In recent weeks, as consumer demand for goods and services, particularly in the tech sector, has increased, we've started seeing more positive earnings reports from major U.S. companies. What follows is the announcement by several of these corporations, such as Intel and Cisco Systems, to significantly increase hiring in the remainder of 2010.
As other companies follow suit and announce plans to ramp up hiring in the coming weeks and months, they'll have to evaluate if the need for additional headcount necessitates the immediate growth and expansion of their in-house recruiting teams, which, in many cases, were casualties of the economic crash. If you're one of the companies in this position, what are your options?
Rebuild your internal recruitment staff. If you anticipate that your recruitment needs will be steady for the long-term, re-growing your internal staff might be a good option. However, it can be very costly. With the future of your workforce uncertain or unstable, you might want to hold off on this option.
Outsource the function in its entirety. For many companies, the next few months will be a true test of their employees' loyalty and satisfaction. If your HR departments are preoccupied with enhancing the firm's retention efforts or other initiatives, consider outsourcing the recruiting process. Benefits of this include improving your time to fill, lowering your cost per hire, and improving your brand and the overall candidate experience.
Utilize project-oriented RPO. If you're not ready to commit to long-term, extended hiring, or sign a binding contract with a staffing agency, look for an RPO partner that can help you ramp up your staff on a project basis. For example, if you're ready to develop or launch a new product line, or you are hiring for cyclical needs, a project with a start/end date or particular number of hires might be a great fit for you.
Form a hybrid. If you have an internal recruitment staff that has been cut significantly, but you're not ready to entirely relinquish the recruitment reins, consider an add-on solution from an RPO vendor to augment what you already have in place. This could relieve some of the pressure on your in-house HR/recruitment teams and help ensure they don't become so overworked or stressed that they consider a departure from the organization.
With the unstable economy deterring companies from making major investments in their own recruitment staffs, we've seen a growing trend of companies relying on options two, three, and four to satisfy their talent needs.
Are you considering expanding your workforce? If so, what methods will you use?