Top Ways RPO Companies Might Help You
Posted by: Chris Wing in Recruiting Software Blog, January 17, 2017
Top Ways RPO Companies Might Help You Cut Recruiting Costs
One of the largest expenses businesses today are facing is that of hiring new employees. When unemployment levels are low, individuals are much more likely to stick with a job they aren’t happy with because of a lack of better options. With the economic recovery taking place, more options have become available and more employees re-entered the workforce, and there has been a great deal of activity with turnover and hiring. This places an excessive burden on businesses when it comes to hiring and retaining employees. Working with a Recruitment Process Organization can help remove some of the stress and frustration involved in filling those empty positions, and save you money in the process.
Finding, vetting, and hiring new employees is an expensive process. Between the search, interviews, paperwork processing, reviews, orientation, and setting up benefits, it costs quite a bit of money to hire someone. RPO’s have streamlined every step of the recruitment process, and can handle it with significantly more efficiency than most businesses. They often have contracts with background check companies and drug testing labs, significantly reducing those costs as well.
Reducing Time Spent Searching
RPO’s can weed through applications and sort out the best candidates for the job before presenting you with a short-list of potential employees, saving you time and resources. Because they focus specifically on recruitment, they have much more experience with filtering out the best talent, as well as access to a larger pool of potential employees. You don’t waste your valuable time reviewing applications and interviewing unqualified people, and have more time to devote to your usual responsibilities.
Reducing Time to Hire
Every day that your organization is short an employee is a day with lower productivity, hurting your bottom line. Because of their experience and the speed with which they process candidates for employment, they can reduce the amount of time it takes between posting a position and having someone in a seat in your office. Getting a qualified individual into a position in the least amount of time is of the greatest benefit to all parties involved.
Good RPO companies will help ensure that the person selected to fill the position is the best fit for the job. They can also let you know if your compensation package is competitive, and help you sort out if you have the best target salary. Well-compensated employees that are in a solid position for their experience are employees that won’t be eager to leave. When you use RPO companies to help you find your talent, you’re more likely to end up with a long-term candidate, thus ensuring you won’t have to spend the money on filling the position again any time soon.
Reducing Uncertainty in Your Budget
Most RPO’s offer a fixed-price contract, so you know that you’ll be paying the same amount each month for your recruiting and hiring services. This adds to stability when the unexpected happens; like when a long-term employee suddenly turns in a notice you weren’t expecting. If you’ve got an RPO contract in place, you simply make a phone call, and they begin the process of filling the position for you. There is no unexpected HR expense or extra hours paid to someone to try and find a suitable candidate. This kind of peace of mind is incredibly valuable in such an unstable time.
Though many companies resist outsourcing HR issues, any or all of the above cost-savings should be reason enough to consider working with RPO companies to fill your staffing needs.
Author: Elizabeth Lee is an avid blogger and content marketer, deeply interested in numerous aspects of establishing and growing a successful business. Currently, Elizabeth is supporting PACK & SEND and is often found sharing her knowledge online with other professionals.