Rightsourcing is selecting the best way to procure a service and deciding whether a company is best served by performing a business requirement in-house (insourcing) or contracting it out to a third-party service provider (outsourcing).
The process helps HR teams evaluate multiple options and then take a data-informed hiring decision for the organization. With the widening skills gap, it is becoming harder for in-house recruitment teams to find highly qualified candidates. Rightsourcing helps optimize the hiring process and build a pipeline of great-fit candidates through multiple recruitment channels. Analysis for making the decision may be based on cost savings, but it also takes into account quality and expediency. In some larger companies, a vendor management office is responsible for carrying out a comparative analysis and recommending the most appropriate sourcing arrangement.
According to the Association for Talent Development's 2018 State of the Industry report, outsourced activities account for more than one-fourth of direct learning expenditures. In addition, the e-learning market is estimated to exceed $240 billion by 2023. Should you outsource learning? Effectively answering that question is rightsourcing.