Over the years, the RPO industry has seen marvelous growth. RPO or Recruitment Process Outsourcing enables organizations to attract, recruit, and retain the right talent for the business. They offer various RPO models to cater to their client's requirements. One among them is Project RPO- an intelligently designed RPO model that's immensely beneficial for organizations.
Exactly as its name implies, Project RPO is a short-term recruitment outsourcing model. The model is specifically crafted to cater to talent acquisition for company projects that may last for weeks or months. With Project RPO, businesses don't have to outsource all their recruitment needs. Instead, they can choose to outsource individual projects as and when required.
Our article will further address how talent acquisition and HR leaders leverage Project RPO as a cost-effective solution to deal with temporary recruitment challenges.
As an agile alternative, Project RPO is instrumental in helping companies achieve short-term and long-term goals. It provides organizations with the expertise and resources needed to fulfill fluctuating business demands.
The concepts of Project RPO and standard RPO are identical. However, certain aspects demarcate the two models. The primary differences are the duration of the engagement and the key drivers.
Traditional RPO engagements last for at least a couple of years as companies seek continuous tactical and strategic recruiting support. Project RPO engagements, on the other hand, are most commonly less than six months long. Over 70% of companies stated that their engagement with Project RPO was less than six weeks. In other words, with Project RPO, you get a dedicated team that becomes an extension of your company until the project is done and dusted.
A project-based RPO model makes sense for a lot of business reasons:
Businesses face fluctuating uncertainties with the pandemic. Many companies are tentatively operating with limited staff and resources. However, as businesses reopen and race to catch up with the lost time, they are experiencing a hiring surge. With many individuals still wary about rejoining the workforce, project-based RPO seems to be the best choice.
To survive the pandemic-related changes, companies are forced to operate in new ways, thus creating new lines of business. Companies now need to make critical hires for their new businesses to thrive. They will require expertise that they do not possess internally. Availing Project RPO brings specialists with deep domain expertise who can support emerging business objectives in both geographies and industries.
As organizations find new ways to thrive and survive the harsh changes of the pandemic, they are proliferating and doubling in size. Consequently, they will require talent to fill newly created positions. Such companies with high-growth goals can benefit from Project RPO by scaling quickly in the short term.
Organizations want to make up for the lost businesses due to lockdowns. As organizational demand escalates, they can no longer wait for extended periods to fill positions and get going. What businesses are looking for right now is reduced-time-to-fill days. And they have their reasons- more job vacancies mean lesser productivity, capacity, and revenue. Under these circumstances, Project RPO comes as a huge blessing, with organizations stating that positions were filled in under thirty days.
These factors alone do not explain Project RPO's high demand. This model is also a proven solution that provides organizations with a plethora of benefits.
Here are the benefits associated with Project RPO that can help you better understand the significance of using this model:
In contrast to traditional RPO, Project RPO adapts to changing business objectives and market trends. For businesses in need of short-term support, this distinction is highly beneficial. Moreover, many companies are facing unique recruitment challenges as they foray into new business avenues. Project RPO partnerships synchronize with their drive to capture the market and scale up quickly. In addition, the model does not require long-term commitments. Hence, businesses can simultaneously save money and fulfill their talent needs.
Business and market fluctuations are happening every day. These circumstances make Project RPO the perfect choice, as it is designed to meet such unpredictable changes. The model can upscale or downsize a project without hurting the finances or the business objectives. The model's scalability and flexibility work perfectly for companies that often change their requirements.
Your in-house talent acquisition team can gain immensely when they collaborate with external specialists associated with project-based RPO. It is a benefit often overlooked by companies that are wary of the Project RPO model replacing their in-house teams. Contrariwise, project RPO helps foster your in-house team's long-term capability, thought process, and experience. This collaboration exposes your workforce to new processes, workflow, and technology.
A Project RPO partnership commences with a comprehensive understanding of your business requirements and culminates with fulfilling KPIs and SLAs. The model is uncomplicated, easy to implement, and negates the need for full-time commitment and resources. Also, it provides reliable support that's crucial to every business.
In the current scenario, Project-based RPO is proving to be a sensible choice for big and small businesses. It offers a much-needed reprieve with access to exclusive talent for whatever length of time the business requires. It brings in critical skillsets when you are launching a new product or service. The model does not strain your financial resources. Instead, it delivers long-lasting values and strengthens the capacities of your in-house team.
So, it is now time to think smart and invest in Techfetch RPO's Project RPO- the right solution for your short-term recruitment needs. To know about our take on Project RPO, swing by here.