Tuesday, 19 July 2016

Recruitment Process Outsourcing (RPO) Market : Global Industry Information, Market size and Strategies 2023

As stated in a recently published information by Credence Research “Recruitment Process Outsourcing (RPO) (On-demand RPO and End-to-end RPO) industry - Growth, Share, Opportunities, Competitive Analysis and Forecast 2015 - 2022” the global recruitment process outsourcing (RPO) industry was valued at US$ 3,537.2 Mn in 2014 and is estimated to expand with a CAGR of 14.4% from 2015 to 2022.
Industry Insights
Recruitment process outsourcing (RPO) refers to an outsourced service where the client organization handovers all or some of the recruitment processes to a third-party (RPO) vendor. The most significant factor fueling the industry growth is the reduction in overhead costs of the client organizations. Additionally, outsourcing recruitment processes makes hiring much easier, faster and productive as compared to the traditional recruitment processes. This has made large number of companies across the world turn towards adoption of RPO in recent years. Due to rising penetration of the overall outsourcing concept, the RPO industry is expected to witness strong growth in the coming years.
RPO is popular majorly in North America and Europe where the adoption of these services dates back to early 2000’s. However, Asia Pacific is estimated to emerge as the highest growing industry for RPO, in terms of revenue and adoption, in the coming years. The demand for RPO service is majorly governed by the rising number of business enterprises coupled with the need for productive recruitment. Due to strong growth across various industrial sectors in countries such as China, India and some of the Southeast Asia countries, the RPO industry in Asia Pacific is expected to expand nearly fourfold by 2022.
Browse the full Recruitment Process Outsourcing (RPO) Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2022, report at :http://www.credenceresearch.com/report/recruitment-process-outsourcing-rpo-market
Competitive Insights:
The global recruitment process outsourcing industry is highly consolidated in nature with few major players contributing to over eighty percent of the total industry revenue. Some of the major players in RPO industry are ManpowerGroup Solutions, Alexander Mann Solutions, Hudson Global, Randstad Holding NV, Kenexa Corporation and others. Nevertheless, these players witness significant penetration challenges due to presence of local/regional players. Most of the global RPO vendors have partnered/acquired the regional players in order to establish their presence in concerned industrys. Additionally, due to increasing popularity of RPO services, more number of regional players are expected to emerge in the coming years making the industry further competitive.
Key Trends:
Acquisition of small and medium scale RPO vendors; partnership with regional RPO vendors
Shift towards countries/regions with major labor shortage
Offering customized and low cost solutions in order to compete with the local players
Focus on emerging economies such as India, China, Brazil, Argentina and some of the Eastern Europe countries

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3 comments:

  1. Nice Post,RPO Services is a recruiting process outsourcing firm based in INDIA, providing services worldwide. RPO Services promises to reduce your recruitment cost and time more than 50% and increases your productivity by 50%. Together we will be 100% the perfect stop for your entire recruiting support. We have knowledge in providing an array of experts.

    Visit:http://rposervices.com/

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  2. RPOServices is into informing the marketplace regarding Recruitment Process Outsourcing (RPO) services, which include common metrics and comparison in order as defined by staffing, development and enforcement of certifications and endorsement of RPObenefits
    Visit: www.rposerviecs.com

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  3. I admire your point that outsourcing recruiting provides you for concentrating more on your core business. Another reason to outsource recruiting that I’ve heard of is that you can associate your own recruiting skills with the recruiters. It would be a good way to assess your powers and flaws in the process.

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