Is your talent acquisition strategy set on rinse and repeat?
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What is it that makes us continue to do things the way we’ve always done them? The tendency to stick with familiar routines and resist change is deeply rooted in brain science. It’s so ingrained in our brains that we often can’t stop doing things in the same way, even if they aren’t working. Let’s think about that as it applies to talent acquisition. Recruiting top talent is vital to the success of our business, yet we often get stuck using the same strategies for hiring and getting the same lackluster results.
CEOs still cite a lack of talent as an issue that is top of mind for them. According to a recent Forbes article, while many companies are right-sizing and layoffs are occurring, “55% of CEOs expect to increase hiring during the next year and only 7% of CEOs of small and medium-sized businesses expect to reduce their workforces. . . In addition, 81% of recruitment professionals say it’s challenging to fill roles.”
The truth is that many company recruiters are overworked, with an average of 20 requisitions at a time. Some are juggling as many as 60.
Recruiters can’t effectively manage that number of requisitions, and it is overwhelming when they can’t seem to get any traction. When one req is filled, another one opens up. Rinse and repeat. In smaller companies, recruiters may not have the tools, resources, or skills to properly source candidates or to deliver a positive candidate or hiring manager experience. This often leads to an increase in ghosting. And yet, we find ourselves tackling new and old problems with old solutions. Rinse and repeat.
Given that the brain tends to seek predictability and avoid uncertainty, a change to our process can be perceived as a threat, even if the change could be positive. Sticking to familiar processes and people feels safe and comforting because it reduces uncertainty. Sometimes when we hear of options that aren’t in this traditional model of talent acquisition, we may feel those options are fraught with potential problems, headaches, and higher costs.
What about pausing the cycle and trying something new? Outsourcing recruiting could be the shakeup that your company needs to recharge, catch up, or get some real traction. Outsourcing some or all the recruiting function may seem scary or have unclear outcomes, but what if it solves some of your challenges?
When should you consider outsourcing recruitment?
- You are experiencing high turnover
- You are expanding and expecting rapid growth
- A key member of your recruiting team is going on leave or just quit
- You aren’t confident that the recruiting team has the expertise or bandwidth to get the job done
- The recruiting team is becoming disengaged and is not able to bring better results
Let’s talk about what you or your HR leader might fear:
- Losing control over the hiring process
- Outsourced recruiters won’t understand your company’s culture and values
- Not getting quality candidates who are a long-term fit
- A data security risk or inability to ensure confidentiality to your candidates.
These are reasonable fears but if you are working with the right partner, they can be alleviated.
How to Choose the Right Outsourced Recruiting Partner
The key is to do your research and vet potential recruiting partners. Look for information on their experience and what types of roles they’ve filled in the past. If familiarity with requirements and competencies needed for a particular role is important, you may want a partner who’s filled similar roles. When filling hard-to-find roles, a potential partner’s level of experience may be especially important, as more experienced recruiters often have strategies, resources, and pools of candidates to tap into.
Outsourced recruiting shouldn’t be one size fits all, so ensure your potential partner can tailor services to your specific needs. Look for partners who are experienced talent acquisition specialists who can bring value to your organization by pointing out what works and what doesn’t within your processes and systems.
Talent acquisition can be done from anywhere, but if it’s important for you that your recruiting partner build relationships with your internal hiring managers, you may want to consider a local partner. Even occasional meetings on site can help the recruiter understand your business and what the right fit for each department is.
The best recruiting partners won’t ask for a long-term contract or commitment, so you can try out their services and see what the results are. This reduces risk and may address some of your concerns.
Let’s talk about the ROI
The overall cost of recruiting process outsourcing (RPO) will depend on your specific talent needs, but it is typically more cost-efficient than building an in-house team with the same resources. You can save on providing costly benefits and compensation for the recruiter, office space, software, training, and supplies. You can structure the commitment to be short term with even as little as two weeks’ notice. With jobs getting filled faster, your loss of productivity will go down, and the engagement of overworked employees will increase, which leads to a higher retention rate. If higher quality candidates are selected, retention should go up, and even customer service scores could improve. Turnover is often a high cost, as it factors in the compensation of everyone in the hiring process and their time away from their job.
Most estimates are that the cost of turnover is between 1.5 and 2 times the salary of the employee. So, getting the hire right the first time is crucial.
If you want to improve traction on your recruiting and avoid the rinse and repeat of traditional recruiting results, we’d love to talk. Reach out to learn how Purple Ink partners with our clients on outsourcing. It might just be the solution you’ve been looking for.
Peggy Hogan is the Vice President of Client Services at Purple Ink LLC.