Competitiveness in the modern business landscape has shifted from executing growth strategies to establishing value creation and talent retention. Now, talent (with the right skill) is considered the most critical asset a business can have. Yet the gap has been widening, pre-dating the pandemic.
Organizations are struggling to fill open positions – IT companies are struggling to find talent with the required open-source skillset, Engineering companies are finding it challenging to recruit skilled technicians. Even when they manage to find them, there is difficulty hiring them due to their availability, salary expectations, or competition from other companies. If your company is enduring this situation, then you are not alone.
Imagine the predicament start-ups and SMEs are in amidst the current talent war if even established firms find difficulty managing skills shortages.
Here’s where Recruitment Outsourcing comes into the picture – a fast-growing trend that allows businesses and agencies worldwide to outsource the full-cycle recruitment process to a third-party service provider. RPO agencies offer bespoke support to businesses, addressing their specific needs and challenges and delivering talent mobility through industry-proven best practices. The right recruitment outsourcing partner can help you build flexible operating models and gain a competitive advantage even amidst prevalent talent shortage challenges.
An efficient workforce planning allows businesses to attain long-term, sustainable growth. This tactic is all about aligning with the broader picture to ensure a profitable scale – forecasting and assessing future talent requirements, drafting retention policies, providing workforce flexibility, and implementing a human resources analytics system. It also allows organizations to have the necessary readiness to maintain business continuity in the face of disruptive changes.
Recruitment Outsourcing companies can help businesses adapt to changing business landscape and market demands. This partnership allows them to complement their onshore team with the offshore workforce, leveraging the untapped global talent pool and managing prevalent skill-shortage challenges with relative ease. The offshore team can be scaled up or ramped down based on the current market and business demands, equipping businesses with added operating flexibility.
Workforce planning with RPO support can help businesses proactively address skill shortages and build a flexible talent acquisition strategy that ensures sustainability.
Organizations must also take a deep dive into the digitalization pool, a trend that gained exponential growth catalyzed by the COVID pandemic. According to a Twilio survey, 97% of executives stated that the COVID-19 crisis sped up their digital transformation efforts. Businesses have started integrating new tools and technologies to optimize their processes and scale their recruiting capabilities, managing labor shortage concerns more efficiently. But it’s not easy, and it’s expensive. So, how can businesses bring skill and technology together to grow amidst current talent wars while also keeping costs in check?
Recruitment Process Outsourcing partners can serve as an answer to this question. Since sourcing partners deal in high-volume recruitment, they are equipped with the latest tech that helps optimize and speed up the full life cycle recruitment process. QX Global Group’s business transformation consulting service enables businesses to prepare against disruptive market changes (such as the current skill challenges) and form an optimized operating model.
Outsourcing is fast becoming a critical part of the growth strategy for organizations worldwide. It is effective to leverage the knowledge and resources third-party experts bring to the table. This collaboration allows businesses to scale at pace and improve workforce and productivity without enduring high costs on salaries and overheads.
You can outsource the complete or specific business process to the partners. These processes may include recruitment, training, payroll, database management, temp staffing, and other functions. Outsourcing the non-critical functions allows your onshore team to focus on revenue-generating activities and provide better value to their organization and clients. Moreover, you also reduce overhead expenses to attain a better return on investments.
Many processes require adequate time, effort, and skills that may not be attained internally. In this time of skills shortage, your business needs added flexibility and agility, and you can achieve this through a value-driven partnership with a reliable recruitment outsourcing partner.
QX Global Group provides full-cycle recruitment support to staffing agencies and MSPs in the US, Canada, UK, and EU geographies, helping them cope with the prevalent talent shortage by providing a trained offshore workforce from India.
We hope you enjoyed reading this blog. If you want our team to help you resolve talent gaps, reduce costs and transform your business operations, just book a call.
Originally published Jan 06, 2022 09:01:41, updated Jan 06 2022