The Recruitment Process Outsourcing (RPO) market has, over the past decade, greatly benefitted from the dislocations in financial markets caused by the 2007/08 global economic crisis. While corporates lowered headcounts and stripped associated hiring costs in the depths of the crisis, a new dynamic in hiring took prominence as confidence returned to markets. The demand for talent became a business imperative.
However, with the benefits of these ‘passive’ forces now wearing thinner, RPO providers are having to think more creatively and laterally about how they continue to provide value beyond more traditional recruitment arrangements.
In our recent report, we spoke to 10 leading RPO players, along with talent acquisition technology providers and multinational corporates to find out how the RPO model has evolved and their expectations for the next few years.
2. Introduction
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Recruitment Process Outsourcing (RPO) has been
gaining remarkable traction over the last two decades,
as companies have sought to balance their needs to
recruit talent whilst also managing costs.
More recently, there has been a proliferation of technology tools
addressing different steps in the talent acquisition process, which
could both facilitate and disrupt the market.
We talked to ten leading RPO players, several talent acquisition
technology providers, and a number of multinational corporates to
understand how the RPO model has evolved and their
expectations for the next few years.
Sources and references
1 Key RPO services used – Korn Ferry, The Talent Forecast, 2017
2 US churn rates – Compensation Force
Market intelligence – Grant Thornton research and interviews
Introduction