When job-seekers begin their job search, there are a number of avenues they explore to find that perfect position. According to bls.gov, in 2018, the number one way active job seekers pursued jobs was through sending resumes or filling out applications, followed by 50% who contacted employers directly and 23.8% reaching out to friends and relatives for work leads. Of the 5.4 million individuals seeking employment, about 14.5% sought the help of a public employment agency and 8% worked with a private employment firm. And naturally, those percentage numbers overlap as people used more than one way to find a job. Those seeking work are taking the steps to make themselves available. But yet, companies continue to feel the effects of a talent shortage, particularly in the skills sets they require.
With over 5 million individuals seeking work, it begs the question: is there really a shortage or is there a breakdown in how companies are finding and connecting with, or in other words, recruiting, their next company star?
Perhaps it is a timing issue, and a new way of thinking may be the answer when evaluating the manner in which we search and connect with talent.
Challenging the Status Quo with RPO
For HR professionals and hiring managers who are seeking outside help to source and recruit talent, some of the biggest challenges faced in the process relate to time – the time it takes to select the right recruitment provider; the time to unveil a new recruitment procedure; and the time it takes to finally fill the hardest-to-fill positions.
On average, a quality recruitment process outsourcing (RPO) implementation can take anywhere from six to nine months to roll-out. This includes months of ramp-up time – establishing the recruitment process with strategy buy-in, defining administrative procedures, securing and launching necessary technology, and finally executing the plan- all before some of the first positions are even filled. That’s six to nine months before seeing a return on the dollars invested.
While a traditional recruitment process outsourcing program can still serve as an optimal solution depending on your timeline and workforce needs, in some situations, there may be a more immediate need to be addressed. Recruiting experts, Pierpoint International (“Pierpoint”), has been unveiling a new, rapid-response recruitment strategy, to accelerate the recruitment timeline. This evolutionary recruitment model is called RRO (Recruitment Resource Outsourcing) and it can dramatically impact your hiring timeline and onboarding of talent.
In essence, a ready-now, expert recruitment team prepared with a robust talent pipeline assesses your immediate requirements and starts recruiting on day one. This team commences the planning and roll-out of a sustainable recruitment outsourcing program aimed at your long-term growth while simultaneously focusing on filling your hard-to-fill positions to get talent in your door working on your business. The ramp-up time is significantly reduced; talent is identified and retained, and onboarding begins an average of 3-6 months sooner than with traditional RPO platforms.
Metrics Support a New Recruiting Model
It’s a viable concept due to the highly-skilled recruitment experts who have built long-standing relationships with talented professionals, particularly in the tech realm. At Pierpoint, we have been cultivating this program and our metrics show it’s working:
- Our recruiters have an average 12+ years of experience, particularly in the high-tech, healthcare, and med-tech sectors, which boast some of the more tough-to-fill, specialized roles.
- We average 14-20 days to identify the winning candidate in high tech and healthcare industries – the right talent interviewing with you
- Our team fills complex roles in 30-45 days compared to an average of 50-60 days, so your workforce is “working” sooner.
- Clients rated 95% satisfaction with our service delivery. In an industry where the provider-client relationship tenure is approximately 2 years, our customer retention rate is 94% with most relationships spanning 10 or more years.
As the challenge to secure talent faster than the organization next door continues to grow, the Recruitment Resource Outsourcing model is an option to explore to speed up your recruitment process. This solution can also be combined with a number of other offerings, such as hourly recruiter rentals, a hybrid container model for contingency and retained search, and specialty hire programs via a diverse team of recruiters that can support any organization’s needs in virtually any geography in the Americas, EMEA, and Asia. The Pierpoint business model could be a welcome change to entering into lengthy implementation, added costs, and convoluted provider contracts with traditional RPOs. In most cases, Pierpoint’s RRO is the way to go for talent ramp up and commitment flexibility when results are what you require.