Mid-size Companies Embracing the Value of RPO
No longer just the rage among small- and enterprise-level corporations, more and more midsize companies are embracing the promise – and the value – of recruitment process outsourcing (RPO).
That’s according to Christa Elliott at HRO Today, who writes that midsize RPO is currently enjoying the largest expansion in market share, and for good reason.
RPO is the Best Option for Midsize Businesses
As Elliott writes, midsize organizations essentially have three choices when it comes to pursuing strategic and mission-critical hiring initiatives: hire and develop an extensive internal recruiting staff, rely on third-party staffing agencies perpetually, or partner with an RPO provider.
The RPO option is by far the most scalable, both in terms of costs and operational workflows. It gives midsize companies the ability to leverage mature recruiting strategies usually reserved for large enterprises, including highly-structured processes, advanced analytics, and a deep sourcing pool.
The true thrust of RPO for midsize companies is its ability to level the playing field and provide big-time capabilities to midsize organizations without big-time costs.
What’s New and Exciting in Midsize RPO?
As RPO providers continue to tailor and tweak their offerings to better serve the needs of midsize companies, many are now offering hybrid solutions that are more attractive in this market.
Among these hybrid offerings that provide additional flexibility to midsize companies are proportional RPO solutions to solve specific business challenges, which allow RPO providers to better cater their services to the specific needs of midsize businesses. Midsize businesses, for their part, benefit from a more affordable and targeted solution that is neither more nor less than what they truly need.
Further, the frequency and reach of global RPO deal is increasing in the midsize market. “Whereas midsized deals in the past had a primary or sole focus on North American recruitment, a larger portion of deals are including and international scope,” explains Jon Langford. This goes not only for international midsize firms, but local midsize companies who want to be perceived as agile and open-minded and are interested in breaking into new markets.
Midsize RPO Metrics for Success
Elliott writes that midsize companies should measure their RPO success in the same way large enterprises would. These relevant KPIs include fill rate, lead time, quality of hire, and retention.
The former two metrics are key to midsize organizations who are currently (and wish to continue) rapidly growing. The latter speaks to the RPO provider’s ability to source high-quality talent, which is even more critical in midsize companies than large enterprises where each individual employee carries even more weight.
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RPO isn’t just for the big boys, any more. As providers tweak their offerings to better serve the needs of midsize businesses, more and more companies are realizing the value that RPO can provide.
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