Recruitment Process Outsourcing (commonly referred to in the HR world as “RPO”), is an increasingly popular solution for many small to mid-sized businesses that are looking to make hiring decisions in an easy, compliant, and—above all—efficient way.
The RPO option is an approach to talent acquisition that allows businesses to delegate most or all of the recruitment process to an external third-party that specializes in all aspects of recruiting. The benefits of RPO are many, and they compound when a small or mid-sized business works with an RPO that specializes in recruiting within the client-business’ particular industry.
According to a report from Polaris Market Research published in January 2024, “the global recruitment process outsourcing market is expected to grow by 16.0%” in the next several years and more than triple by the year 2032. Why are so many businesses turning to RPO providers for help recruiting the next generation of top talent? In this article, we’ll explore this HR trend and what drives it.
What are the Benefits of Recruitment Process Outsourcing (RPO)?
The benefits of recruitment process outsourcing are many, and they vary from industry to industry and company to company. Here are some of the general, key benefits of turning to an RPO provider:
Professional Recruiting Firms Know How to Scale Your Business Efficiently
RPO providers allow businesses to scale their business in an efficient and organized way. RPO providers are “used to” working with growing clients, and can pinpoint the issues to look out for as you build out your teams.
Whether your organization is going through its first period of rapid growth, is experiencing project-specific hiring needs, or is replacing a valuable member of your team who has moved on, RPO providers have “been there, done that.” They can provide you with advice and answers to questions you may not have even had on your radar, ensuring your recruitment process is an intelligent and seamless one.
Your Business Can Save on Recruiting Costs
When you’re running a small to mid-sized business, there are two key resources that you always need to maximize: time and money. RPO providers understand this, and they’ve designed their recruitment processes in a way that can help you make the right hires without spinning your wheels or wasting your precious resources.
Recruiting the “old fashioned way” includes spending big on items that really add up, like advertising costs, payments to recruitment agencies, and the salaries and benefits for HR team members. RPO providers help you slash and consolidate these costs, allowing clients to capitalize on the benefits that come from their expertise, in-house resources, and economies of scale.
Your Business will Avail Itself of the Latest in Recruiting Technology
HR technology is always changing, and having access to the latest and greatest in recruiting software, like data analytics software and artificial intelligence, is an expensive endeavor. But for an RPO provider, these are just the costs of doing business—costs that they’re happy to shoulder in order to bring the best results to their clients.
A typical Applicant Tracking System (ATS) could run a small to mid-sized business up to thousands of dollars a month, not to mention the costs of the employees needed to learn how to use the software and run the recruitment process from end-to-end. When you work with an RPO provider, you avail your business of all the benefits of working with a partner who already has it figured out and can run your recruiting projects for you without skipping a beat.
You’ll Find Better Candidates (and They’ll Find You)
When you work with an RPO provider, the quality of hires you’re able to bring in will soar. This is particularly applicable when you partner with an RPO provider that specializes in your business’ unique industry. RPO providers have often spent years (if not decades) building relationships with candidates within a particular industry, and know what makes a great candidate for a certain role—and how to get in touch with the individuals who fit the bill.
RPO providers are not only uniquely capable of sourcing quality candidates, but they have a full understanding of the many factors that go into finding a strong long-term cultural fit for their client-businesses. The screening processes, assessments, and interviews they help administer are designed to ensure that only the best fits for an open role are presented to their client-business.
Keep in mind that working with an RPO provider doesn’t mean that your leadership won’t be able to retain final decision making ability as to who is brought on board. When you work with an RPO provider, you are free to determine the level of interaction you’d like to have with candidates during the recruitment process. Your relationship is customizable—you’ll retain full control of your organization and will always have the ability to call the ultimate shots if you choose to do so.
You Can Spend More Time Doing What Only You Can Do.
Your business is succeeding and bringing on new team members for a reason: the talent of your leadership and the strength of your business’ main vision and purpose is unique and important. To continue to advance your core business objectives, you need time. Only you can do what you do. As you put your limited time into running your core business, leave the recruitment details to an experienced RPO provider with deep ties to your industry.
An experienced RPO provider will be able to handle the minutiae of the recruitment process in a way that would bog down less experienced firms or other small to mid-sized businesses. For example, navigating compliance and risk management in the recruitment space is a breeze for an experienced RPO firm, even if recruitment spans multiple regions or countries. Great RPO providers are aware of the regulatory requirements applicable to your search process, and can keep you on the right track as you work toward finding the perfect fit.
RPO at Cornerstone Search Group
The life sciences talent landscape is competitive, but when you partner with Cornerstone Search Group, you gain an edge over your competitors. Cornerstone can help you tap into a deep network of specialized and hard-to-find talent. We can introduce you to individuals who may not be on the “open market” looking for a job, but who trust our recruiters when high-profile leadership roles become available.
Our well-connected headhunters are excited to get to work finding the executive that will take your biotech firm into the future. Start a conversation with us today to learn more.
