By outsourcing key functions or hiring for hard-to-fill roles, internal talent acquisition and HR teams can spend more time focusing on other strategic initiatives, such as focusing on improving the talent experience and factors that drive loyalty, engagement and career mobility.
With additional time and available mindshare, they can push the boundaries of traditional talent acquisition and create more impactful strategies that align with other areas of HR — and the business at large — for the long-term and across the total enterprise talent life cycle. This can include creating clear remote and flexible work policies, training and development offerings, and internal mobility and career advancement opportunities.
> Build your strategy with the 2023 Talent Trends Report
Today’s workforce includes more types of workers than ever before — from permanent and contingent employees to freelancers, gig workers and more. As the workforce continues to evolve in terms of how, where and when people work, one size does not fit all. There are more options to get work done than ever before. While talent acquisition leaders often want to consider the whole spectrum of available talent, they don't always have the resources, expertise or internal buy-in to make that happen.
In fact, only one-quarter of talent leaders say they plan to engage more contingent, freelance, temporary, and/or statement of work (SOW) talent. This might explain why year-over-year investment in talent branding for freelance and/or independent contractors and temporary staffing has dropped by 9% and 12% respectively, according to our Talent Trends research.
Knowing when to engage which types of talent can be challenging. Access to external market intelligence and knowing how to review it alongside internal people analytics is critical, yet often limited within organizations. When you outsource talent acquisition, you not only get access to both internal and external data, but to the global expertise to do this at scale.
Outsourcing talent acquisition can also help organizations acquire and deploy contingent talent more quickly by minimizing or eliminating third-party suppliers. This is done through the use of a branded talent pool that the company develops, known as direct sourcing. By directly identifying and acquiring contingent resources, organizations can build more agile and talent-centric strategies to engage and deploy flexible workers which in turn produces greater cost savings and cost avoidance through these direct contingent recruitment relationships.
Ultimately, it’s about matching the right person with the right position to ensure an organization has the best talent in place to get the work done, create long-term value for the business and support business goals.
> Learn about total talent acquisition
In 2022, job changes reached a record high of 36.5% — and 30% of employees considered switching jobs according to the Randstad Workmonitor 2023 report. In other words, roughly one third of a business’ workforce is potentially mobile and looking for new opportunities. Meanwhile, it is estimated that more than 60% of a company’s future roles can be filled by current employees. But knowing when to look inward and when to go outside to fill skills gaps can be complex.
An outsourcing partner can provide organizations with solutions for internal mobility, reskilling and development programs that allow them to re-imagine how the work gets done with both internal and external talent, allowing them to dynamically shift and evolve with business priorities. By optimizing access to external talent while accelerating the mobility of internal talent, businesses can address multiple challenges while ensuring they have an additional and sustainable talent channel for the long term.
> See how outsourcing can support internal mobility
Getting caught in an endless cycle of hiring and laying off recruiting resources to meet fluctuating market demand can be damaging to a business in more ways than one. Frequent layoffs come with legal risks, unemployment costs and potentially a tarnished brand and reputation. Meanwhile, when it comes time to ramp up to meet evolving business demands, without having recruiters on hand to immediately address the hiring needs, a business will be at a significant disadvantage.
By working with an outsourcing partner, employers can scale recruiting resources up and down to meet demand — bringing workforce agility to the in-house talent acquisition team without adding headcount. And with several recruitment process outsourcing (RPO) models available, you don’t always have to commit to a long-term, end-to-end engagement.
Project RPO and selective RPO give you the opportunity to outsource recruitment for the short-term, for specific or niche roles, or even to tap expertise on specific parts of the recruitment process, such as onboarding, sourcing or candidate management. This means you get access to all the same benefits of end-to-end RPO — from process efficiencies and faster time to hire, to diversity hiring and talent marketing expertise, to market intelligence — but with a faster implementation time. In fact, many organizations like this approach because it gives them an opportunity to test recruitment outsourcing for their business.
Plus, no matter what model you implement, an outsourced talent acquisition partner operates on the latest technology using the newest and most effective best practices across talent attraction and engagement. Employers get new talent in the door faster, and at a lower cost, enabling them to start contributing to the business sooner rather than later.
> Take an RPO deep dive with the RPO Playbook
Your people are your greatest asset. And with the right talent strategies in place, you can set your business on a trajectory of success, despite the economic forces at play. Bringing on and laying off team members are part of any business. How you manage those essential activities can mean the difference between a business that thrives during disruption and one that’s always one step behind. When you outsource your talent acquisition function, you not only get quicker, more cost-effective access to better-skilled workers, you also create opportunities for your existing team to focus on critical initiatives.
Are you ready to gain a competitive recruitment advantage?