Achieving strategic value with RPO 3.0
Generational shifts in the workforce and ongoing technological advancements are driving a new phase of talent acquisition. How well financial services and insurance companies navigate this phase will depend on their ability to leverage disruptive technology to their advantage by outsourcing it to an innovative RPO provider.
Over the years, RPO has evolved considerably, influenced by factors such as market pressures, talent supply chain models, and available technology. RPO 1.0 was characterized by a focus on meeting clients’ critical talent needs by means of fast, efficient, and affordable processes. RPO 2.0 involved a more mature and strategic approach with an emphasis on holistic and sustainable processes. This new phase, RPO 3.0, is about how well RPO providers can achieve value for clients in a talent marketplace that’s impacted by workforce changes and rapid technological disruption.
Navigating technology in talent acquisition
Every day, existing technologies are enhanced and new ones are developed that aim to make the talent acquisition process more efficient and cost-effective. Applications such as predictive analytics already offer a significant strategic advantage in the talent marketplace. And with the gig economy going strong, virtual talent communities and digital labor platforms drive employers’ ability to connect with and employ talent, regardless of their location.
Already, and moreso in the near future, we’re seeing things like AI-enhanced bots that assist candidates with job applications, and powerful visualization apps that can be integrated with various types of processes for easy interpretation. Moreover, since there are numerous opportunities to automate and optimize specific segments of the recruitment process, applications we haven’t even thought of yet will be developed.
The importance of having a forward-thinking RPO partner
Of course, these applications and platforms all come at a significant price point. With so many becoming available at the same time, it’s impossible for financial services and insurance employers to first, determine which ones are a good investment for their talent acquisition process, and second, set the wheels in motion to acquire and install these tools before they’re outdated and the next generation hits the market.
That’s why it’s critical to have a forward-thinking RPO partner like KellyOCG® to handle the research. At our Centers of Excellence, we’re prioritizing R&D in regards to the impact of disruptive technology on talent acquisition and management. Where financial services and insurance companies often only have the resources to evaluate one or two products (if that), we have the capabilities to assess as many as needed to obtain the best possible information and tools for RPO. We research the available applications, evaluate their potential and limitations, and examine how the most viable ones can be integrated into the recruitment process in order to maximize strategic value for our clients.
Financial services and insurance firms that want to remain competitive can’t ignore the impact of disruptive technology on talent acquisition. However, they can make a strategic choice to relieve themselves of the burden of having to test drive new technologies. By partnering with a workforce company like KellyOCG that’s leading the way in RPO 3.0, they can ensure they always get the talent they need via streamlined processes and powerful tech—without detracting from their core business operations.