There are several approaches you can take when it comes to managing talent, but Contingent RPO might be one of the best option's in today's economy thanks to its versatility, scalability, and flexibility.
Contingent RPO is unique because it's a hybrid recruiting model that applies the strengths of RPO to contingent hiring needs. If you decide to work with a Contingent RPO provider, a dedicated team of recruiters, sourcers, and coordinators work with you on a full-time basis as an extension of your organization. Your open roles will be promoted as your own brand versus a third party organization which is another factor that makes Contingent RPO particularly unique. The demand for contingent talent has increased in recent years, leaving businesses striving to optimize how contingent labor is sourced to drive better efficiency throughout their organization.
Below are several reasons to consider utilizing Contingent RPO, especially during an uncertain economy.
1. Opportunity for Cost Savings
One of the most significant benefits of utilizing Contingent RPO during an uncertain economy is the opportunity for cost savings. For most 3rd party staffing agencies and services, you can expect a significant markup rate. There are typically far less fees associated with Contingent RPO programs. The cost reduction typically comes from the talent partner's utilization of technology to offset the hiring costs, giving you an excellent ROI.
2. Potential for Scalability
It's hard to know what your business will look like in 3 to 12+ months during a period of economic instability. A talent partner can help you navigate this period with Contingent RPO, one of the most scalable talent solutions that can assist with the fluctuation of talent needs within your organization. Additionally, the client determines how much or how little they want their RPO provider to be involved with the talent acquisition process. Suppose your organization starts to grow at a fast pace, and the supply of talent isn't meeting the demand. In that case, your RPO provider can fill open positions quickly and efficiently using their existing and growing talent pool. And if your organization needs to downsize, it can do so without consequence from your RPO provider. Contingent RPO can give you the flexibility your organization needs.
Read our newest white paper, 6 Reasons to Utilize Contingent RPO During an Uncertain Economy, to learn more Contingent RPO benefits, including how Contingent RPO is guaranteed to improve key performance indicators (KPIs) such as turnover rates and time-to-fill open positions within your organization. You can download the white paper here.