INDUSTRIES
Outsourced recruitment
Recruitment goes beyond simply filling vacancies. With skill shortages, rising costs of local talent, and strained internal recruitment departments, recruitment service providers are stepping in to help organizations find, deploy, and keep talent for all skill levels and roles. Recruitment service providers manage the entire hiring process — from job profiling and applicant screening, to training, support, and monitoring of new staff. Besides skilled personnel, the vendor often provides technology, methodology, analytics, and reporting. Unlike contingency and temp staffing companies, recruitment service providers have the capability to assume end-to-end management of the recruitment process, focusing on value-driven services. Recruitment models include in-house management, hybrid recruitment process outsourcing (RPO), project recruitment, and full RPO.
Market and trends
Business growth and innovation often depend on hiring the right person at the right time. In a market where skilled talent drives an organization’s competitive advantage, intelligent, strategic recruitment is a key capability. From simply filling talent shortages quickly and cost-effectively, recruitment has evolved into a complex process that takes into account market trends, business forecasts, network optimization, branding and advanced analysis of the sources of the best and most qualified candidates. Companies have been forced to think outside the box to meet the challenges of building an effective team in today’s ultra-competitive marketplace.
Many companies have found that looking to alternative sources of talent, such as an offshore staffing solutions provider like Sourcefit, can ease the burden of finding highly skilled, qualified employees. At Sourcefit, we offer industry-specific recruitment expertise and offshore staffing solutions tailored to your business. For us, recruitment starts with matching talent to the role while lowering costs and improving processes. We aim to be your long-term staffing partner, providing you with access to top talent while also promoting cost-efficiency, and risk control through outsourcing in the Philippines.
We leverage our expertise in specific verticals to bring you the perfect candidate for each role—someone who speaks the language and possesses in-depth knowledge of industry practices, regulations, risks, and procedures. Every industry has its mission-critical challenges—from geography, to standards compliance, technology, and economic cycles. Sourcefit has strong and long-standing industry alliances, and our recruitment specialists have attained deep domain expertise that addresses industry-specific recruitment challenges
Success stories
An example of a successful RPO partnership is between a Fortune 100 financial institution and a recruitment solutions vendor hired to improve top-line revenue by hiring qualified and experienced financial advisors across all branches. The outsourced recruitment service provider developed a custom, end-to-end RPO solution to recruit the financial advisors. This led to an increase of over 20 percent in revenues and retention rates and a 15 percent increase in diversity, and a reduction of over 45 percent in days to fill.
Recruitment challenges and solutions
Recruitment has become increasingly complicated across industries and for businesses of all sizes. The biggest challenge for organizations today is finding the most qualified and skilled candidates in a competitive global marketplace. Adding to the pressure are changing staffing needs. Costs can multiply when a company needs to recruit multiple professionals within a very tight time frame. Internal HR departments may be overtaxed by the demands of recruitment on top of their core responsibilities, particularly by large-scale projects that require multiple hires at a moment’s notice.
Limited internal resources, common among many small and medium-sized businesses, can also make recruitment a slow and laborious process. It is difficult to compete with larger, more established companies for the same talented professionals unless an experienced third party steps up to fill the gap in technology and capabilities.
Outsourcing recruitment to a trusted and experienced specialist is thus an increasingly attractive proposition. According to Straits Research, organizations are outsourcing recruitment to streamline the hiring process. These companies are relying on RPO providers to deploy innovative and flexible workforce management strategies that lead to quality hires and cost containment. Aberdeen’s study noted that Best-in-Class companies have reduced their cost-per-hire by 25 percent or more and reduced the time-to-hire by 20 percent or more through RPO.
Cost and process efficiency
The first wave of RPO addressed cost and process efficiency issues, and these two factors continue to drive outsourcing initiatives. However, while early adopters focused on cost reduction, process improvement, and leveraging technology solutions, today’s enterprises are looking for strategic value out of outsourcing relationships. RPO service providers should be integrating effective talent acquisition and management methodologies with cost reduction and process-focused models to deliver better value.
Value and innovation
Companies are now more invested in their talent acquisition initiatives, with increased senior management oversight. Talent management is seen as a strategic, integrated system that addresses skill shortages. Besides cost efficiency, talent as a competitive advantage is on top of the priority list. Vendors that utilize innovative strategies and capabilities to create value while reducing costs have an edge over those that focus only on cost-reduction. An effective RPO provider integrates people, process, and technology to enhance the client’s competitive advantage.
Recruitment outsourcing providers in the Philippines
Recruitment outsourcing providers in the Philippines such as Sourcefit have more stringent quality metrics than most in-house HR departments. This capability gives clients access to detailed and accurate data such as the volume of candidates that meet hiring criteria, the best sources of qualified candidates, and other information that reduce time to fill and cost per hire.
Please contact us to find out about Sourcefit’s custom recruitment solutions.
