Recruitment
process outsourcing (RPO) is a segment of business process
outsourcing (BPO). It is also known as employment process
outsourcing. Under RPO, a company (employer) outsources its
recruitment process or processes therein to a third party service
provider. Recruitment process outsourcing services are beneficial for
the employers who lack internal resources essential for hiring top
talent to help the employer thrive in the marketplace. Additionally,
recent trend across the industry, driven by strategic requirements,
is that the employers opt for recruitment process outsourcing
services to focus on their core competencies and reduce cost.
Companies that offer recruitment process outsourcing services are
responsible for performing tasks such as vacancy monitoring, job
posting, candidate/resume searching, application tracking, resume
screening, resume processing, resume marketing, candidate
screening/short listing, finding skilled recruiters and maintain
database.
Recruitment process
outsourcing market is primarily driven by the increasing attrition
rate across several industries. Moreover, the demand for such
services is boosted by rising number of fresh graduates and post
graduates every year. In addition, the implementation of software
solutions, cloud and web based services has helped to streamline the
recruitment process which supports the growth of the market and
provides opportunities for new players to enter the recruitment
process outsourcing market. However, the major challenge for such
service providers is to understand the profile desired by the
employer and be able to adapt the process to their standards. This
challenge is overcome with proper coordination between the service
provider and the employer. The employer has to specify its
requirements to the RPO prior to initiation of the recruitment
process.
RPO services are
categorized under two major categories namely, on-site and off-site
RPO services. Under the on-site RPOS service, a recruitment team is
designated within the premise of the employer and offers end-to-end
recruitment services to the employer. In this model the RPO provider
has access to the internal technology and the hiring managers. In
off-site RPO services, the employers contact the RPO providers and
then they are responsible for the entire technology, methodology and
reporting used for recruiting new employees. Owing to the rising
globalizations globalization, the off-site RPO services is expected
to dominate the market over the coming years.
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On the basis of type
of outsourcing, RPO services are classified as fully outsourced and
partially outsourced. In fully outsourced RPO service, the RPO
providers are responsible for the entire process i.e. from
understanding the employer’s requirement to the on-boarding of the
candidate. Additionally, in fully outsourced RPO services, RPO
providers also responsible for conducting document verification and
medical fitness check of the candidates. In partial RPO services, the
RPO providers understand the requirements, search candidates,
shortlist candidates and provide a final list of eligible candidates
to the employer. The type of RPO service chosen depends upon the
requirements and the availability of resources with the employers.
The cost involved in partial RPO services is less as compared to
fully outsourced RPO services.
On the basis of
geography, the market is segmented into North America, Europe,
Asia-Pacific and Rest o the World. Asia Pacific is the potential
market for RPO services due to the increasing number of small and
medium sized organizations in these regions. In addition, large
multinational organizations are expanding their business in these
geographies. As a result, the demand for RPO services is expected to
increase in these regions.
The recruitment
process outsourcing market include players such as Argus Recruitment
Solutions, Seven Step RPO, Randstad Holding Company, Zyoin, Pontoon
Solutions, Pinstripe, Inc., Accolo, Inc., Futurestep, The Rightthing,
Alexander Mann Solutions, TalentFusion, Kelly Outsourcing and
Consulting Group, and Manpower Group Solutions.
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