Outsourcing Talent Acquisition is a smart business strategy with a multitude of benefits. Also known as Recruitment Process Outsourcing, this type of recruiting is when outside experts are engaged to manage a company’s recruiting function, from the people and process to the technology platform and strategy.
The goal is to boost hiring performance, especially in five areas - efficiency, consistency, risk, expertise, and time and money. Addressing these areas should positively impact productivity and profitability.
All of these RPO benefits came into play for this Orion Talent RPO customer, a provider of IT Infrastructure Solutions to Mid-Market Businesses. Their recruiting organization was decentralized with managers in each market responsible for hiring. After implementing a full suite of RPO solutions, our client:
- Decreased Recruitment Cost Ratio (RCR) by 33%
- Exceeded Time to Fill Goal by 9 Days
- Decreased Recruitment Agency spend by $2.1M
- Reduced Turnover from over 30% to 8%
Download the case study here to see how we accomplished these metrics. And read on to see how RPO can help your organization achieve the same success.
More Efficient Hiring Practices
When a company has various employees working on recruiting without an efficient hiring process in place, results are unpredictable. This is why an increasing number of companies are turning to outsourced recruiting to streamline this process from the inside out.
RPO teams become a part of an organization’s talent acquisition team. Talent outsourcing can promote your brand and provide a top-notch, coherent experience to candidates. Working within companies’ various environments and technology, RPO experts ensure hiring manager satisfaction and accountability for results.
RPO search can also ensure efficiency by leveraging technology platforms that optimize speed and engagement for candidates and hiring managers throughout the hiring process. These resource-saving processes often include:
- Automated job posting distribution
- Employment branding and marketing
- Talent network creation
- Machine learning and job matching
- Rapid delivery of a high volume of candidates
- Automated screening, sourcing, and pipelining
- Self-service for interview scheduling
- Assessments and testing
- Automated engagement throughout the hiring cycle, improving the experience of both the candidates and hiring managers
- Onboarding assistance, learning and development
Consistent Recruit-to-Hire Process
In uncertain times, predictability is a lifeline. A prime example can be found in this case study featuring a business software company experiencing a lack of consistency and stability in their recruitment process. As you will see, RPO from Orion Talent was able to stabilize their processes and create a full-cycle recruiting model they could consistently follow. Additionally, our RPO team’s experience enabled the company to successfully recruit for niche positions. Click here to download the full case study.
The goal of RPO is to provide tools & technology when needed while becoming an extension of a company’s team. This process-driven approach results in an average cycle time reduction of 15 days and over 90% hiring manager satisfaction rating with Orion Talent customers.
While it may seem intimidating or costly to outsource your recruiting functions to outside experts, the real risk is in relying solely on In-House Recruitment. Doing so can mean you can’t scale quick enough at a low enough cost-per-hire to make meaningful recruiting decisions.
This ability to scale means you can predict your costs based on the complexity of your needs as opposed to being financially obligated to a fixed cost all the time. You only pay for the resources you need at that time, whether it be an Enterprise partnership or short-term talent acquisition projects. You are also taking less of a chance on the candidates you hire, because, with RPO, you can be assured that your system works and produces top-quality employees.
Having an experienced talent outsourcing partner is a best practice and integral to success. It is important to have a trusted partner you can rely on for insight and collaboration far beyond Talent acquisition. For an Outsourced recruiting firm like Orion Talent, our experience translates to expertise. Recruiters supporting outsourced solutions have built their careers around finding great talent.
RPO recruiters are in the trenches talking with candidates every day, which gives them the ability to understand the market. They can also work in a variety of industry and position verticals, saving you the need to train a recruiting team on specific job requirements.
This is also true when it comes to salary and benefits. For example, our OUtsourced Recruiting team was able to provide a customer with average salaries offered across five markets, enabling our client to be competitive in that area.
Experience is worth every penny. In addition to finding the best talent, outsourcing experts can shorten time to hire and invigorate your hiring process They can also educate you on the markets, competitors, and other data that will allow you to effectively compete for top talent.
Save Time and Money
RPO frees up time and resources, allowing companies to focus on other high priority initiatives. This is especially important when many businesses are experiencing budget decreases, leading to high time-to-fill, high turnover, and high cost-per-hire.
Time-to-fill is the time it takes to fill a position from the job opening to an offer. When Time to Fill is high Hiring Managers are frustrated, employees are overworked and less productivity, and recruiting costs skyrocket.
Through proper alignment, efficient sourcing, a streamlined process, and a balanced workload, RPO can reduce your Time to Fill by 30%. You can learn more about the negative effects of high time-to-fill, and the improvements possible through RPO in this infographic.
The cost of recruiting top talent is more than just money. It also costs manpower and time and often comes at the expense of quality and onboarding/development programs. But it doesn’t have to.
By identifying your goals, generating metrics, building a pipeline and employer brand, proper sourcing, and reducing turnover (covered below) talent outsourcing through RPO can reduce cost-per-hire by 35%. Check out our infographic to learn how recruiting costs are negatively affecting your business.
High turnover negatively impacts your organization in many ways. Recruiting costs, employee morale, productivity, training costs, and employer brand are all negatively affected when there is high turnover. In fact, organizational costs of employee turnover are estimated to be between 100 and 300% of the replaced employee’s salary. Recruitment Process Outsourcing can play an important role in battling this recruiting obstacle.
RPO through Orion Talent can uncover and address the reason behind your turnover. ON average, we have helped clients reduce turnover by 20%, which represents significant savings in recruiting costs. Check out this infographic to learn more about the negative effects of high turnover and how RPO can resolve them.
Get Started with RPO
Recently, a premier Orthotic and Prosthetic (O&P) Provider, engaged Orion Talent RPO services to address a decentralized, disjointed, and very expensive recruiting structure for corporate positions. They also needed to establish an employment brand within a highly competitive labor market. A full-scale Recruitment Process Outsourcing solution with all the benefits listed above was the answer.
Ultimately, our RPO strategy was able to:
- Decrease Recruitment Agency spend by over $1.5M.
- Decrease Time to Fill by 22% from 52 to 41 days.
- Improve Hiring Manager Satisfaction from 85% to 92%.
RPO through Orion Talent can elevate a company’s recruiting department with innovative solutions that deliver proven business results. With an RPO Customer Retention Rate of 93%, Hiring Manager Satisfaction Rate of 91%, average reduction in time-to-fill of 15 days, and an average reduction in recruiting costs of 35%, leveraging RPO is a smart decision.
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