Are you a human resources or real estate executive looking to streamline your recruitment process and increase efficiency? If so, Recruitment Process Outsourcers (RPOs) may be just what you need. These specialized companies can manage and measure recruitment activities much more effectively than any corresponding internal function, but choosing the right one can be challenging. Here are seven key factors to consider to help you identify and manage the ideal RPO for your organization.
Gain Executive Support: Executive buy-in is critical when it comes to outsourcing your recruitment function since it will impact every part of your organization. The RPO must be integrated as part of your company’s internal Human Resource function, so without executive support, the RPO relationship can quickly derail.
Set Realistic Expectations: Keep in mind that there is no perfect or magic solution. Instead of comparing Recruitment Outsourcers to an unrealistic ideal, compare them to your existing options. Begin by identifying the pain points your company is experiencing in the recruiting area and prioritizing them. Include stakeholders, a brief description of the issue, the adverse impact on the company (quantitatively if possible), and how it’s currently being addressed. Don’t make broad assumptions about your company’s current quality, speed, or cost unless you can back it up with actual data.
Include Your Entire Recruitment Need: Most medium to large companies have needs for both contractors and full-time staff. Delivery of these two services is closely related, and your company may get a bigger bang for the buck if the same provider supports both types of hiring. Other benefits may include simplicity for the hiring managers with a single point of request, contract to hire opportunities where potential employees can be reviewed on a temporary assignment, consolidated finance and accounting information, and more accurate management controls and oversight. This may also benefit applicants because they will have greater opportunity and access to full-time, contract, and contract to hire opportunities.
Establish Key Outcomes with Metrics: Establish a small number of key outcomes with metrics that relate to hiring quality, speed, and cost. Focus on the metrics and be careful not to impose your existing processes and technology on the recruitment outsourcer. As with any new process, the change management approach should include ample communication, training, and follow-up. Examples of key metrics are quality of hire and process, time to present the person who is ultimately hired, and cost.
Compile a List of True Recruitment Outsource Vendors: Identify and validate possible RPO partners through valuable articles from HRO Today and resources through the Recruitment Process Outsourcing Association. The initial identification and validation of possible RPO partners will save considerable time later.
Communicate Your Points of Recruiting Pain: Draft a list of key outcomes and specific questions to the RPO providers you identify. The more information provided, the higher the probability of a successful RPO relationship. Ask the providers to address each point specifically. Here are some questions you can ask: Why are you outsourcing the recruiting function? What is your current process? What are the average cycle times currently? What is the average cost per hire currently? How many recruiters, administrative staff members, and technology support staff do you currently have? What are the job details? What are the actual hires by source for the previous year? What are your employee referral programs? Are there any other existing relationships with Human Resources outsourcing vendors? What are your retention data and areas of hiring difficulty? What are your employment branding activities and budget? Describe the company culture.
Select and Manage the Right RPO: Recruitment Process Outsourcers have significant differences in technology, processes, staff, and approach. This is a highly consultative function, so be sure to select the one that best aligns with your company’s culture, management style, and goals. We also recommend finding one with specific experience in your industry; there is no substitute for having a ready-to-go network of professionals and recruiters with subject matter expertise in your field.
If your Real Estate Investment Trust or Private Equity company is looking for commercial or residential real estate talent acquisition expertise, contact TalentWoo today. Our expert recruiters will be more than happy to consult with you about a solution that will help your business grow!