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A high proportion of employers in Asia will consider outsourcing all or part of their organisation’s recruitment and talent strategy in the next five years to gain access to niche and hard-to-find talent.
The 2013/14 Randstad World of Work Report released today revealed that Employers in China take the lead with 72% planning to outsource their recruitment process, followed by India (70%) and Malaysia (66%).
Outsourcing, also known as recruitment process outsourcing (RPO), involves a company contracting out all or part of its recruitment process to an external service provider to address strategic talent acquisition and management.
Randstad Malaysia director, Jasmin Kaur, said the findings highlighted how employers in Malaysia were stepping up efforts to attract and retain talent. She said RPO solutions allowed organisations to plan a strategic response to talent shortage by providing access to individuals with niche and specialised skills through work-ready candidate networks. It also reduces hiring time for business critical roles and positively impacts workforce productivity.
“Randstad’s research indicates that one third of employers (30%) would consider outsourcing to manage business growth and build a total talent solution across permanent, temporary and contract hires,” added Jasmin.
The report found that leading employers have realised that one of the best ways to achieve a ‘talent-ready’ workforce is to adopt adaptive workforce planning models, improve HR systems and refine recruitment selection processes.
Despite this, only 39% of organisations in Malaysia use processes such as workforce talent analytics as part of their strategy to seek and engage talent.
The annual Randstad World of Work Report is in its eighth year and covers Malaysia, Singapore, China, Hong Kong, India, Australia and New Zealand.