Talent acquisition isn’t how it used to be because nowadays recruitment demands are more methodical. In addition, the competition on finding the best candidates becomes more and more tight. Workplace Trends states that 79% of HR managers struggle on finding best fit people who match the job requirements of their organization. Usually candidates fall short on the following:
- Relevant on-the-job experience
- Soft skills
- Industry knowledge
- Strong work ethic
While the number of work opportunities increase, the skill gap remains. This results in multiple companies competing to a shrinking talent pool. Other challenges in recruitment are:
Unlike the older generations, the younger workforce is more accustomed to jumping from company to company, with an average tenure of not more than 3 years in an organization. If they don’t find their sense of purpose and are satisfied with the career development or the training program your company has to offer, they usually look for the next big thing.
Decreased Volume of Applicants
SHRM study shows that 51% of organizations do not make quality hires from either lack of talent supply with the increasing workforce demand or that your company has no online presence. It is important to note that ⅓ or 80% of applicants are looking for jobs online.
Most if not all companies aim to hire the best people to employ. Yet shrink in the talent pool makes hiring a competition between businesses. Job seekers with the best skills and sufficient experience usually choose which company to commit. But if you don’t have a solid recruitment process nor access to these talents, you won’t get the best people for your organization.
Company Name Recognition
It’s easier for well-known companies to make a hire. For small to medium businesses, the candidate pool gets even smaller making it more difficult to fill in job openings. You have to have a good reputation or a brand presence for applicants to trust your organization enough to apply for a job vacancy. Your recruitment team should have strategies to keep the ball rolling despite said competition from reputable companies.
79% of hiring managers admit that they don’t know how to resolve these challenges. But a smart way to circumvent it is by finding an outsourcing company who can ensure building great high-performing teams for you. But why is access to world-class talent important for an outsourcing company?
- Gives You a Range of Services and Quality of Talent
A good outsourcing provider has a dedicated team of highly-experienced recruiters who can deliver results by making quality hires. A solid recruitment team knows where to source candidates that will fit the unique needs of your business. Lastly, a short recruitment cycle attracts high quality applicants and good candidates.
At Infinit-O, we have access to over 9 million job boards, have partnership with professional and non-professional organizations and top universities so we have the first dibs on quality job seekers with the right skill set, knowledge, experience and certifications. We also don’t limit ourselves to geographical borders but we find people from all over the world.
- Provides a Fast and Efficient Hiring Process
The right outsourcing partner ensures a 30-45 days hiring to onboarding because having access to world-class talent makes the hiring process faster and efficient. This fast yet quality recruitment process results in an overall impact on business performance because skilled professionals can start procuring for your business within the strategic timeline. This efficient timeframe not only fills in needed positions but ensures that they are trained and on-board before starting assuming the role.
- Cost Savings Opportunities
Access to a sufficient talent pool decreases cost-per-hire and time-to-hire therefore allowing you save operational and hiring costs Always bear in mind that extended recruitment cycles are costly, aside from the operational expenses needed in finding people for your company, delay in hiring people results in delayed workforce operations that have a significant effect on opportunity income and profitability.
When looking for an outsourcing partner, another thing you must remember is to partner with one that has a High Net Promoter Score.
Why does a high Net Promoter Score equate Operational Excellence?
Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.
In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.
Look for a trusted outsourcing company that can help you build a dedicated F&A team that has:
- Access to talent through their A+ recruitment process
- Cost saving of up to 70%
- Adaptability in technological advancement
- Established Information Security
- Operational excellence
- Building great, high-performing teams
- Information and data security
- Sense of security and peace of mind
Partnership with Infinit-O
Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.
Infinit-O Key Benefits:
We can build you a great teams for the following line of business: