Talent Acquisition: The Move Towards Managed Recruiting Services
By: Jim Westcott, Tony Olvet, Greg Ambrose
Sponsored by: Ceridian Canada
Date of Publication: June 2005
Format: Adobe Acrobat (PDF file - 166 Kb)
Length: 13 pages
Introduction
The need to hire the right people, at the right time, is a key business issue. The rise of managed recruiting services (sometimes referred to as Recruitment Process Outsourcing or RPO) provides an effective alternative to traditional recruiting practices by providing benefits such as lower recruiting costs, reducing time to close hiring requisitions, and freeing up resources to focus on strategic HR initiatives. The challenge for most businesses lies in the timely identification of the best candidates when the need is at its greatest. Prior to the development of managed recruiting solutions, the response to recruitment challenges typically followed three paths: a business could employ recruiters internally and supplement with external resources (i.e., print/online advertising); it could largely rely on external recruiting agencies to identify and qualify potential prospects, or it could utilize a combination of both strategies. For a variety of reasons these options are less than ideal.
The emergence of managed recruiting addresses these issues, and creates an outsourced service that businesses can leverage for their recruiting and hiring needs. IDC believes that outsourcing recruitment can:
- Increase the quality and timeliness of the service and recruits by leveraging the people, processes, and technology of service providers dedicated to the recruitment function.
- Decrease recruitment-related costs by contracting with an end-to-end recruitment provider whose cost-per-hire is significantly lower than recruitment agencies.
- Decrease internal capital investments in recruitment function by avoiding non-strategic HR-related investments in resources and technology.
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