The world has changed. It is easy to look at how Covid has affected us on a personal level - having to wear a mask, social distancing, travel, the unprecedented school year, etc. - but what about your business?
Let's explore the different ways COVID is impacting companies' abilities to staff to appropriate levels and discuss why an outsourced recruiting solution is a great option in our current climate.
Budget decreases
Most businesses struggled through March, April, May, June and July and looked to decrease costs wherever possible. On the chopping block - travel, new hires, jobs, pay, and EXTERNAL RECRUITERS! Reducing spending on external or internal recruiters is one of the easiest and quickest ways to reduce cost. This is effective in the short term, but how do you find talent once you look to hire again, especially when the budget is still restricted?
Uncertainty / Difficult to Forecast Production
This seems to be one of the biggest issues companies are facing. As an example, one food production company shared with us that one part of their business is growing due to demand with grocers, but other areas are at a stand-still due to lack of need with schools and restaurants being closed or at reduced capacity. Many Talent Acquisition leaders are now unable to predict / project hiring past 2-3 months.
Layoffs / Furloughs & Impact of CARES Act
Unemployment numbers have recently surged to over 13%, a number we have not seen since the Great Depression. The government stepped in with the CARES Act which included an enhanced unemployment package, to assist people through these challenging times. These steps helped everyone through a rough couple of months. The good news is that quite a few companies are looking to hire again.
Working From Home / Training New Employees
An astounding number of people made the move from their office to working from home. How has this affected recruiting? Managers must adapt to new interview processes and also train new employees. This has led to slower hiring processes and indecisiveness when it comes to deciding to offer a candidate a job. Slower cycle times lead to losing the best talent.
If companies are going to survive and grow, they will need to staff their business with good people. So, let's review how an outsourced recruiting solution can help you navigate the issues above and ensure you are bringing the best talent into your organization:
An outsourced recruiting solution will solve these problems. It will give you unlimited flexibility - helping you navigate this uncertain market. Ultimately, you pay for the assistance you need! Through this solution, recruiters are assigned to a project based on the needs of the business, and we can scale up or down as needed.
Overall cost is always a concern, but now it is more important than ever. The average cost for a hire through a fee-per-hire solution is around 23%. Adding a full-time Recruiter to your team will cost salary and benefits. An outsourced solution will limit wasted resources and typically reduce costs by 35%. Your cost savings are multiplied when you combine this with the flexibility discussed above.
Experience leads to knowledge. Recruiters supporting outsourced solutions have built their careers around finding great talent. On average, our recruiters have 17 years of experience and they are in the trenches talking with candidates every day. This gives them the ability to understand the market.
Recently, our team was able to provide a customer with average salaries offered across five markets - information that will assist them in being competitive in those areas. Experienced recruiters are worth every penny. In addition to finding the best talent, they will shorten time to hire, energize your hiring process, provide you with knowledge of the markets, information on competitors, and any other data that is impacting your ability to compete for the best people while at the same time freeing up time for you to focus on other high priority initiatives.
Through an outsourced solution, you will automatically have access to tools that will expand your reach within the candidate market and help create a better experience. Artificial Intelligence (AI) enabled platforms, data reporting software, applicant tracking systems and tools to help market your business are all available and will be managed through an outsourced recruiting partner. Combine this with experienced recruiters and you are putting yourself in the best possible position to attract and hire the best talent on the market.
Not with Orion Talent! Our goal is to seamlessly integrate with your team, technology, and environment. If you have an existing one, we will integrate our team into your system. Our goal is to provide tools & technology when needed and to have our team of recruiters become an extension of your vision. This process driven approach results in an average cycle time reduction of 15 days and over 90% hiring manager satisfaction rating with our customers.
The answer is straightforward - where else can you maintain control of your Talent Acquisition strategy through a cost-effective solution that provides experienced recruiters and access to technology, while also providing flexibility in an uncertain market? Recruitment Processing Outsourcing from Orion Talent is the answer.
Discover the talent advantages and bottom-line wins of Orion Talent Recruitment Process Outsourcing (RPO). Contact us about RPO ⇓
For immediate assistance, please call Cory Kruse at (512) 904-1027 or Craig McGinnis at (512) 904-1060.
If you have questions regarding an RPO Request for Proposal (RFP), please email Alexis Phillips, or call her at 512-904-1020.
Orion Talent helps you fill 1 or 100,000 roles with the right people and the right solution, so you can build a winning team - today and into the future. We power all your talent needs through our diversity rich network of highly sought-after candidates, including an engaged community of veterans and military personnel.
