You’ve probably heard the saying, “The rich get richer, while the poor get poorer.” The reason for even addressing this topic is that companies with the correct set of talent are being seen touching the sky, while others are scrambling to keep up with their own obligations. Employees have long been stated to constitute a company’s fundamental strength. While this is true, though our experience has taught us that not the employees are the core strength, but the right employees are the core strength.
Now, when it comes to Startups, it has always been assumed that the ball is always in the court of those who are investor-ready, but is money the only factor that propels a startup into the stratosphere? Talking facts, as per a study conducted by www.failory.com, 90% of Startups succumb to survive for even 10 Years, and the biggest reasons cited for this is:
- No Market for the Product/Service – 42%
- Run Out of Cash – 29%
- Not the Right Team – 23%
Not having the right team is quoted as the 3rd most significant factor when it comes to the failure of business. Especially now, when the tech hiring spree is in full swing and acceptance of technology is growing in every industry, competition for the best talent is heating up, and more and more businesses are looking for better, more efficient ways to acquire talent without having to build an internal army of recruiters. Here comes the concept of Recruitment Process Outsourcing (RPO), whose acceptance can be attributed to the fact that giants like Tesla, IBM, Barclays, to name a few, have already adopted it for years.
Now that we all know, the majority of businesses must make the “insource vs. outsource” option in a variety of areas.
Should I enter a new market segment or buy a new business?
Should I purchase a new place or develop my own? Should I increase market share by expanding my workforce or acquiring a competitor?
Talent acquisition decisions are no different.
The debate these days is whether to outsource or insource recruitment. Should you expand your internal recruiting team? Should you form a partnership?
When it comes to outsourcing hiring activities, there are often a number of advantages, including flexibility, proactive personnel management, and cost management, to mention a few.
A good recruiting process outsourcing provider can come up with a slew of benefits, including the following:
Flexible recruitment solution: Since the pandemic outbreak, businesses have become more proactive in their search for a future course of action. As a result, flexible RPO is a good alternative for companies with long-term goals. Businesses have always required scaling up and down their hiring efforts to meet demand or achieve targets, even before the pandemic. A flexible RPO solution can help you respond swiftly to hiring spikes or scale back if your budget gets tight.
Access to expert knowledge: An RPO partner offers an additional experience to the table, allowing the team to improve internal procedures while remaining accountable.
Employer branding: RPO providers are experts in creating solutions that include comprehensive employer branding strategies. These improve the candidate experience and increase hiring manager satisfaction while attracting passive candidates and retaining staff.
RPOs do all possible to expedite and optimize your hiring process, bringing in the most qualified candidates who are most likely to succeed in a given role.
CareerXperts Consulting Talent Solutions supports businesses with world-class talent acquisition support when and where needed. Our adaptable solutions integrate cutting-edge technology and procedures into your business, so you don’t have to lose efficiency to expand your capabilities.
Interested in learning more about the benefits of an RPO partnership? Write to us at rpo@careerxperts.com to discuss.