Measuring a successful RPO partnership
As with any other business venture, a recruitment partnership must be measurable and deliver return on investment. Measurement is intrinsic to the success of the relationship, demonstrating what works and where to improve, while informing future approach to resourcing processes and strategy.
Business leaders look for Recruitment Process Outsourcing (RPO) providers to work with them to achieve specific talent acquisition goals. These vary by business; for some, it may be a faster time to hire, and for others, improving employer brand.
But how do you measure this?
Of course, most businesses still look for transaction and quantifiable metrics such as; cost per hire, retention, time to hire and performance ratios such as CV:Interview and Interview:Offer. In RPO, these metrics are straightforward to measure and monitor, and ROI can be easily demonstrated, providing there are pre-determined SLA’s in place in order to set a baseline from which to lead from, enabling early success.
However, as the RPO market has developed, so business leaders are rightly looking for more out of their RPO provider. Not simply Management Information (MI) which demonstrates quantity, but quality. The provision of regular quantitative data together with consultative market information is central to a successful RPO model, in order to measure the service and its wider business impact, such as:
- Hiring Manager satisfaction
- Candidate experience
- Enhanced market intelligence and technical expertise
- Employer brand recognition
- Compliance/risk mitigation
Metrics have huge value in an RPO partnership. It’s imperative to choose a partner who not only knows how to measure performance, but knows how to work collaboratively with you to translate the data, in order to drive positive impact and help you to achieve your talent acquisition goals.
greenbean agile RPO solution offers a bespoke approach to recruitment metrics for our clients, offering a transparent data set underpinned by tailored MI data according to your specific organisational needs. Our RPO experts can help you transform your approach to recruitment.
Contact us today to find out how we can support your business needs.