Recruitment is a foundational component of positive business growth. Large businesses will usually have internal talent acquisition teams. When a company is too small or doesn’t have the resources for an internal talent acquisition team, they must consider recruitment process outsourcing.
Most people have worked with or through a staffing agency at some point in their careers. But, with the accelerated growth of the online recruiting market and new AI-based innovations landing each year, alternatives to traditional staffing solutions have arisen. Agility in the recruitment market is critical to meet the needs of the evolving industry.
The global recruitment process outsourcing market is expected to reach 14.5 billion over the next six years. In this article, we’re going to look at what recruitment process outsourcing is, how it varies from staffing agencies, and what it means for this rapidly growing market space.
Recruitment Process Outsourcing
Recruitment process outsourcing providers (RPOs) help businesses offload the recruitment cycle. RPOs are external talent acquisition providers for businesses without substantial recruiting departments.
The RPO service provider will inherit either the entire permanent recruitment process or a significant piece of it. This is dependent on the terms of the contract.
More businesses are entering into partnerships with RPO service providers because of the cost savings made by outsourcing recruitment staff. Also, businesses do not wish to sacrifice their company branding during the recruitment process. RPOs work under the business title of their client.
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What’s the Difference Between RPO Providers and Staffing Agencies?
An RPO service provider’s performance is measured on meeting quotas and pre-established key performance indicators.
The average staffing agency works on the reactive model. This means that they place candidates that come to them into pre-established recruiting funnels. Staffing agencies do not take on the role or ownership of developing a unique recruitment funnel system for the client.
Staffing agencies use repeatable recruitment strategies and name recognition to attract talent. Then they process candidates into their client’s recruitment funnel. Staffing agencies qualify candidates to a degree, but it is up to their client to give the green light to onboard a candidate.
Recruitment process outsourcing providers take over a more holistic role in the recruitment process. It is more proactive, and the RPO service provider is in charge of, and responsible for, how the recruitment funnel performs. This cycle starts with developing the funnel and ends with successful onboarding.
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Companies that enter into a partnership with an RPO service provider understand their assigned recruitment team needs an in-depth understanding of branding, culture, and company ideology.
Recruitment teams within RPO service providers are long-term and deeply involved with their clients. RPO service providers mustn’t be considered a stand-alone entity. They are operating on behalf of the company, and not an agency.
RPO service providers may operate in-house with their client or remotely. But, an RPO service provider’s performance is measured on meeting quotas and pre-established key performance indicators.
Technology and Recruitment Process Outsourcing Service Providers
RPO service providers have the opportunity to be on the cutting-edge of recruitment technology. Many SMBs cannot afford to invest in these new recruiting tools for their own needs.
AI-based recruitment technologies have changed the way online job postings are discovered. Also, they have changed how candidates are screened and qualified for jobs.
The COVID-19 pandemic has made social distancing a challenge for businesses actively recruiting. More companies will be relying on remote hiring tools and recruitment technology. Tools and tech that are not dependent on the in-office/in-person review processes.
From video-on-demand interviews to competitor sourcing, technology is driving the future of recruiting. RPO service providers are prime candidates to utilize this technology to grow their businesses and perform for their clients.
Companies that don’t have their own substantial TA departments will not have the access or the ability to take advantage of these technologies.
Jobiak and RPOs
Recruitment process outsourcing service providers are highly dependent on sourcing a high volume of candidates for their clients. The KPIs for RPOs are demanding and the recruitment teams need to source and process candidates quickly for their clients.
Jobiak can work with RPOs to better align their job descriptions data with Google for Jobs, the most powerful free job search platform on the planet. By having better-optimized posts matching the Google schema requirements and understanding how to post on Google for Jobs, RPOs can direct a higher quality and higher volume of jobseekers towards their client’s open positions.
To learn more about Google for Jobs and strategic partnerships with Jobiak, please contact us.