Recruitment Market situation overview
At the moment, the labour market is experiencing a very turbulent time every day, we see news about redundancies, people losing their jobs and looking for new opportunities. It affects both employers and employees. Redundancies may remain a reality for some companies and industries, but in general, hiring and company headcount are expected to continue growing into 2023 and beyond.
On average, the business spends around 3000 euros per hire. This includes job board fees, candidate assessment costs, external recruiter expenses, employer branding efforts, careers page costs and Internal recruiters’ costs.
If you plan to grow your business and you need to hire more people during this time, you might want to consider having an “internal” recruiter or recruitment team for an interim time period that can be started and stopped to exactly satisfy/achieve your hiring needs. A great example of this is an RPO (Recruitment Process Outsourced) model.
Why you should use RPO?
Recruitment Process Outsourcing (RPO) is becoming an increasingly popular solution for companies that are struggling with finding the right talent. RPO is a service where an external provider takes care of the entire recruitment process, from sourcing candidates to onboarding. We want to discuss some of the key perks of Recruitment Process Outsourcing;
- Cost Savings
One of the most significant benefits of RPO is cost savings. RPO providers offer a range of cost-saving measures such as economies of scale, bulk discounts, and reduced overheads. By outsourcing recruitment activities, organizations can reduce their hiring costs significantly, including advertising, candidate sourcing, and hiring expenses.
- Access to Expertise
Another perk of RPO is that you have access to a team of experts who specialize in recruitment. These professionals have years of experience in the industry and can provide valuable insights into the hiring process. They can also help you create effective recruitment strategies and improve your overall recruitment process.
RPO is a scalable solution that can be customized to meet your company’s needs. Whether you need to hire a few employees or a large number of candidates, RPO providers can adjust their services accordingly. This means that you can scale up or down based on your business needs, without having to worry about the recruitment process.
- Improved Time-to-Hire
RPO providers have access to advanced recruitment and recruitment marketing technologies, such as applicant tracking systems (ATS) and talent management software, which enable them to automate and streamline the recruitment process. This automation reduces the time and effort required to screen resumes, conduct interviews, and manage the hiring process, resulting in a faster time-to-hire.
- Improved Candidate Experience
RPO providers understand the importance of creating a positive candidate experience. They know that candidates are not just looking for a job, but also for a company that values their skills and expertise. RPO providers can help create a positive recruitment experience for candidates, which can help your company attract top talent.
Global M is your RPO solution!
If you are interested to consider an RPO for your hiring needs in 2023, we might be able to help you. Global M has been operating in this industry for 12 years. We have 3 main entities in London, Barcelona, and Johannesburg, and experienced consultants all over the world.
Our experience has allowed us to build a transparent and effective delivery process of recruitment, redefining traditional recruitment approaches. With our on-site, remote or hybrid embedded Talent Partner Model, we place our highly-qualified recruiters or ‘Talent Partners” inside businesses to support, improve and/or carry out their hiring process(es).
Our team uses the latest technologies and tools to communicate and collaborate with all actors involved, including our client’s internal hiring teams and managers, and our own talent partners and account managers. And apart from delivering amazing talents for tech teams, we also offer DE&I sourcing and analysis, culture & value creation, interview training across the C-Suite and management, and creation of Technology Talent Events.
Contact us for more information!