The Great Rehire: What Is It & Where Does RPO Fit In?
You can see traces of the Great Resignation on every LinkedIn news feed or HR platform. The global pandemic caught us all off guard, exacerbating an already fierce rivalry for talent and the need to find the best individuals to fill a rapidly expanding number of unfilled positions. While the Great Resignation is no longer surprising, it has caused businesses of all sizes to reconsider their hiring and retention strategies. Around 65% of employees are actively looking for new jobs, and 88% of executives report higher-than-normal turnover.
Despite this, we’re approaching a new phase known as the ‘Great Rehire,’ which will have a marked impact on talent acquisition. So, what does this new trend signify for recruiters as businesses strive to exceed talent requirements in 2022 and beyond?
Recruitment Trends to Look Out For During Great Rehire
Since the outbreak of the pandemic, the US economy has recovered faster than projected. At the end of July, the Bureau of Labor Statistics reported 10.9 million job opportunities. According to a recent HRO Today and Broadleaf flash research, 72% of organizations anticipate hiring more people in the next 12 months.
The Great Rehire will require recruiters and talent acquisition professionals to approach hiring differently than they did pre-pandemic. Given that the Great Resignation was caused by employees having greater control over how they work, this presents some unique challenges.
As the Great Rehire gets started, here are a few of the more significant trends we’ll see:
Diversity, Equity, and Inclusion Will Become Crucial
Diversity, equity, and inclusion (DEI) should be incorporated into every step of the hiring process. As more employees seek out firms that promote diversity, DEI will become a critical component of hiring in the years to come. This involves utilizing diverse talent pools, developing DEI-based recommendation systems, developing DEI tech stacks, and utilizing integrations to aid in the de-biasing of recruiting operations (like interviews and job descriptions).
Faster Recruiting Processes Will Win Out
In 2022, the ability to transfer top people through your employment pipeline more swiftly and efficiently will be critical. With an average of 38 days, the need to get prospects through your recruiting processes more rapidly is key.
Talent Will Lead the Charge During the Great Rehire
While there will be more activity from candidates, especially as more employees look to change careers or positions, top talent will be in charge of evaluating potential employers and selecting the best company based on a variety of factors such as diversity, culture, development, compensation, and more.
Remote Recruiting Will Become Common Practice
Despite the fact that many companies have already adopted totally remote recruiting processes, this trend will continue, especially as mobile and social recruiting become more popular. Even if in-person hiring returns to ‘normal,’ recruiters will need to be prepared to use SMS and text-based recruitment to attract top prospects while still offering totally remote choices like virtual interviews.
Talent Relationship Management Will Replace Outdated Applicant Tracking Systems
It’s no longer enough to rely on an antiquated applicant tracking system (ATS) or a cumbersome CRM to manage your recruiting. We predict that talent relationship management (TRM) will swiftly overtake applicant tracking systems with little potential to nurture talent. TRM will offer more data and analytics, greater candidate interaction and nurturing, powerful CRM features, and more—including technologies that help boost diversity recruiting.
Why is Recruitment Process Outsourcing (RPO) Important During the Great Rehire?
For many firms, deciding whether to hire a recruiter before or after a critical hiring requirement can be difficult. Companies who wait to hire a recruiter until a hiring need arises, according to Brann, are already too late. A company can benefit from a recruitment process outsourcing program in the following ways:
RPO programs can grow and shrink in tandem with your company. If your hiring needs increase, you can expand your RPO program to include more recruiters. However, if your recruiting requirements decrease, you can reduce your recruiting support to just one RPO recruiter.
RPO services are completely customisable. An RPO partner may help with any aspect of the recruiting process, from sourcing and screening to onboarding and training. RPOs can assist in filling the top of the talent funnel with qualified and screened applicants who are ready to work, addressing a significant barrier that is currently obstructing firms’ progress.
According to conventional recruiting practices, a new recruiting team must deliver a return on investment within 30 days. RPOs are cost-effective precisely because of this. It’s challenging to find skilled recruiters, especially in today’s climate. As a result, when a company adopts RPO, it is already on its way to a more cost-effective recruitment solution.
Most RPOs are technical professionals who can provide their clients with tried-and-true technology solutions. Companies can often choose to use their own technology providers or integrate with those recommended by their RPO partner. RPO clients have access to best-in-class resources and can see rapid benefits because RPOs have the edge of vendor relationships and technological know-how.
RPOs provide their clients with all-encompassing support. RPOs speak with executives and tell them what they need to know rather than what they want to hear. Strategic RPO partners should always give firms an accurate appraisal of where they stand in relation to their industry competitors.
You Need a Trustworthy RPO Partner
RPOs must be thought of as trusted partners as well as outsourced suppliers. If you’re going to lend your firm’s name and reputation to an outsourced solution, be sure it’s a reputable organization in the field. Make sure you’ve done your homework.
Companies will need a reliable recruitment partner on their side as the Great Rehire progresses. RPOs provide a comprehensive, cost-effective, and unified recruiting service to support internal talent acquisition processes and handle the incoming flood of hiring needs.
Reach out to Noon Dalton’s RPO experts to find out how we can support you and bring value to your company.