The RPO companies are at an all-time high and growing even further. Right from startups to multi-billion dollar firms are seeking the help of these offshore recruitment companies. Apart from cost reduction, through these companies, you definitely find the best-talented candidates for your job opening. Over the years, the offshore RPO companies have evolved greatly and continue to do so.
Here are five factors and trends in the Offshore RPO world:
1. Use of Data Analytics
Data analytics is a major part of the existence of the offshore RPO world. These companies have a huge data of candidates in each field and also how each candidate made progress through the recruitment process. Not only does it give the company an idea about the kind of candidates they should shortlist, but also helps them streamline their recruitment process.
It boosts productivity as the companies have everything in front of them and can get started with the recruitment process immediately.
2. Real-Time Reporting
As a business, you are interested in what is happening at the very moment with the recruitment process. Offshore RPO companies provide their clients with real-time reports of how far the recruitment process has come along.
It makes their system more reliable and automatically speeds up the recruitment process, with the results remaining just as good. Real-time reporting makes life easier for both, the businesses and RPO companies.
Offshore RPO companies always have an eye on the market. When market conditions are conducive to make recruits. Job seekers are constantly looking for opportunities to find new jobs, which pay more and take them a level up in their career.
When the offshore recruitment companies feel that it is the right time to make recruits, they start cold calling and people voluntarily leave their current jobs and start working on a new one. It isn’t about reducing employment at one place and increasing at another, but it is just a shift in equilibrium. This phenomenon is termed as churning.
4. Approved by New Talent
One reason why businesses give the recruitment responsibility to offshore recruitment companies is that they are approved by new talent. These freshers think that if a company has hired an offshore recruitment firm, they are trustworthy and working with these businesses will help them grow.
Also, HR departments of businesses are kind of overwhelmed and might not be able to handle new talent since they need to be handled differently. Offshore recruitment companies are devoted to recruitment only and therefore, using their research and experience, develop a unique method to handle new talent.
5. Remarkable Growth in Revenue
Offshore recruitment companies are more beneficial for businesses rather than having an HR department. It cuts as much as 50 percent of the costs and the RPO companies also help in finding talented candidates, which increases the company’s value.
Both factors combined, businesses see remarkable growth in revenue. They are also able to focus on their core activities, which boosts the finances as well.