In these turbulent times – where our government is not leading either politically or economically to bring forth quick correction/ changes to a pessimistic business situation, I feel industry managers/ employers have to be innovative. In Recruitment space as well as Training services domain – effort should be to encourage ‘change’ that will necessitate action to go forth.
Recently, I was called in by a leading Executive search firm in Mumbai, to explore opportunities of working together. Of course, without elaborating much, the need was to start up new vertical/ Industry practices wherein the Search firm was not well established as yet. The meeting lasted 3-4 hours and at the end of it, I said that the ‘only’ solution is ‘Innovation’ to cut down business risks and ensure time-bound results. Starting any new business in turbulent times involves lot of investment, not only just funds but also by way of new ideas, initiatives that may look risky to adopt at the start ! Recruitment Process Outsourcing (RPO) and Temporary Staffing seem to me as viable innovative options to address these issues. The Recruitment Process Outsourcing Association defines RPO as follows: “when a provider acts as a company’s internal recruitment function for a portion or all of its jobs. RPO providers manage the entire recruiting/hiring process from job profiling through the onboarding of the new hire, including staff, technology, method and reporting. Needless to say, A properly managed RPO will improve a company’s time to hire, increase the quality of the candidate pool, provide verifiable metrics, reduce cost and improve governmental compliance.
By way of RPO, a Large Executive Search company can look at time-bound solutions and safeguard itself from long-term commitment/ resources that are normally offered to their employees. This can also lead to ‘specialist’ services provided by start-up specialists like us, who have ample experience in successfully starting up new ventures in a wide spectrum of business enterprise. Start-up expertise coupled with wider spectrum/ industry knowledge across specific verticals will elevate chances of success in much shorter period. It could be profit-sharing besides fixed income, to increase our interest and commitment as ‘free-lance’ recruitment consultants.
At Rambuna Consultants, we work in tandem with Large Executive Search companies – including the international firms – as their RPO associates or ‘profit-sharing’ free-lance consultants so as to increase their reach to newer markets or verticals. Besides, this option creates a business opportunity for us to extend our start up expertise to develop and/ or sustain new business interests of established Large Executive Search companies.