OCTOBER 2021HR TECH OUTLOOK6As businesses are highly focused on identifying and acquiring the right talent, the recruitment process outsourcing (RPO) industry is booming. In fact, according to Grand View Research's report, the global RPO market is expected to grow with a CAGR of 18.5 percent and reach USD 20.8 billion by 2027. It is becoming increasingly critical for employers seeking talent differentiators as RPO has grown into a reliable method of acquiring the right talent worldwide across industries. RPO service providers take a tailored approach to deliver solutions, including advanced analytics, the latest benchmarking, and efficient workforce planning services that add value to partner companies. Gleaning attributes such as organization culture effectively, RPO experts can help businesses create a strong pipeline and ensure a continuous improvement in the entire hiring experience and reduced turnaround time. RPO specialists also enable firms to understand the available talent pool and bring market intelligence to approaches while helping organizations differentiate their employer brand.However, the economic impact of the COVID-19 has forced RPO providers to pivot their business and strategies. With these unexpected crises, RPO providers have to change course to adapt to external, uncontrollable forces quickly. They adapted virtual recruiting technologies to attract remote candidates by conducting virtual interviews, onboarding, and training effectively. As a result, RPO providers helped employers maximize internal talent pools and employ effective internal hiring strategies. This evolving relationship between RPO providers and companies is also helping employers in amplifying their brand as RPO offers exceptional communication experience to the candidate through consistent, transparent, and honest feedback that builds the organization's reputation. Moreover, the adoption of technologies in the hiring process is improving the scalability and flexibility of recruitment, making the hiring process steady and effective. As more and more RPO providers introduce AI for sourcing and screening candidates, it reduces human errors and manual workloads by automating several tasks of hiring operations. Consequently, they are helping organizations ease the burden of the talent acquisition function in this unprecedented time when future jobs and skills are becoming unpredictable.Let Us know your thoughts.Redefining the Hiring StrategiesHanna WilsonManaging Editoreditor@hrtechoutlook.comManaging EditorHanna WilsonEditorial StaffSalesAaron PierceAva Garcia Philo VazRussell ThomasVisualizersChris LynnCalvin JamesEditor's NoteShirley Jacobsshirley@hrtechoutlook.comCopyright © 2021 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staffEmail:sales@hrtechoutlook.comeditor@hrtechoutlook.commarketing@hrtechoutlook.com HR TECH OUTLOOKOCTOBER- 18 - 2021, Volume 07, Issue 11 (ISSN 2644-2477)Published by ValleyMedia, Inc. To subscribe to HR Tech OutlookVisit www.hrtechoutlook.com Ronald Donovan
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