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Recruitment Process Outsourcing Market Growth By Application, Technology Service, Industry Vertical and Top Players like Seven Step Recruitment Process Outsourcing, Kites Consulting, Randstad Sourceright, ManpowerGroup Solutions

May 21, 2019

Recruitment Process Outsourcing (RPO) is a type of business process outsourcing in which a company employer outsources some part or all of the recruitment processes to a third party service provider. An RPO service provider not only offers staffing services to an employer but it takes the responsibility of designing and managing the entire recruitment process as well as the responsibility of outcomes. An RPO service provider facilitates the necessary expertise, skillsets, technologies and hiring process methodologies to employers in various modes including on-site, off-site, or virtual delivery model. The RPO services include candidate, profile research, training of the hiring manager, compliance tracking, reporting, process mapping, technology consulting, third-party vendor management and others. Some of the significant benefits of RPO which are driving the growth of this market include requirement analysis, customized solutions based on specific hiring demand, cost-benefit, and time savings. 

The global recruitment process outsourcing market accounted to US$ 4.16 Bn in 2018 and is expected to grow at a CAGR of 29.1% during the forecast period 2019 – 2027, to account to US$ 40.67 Bn by 2027. 

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The Recruitment Process Outsourcing Market report aims to provide a 360-degree view of the market in terms of cutting-edge technology, key developments, drivers, restraints and future trends with impact analysis of these trends on the market for short-term, mid-term and long-term during the forecast period. Further, the report also covers key players profiling with detailed SWOT analysis, financial facts and key developments of products/service from the past three years.

Top Key Players profiled in this report includes, Seven Step Recruitment Process Outsourcing, Kites Consulting, Randstad Sourceright, ManpowerGroup Solutions, Alexander Mann, Adam Recruitment, Proven SA, Talent Hunters, TASC Outsourcing, Ajeets Management & Manpower Consultancy

Time and Cost Savings Driving the Adoption of Recruitment Process Outsourcing:
Recruitment Process Outsourcing provider acts as an extension of the HR function in a company and helps in reducing the time and cost required for hiring new talent. Recruitment Process Outsourcing service provider offers necessary expertise, advanced technology and techniques to provide a complete and holistic hiring solution. They offer services on-site, off-site, combinations of on and off-site across countries which gives a lot of flexibility and options to the employers.
North America accounted for the leading geographic market and it is anticipated to be the highest revenue contributor throughout the forecast period. Significantly large number of recruitment process outsourcing companies functioning in the US, Canada and Mexico. Also, the huge skilled workforce and new job seekers in the North American countries are cementing the growth path of recruitment process outsourcing companies in North America.

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Unlike traditional recruitment firms, RPOs offer customized solutions to their clients after understanding company specific hiring needs, company culture and brand. In addition to this, RPO also looks at scalability, turnover rates, technology, and time required in hiring good talent which makes RPO a much better choice for today’s employers. All these benefits offered by RPO service providers over traditional hiring agencies/firms are driving the growth of the RPO market. Some of the market initiatives in the recent years include:
In 2018, Sevenstep announced expansion of delivery in APAC, adding business operations in Australia. This expansion is expected to add value to the current and future customers
In 2018, Randstad Sourceright expanded its RPO operations to meet the increasing demand for advanced talent acquisition models and advanced technologies. The company announced expansion plan in Asia through investments
In 2017, ManpowerGroup Solutions launched New Insight and Data-Led Total Workforce Index&trade to help companies in identifying best countries to find skilled talent. Through the data and the company’s expertise organizations would be able to meet their goals

Reasons to Buy the Report:
• Learn about the driving factors, affecting the market growth.
• Imbibe the advancements and progress in the market during the forecast period.
• Understand where the market opportunities lies.
• Compare and evaluate various options affecting the market.
• Pick up on the leading market players within the market.
• Envision the restrictions and restrains that are likely to hamper the market.

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