The economy, pandemic effects and technology have continued to alter the way we recruit and hire. In fact, the change cycles to the talent and recruitment landscape are much shorter now, so it’s important that companies stay ahead of the curve. That’s where recruitment process outsourcing (RPO) can help in 2023. But first, let’s look at the challenges of recruiting in a tough market. 

Challenges of Recruiting in a Tough Market 

Many companies are continuing to struggle to find the right people, and the competition for top contributors is fierce. 

One of the biggest challenges is the “war for talent.” Labor demand is proving to be very resilient even with actions by the fed to raise interest rates. Companies are continuing to compete for the same talent which means it’s more expensive. In addition, candidates regularly court multiple companies. A recent study found that 2 of 3 candidates keep their options open even after accepting an offer.  

Another challenge is the need to stay up to date with the latest technology. Technology is playing an increasingly important role in recruitment, and companies need to be aware of the latest tools and trends in order to stay competitive. This includes utilizing tools such as AI and automation to streamline the recruitment process and making sure that the recruiting process is mobile and cross generationally friendly. 

Finally, companies need to ensure that their recruitment process is compliant. Companies need to be aware of the latest legislation and regulations to ensure that their recruitment process is in line with requirements. Pay transparency laws and regulations are currently an area of increasing focus in many areas across the country. 

Best Practices for Staying Ahead of the Competition 

Companies need to ensure that their recruitment process is agile and adaptive. This means utilizing a range of strategies and tactics to stay ahead of the competition. Here are some of the best practices: 

• Re-evaluate hiring practices: This can be a tough undertaking. This is why 6 in 10 employers have not evaluated the effectiveness of their recruiting process in the last 6 months. In today’s market, that’s too long! 

• Review compensation: Approximately 2 out of 3 employers have not evaluated their compensation levels in the last 6-9 months. This is not competitive in today’s landscape and will inevitably rear its head at offer time. 

• Implement or enhance employer branding: Employer branding is an important way to attract top talent. Companies need to ensure that their employer brand is attractive and appealing to candidates from all backgrounds. 

• Utilize data-driven decision making: Data is key to making intelligent decisions. Companies who use data to make their talent decisions enjoy improved productivity, better culture and less turnover. 

• Stay up to date with the latest technology: Technology is playing an increasingly important role in recruitment. Companies need to be aware of the latest tools and trends. 

• Focus on candidate experience: Candidate experience is an important factor in recruitment. Companies need to ensure that their recruitment process is engaging and enjoyable for candidates. 

• Good old-fashioned hustle: The proverbial statement “the early bird gets the worm” is true in recruiting. Making decisions faster on talent need and hiring will help companies win. 

How RPO Can Help in 2023 

Recruitment process outsourcing (RPO) is a great way for companies to streamline their recruitment process. RPO can help companies stay ahead of the competition in 2023 by providing a range of services, from recruitment strategy to candidate sourcing and onboarding. The key benefits of RPO are: 

• Strong consultative experience: RPO’s specialize in recruitment and encounter businesses of all shapes and sizes in multiple markets. They are uniquely positioned to have a depth of experience which is a huge benefit to the organizations they partner with. 

• Cost savings: RPO can help companies to reduce costs through improvements to recruiting process, leveraging technology, helping companies make faster decisions, and bringing more intelligence through data. 

• Increased efficiency: RPO can help companies to streamline the recruitment process and increase efficiency by bringing experiential best practices amalgamated through multiple engagements with clients. 

• Access to a wider talent pool: RPO can help companies access a much wider talent pool beyond applications. RPO’s will also proactively source needed talent when applications are not enough. 

• Improved candidate experience: RPO can help companies provide an improved candidate experience by providing quick information and better and more frequent communication which candidates crave. 

Conclusion 

Recruiting in 2023 will continue to be a challenge, but with the right strategies and tactics, companies can stay ahead of the competition. Recruitment process outsourcing (RPO) is a great way for companies to streamline their recruitment process to see cost savings to increase efficiency. Contact Skywalk Group to explore a customized OnRecruitÒ RPO solution. With Skywalk Group’s experienced team and data-driven approach, you can be sure that your recruitment process is optimized for success. 

By: Adam McCoy