Novotus Predicts Rise of RPO Services in 2008: High Employment Rates Not Adversely Affected by Housing Bust

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HR professionals expecting increased hiring shortages and challenges throughout 2008.

As a result, companies are searching for a cost-effective recruiting solution that drives improvements in recruiting, from employment branding and candidate sourcing all the way through interviewing and onboarding of new employees.

The slowdown in the housing and mortgage banking industries do not seem to be having a spillover effect into the broader employment market, according to a recent survey conducted by Novotus, an Austin-based recruitment process outsourcing provider. In fact, the survey indicates human resource professionals are increasingly concerned about their companies’ ability to hire qualified job candidates.

Fifty-six percent of the human resources professionals surveyed said that finding talent for their organizations has become more challenging, with 49 percent anticipating even more difficulty over the next six months.

These figures indicate that while the housing industry is busting, employment rates are booming. This is good news for the average worker, but for human resources professionals charged with the task of filling vacant seats with quality employees, high employment rates equal major challenges. Thirty-one percent of them reported more difficulty in sourcing candidates over the past year.

Perhaps that is why 59 percent of all questioned already are using or considering the use of recruitment process outsourcing firms to alleviate the pains of sourcing candidates.

Novotus predicts a sharp rise in the rate of employers who will come to depend on recruiting companies for their hiring needs throughout 2008.

“Traditional staffing companies have failed to partner effectively to solve the looming talent shortage brought on by the retirement of the baby boomers,” said Novotus COO Jim Taylor. “As a result, companies are searching for a cost-effective recruiting solution that drives improvements in recruiting, from employment branding and candidate sourcing all the way through interviewing and onboarding of new employees.”

Which employees are hardest to find? According to the survey given at the HR Southwest Conference in Fort Worth, sponsored by the Society for Human Resource Management (SHRM), engineers are in high demand and low supply, followed by information technology and sales professionals.

“For now it looks like hiring will continue to be strong in 2008,” continued Taylor. “If it does slow at all that will give companies a window to get their recruiting issues solved, as it will be a short-lived slowdown. By 2012, the Bureau of Labor Statistics forecast projects that in the U.S., we will have 3 million more jobs than available workers for those positions. Companies have to be aggressive about their workforce plans.”

About Novotus
Novotus, based in the U.S., is a modern recruitment process outsource provider that fuses together the services offered by recruitment process outsourcing companies and traditional staffing companies. Founded and directed by professionals who sought to meet the changing needs of companies, Novotus has altered the landscape of recruitment process outsourcing. For more information, contact Jim Taylor.

Novotus is a founding member of the Recruitment Process Outsourcing Association.

This press release was distributed through eMediawire by Human Resources Marketer (HR Marketer: http://www.HRmarketer.com) on behalf of the company listed above.

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Jim Taylor
Novotus
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