Published on : May 23, 2017
Albany, New York, May 23, 2017: Buoyed by economic rebound in most developed markets, the recruitment process outsourcing (RPO) market is forecast to report a strong growth in the forthcoming years. The report covers the key restraints posing threat to the global recruitment process outsourcing market.
The rising use of neo-sourcing will have a positive influence in the overall market. Neo-sourcing integrates IT outsourcing with BPO and advanced BPO models offered by outsourcing enterprises. Also the surging business process integration and improvements in technological solutions to reduce costs and boost productivity, will fuel the demand for recruitment process outsourcing. On account of transformation witnessed in business and optimization as a result of combined management of technology for re-engineering and back-office processes, the demand for recruitment process outsourcing is increasing at a robust pace.
Furthermore, the RPO technology offers benefits such as cost reduction, process optimization, access to global practices, increased employee morale, improved productivity, and reduced cycle time. As organizations around the world realize the benefits offered by recruitment process outsourcing they are likely to focus on implementing it. This will also help organizations to focus on their core competencies.
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Regionally, the Americas have been exhibiting the highest demand for recruitment process outsourcing. According to market experts, the trend is unlikely to change in the near future. The rising adoption of RPO in North America is bolstered by high investment in novel technologies boasted by developed nations in the region. Besides this, the market is expected to witness lucrative opportunities across South America, Argentina, and Brazil.
In the last few years, recruitment process outsourcing has forayed across industries such as telecom, services, healthcare, manufacturing, BFSI, and energy. Of these, the BFSI sector emerged as the forerunner in adopting recruitment process outsourcing. The rising investment in product innovations, favorable regulatory compliance, and need to ameliorate cost efficiency have had positive impact on this segment.
The report studies in detail the various factors promoting the market’s trajectory across the aforementioned segments. It also includes refined outlook for the recruitment process outsourcing market across the key end users. Considering the high growth opportunities it offers, the global recruitment process outsourcing market has attracted an increasing number of companies. This has rendered the market’s vendor landscape highly diversified and competitive. Also the emergence of start-up firms has fuelled the competitive rivalry among the market players.
Some of the most prominent vendors operating in the global recruitment process outsourcing market are IBM, ADP, Randstad Sourceright, and ManpowerGroup. Other enterprises exerting considerable influence on the market through their strategies are Alexander Mann Solutions, Accenture, Allegis Global Solutions, Hays, Futurestep, Infosys, Hudson, Pontoon Solutions, and KellyOCG.
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