One talent pool and many takers! America has an unemployment rate of just 3.6%. With employers competing to obtain the best recruits, talent hunt is nothing short of war. For small and medium businesses, plagued with such challenges as inadequate resources, lack of market access, inappropriate prioritization, etc., the challenges of recruitment only add to their woes. So how to ensure a perfect match between talent expectation and talent recruit; outsource full-cycle recruiting process.
Today, recruitment strategies are exceedingly KPI driven, and most full-cycle recruiting partnerships are defined by technology and business process consulting. Data transparency and data analytics form the core of these partnerships. Along with the data-driven approach, more emphasis is also being given to delivering positive recruitment and candidate experience. The information imparted, the medium through which it is imparted, how clearly it is imparted, and the rate of the recruitment process, etc., all form an important aspect of recruiting experience. For the candidate, the company culture, the job position expectations and its compensation package, future growth prospects, etc., are important determinants. Outsourced full lifecycle recruiting functionalities and strategies tend to:
SMEs can either outsource some aspects of recruitment such as resume sourcing and background checking or the entire end-to-end recruitment process as a whole to a single vendor or multiple vendors. However, maintaining multiple vendors can throw up challenges like putting SMEs under a financial strain, improper collaboration, process delays etc. Hiring and managing in-house recruiters could also be quite an expensive and time-consuming proposition, add to this the risk it would bring in the prevalent volatile jobs market.
Thus, outsourcing to a single offshore RPO partner is a beneficial proposition since it facilitates easy collaboration between the vendor and the SME HR manager, and gives the recruitment agency added agility and scalability.
The basics of outsourced full-cycle recruiting
Simply put, in this strategy one vendor is tasked with carrying out every step of the recruitment process. Thus from creating a job advertisement to ensuring its visibility through the appropriate channels, preselecting candidates and managing their joining formalities; all aspects of recruitment are dealt with professionally by a single RPO expert.
Also known as 360 recruiting, the full cycle recruitment process comprises the following steps:
Preparing a well-defined job description with the job responsibilities and requirements accurately mentioned also forms part of this stage. It should also contain information regarding the salary, perks and other benefits attached to the position. A brief note about the company culture and growth roadmap further helps attract good applicants.
These form the guidelines that define talent acquisition with respect to the job requirements.
The second part of this process includes conducting negotiations with the candidate if he or she is not happy with the offered hiring terms. The negotiations at this stage need to be handled delicately and with special care.
Benefits of the outsourced full-cycle recruiting process
Outsourcing full lifecycle recruiting is extremely beneficial for small and medium businesses. The advantages and benefits that they enjoy are:
Additionally, having a single point contact for the whole recruitment process makes a candidate feel comfortable. Communication is the key to recruiting good talent but recruiting “black hole” is a common experience with most candidates. The recruiter by failing to communicate with a potential candidate loses him to other competing companies. Offshore full-cycle recruitment agencies ensure regular, transparent high-touch communication with the candidate. Thus, the likelihood of losing out on top talent recruits is minimal.
Offshore recruiting agencies such as QX RPO Solutions aid recruitment agencies worldwide through precise implementation of technologically advanced and expert hiring solutions.
The implementation of the outsourced offshore recruitment model, however, increases the visibility of the job requisitions and postings made. Additionally, with job advertisements becoming creative, crisp, precise and informative, a number of suitable candidates applying for the position increase. This enables recruiters to make a good selection within a short time span, thereby saving the company quite a lot of money.
Additionally finding the best candidate for a position is the biggest challenge most recruiters and sourcers face. This challenge is even greater for small and medium companies. However, with the support of RPO expert, you get to work with a specialized team of candidate sourcing experts. They are process-driven and proficient in attracting active and passive candidates, thereby increasing the probability of landing purple squirrel (the perfect-fit candidate) and boost your CV sourcing capability.
The implementation of this strategy is a great way to upgrade, revise and revamp the current recruiting policy. Thus small and medium companies can have a risk-free set-up and set to become successful in the talent acquisition landscape.
The implementation of offshore full life cycle recruiting support helps SMEs to improve their job prioritization, professionalism, revenue generation and ensure better ROI. But for SMEs to benefit from the advantages stated above the choice of the RPO agency is critical. Recruitment Process Outsourcing companies that offer customized full-cycle recruitment solutions, that are technologically data-driven, and can process niche as well as large scale applications are the employment agencies to look at.