Recruitment Process Outsourcing (RPO) A definition: Recruitment Process Outsourcing (RPO) is where an employer contracts out all or part of its recruitment activities to an external service provider.
As a reputable recruitment outsourcing company that will help your HR department with the recruitment process for economist, we are actively looking for companies who wish to outsource their recruitment process.
In simple terms, an economist is a person who has proficiency in the arena of economic science. The main job of an economist is to analyze the internal functioning of the economy of interest to their organisations and make forecasts and suggestions based on that.
A lot of economists are hired by the administration with the intention to assist them and decide about things such as monetary plan. The other major employers of economic expert are educational institutions. An economic expert may also get work in the private segment, often either as a staff member of a big company or as a private contractor who sells their research to these firms.
The RPO Alliance, a group of the Human Resources Outsourcing Association (HROA), approved the following RPO definition: "Recruitment Process Outsourcing (RPO) is a form of business process outsourcing (BPO) where an employer transfers all or part of its recruitment processes to an external service provider.
An RPO provider can provide its own or may assume the company's staff, technology, methodologies and reporting. In all cases, RPO differs greatly from providers such as staffing companies and contingent/retained search providers in that it assumes ownership of the design and management of the recruitment process and the responsibility of results." The main difference between RPO and other types of staffing services lies with the process itself.
In RPO the service provider takes ownership of the process, while in other types of staffing the service provider is part of a process controlled by the employer paying for their services.
Brief History: While staffing services have been provided for many decades, the idea of an employer outsourcing the management and ownership of part or all of their recruiting process was not first attempted on a consistent basis until the 1970s. As Human Resources Outsourcing became popular through the 1980s and 90s - where companies began taking on the processes associated with benefits, taxes and payroll, companies also began realising that recruitment should also be considered for outsourcing. In the new millennium more companies began considering the outsourcing of recruitment for major sections of their recruiting requirements.
Benefits: RPO's claim that the solution offers improvements in quality, cost, service and speed of recruitment: More extensive databases of candidates CVs, higher numbers of specialised recruitment staff, key investment in tools and systems all help to achieve the above. In addition RPOs are able to charge companies per ‘staff transaction’ rather than a regular fee so that in periods of little or no recruitment activity costs can be kept to a minimum for employers. Performance management is also an important element. As with all outsourcing arrangements the relationship between the client and the provider of services is based around specific and measurable targets.
Remuneration is then dependent on the attainment of these targets meaning that an RPO provider can focus their efforts in the most effective way. Traditional methods of in-house recruitment are almost certainly not going to be measured in the same way resulting in less efficiency in the recruitment process.