2015: RPO’s Had a Good Inning and More is Yet to Come!
It’s an eve of celebrations and jingles out everywhere! With the Christmas and the New Year just at the brim, the air is getting merrier and merrier. The dinner parties, the gifts and the wines… and yes the shopping rush, puts on the celebrations to a higher note.
Parallel to this growing joyful ambiance, equally rattling is the Staffing Business. The towering wave of talent hunt just does not seem to recede. With the acceleration in the global business scenario, and trade and business crossing boundaries, there has never been a dearth of demand for resource from organizations. The staffing agencies are at their toes to fulfill their client’s demand and recruit apt talent for them.
The recent stats say that the staffing, recruiting, and workforce solutions industry makes a vital contribution to the U.S. Economy, and provides job opportunities for some 14 Million Employees per year. (Source: amercianstaffing.net). In order to achieve flexibility, ease and fast TAT, Offshore RPO Companies, have a vital role to play. These recruitment partners prove to be an asset when it comes to delivering efficiency and easy access to qualified talent.
RPO Business has ruptured from a very tiny market share to now become an indispensable wing of Recruitment Process. RPO Business in India landed up in bracket of Rs. 400 crore in the year 2015 and is expected to grow at a staggering rate of 40-50% for the next few years (source: ET). The trends witnessed so far in this industry are listed below:
1. RPO engagements are no more restricted just within multiple countries but have crossed to get into multi-continent deals.
2. Non-traditional industries such as travel, hospitality and other service industries are resorting to RPO channel.
3. Add-on peripheral tools such as analytics, software and other recruitment solutions seem to bring in more value to the process.
4. Employer branding brings in an added-advantage to organizations while they associate with RPO firms.
5. Outcome oriented pricing structure and precise SLA’s bring in lot of feasibility and moreover, the professional services and economically affordable cost becomes a perfect combination to make RPO companies the most sought recruitment partner.
In a recent interview of CFO Robert Jan van de Kraats and Randstad India CEO Moorthy Uppaluri in TOI, the leading players in this business, foresee this business sector booming up magnanimously and bringing in more innovative solutions to desk. This special discussion points out RPO as a very rewarding business proposition in the forthcoming year.
These positive indications make L7 Resources dive and dig for more opportunities. We are equally excited and eager. So, let’s wait and watch for the RPO magic wand doing wonders in the world of talent hunting and help the growing RPO companies like us achieve new milestones!