, Strategy, Planning, Finance, Accounting, Taxes, Human Resources, Legal, Compliance, Supply Chain Management, Procurement, Corporate Affairs, Marketing, Sales, Analytics, Technology, IT, Alliances, Network Management
Ø How do your RPO pricing models work?
We have 4 basic plans
Annual management fee, charged monthly, plus tax which is tied to the number and cost of recruiters allocated to your business
Fee per placement (fixed fee or % of salary) payable on successful placement of the candidate
Ø What differentiates your recruitment process outsourcing from others?
ü Our emphasis on professional level hires
ü Our capacity to source talent globally on behalf of our clients, both in existing and emerging markets
ü Our willingness to customize solutions that will work for clients – whether it is a full outsource, hybrid model or project, we take time to truly understand the client’s needs and design a recruitment solution that will work for them.
ü Our focus on providing excellent relationship management & delivery on a local or global basis as required
ü All our RPO Recruiters are highly skilled TALENT MAPPERS from competing organizations and job roles.
ü Best in Class BEI based recruitment process customized to organizational competencies and personality/culture fit requirements
Ø Do we as the client retain control of the ultimate selection decision?
Yes, we find and shortlist suitable candidates, but the client retains control of the hiring decision.
Ø Do we (clients) get a say in which recruiters work on our behalf?
Yes, typically our clients co-interview shortlisted potential recruiters with us to ensure they have both the technical competency and culture fit required to recruit effectively for the organization.
Ø What technology do you recommend?
While we have experience with a range of different technologies we are not wedded to any one technology. We can work with your chosen technology, or help you choose the right technology, to suit your individual circumstances