For anyone who doesn’t currently work in the industry, recruitment can seem like a minefield of different terminologies. Traditional agency recruitment, Executive Search, Talent Mapping, RPO services and Project RPO are all different types of recruitment, so what’s the difference? More importantly, which is most relevant to your company?
Well, to explain Project RPO and its benefits, firstly we need to unpack the difference between agency recruitment and Recruitment Process Outsourcing.
Most significantly, RPO is not just about recruiting for hires. An RPO agency aims to improve a company’s entire recruitment process. This can cover everything from the recruitment campaign and candidate experience, by instilling processes that speed up applications and interview times, to employer brand, using research, insight and digital marketing. As a result, RPO can be a powerful tool to change the way a business recruits and improve the quality of candidates who apply for roles.
With employment rates at an all-time high, the market is currently candidate driven. According to Talent Now, 86% of the most qualified candidates for your open positions are already employed and not actively seeking a new job. However, vacancies are also at a new record level as companies look to scale up and increase profits. Resultingly, RPO becomes even more critical as companies compete to attract the best, most suitable talent to their roles.
So, what is Project RPO?
Project RPO is precisely what it sounds like. It’s a type of RPO solution that means you don’t have to outsource all your recruitment project needs, but you can outsource on a project by project basis. Just like standard RPO, with Project RPO you transfer all or part of your recruitment processes to an external service provider. This means you get a dedicated team who effectively become an extension of your company. This way, you ensure that the candidate encounters your brand and values throughout the process.
As such, as far as the candidate is concerned, all their communication is with the company itself. Therefore, Project RPO can be a fantastic option for companies who have their own in-house sourcing team and simply need to extend their team for a specific project. Or, Project RPO can work well for companies who wish to outsource without a long term, contractual agreement.
To help you make the best decision for your company, we’ve compiled some of the best benefits of utilising Project RPO.
It’s ideal for immediate, short term need
If there is a sudden need or opportunity for your company to scale up, RPO can be used on a project by project basis. This enables your company to meet any short-term talent acquisition needs without committing to an extended, contractual agreement. This means you can meet your recruitment needs when they are most pressing while saving money when the recruitment need is slower.
Can be used for specific or specialised team growth
It may be that you want to keep most of your recruitment processing in house, but you just want to outsource one specific department. For example, if your company is opening a brand-new department. The extra work required would be too much for your in-house team, but not enough to require new permanent hires. Or, for example, your tech, or digital marketing departments may have talent gaps.
When it comes to identifying talent for specialised job roles, Project RPO can help by putting recruiters on the task who have extensive experience in recruiting for similar types of roles. Recruiters who hire for these vacancies have an in-depth knowledge of the fields they work within. This insight means they also have a keen eye for spotting the most appropriate talent, reducing the time to hire.
Project RPO is both scalable and flexible
Project RPO can be used to meet exactly what you require, whether you need to upscale or downsize the project. We all know the market can fluctuate from week to week. This can make Project RPO a cost-effective solution for companies who may change their minds on what exactly they need over time.
In this sense, Project RPO can be both scalable and flexible. For example, if a company decides they want to make more or less hires overall. An RPO provider can provide more or less recruiters depending on the need.
Project RPO is more likely to result in quality hires
Not only is it more cost effective to pay for a recruiter’s time, but Project RPO can result in more quality hires overall with better performance and potential. This is because recruiters have the time they need to invest in the project.
In becoming an extension of your company, an RPO provider can both understand and embody your employee value proposition. If your EVP is currently underdeveloped, an RPO provider can work with you to improve and communicate it. An effective EVP will ensure that you not only attract the best people but retain them.
RPO incorporates the insight and research of the agency you’re working with. So, if they’re consistently encountering a problem when trying to recruit for a role, they can utilise their insight capabilities to understand what the problem is and how to fix it.
For example, the salary stated for an opening may be below market rate and might be putting potential candidates off. In response, an RPO provider can research the market to gain insight on what salaries other companies are offering. This knowledge enables you to change your offer accordingly and gives you an advantage when competing for top talent.
Project RPO is an excellent solution to short term, future hiring or inconsistent recruitment needs. It is just as effective and specialised as standard RPO, but it can save you wasting resources during quieter times.
Utilising RPO can result in a much better candidate experience, as candidates liaise with experienced recruiters who take on your company’s brand. It can also improve your recruitment processes overall, utilising insight and research to enhance your employee value proposition. When ensuring your company makes the right hires for the long term, Project RPO could be the right route for your company to take.
To get the full picture when it comes to RPO, download our free eBook.