Experts estimate that 30% of large organizations use RPO for some or all of their recruiting, and the PRO market is expected to grow up to $4.4 billion in 2015
A recent study shows that staffing for HR data analysis is a top area of investment for large companies
With the growth of company’s brand perception due to social media, the growing war for talent, and the advances in the use of big data in employee hiring, HR is being thrust into a position of marketing for talent
At TrendLine, we’re always focused on what’s trending in anything to do with contingent worker supply and demand. This month, we’re presenting our quarterly view of critical trends in key talent sectors of the staffing industry and human resources.
RPO stands for Recruitment Process Outsourcing, which is defined in simple terms as the outsourcing of some or all recruitment functions. Experts estimate that 30 percent of large organizations use RPO for some or all of their recruiting, and the RPO market is expected to grow up to $4.4 billion in 2015. HR departments will probably be looking at investing in Applicant Tracking Systems (ATS) as a technology solution to help them improve efficiency and visibility, while mitigating risk in recruiting all types of workers. The staffing industry is taking advantage of this growth area to offer products and services that incorporate RPO, including mobile technology, online staffing, social recruiting, MPS/VMS, ATS, job matching, and data analytics.
HR departments are starting to explore big data and data analysis as a tool to enable decision-making and workforce planning. Talent analytics allows managers to use their volume of employees, HR, and performance data to anticipate leadership and talent gaps and to develop candidate pipelines. A recent study by Bersin by Deloitte shows that staffing for HR data analysis is a top area of investment for large companies. Read our article – “Predictive Analytics Applied in HR” - in the July edition of DCR TrendLine for more on this topic.
Historically, HR has been removed from marketing functions. However, with the growth of company’s brand perception due to social media, the growing war for talent, and the advances in the use of big data in employee hiring, HR is being thrust into a position of marketing for talent. HR executives need to team up with marketing departments, and use consumer-marketing principles, to design and build internal employer brands that will attract and retain workers.
“HR is evolving to start looking at the marketplace differently because of the skills shortage and talent gap. We’re building the workforce differently than just the traditional ‘full-time and part-time’. [Now there are] full-time, part-time, contingent workers, volunteers, etc. HR can build and mobilize a culture to attract the talent you want.” ~Bram Lowsky, Group Executive Vice President of the Americas at Right Management.