"Outsourcing" often gets a bad name. But when it comes to your recruitment function, partnering with an outside expert can successfully transform your approach to talent acquisition and deliver measurable business results faster.
1. Cost Reduction
Companies are constantly looking for ways to reduce recruitment costs and increase efficiencies, while maintaining their ability to recruit the best talent. A recruitment provider delivers cost effective solutions that remove the need for expensive agencies and streamline every aspect of the recruitment process, from sourcing talent to onboarding new hires, delivering a higher quality of candidate, faster.
The right recruitment partner also increases new hire and employee retention, mitigating the significant costs associated with employee turnover.
Did you know that working with a recruitment partner can reduce your cost-per-hire by between 40% and 60%?
2. Dedicated, Centralized Recruitment Function and Expertise
The recruitment process has become increasingly complex, and you and your team may be responsible for handling this process in addition to your other responsibilities. After all, organizations are being forced to do more with less and the HR function is no exception. When internal resources are limited, partnering with the right recruitment provider allows you and your team to focus on other strategic initiatives, with the full confidence that your talent acquisition needs are being handled by skilled experts who are entirely dedicated to your organization.
3. Scalability, Agility and Flexibility
Due to the inevitable hiring peaks and troughs throughout the year, no internal team is ever the right size all year round. Attracting the best recruitment experts to work in-house is a significant challenge, and retaining them through the slow seasons is even more difficult. Recruitment providers attract and retain the world’s best recruiters because of our ability to offer progressive, global careers. That means your recruitment partner is uniquely positioned to ensure the immediate flexibility and scalability of world-class recruitment talent to meet shifting demand. Partnership allows your business to remain agile in a fluid market.
4. Recruitment Technology, Tools and Management Information
The right selection of recruitment technologies and marketing tools are key when it comes to finding the best talent. They enable you to identify and source job seekers, engage passive candidates, reduce time-to-hire and improve the candidate experience. Yet, many companies do not have the resources to invest in these technologies and tools, and when they do, often do not maximize their use. A recruitment partner will give you resources, marketing and technical expertise that would otherwise come at incremental and often prohibitive costs to your organization.
Tools and technology for recruitment evolve very quickly. Only a specialist can keep up with the latest and most relevant technologies for your business and integrate them seamlessly.
“A recruitment partner will give you resources, marketing and technical expertise that would otherwise come at incremental and often prohibitive costs.”
Furthermore, these tools also capture significant amounts of data that translate into meaningful management information reports, providing visibility across the entire recruitment process that will drive continuous improvement, innovation and service excellence.
5. Candidate Quality, Experience and Retention
A typical in-house recruitment team has a recruiter managing the entire process, which, due to time constraints and lack of expertise across all stages of the recruitment process, often leads to a decline in candidate quality, experience and ultimately retention. The right recruitment partner will create a custom team for your organization that includes specialists in sourcing, engagement, screening, assessment and onboarding. By compartmentalizing the recruitment process and providing experts in each function, recruitment partners are able to optimize candidate quality, experience and retention rates.
6. Allow HR to do HR and Boost your Team's Expertise
Technology, employer branding, planning, attraction, engagement, assessment and onboarding – only a dedicated business can be the best at it all. The right recruitment partner will allow your team to focus on other business critical objectives, safe in the knowledge that recruitment is being managed by true experts. Scheduled skill enhancement programs will ensure your HR team is up to speed on the latest tools and best practices of the trade. Whether your agreement is on a short- or long-term basis, the right partner will make sure your HR team’s skills are upgraded during the process.
7. Process Improvement and Efficiencies
Companies cannot afford to delay the development of plans and processes that will help meet their long-term workforce needs. Strategic workforce planning is what high-quality recruitment partners do best. The right partner can help you completely rethink how your organization acquires talent, and transform your talent acquisition strategy to better meet your objectives. It can do this while reducing costs, time-to-hire and creating an enhanced process for candidates and hiring managers.
“The right partner can help you completely rethink how your organization acquires talent.”
Time-to-hire can be an enormous challenge. Organizations struggle not only to find the right talent, but also to quickly onboard new hires. This can impact their productivity and profitability. Planning, process efficiencies and the use of a dedicated recruitment team that excels at identifying and overcoming negative influencers all help reduce time-to-hire. This is what you can expect a recruitment partner to deliver.
9. Employer Brand and Employee Value Proposition
Extraordinary businesses need extraordinary people. To attract the right talent, convince them to join you and inspire them to do great things, you must employ a strategic and creative approach. This approach should be insight-led, data-driven, digitally-savvy and tech-enabled. The right partner can do this by igniting your employer brand to achieve powerful results. They can also go further by helping you optimize your approach to save costs and drive greater value across your employee lifecycle, increasing your return on investment as well as your performance.
10. Added Value and Innovation
Engaging with a recruitment partner gives you immediate access to experts who live and breathe best practices, whether they are in technology, employer branding, planning, attraction, engagement, assessment or onboarding. Recruitment partners should also offer institutional knowledge that can be incorporated into your talent acquisition strategies. The expertise you gain through recruitment partnerships will improve the quality of your hiring process, reduce risk, enhance retention and ultimately, give you and your organization a distinct competitive advantage.
For more information, check out Creating the Business Case for RPO.