Recruitment Process Outsourcing, or RPO, is becoming increasingly popular due to a need for an effective recruiting process and reduction in overhead costs; the global RPO market is expected to grow at a compound annual growth rate (CAGR) of 18.5% from 2020 to 2027.
As more companies look at the advantages of diversifying their recruitment strategies with RPO providers, they should also explore interview as a service (IaaS) platforms that can improve their hiring process.
This article will explain the pros and cons of RPO and help you understand how to integrate it with IaaS to help you source, screen, and hire the best talent for your business. First, let’s dive into the basics of what RPO consists of.
What is RPO?
Recruitment process outsourcing occurs when a business engages the services of a third-party provider to help find suitable employees. The RPO method is designed to support your company in identifying the right talent quickly while reducing the burden on your internal HR team.
RPO models can be customized to meet your specific needs and recruiting challenges. Typically, a business looking to find suitable candidates signs a contract with an RPO provider and gives them the task of locating, screening, assessing, and shortlisting the right individuals for the role.
What are the benefits of RPO?
There are significant advantages of working with an RPO partner. The right RPO provider can help you optimize your recruitment process and let you focus on building your business. Firms of all sizes are now outsourcing their hiring efforts: $100 billion of talent acquisition expenditure is now managed by an outsourced provider or technology - amounting to a third of the global total.
Here are some key benefits that a reputed RPO platform can provide:
RPO is entirely scalable: whether you want to outsource initial candidate screening or the entire recruitment process, you can hand over the amount of control you want to.
RPO partners can provide on-demand service. Many firms don’t require year-round recruitment resources and can avail of RPO support based on their needs.
RPO platforms can help you select better candidates by using behavioral assessments and skill-based evaluations. This is essential when hiring for technical roles.
FloCareer On Demand Interviews consist of customized question sets that include coding tests and scenario-based questions to help identify the most suitable individuals for the role.
RPO programs are quick and cost-effective. They can reduce cost-per-hire by 20% and reduce time-to-hire by up to 55%.
What are the disadvantages of RPO?
While RPO can undoubtedly help you streamline your hiring strategy, there are some things to keep in mind before signing up with an RPO partner. Some potential drawbacks of RPO are:
The RPO team may not have the same nuanced industry insights as someone working in the business. This could make it harder to hire for technical or specialized roles such as in finance, technology, or law.
FloCareer’s team of 4000+ freelance interviewers are trained in technical recruiting and have varied skills. This allows us to assign qualified interviewers as per the job description.
While letting go of some responsibility is part of working with an RPO team, it can also result in a lack of communication and some things getting lost in translation.
FloCareer’s Applicant Tracking System ensures they are always on the same page as the client. The applicant tracking suite records all updates and internal communication for your HR team to access easily. Moreover, our structured reports and analytics keep you updated at every step of the hiring process.
While RPO has some downsides, you can mitigate them with the help of a reputed partner like FloCareer. Moreover, FloCareer’s advanced IaaS can further refine the hiring process.
How can IaaS optimize your hiring efforts?
Interview as a service (IaaS) consists of outsourcing the first few rounds of technical interviews to industry experts. Your internal hiring team has to assess a smaller and more qualified subset of candidates, making their job easier.
FloCareer’s IaaS platform consists of the following components that can improve your hiring efforts:
A structured interview is a standardized interview format where all candidates are assessed using a predetermined question bank, including technical and situation-based problems. These questions are also asked in the same order, which helps reduce the context effect. The responses are evaluated objectively with a point-wise scoring scale.
FloCareer’s structured interview strategy includes over 2.5 million questions that are crowdsourced from experts to keep them relevant, engaging, and fresh.
Job description matching
Resume screening, when done manually, is a time and effort-consuming process: the average recruiter spends 23 hours screening resumes for a single hire. Moreover, the process is also prone to errors caused by fatigue and hiring biases.
FloCareer’s JD to CV Match is a technology-based solution used to find out the % matching score of a resume with a given job description. This helps screen resumes faster and more accurately while reducing human error.
Face-to-face interviews come with several logistical issues like commuting, scheduling, and following up. This can result in a long-drawn interviewing process, resulting in a poor hiring experience for candidates and you losing out on qualified employees.
FloCareer’s On Demand Interviews is a digital interviewing solution that is free from such obstacles. They give the candidate the flexibility to appear for the interview anywhere, anytime, and from any device. Moreover, they allow you to design the interview structure per your needs. The video gets recorded, allowing you to share the candidate’s performance with all stakeholders.
Why should you choose FloCareer?
When picking the right RPO partner for your needs, you must research their IaaS platform. This helps you reap the benefits of outsourcing your recruitment efforts while protecting you from the potential drawbacks. FloCareer’s variety of products and services allow you to automate skill-based hiring and carry it out on a large scale.
With helpful features like AUTO-SCHEDULING, interview structure curation, efficient feedback submission, and interview resource management, our IaaS platform provides an end-to-end solution for your hiring needs.
Our team of interviewers has worked with over 250 clients, including Deloitte, Levi’s, and PayU, to help them hire talented professionals in as little as 48 hours! Don’t wait to upgrade your recruitment strategy; sign up for a free demo today.