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RPO is becoming an increasingly popular hiring solution for employers who want access to the best talent in an efficient, professional and cost-effective way. Below are 5 ways your organisation can benefit from working with an RPO:
Improves your Employer Brand
Glassdoor found that 69% of job seekers are more likely to apply for a role if the company actively manages its employer brand, demonstrating the importance of a strong company reputation and its ability to attract applicants. RPO can have positive impact on your employer brand if the recruitment process is handled well – leading to high levels of candidate satisfaction. Word-of-mouth is an extremely powerful medium and good candidate experience will only look good to other potential candidates looking to work for your organisation, being able to communicate your company’s culture and values during the recruitment process is a great way to strengthen your talent pipeline.
According to CV Library, over 50% of businesses spend up to £5,000 per new recruit which means hiring the wrong person can be a very costly mistake. Possibly the biggest advantage of RPO is it’s cost-effectiveness as it helps companies save money in the long-run and cuts costs by streamlining the recruiting process. Not only are recruitment experts skilled in finding the right candidate so staff retention rates are kept high and you don’t have the setback of having to re-hire, filling vacancies fast reduces the amount of HR resources spent on sourcing candidates which can be used elsewhere.
Prior to appointing ResourceBank as an RPO, Northgate Vehicle Hire were responsible for their own recruitment, but since partnering with us in 2011, the cost of recruitment for Northgate has reduced dramatically, going down by 45%. The payment structure agreed with ResourceBank is simple and transparent, making Northgate’s budgeting very straightforward.
Reduces the time-to-hire
As the saying goes time is money – the longer a vacancy remains unfilled, the bigger the risk it can have on an organisation’s performance. Statistics from HR Magazine shows the average hiring process in the UK takes 27.59 days, however, 54% of businesses have lost out on a qualified candidate because their hiring process took too long. The combination of industry expertise, technology and recruiting insight from implementing an RPO means the time-to-hire can be dramatically reduced and your vacancy is filled before it can disrupt your company’s productivity.
Stronger quality of hires
According to Jobvite, 65% of employers believe talent shortage is the biggest challenge when it comes to hiring. Attracting and sourcing talent aligned to your EVP is a central element of RPO, actively promoting your brand and engaging with talent in a genuine way is the best way to gain the interest of both active and passive candidates – the rigorous screening and tailored selection processes leads to a positive impact on the quality of candidates selected and ensures the candidate hired is a perfect fit for the role.
The beauty of RPO is that it’s flexibility to accommodate every situation and can be modelled to fit an organisation’s hiring requirements – it can be scaled up or down according to the fluctuating recruitment demands of the company. Seasonal demands and new projects can create urgent hiring needs and organisations can suddenly find themselves understaffed. World Duty Free for example, first approached ResourceBank back in 2007 when the business needed to recruit more than 150 new team members for the opening of its new ‘flagship’ store at London Heathrow Terminal 5, since then, the scale and complexity of recruitment for WDF has increased and we now recruit 1000 new team members into the business each year.
Resourcebank’s approach to Recruitment Outsourcing is to provide a bespoke resourcing partnership service designed to suit the individual culture and needs of you business. We provide a dedicated resourcing team who will form an integral part of your organisation, representing you in the best possible way and communicating with candidates and hiring managers as your company’s own talent attraction department.