A recent survey found that 72% of employers in the GCC plan to hire a high volume of new staff by the end of the year, compared to only 37% hiring in 2016. These figures highlight a strong demand for skilled professionals, intense competition amongst employers and the need to refresh talent attraction and retention strategy to stay ahead.
While some companies may have in-house recruitment specialists or recruitment agencies trying to fill certain roles, more organisations are recognising that attracting and retaining the right kind of talent at scale in the region requires a more sophisticated, scalable and sustainable approach. In fact, over 81% of regional talent leaders said that hiring quality talent is their organisation’s top strategic priority.
Forward-thinking employers are refreshing their recruitment strategy to gain a competitive edge by partnering with recruitment process outsourcing (RPO) providers to manage all or part of their internal recruitment function. The best RPO partner for your business will listen to your recruitment challenges, know your company culture inside and out, and provide a combination of expertise, tools and a dedicated team to deliver a talent acquisition solution customised for you.
So how do you know if your organisation needs to refresh its recruitment strategy?
1. You don’t have the full picture of your recruitment costs. Even though your recruitment process may appear to be operating just fine, many organisations are unaware of underlying inconsistencies and inefficiencies that impact recruitment costs and quality. Many executives we speak with underestimate recruitment costs by as much as 4x below the actual figure! An effective RPO partner can pinpoint recruitment process issues and work with you to optimise your long-term talent acquisition capabilities, add sustainable value to your business and reduce costs.
2. Your business is growing quickly. Major headcount change and sudden spikes make it difficult for any business to attract the right highly-skilled talent at such a high volume. Hiring a recruitment agency or more staff in-house can drive up costs significantly and neither method is flexible enough to meet fast-changing talent acquisition needs, particularly for organisations looking to hire 50 or more skilled professionals in a year. This scenario is common with organisations whose hiring requirements are dependent upon project-based recruitment or seasonal recruitment spikes, and an RPO partner will be able to flex their teams to align with your hiring requirements. An RPO partner can design talent acquisition solutions that align with your organisation’s vision and growth strategy, hiring the right talent at the pace and volume your business demands.
3. Your internal resources are overwhelmed. HR and recruitment staff are often over-stretched or under-resourced, particularly in times of increased staffing demand. A dedicated RPO partner can serve as all or part of your recruitment function, understanding your organisation’s culture and DNA, creating a consistently smooth experience for your Hiring Managers and candidates alike and providing comprehensive reports that make it easy for your to understand what’s working, what isn’t, and how to improve.
4. You’re experiencing a higher than average turnover rate. If you’re losing top performers to your competitors, spending thousands on replacing staff or seeing decreases in overall productivity, it’s time to refresh your recruitment strategy. A true RPO partner has years of experience across all aspects of recruitment and can work with you to deploy an effective solution for attracting high-performing employees that are a good fit — and keep them.
If you’re seeing any of these signs in your business, Parisima is here to help. We partner with you to design custom solutions as part or all of your recruitment function so you can optimise the performance of your business. We do this by providing you with the people, processes and tools you need to find, attract and retain quality talent at scale. If you want to learn more about how you can build a business of performance through talent, contact us at email@example.com.
– By Reg Singh, Partner, Parisima