There’s no way to sugar-coat it; hiring is getting harder. Competition is already fierce in a candidate-led talent market facing short supply. On top of this, employers are regularly losing talent acquisition professionals to competitors, layoffs and attrition. These recent and sometimes dramatic shifts in the worldwide hiring environment have prompted organisations to increasingly look to outsource hiring efforts and processes to recruitment experts.
With more clients likely knocking on the door, how can your staffing or RPO business use artificial intelligence to manage day-to-day operations more efficiently and deliver better?
An industry on the rise
The RPO industry worldwide is projected to grow on average almost 14% (CAGR) each year for the next 7 years as increasing adoption continues. With the urgent nature of some hiring needs, 80% of this adoption is currently on-demand. However, end-to-end RPO services are also projected to increase by 14.3% (CAGR) in the next few years, particularly in IT and telecommunications industries which continue to dominate demand.
Why is outsourcing staffing and recruitment processes all the rage?
Employers that outsource recruitment processes are looking to accelerate their talent acquisition efforts and timelines, while cutting costs. This external help has become more critical for a number of organisations as they are affected by many rising environmental factors such as candidate shortages in the UK or HR department downsizing in tech sectors.
Recruitment process outsourcing isn’t a one-size-fits-all solution however, and the amount that a company farms out does vary greatly from employer to employer. For example, a new start-up may need complete design and management of all recruitment processes to be able to focus on its core capabilities. An events management firm could need an influx of temporary gig-workers in an unfamiliar region, or an enterprise may need extra help to reach a more niche talent market. All have different prospective needs and solutions, which is why the customisation and scalability of RPO is a major selling point for employers at present.
There’s never been a better time to see how AI can improve RPO operations and results
Competition is fierce and clients want results fast. Recruitment and staffing agencies therefore need to demonstrate that they can execute on hiring the best candidates quickly, efficiently, and with the most inclusive recruitment processes. To do that, recruitment businesses also need to run like clockwork with time and cost saving efficiency and measurable results.
That is where AI-powered recruitment platforms can enable recruitment agencies to close those requisitions and deliver for clients by streamlining candidate sourcing, operations and outreach.
How AI empowers RPO business operations
Stronger candidate sourcing and scoring
Harvard Business Review warns that the ‘talent pools recruiters have routinely tapped into are becoming outmoded’ and highly gifted candidates are often found outside traditional talent clusters. Recruiters therefore need to work smarter to track down increasingly elusive skilled candidates. Why not let AI do the work and self-source prospects from vast databases of qualified active and passive candidates.
Powerful and inclusive AI scoring also makes it easy to search for talent based on skills. Intelligent solutions will even take some of the legwork out and recommend high potential individuals based on your criteria, ensuring you never miss a desirable candidate.
Build a strong talent pool and intelligently retarget candidates
Take a longer term approach to recruitment by building a strong talent pool to pull from for future opportunities. Intelligent platforms give you the power of smart talent pool and candidate database management. Not only do you have all the previous candidate information at your fingertips for reference, but powerful AI can also swiftly retarget and resurface candidates based on future role criteria.
Manage job vacancies and post to job boards instantly
Clients have already given you the job requisition requirements, now all you have to do is plug them into the platform and manage everything from source to hire. Advertise those vacant roles immediately by posting through the platform to popular job boards like LinkedIn and many others. All applications are then collected into one measurable and actionable pipeline.
Schedule candidate interviews with ease
OK, so you’ve found a few great candidates. Now it’s time to get to know them better. With an intelligent recruitment platform, scheduling that interview is as simple as a few clicks, thanks to integration with Zoom, Teams and any other interview tools. For virtual assessments and video interviewing with inclusive hiring features like video masking, recruiters can also utilise an insightful one-way interview platform like X0PA ROOM.
Manage your clients, contracts and invoicing in one place
Take advantage of the beauty of an all-in-one recruitment platform with complete client management. Not only can an intelligent solution help find new leads for prospective clients, but you can also manage lead follow-ups and quickly convert prospects to paying customers. You can also manage all important client information and contracts with customised commission fees per client and per job. Once you are ready to bill, invoice management is a breeze with generated invoices that can be emailed to clients. That just leaves you to effortlessly project revenues and manage those pending invoices
Greater visibility for you and your clients
There’s never a bad time to get feedback from clients on prospective applicants. Make sure that your clients are taken on the hiring journey with a client portal that let’s them see live views of short-listed candidates. And don’t forget about your own analytics with built-in reporting on recruitment team performance, interviews in pipeline, offers and hires.
Built-in objectivity for inclusive and equitable hiring
Inclusion and equity in recruitment is critical for clients as they work to increase diversity in their organisations. Intelligent platforms take a more scientific and skills-based approach to candidate selection and interviewing. This greatly reduces the chances for personal bias, leading to more equitable hiring outcomes.
Make staffing and recruitment efforts simpler, smarter and fairer with AI
Staffing agencies and RPO providers have advanced beyond simply filling roles to become a partner and true extension of a client’s business. With the right technology at their disposal, recruiters can transform a client’s processes to meet hiring goals at far lower cost and with greater equity. At the same time, powerful AI can enhance recruiters’ own operational efficiency to reduce time and cost-to-hire, while greatly increasing customer and employee satisfaction.
Find out how X0PA AI can transform your staffing and RPO operations today.
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