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.