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The term outsourcing is certainly not new! But did you know, outsourcing as a business strategy first appeared over 30 years ago? Kodak was one of the earliest companies to outsource its information technology management in the year 1989. Since then, companies have outsourced different business processes to local and offshore firms.
The recruiting industry wasn’t far behind. Read on to know what outsourced recruiting is and how it can benefit your company.
It is an outsourcing model where a company transfers part or all of its recruiting process to an external recruiting service provider. The service provider takes over sourcing and recruiting functions, acting as an extension of the internal recruiting or talent acquisition department.
Here’s how a recruitment outsourcing firm can boost your recruiting results.
Outsourced recruiting firms have advanced tools and technologies to find the best fit candidates. They have a vast network of candidates and recruiting expertise across different geographies, industries, and skillsets. They can assess candidates’ personalities and skills beyond their resumes. Their sourcers and recruiters use innovative sourcing strategies to engage passive candidates that your internal recruiters may not be able to reach. As a result, your quality-of-hire is significantly improved.
Outsourcing provides the flexibility to scale up your recruiting team for surge or seasonal hiring demands and scale it down when hiring is slow. The ability to scale helps keep the costs low as well.
The best outsourced recruiting firms will work with you as partners to streamline and speed up your recruiting process. Their recruiters are experts at working with candidates and hiring managers, which significantly reduces turnaround time.
Being experts in identifying the right talent, outsourced recruiting firms find candidates that are genuinely interested in the position and your company. This reduces employee turnover, thereby increasing productivity and profitability.
Many companies struggle to create a good candidate experience, but the right outsourced recruiting firm can make a big difference. Their recruiters are expert communicators. They have processes that ensure regular conversations with the candidates, provide timely feedback, and keep candidates engaged throughout the hiring process. By creating a better candidate experience, the outsourced firm strengthens your employer brand.
All the above benefits lead to the biggest one – lower recruiting costs! Outsourced recruiting firms take care of the crucial components in the recruiting process – candidates, hiring managers, recruiting strategy, workflow process, and recruiting tools. As a result, your recruiting expenses drop significantly.
While we are discussing costs, can I interest you in trying out the iPlace Cost Calculator?
Share your hiring forecast and the iPlace Cost Calculator will estimate your annual recruiting costs and potential savings through using iPlace’s hiring solutions.
Finding the best talent is one of the biggest challenges for large companies with on-going or high-volume hiring needs or small companies looking to fill a few niche positions. Outsourcing your recruiting functions can be a game-changer, especially during these times of hard-to-forecast market conditions.
Feel free to share these amazing benefits of outsourcing your recruiting process.
