RPO is a modern HR outsource that not all companies have tried before. This article today will teach companies what they need to know before you choose an RPO supplier or their recruitment solutions. In this article, Talentnet will discuss a few of the latest RPO engagement options in Vietnam.
Defining recruitment process outsourcing
RPO stands for Recruitment Process Outsourcing and it is a form of Business process outsourcing (BPO). It is a business model in which a third party recruiting specialist (in whole or part) works to drive costs, pricing, efficiency, operation and scalability. Recruitment process externalization (RPO) is more than just vacancy. It means forming a relationship and optimizing the recruitment process for companies with both long-term and short-term outcomes – many organizations love the ease of having consultants manage the recruitment administration and keep control of all decisions on recruitment.
RPO is becoming a more and more successful recruitment solution for employers who want reliable, skilled and cost efficient access to the best talent. It provides companies with the ability to contract with an external supplier for their recruitment and other talent acquisition functions. Many businesses are seeing spiraling recruitment costs of head hunters, jobs boards and high cost increases. An RPO offers an integrated recruiting approach which is assessed for rapid turnover, cost savings and hire efficiency. All three variables are taken into account in the solution.
Profits by RPO method
Improve scalability and flexibility of recruitment
Depending on set targets and goals, the hiring needs of most companies vary throughout the year. In these cases, the amount of workers needed for optimum production in the workplace may be difficult to decide with certitude. A successful RPO company is going to expect this and deal with it easily. The recruiting process takes place on a project or on demand basis by assessing the specific needs of different employers, ensuring that the right number of qualified employees are employed to occupy their jobs at any time.
Provides transparency for companies
The level of transparency offered by the Service Level Agreement (SLA) is one of the key advantages of forming a relationship with an RPO agency. The RPO provider will share their breakdowns and measurements with companies, enabling them to understand the proficiency of the overall hiring process. It’s not something new with the traditional in-house HR team. The change is, as businesses fall short of any of the expected expectations and violate SLA, they can more strongly feedback their RPO provider.
Enhanced diversity of employees
Harvard Business Review research finds businesses that are focused on diversity tend to do well with a prior year’s market share rise of 45% and a current market increase of 70%. Diversity in workers offers new prospects, more innovation and greater benefits to the business.
Provides a exclusive talent pool access
One of the main problems facing the world employment market today is the shortage of skilled applicants to hold key positions in the business.
The effort to gain the talent required to meet corporate goals and priorities will, without the assistance of an RPO provider, become a nightmare scenario. It can be a thankless challenge to find your way through the seas of hiring firms that are promising to produce without a win-no-fee and to introduce an RPO solution can ensure a managed approach through a high-quality collaboration service. Many existing providers of RPO services possess a detailed, comprehensive pool of staff that is difficult to locate to fill critical jobs. In combination with their unique access to these widely sought-after skills, RPO’s established experience allows customers to quickly procure on-demand services for applicants.
Finally, RPO improves recruitment efficiency, when well applied, and offers a strategic edge to a company. By enhancing recruitment and recruitment, a company puts the best candidates in the right role, building an atmosphere where everybody wins: the workers are happy, management is more efficient, managers are more successfully placed and the organisation is more successful overall. At The Talentnet, we are ideally placed to offer you the best talent in our recruitment services so that our customers are completely prepared to meet their goals.