Global Recruitment Process Outsourcing (RPO) Market: Overview
The growth of the global market for recruitment process outsourcing (RPO) is expected to remain strong in the forthcoming years. RPO services are rapidly gaining popularity as they enable the client organization to focus on their core business activities and facilitate a substantial reduction in overheads. Their providers offer majorly two services, namely off-site and on-site. The growing preference of off-site services owing to rapid globalization is fuelling the overall market. Based on type of outsourcing, these services can be classified into partially outsourced and fully outsourced.
This market intelligence report meticulously studies the global RPO market and its affiliated industries. It provides a detailed analysis of the market dynamics and their impact on the growth of the market. It also sheds light on the key trends of the market. It includes tools such as Porter’s five force analysis and market attractiveness analysis that are helpful in deriving the vendor landscape. For a better understanding, the report offers both qualitative and quantitative insights into regional segmentation of the market. It supports the statistics pertaining to both global and regional levels with graphical representation. It also profiles key players in the market along with their latest development, business strategies, and revenue generation.
Global Recruitment Process Outsourcing (RPO) Market: Drivers and Restraints
Recruitment process outsourcing services have emerged as a significant aid in curbing the rising attrition rate across several industrial verticals. Several employers have increasingly started opting for RPO services to focus on their core competencies and cost reduction. This trend has given a significant push to the global RPO market over the past few years. Moreover, the increasing number of fresh graduates and post graduates have boosted the need for such services.
Furthermore, the increasing adoption of cloud and web-based services and software solutions has helped in streamlining RPO, in turn, benefitting the growth of the market. This trend also presents tremendous opportunities for new players keen on entering the recruitment process outsourcing market. On the other hand, selectivity becomes a big challenge for service providers. It is often hard for them to comprehend the profile desired by the employer and be able to customize the process as per their standards.
Global Recruitment Process Outsourcing (RPO) Market: Geographical Segmentation
On the basis of geography, the report analyzes North America, Asia Pacific, Europe, and Rest of the World. North America is expected to represent a substantial share in the overall market throughout the forecast period. The region enjoys the status of being among the first adopters of RPO services. The domicile of a large number of key players in the market stimulates the growth of the region. The growth of the Europe region is primarily driven by the increasing demand for RPO services in countries such as France, Germany, the U.K., and the Netherlands.
Asia Pacific is emerging as a potential market for RPO owing to the rising penetration of small and medium-sized enterprises and growing focus of large multinational organizations towards expanding their presence in this region. The improving economic conditions in countries such as India and China are also propelling the growth of the region.
Global Recruitment Process Outsourcing (RPO) Market: Companies Mentioned in the Report
Some of the key players in the global recruitment process outsourcing market are Seven Step RPO, Argus Recruitment Solutions, Zyoin, Randstad Holding Company, Pinstripe Inc., Pontoon Solutions, Futurestep, Accolo Inc., Alexander Mann Solutions, TalentFusion, The Rightthing, Kelly Outsourcing and Consulting Group, and Manpower Group Solutions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.