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Recruitment Process Outsourcing Market Size: Industry Analysis, Segments, Drivers And Trends To 2033
Recruitment Process Outsourcing Market
As per the report, the recruitment process outsourcing market size has grown rapidly in recent years. It will grow from $6.05 billion in 2023 to $7.00 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The recruitment process outsourcing market size is expected to see rapid growth in the next few years. It will grow to $12.71 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%.
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The Surge Of Remote Work Fuels Growth In The Recruitment Process Outsourcing Market
The rise in remote work culture is expected to propel the growth of the recruitment process outsourcing market going forward. Remote work culture refers to the shift in organizational norms and practices that enable employees to perform their duties outside a traditional office setting, often from their homes or other remote locations. The rise in remote work culture is due to the desire for increased work-life balance, cost savings for both employers and employees and advancements in technology that enable seamless remote collaboration. Remote work eliminates geographical barriers, allowing organizations to access a larger and more diverse talent pool. Recruitment process outsourcing providers can leverage their expertise and resources to source candidates from various locations, increasing the likelihood of finding the best-fit talent for remote positions. For instance, in June 2023, according to reports published by Forbes Media LLC, a US-based media company, around 12.7% of full-time employees worked from home in 2023, while 28.2% will use a hybrid model in the US. Further, it is expected that 32.6 million people will be working remotely by 2025. Therefore, the rise in remote work culture is driving the growth of the recruitment process outsourcing market.
AI And Automation Talent Transforming Recruitment Process Outsourcing
Major companies operating in the recruitment process outsourcing market increasingly focus on developing artificial intelligence (AI)-based solutions such as Kelly Arc to gain a competitive edge. Kelly Arc is an artificial intelligence-powered platform that streamlines the recruitment process by automating resume screening, identifying qualified candidates, and enhancing decision-making through data-driven insights, ultimately saving time and improving efficiency in talent acquisition. For instance, in October 2023, Kelly Services Inc., a US-based company, launched Kelly Arc, a recruitment platform focusing on AI-powered automation. This platform addresses the growing demand for AI and automation talent by connecting employers with specialized professionals such as robotics process automation (RPA), developers, and project managers.
The recruitment process outsourcing market covered in this report is segmented -
1) By Type: On-Demand, Function-Based, Enterprise-Based
2) By Service : On-Site, Off-Site, , , , , , , , By Enterprise Size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By End-Use: Banking, Financial Services And Insurance, Healthcare, Manufacturing, Information Technology (IT) And Telecommunication, Education, Other End-users
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Major companies operating in the recruitment process outsourcing market are International Business Machines Corporation, Deloitte Touche Tohmatsu Ltd., Randstad N.V., The Adecco Group AG, ManpowerGroup Inc., Infosys Ltd., Allegis Group Inc., Aon Hewitt LLC, Hays plc, AMN Healthcare Services Inc., Kelly Services Inc., Pontoon Solutions Inc., Korn Ferry International, Advantage Resourcing America Inc., Alexander Mann Solutions Ltd., PeopleScout Inc, Kenexa Corporation, Sevenstep RPO LLC, Hudson Global Inc., Orion Talent LLC, Atterro Human Capital Group, Accolo Inc.
Contents of the report:
1. Executive Summary
2. Recruitment Process Outsourcing Market Report Structure
3. Recruitment Process Outsourcing Market Trends And Strategies
4. Recruitment Process Outsourcing Market - Macro Economic Scenario
5. Recruitment Process Outsourcing Market Size And Growth
…..
27. Recruitment Process Outsourcing Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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