Recruiting in Recession
Posted on Mon, Nov 23, 2009
We all know that cutting costs is one of the biggest goals of companies in the current recession. But does this mean cutting the quality of talent at the same time? The good news is that it does not have to happen this way! The solution is recruitment process outsourcing (RPO). This relatively new process involves outsourcing your human resources department to an outside party who in turn searches, filters, interviews and presents possible candidates for specific opportunities. Whether you are a large multi billion dollar company looking for a CEO or a mid market company searching for an account executive, RPOs can help you find the right candidate efficiently, effectively, and most important economically.
Pulled from an online source, the following are the greatest attributes of an RPO firm:
QUALITY TALENT: Providers of Recruitment Process Outsourcing have the required processes, expertise and an extensive database of resumes and the networking required to source all types of candidates.
COST SAVINGS: RPO is cost-efficient and helps organizations save up-to 20-30% of recruiting costs. It clearly reflects savings in the per-hire cost parameter in the HR budget.
RECRUITING FOCUS: RPO model allows the company’s managers and human resources staff to focus their efforts on the company’s core business while also ensuring a supply of high-quality staff members for all positions.
SPEED: “Time to hire” is a very critical factor in the recruitment process. A Recruitment Process Outsourcing (RPO) provider will find it much easier to analyze their database and create a pool of candidates that is ready to be interviewed.
ACCOUNTABILITY: The RPO contracts are built on top of tight service levels where the payouts are proportional to the performance of the vendor. This brings accountability and partner approach to talent acquisition, which is essential for the overall success of both the parties.
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(http://s-2.info/talent-management-in-the-times-of-downturn.htm)