Recruitment Process Outsourcing Market Growth, Trend, Segmentation, Revenue and Industry Expansion By Leading Players Are Sevenstep, Randstad Sourceright, TASC Outsourcing, ADAM Recruitment

Latest market study on "Recruitment Process Outsourcing Market to 2027 by Type (Technical Staff, Sales & Marketing, Office / Admin Support, & Others) and Industries (Manufacturing, Construction, Retail, IT, Hospitality, BFSI, Oil & Gas, Telecom, & Others) - Global Analysis and Forecast", the recruitment process outsourcing market is estimated to reach US$ 40.57 Bn by 2027 from US$ 4.16 Bn in 2018. The report includes key understanding on the driving factors of this growth and also highlights the prominent players in the market and their developments. 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.

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Global Recruitment Process Outsourcing Market Insight:

Advantages of RPO over traditional recruiting- The RPO shift is attributing to the growth of the market. In the recruitment marketplace, RPO offers a much wider range of services/benefits over traditional recruiting agencies. The scope of traditional recruitment firms is limited to sourcing and placing the candidate in the required role whereas an RPO service provider offers a much broader range of services from designing and managing the entire recruitment process to taking responsibility of outcomes. RPO provides multiple services including talent engagement, candidate management, strategic sourcing, compliance and risk management, hiring manager engagement, recruitment analytics support, employer brand consultation, vendor partnering, and supply chain management and many others.

With the increasing demand for RPO services by global companies, employers are now looking at multi-Country RPOs who offer services in various geographic regions. For employers, it is becoming difficult to hire top talent, especially in high skilled jobs due to fierce competition in the recruitment market. Due to this companies are recognizing the benefits of investing in RPO service providers. The adoption of RPO over traditional staffing agencies is increasing in all major geographical regions such as North America, Europe, and the Asia Pacific. Global companies in these regions are looking for multi-country RPOs who can provide global processes and governance structure. With these developments, RPO service providers are exploring the possibilities of increasing process efficiencies by offshoring and distributing work through support offices set up around the world. The Multi-Country RPO model offers exciting opportunities for existing RPOs and new entrants to serve a more significant global customer base.
The Key Players In The Global Recruitment Process Outsourcing Market Are: Sevenstep, Kites Consulting, Randstad Sourceright, ManpowerGroup Talent Solutions, Alexander Mann Solutions, ADAM Recruitment, Provensa, TASC Outsourcing

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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

The report segments the global Recruitment Process Outsourcing Market as follows:

By Type (Technical Staff, Sales & Marketing, Office / Admin Support, & Others)

By Industry (Manufacturing, Construction, Retail, IT, Hospitality, BFSI, Oil & Gas, Telecom, & Others)

Answers that the report acknowledges:
• Market size and growth rate during forecast period.
• Key factors driving the Recruitment Process Outsourcing Market
• Key market trends cracking up the growth of the Recruitment Process Outsourcing Market
• Challenges to market growth.
• Key vendors of Recruitment Process Outsourcing Market
• Detailed SWOT analysis.
• Opportunities and threats faces by the existing vendors in Global Recruitment Process Outsourcing Market
• Trending factors influencing the market in the geographical regions.
• Strategic initiatives focusing the leading vendors.
• PEST analysis of the market in the five major region

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This release was published on openPR.