Is your RPO equipped to face industry challenges? The role of industry specific RPO providers.
No matter what cycle the market is in, the ability to attract and retain top talent is crucial. Recruitment Process Outsourcing (RPO) providers have become a popular solution for many companies looking to streamline their hiring processes and improve efficiency. However, the unique challenges faced by different industries mean that not all RPO providers are created equal. In 2024, it's essential to assess whether your RPO provider has the specialised knowledge and capabilities to meet the demands of your sector.
Unique Challenges Industries Face.
We’re no stranger to industry challenges, in the STEM sectors and particularly manufacturing and engineering, there have been both bumps in the road but also skill-set challenges. With the pandemic causing long term changes and industry fluctuations, each sector will present its own unique scenarios to face. Here’s some to keep an eye out for;
Technological Advancements
With rapid advancements in technology, companies are increasingly relying on cutting-edge technologies such as IoT, robotics, AI, and machine learning. This requires a workforce with highly specialised skills that are often difficult to find and recruit, or may even cause a long term skills gap or overstaffing in areas.
Skills Shortage
Your industry could be facing skills shortages for varying reasons. Within STEM sectors, the demand for expertise in areas like advanced manufacturing, automation, and digitalisation far outstrips supply, making it challenging to fill critical roles and needs a long term view on workforce planning to navigate to a solution.
Project-Based Work
Project based work often have fluctuating workloads and specific timelines, requiring a flexible workforce that can be scaled up or down as needed. This necessitates a deep understanding of the industry's project cycles and resource requirements.
Compliance and Government initiatives
Adherence to strict regulatory standards and industry-specific certifications is essential. Recruitment processes must ensure that candidates not only have the right skills but also meet compliance requirements presented by each sector. Government policies may also have a positive or negative impact that your provider needs to be aware of.
What Hurdles Are There For Non-Industry Specific RPO Providers
Talent Pooling
A large part of fulfilment, particularly when considering workforce planning, involves talent pooling. Commonly, industry experts and specific resourcing teams take this responsibility, drawing on years of experience in the areas and sectors. A team without this focus may struggle to develop these pools or will be embarking on a new journey to achieve this.
Expertise and Advice
A true RPO provider is more than just fulfilment, with customers demanding more consultancy services than ever it’s vital your RPO is able to respond quickly to demands and advise on industry issues. Although they may have a 2nd tier for fulfilment with expertise, can they efficiently provide industry tailored advice and plans directly.
Cost to Source
A successful RPO needs to be priced so a customer is happy, however a provider needs to ensure that the agreement is financially sustainable in order to deliver successfully. Non industry specific providers may face increased costs when relying on an external supply chain to provide expertise, or when building an infrastructure of experience when entering a new sector.
The Role of Industry Specific RPO Providers
While RPO providers offer valuable services, they often lack the industry-specific expertise needed to effectively address unique demands. Partnering with an industry-specific RPO provider can provide the expertise, talent access, and tailored strategies necessary to attract and retain top-tier talent.
As the landscape continues to evolve, it's crucial for companies to assess their recruitment partnerships and ensure they are equipped to face industry challenges head-on. An industry-specific RPO provider could be the key to unlocking a more efficient, effective, and compliant recruitment process, driving success in a highly competitive market.
