As the year comes to an end, most businesses have come to realize how a pandemic can distort the estimates of profitability and growth. It has also changed the manpower and hiring requirements of a number of business which were on an upward scale before the pandemic and have had to cut back ever since. As per the US Bureau of Labor Statistics, the occupations and industries that have seen a rise in the preceding two quarters are health care, technology, and e-commerce. So, what does this imply for the staffing and hiring forecasts for the year-end and the coming 2021?
As per the reports of the US Bureau of Labor Statistics, nonfarm payroll rose by 661,000 in September and the unemployment rate waned to 7.9%. With 2021 arriving, many companies are planning their talent rebuilding models. One of the most efficient ways to boost up your talent acquisition strategy is Recruitment Process Outsourcing (RPO). RPOs are the specialist service provider when it comes to scouting and hiring the right talent for any organization. They provide the necessary skills, activities, tools, and recruitment supply chain partners required for the client’s recruiting department.
With the US market bouncing back from pandemic organizations all across are looking to expand their workforce and increase their productivity. With businesses going remote to protect their staff against the wrath of Covid-19, it has become a tad bit difficult for them to do internal recruitment and hiring without exposing themselves to the uncertainty of the Coronavirus. This is where RPO services can come in handy. RPOs work as the extended team of the organization’s HR department and provide end-to-end recruitment for that organization. They can quickly get hold of a large number of potential candidates and provide a technology-enabled recruitment process keeping the organization’s internal team unharmed.
This trend of remote work may well go beyond 2021 and is expected to be the new normal even after the pandemic ceases. In such situations, the need for specialized RPO services will increase manifold as businesses across all the industries will look for a remote recruitment process. This will allow businesses to focus on their core goals and increase their profitability without having to worry about talent acquisition and management.