Because the business and recruiting landscape continues to evolve, it's useful to keep up with the latest trends. According to recent data, businesses spend a little over three thousand dollars for every candidate they hire. That marked a 6% increase from the previous year alone. To put that number in perspective, it means businesses across the US are spending over $70 billion a year on products, staff and services related to recruiting.
Although corporations understand the need to have a solid budget in order to attract the types of candidates their organization needs to grow and thrive, that doesn't mean companies are able to handle this task entirely on their own. Since recruiting can be a very challenging process, companies of all sizes are turning to external recruiters who can deliver candidates with the right sets of skills.
Recruitment process outsourcing, which is commonly referred to as RPO, is one of the key trends that is driving this industry. A simple way to think of RPO is as a mix of data, technology and services related to recruiting that live in the cloud.
While the term RPO can actually be traced back to the days of widespread outsourcing, current recruitment process outsourcing is far more sophisticated. The two main reasons that RPO is such a sophisticated process is because of the amount of data that's available, as well as the functionality that the cloud provides for putting this data to use.
What's interesting about the current job market is even though there are lots of candidates out in the world, the sheer volume has made it quite difficult for companies to identify and bring in the right prospects. Since it can be daunting to cut through the amount of noise that's out there, companies often turn to recruiting professionals for guidance.
One of the major benefits of working with a recruiting expert is a company will be able to learn more about what strategies they can utilize to ensure they're attracting the types of candidates they desire.
Of all the areas where businesses are competing for talent, engineers are at the top of the list. Not only are engineers in demand at technology companies, but businesses in sectors outside of technology are realizing the importance of making engineering a key component of their culture. Add to that the fact that there's a shortage of engineering talent (as well as the difficulties associated with identifying properly qualified engineers), and it's easy to see why most companies are turning to recruiters with specialized engineering expertise.
If you're a business owner or representative who is looking for a proven way to bring in qualified candidates (including engineers), be sure to read more about the services that M4 offers.
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