With the extremely low unemployment rate and a growing skills and talent gap, U.S. companies are struggling more than ever to find, retain, and compete for the right talent to help their business grow and become a competitive player in their industry.
But as the recruiting environment grows more complex and fast-paced, RPOs must go the extra mile to deliver value-added services and speedy solutions. This whitepaper, presented by Pierpoint, delves into how the next stage of RPO – Recruitment Resources Outsourcing (“RRO“) – is beneficial for companies to implement.
Here’s what you’ll learn:
The expectations that surround best-in-class recruiting have shifted dramatically during the first part of the twenty-first century. As recently as a decade ago, an effective recruitment process outsourcing (RPO) relationship was regarded as a ‘service.’ The traditional service level agreements (SLAs) related to time-to-fill, satisfaction surveys, and the like – as opposed to true business outcomes measured by increased sales and margin performance – reduced the partnership to something much more transactional.
Today, by contrast, a more effective framework for RPO partnerships can be found in increasingly consultative relationships. Under these constructs, clients assess providers by the yardstick of investment made and business value delivered, rather than just costs saved. The determination of success comes in the context of longer-term partnerships guided by strategic consensus. Such partnerships can deliver cultural transformation and profound, bottom-line outcomes that transcend the simpler cost savings models.
For most enterprises, the days of commoditized hiring are gone. No bots surfing resumes are going to provide the necessary combination of nuance and discipline to effectively recruit for both current productivity and longer-term growth. A major challenge for RPO providers seeking to persuade clients about the value of these partnership models is the ability to communicate what is required of both parties in order to realize this new value potential. In a plugged-in, tweet-fast world, the tension between the press for timeliness and a more rigorous definition of ‘value’ needs to be rethought – and renegotiated. It means using more than short-term key performance indicators like tracking time-to-fill statistics or submit-to-hire ratios.
The complexity of pre-employment screening and the associated technologies that drive it have changed radically during the past decade. However, the problem is that the largest providers and the investment engines, such as private equity who backed them in the first round of development and the second round of adaptation, have not been persuaded or incented to make new rounds of investments in rebuilding legacy systems.
At best, this situation represents a missed opportunity. At worst, it risks a world in which employers will suffer declining compliance and worsening performance. As is often the case, these legacy provider platforms and practices present the most significant obstacle
Instead, we need a profound rethinking of the market’s arrangements and expectations. To equip today’s employers with the speed and scale necessary to renovate and invigorate hiring background screening technological systems, providers need more than an investment engine.
How can healthcare executives manage staffing shortages, rising regulatory pressures, and increased marketplace competition?
A critical part of the solution to workforce budgeting challenges is optimizing contingent staff to reduce costs, make spending more predictable, relieve management pressures, and improve patient care. In response to the increased utilization of contingent practitioners throughout the healthcare industry, three healthcare workforce solutions are available today that can significantly simplify the entire sourcing and talent management process: Vendor Management Systems (VMS) and two distinct types of Managed Services Programs (MSP).
Competition to find the best applicants is at an all-time high, and competitors are fighting to find applicants to help their company grow and set them apart.
A comprehensive background screening program can be used to strengthen a company in its specific industry and increase efficiencies in the hiring process. Your company’s future relies on the workforce you build and it is imperative to hire the right person, the first time.
Employees are a company’s greatest asset, and establishing a strong and attractive employee brand starts with finding top talent globally to build a workforce. Now, more than ever, it’s important to verify all of the information regarding an applicant’s history to help protect the company’s reputation brand and its staff members as well.
Technology innovations are impacting every facet of the talent acquisition industry. Candidates are more connected than ever before, which has changed their job search expectations. They expect to be able to complete the entire application process on mobile devices, and they expect it to be fast. Smart companies need to evolve and optimize their candidate experience to stay ahead of these trends.
In the ebook Seven Tech Trends Shaping the Talent Landscape, you’ll learn about trends like artificial intelligence, machine learning and predictive analytics.
Download the ebook today to learn more about how these advancements will affect talent acquisition in 2018: click here.
More than 60-percent of employees remain disengaged at work, according to Gallup’s annual State of the American Workplace survey, and the percentage of engaged employees has been consistently low in the last three surveys.
Clearly, measuring engagement and addressing a few key elements per year is not driving the positive energy companies are seeking.
A powerful tool often discussed in employee engagement surveys – but rarely the focal point of HR strategy – is social recognition. How can you use social recognition properly to drive business impact?
Companies expect their RPOs to create better, more efficient and deeper pipelines of talent. They expect a strong social media presence. They expect technology, metrics and analytics. And they expect high operational performance.
But, as markets mature, operational efficiency only goes so far. So RPOs have looked to deliver value-added services. They seek to become better partners, and that means deeper relationships. However, even value-added services are becoming table stakes.
The next stage of RPO is taking performance and accountability to the next level with strategic RPO/client relationships that help your company become a more competitive player in your industry.
It’s no secret that finding top talent is difficult – especially in the transportation industry, where the employment of Line Haul and Pickup/Delivery drivers is projected to grow 11% from 2012 to 2022.
EG Workforce Solutions built a customized solution for a leading LTL trucking company that resulted in reduced turnover, compliance excellence, a faster time-to-hire and increased cost savings.
By remedying a decentralized hiring process, the client was able to get back to what matters most: customer service.
In leading companies, efforts to retain employees begin even before they are formally hired. These organizations understand that how job candidates are treated in the recruiting process makes a lasting impression that carries over into employment.
When employees choose to leave in their initial months of a new job, it often suggests a recruiting issue. But, research shows voluntary turnover beyond the first two or three months is usually a result of work environment, challenges in a manager-employee relationship, or the organization’s engagement practices.
This knowledge is causing industry leaders to take a more proactive approach to employee retention, rather than simply accepting that certain workers will “cycle through” their business.
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