Four-Year Study Reveals Recruitment Strategy Pitfall in Competitive Search for Job Talent.TOLEDO, Ohio
RPO Recovery Point Objective (disaster recovery) RPO Royal Philharmonic Orchestra RPO Rochester Philharmonic Orchestra RPO Representative Poetry Online RPO Railway Post Office ) solutions, conducted a study reviewing the achieved results of the top two models in RPO solutions over a four-year period. The study pinpointed a pitfall pit·fall n. 1. An unapparent source of trouble or danger; a hidden hazard: "potential pitfalls stemming from their optimistic inflation assumptions" New York Times. in one model, causing companies to realize only half as many hires as the other model. The pitfall also adds costs and time to the process of searching for talent. Significantly, the study also found the pitfall causes qualified candidates to lose interest and look at other opportunities. The search for talent is high on every company's agenda. In today's highly competitive business environment where knowledge and innovation are keys to success, people are increasingly important assets. Yet, employers are faced with retiring baby boomers See generation X. , fewer younger replacements, and the U.S. Bureau of Labor Statistics' projected labor shortage A Labor shortage is an economic condition in which there are insufficient qualified candidates (employees) to fill the market-place demands for employment at any price. This condition is sometimes referred to by Economists as "an insufficiency in the labor force. of 10 million workers in 2008. With many unfilled positions and industries with critical talent shortages, the recruitment process has become highly competitive. To address this challenge, companies are turning to two different models in outsourced recruitment strategies to increase qualified candidate traffic. "Both models drive a positive return on investment, increase qualified candidate traffic by 50-100%, and result in more hires than are achieved by in-house In-house In the context of general equities, keeping an activity within the firm. For example, rather than go to the marketplace and sell a security for a client to anyone, an attempt is made to find a buyer to complete the transaction with the firm. recruitment departments; but there is a significant difference in outcomes between the two models," explained Kim R. Davis, president, TalentTrack. "The competitive arena makes it imperative that employers avoid pitfalls in their recruitment strategies," said Davis. "Yet, our study found that, regardless of a company's good intentions, there was not a single incident over four years where the pitfall scenario did not occur." The study findings were consistent across industries. More information and a white paper reporting the study's findings are available upon request at TalentTrack. About TalentTrack TalentTrack is a national provider of Recruitment Process Outsourcing solutions. It partners with clients to create a customized solution to fill high-volume/difficult-to-fill positions in healthcare, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , and other industries. TalentTrack combines people and technology to deliver a seamless approach. The entire recruitment process is managed from planning through on-boarding and retention, with guaranteed results. |
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