Ways to Reduce Cost Per Hire Through Alliance RPO Solution
RPO- Recruitment Process Outsourcing is the outsourcing of talent acquisition activities to an external expert at fixed RPO prices. The major success of RPO is linked to their roles in business growth. RPO solution helps you establish a sustainable business through a strong control of talent acquisition costs and outcomes.
Before considering RPO, employers are keen to know about RPO costs or recruitment process outsourcing pricing. Would the RPO charges justify the investment and really help reduce cost per hire? Let us find out the answers in this blog, which will give you the right information about RPO, recruitment process outsourcing fee structures, and how it reduces the cost per hire.
What Are Recruitment Process Outsourcing Solutions?
1. Getting Recruitment Managed By Expert Recruiters Of A Global Recruitment Agency
Finding the right candidate for projects and all operational needs is key to achieving high levels of productivity, quality, and performance. Recruitment is, however, a time-consuming process when managed internally. It also does not always yield good outcomes leading to a wide range of problems for the company.
RPO allows you to outsource all the tough, time-consuming, and challenging recruitment activities to expert recruiters with wide industry experience in manpower sourcing and hiring for the positions you want filled. They attract 10x more candidates and can generate quality applicant pools for any position within a short time.
By hiring the services of a global RPO agency, you can build powerful remote and cross-border teams that help you take your business to the next level. You will be paying a fee per successful hire based on the recruitment process outsourcing fee structure you decided with the RPO agency. The recruitment process outsourcing fee structure is based on a certain percentage of the salary as per industry standards.
2. Source Talent From Richer, Wider, Diverse Talent Pools – Onshore And Global
Talent is everywhere, but you must have the right outreach and network to find the right talent for your business. Many businesses do not have resources for market mapping talent and finding access to quality talent pools. Even if they do invest a lot into increasing their talent access, it takes another level of investment and expertise to attract the right talent to consider working for your company.
What shall the companies do?
Find an established, competent RPO agency that can act as an extension of the company but leverage the agency’s vast connections and resources to find and attract superior or the right talent. When you go for a full RPO, you pay a monthly management fee and a success fee per hire. That is all you have to invest in recruiting talent.
You do not need to maintain a large HR team for the purpose of recruiting. Considering the man-hours, resources, infrastructure, training, and expenses of conducting recruitment through internal sources, the cost per hire becomes very less when you choose RPO.
3. Build Stronger Employer Brand Visibility And Talent Attraction Capacities
For millennials and Generation Z, an employer’s brand reputation matters. Job seekers depend on 3Cs- career catalyst, culture, and citizenship. They consider the future career prospects in a company, analyze the culture and work environment in employer companies, and find information about the impacts the company has on the environment or society. It becomes necessary to plan and implement the right employer branding strategies to increase visibility and the ability to attract the right talent.
An experienced RPO agency helps employers market their brand correctly and at all the right platforms leveraging their tried and tested recruitment marketing and employer branding methods. These bring down the overall manpower sourcing costs per hire. RPO prices are justified several times as they bring multiple advantages through every single RPO recruiter service.
4. Achieve Incredible Scalability – Increase Or Decrease Recruiter Team Based on Hiring Needs
RPO allows you to increase or decrease the recruitment team to achieve great scalability. Your monthly management fee for recruitment process outsourcing pricing and the recruitment process outsourcing fee structure is based on the number of recruiters you hire, which need not be fixed but agile and responsive to your hiring needs.
5. Find Best-Suited Candidates For Any Position Irrespective of the Hiring Model
An RPO agency will get you the best-qualified candidates for temp, work-at-home, offshore, and cross-border hiring models. This is because successful RPO agencies are recruitment agencies with a powerful background and vast talent pools.
How Does Alliance International RPO Reduce Cost Per Hire
1. Between 60%-70% Reduction in Time To Hire And Related Reduction in Costs
There are many RPO agencies worldwide, but not all RPO agencies offer you the same kind of benefits. Only resourceful and ingenious recruiters with access to vast talent pools can offer you the best services. Our full RPO services lead to over 70% reduction in the total manpower sourcing and hiring costs of a company. Clients who choose our full RPO services do not have to invest in building, maintaining, and equipping strong talent acquisition teams for different divisions.
2. Significant Reduction in Backfilling Decreasing 30%-50% Recruitment Costs Per Position
When a position is created or becomes vacant, it needs to be filled on time. But when the same position becomes vacant frequently due to absconding employees or high attrition rates due to other reasons, there is a lot of backfilling which gets done for the same position over a few months or every year. This increases the overall hiring costs by 30%-50% if the rate of backfilling is high across divisions and teams.
With the help of our RPO services, you can dramatically control backfilling and reduce the cost of hiring for the position. Our expert recruiters know how to control and minimize backfilling and improve talent retention.
3. Tech-Enabled Recruitment Management Reducing Recruitment Costs Per Position
No doubt, the recruitment process is expensive and time-consuming. Thanks to the latest recruitment technology, the cost is minimal for each position. Recruitment management through technology makes work fast, error-free, and practical, making the job perfect. Our RPO services enable you to find superior recruiter services that leverage the right technology and human insights to improve recruitment outcomes and bridge talent gaps. Your company need not invest in all the latest recruitment technologies that are essential to optimizing job seeker attention and talent attraction.
For example, conducting online interviews helps both the candidates and employers save time, effort, and money. Job seekers might not be open to traveling and spending hours for the preliminary screening and interviews and would consider employers who offer virtual recruitment process management options.
4. Building Stronger Talent Pipelines That Further Decrease Talent Sourcing And Acquisition Costs
Building talent pipelines reduces the cost of talent sourcing and attraction. To build rich, diverse, strong talent pipelines for specialized functions, roles, and operations, you need to have a wider job market outreach, which is where RPO makes a huge difference.
5. Increased Cost Visibility And Insights To Track, Control, And Cut Down Unproductive Processes And Costs
Hiring the RPO solution from the recruitment agency helps you check on the cost of recruitment. If it is increasing, then you can keep track of the same. It gives granular insights into the spending on every task per recruiter. The recruitment agency will track and even control and cut the unproductive costs of the talent selection process. You can control RPO costs through the correct monitoring provided by your RPO agency.
Know about Alliance Recruitment Agency-UAE
Alliance Recruitment Agency-UAE is one of the top global RPO companies. We help companies find and hire the right talent for positions enterprise-wide. Our company is also known for its vast talent resources that help us to reduce overall RPO charges and the cost per hire. If you are looking for a competent recruitment partner, reach out to us and find details about our RPO costs.