What is the global market size of Recruitment Process Outsourcing Market?

Global Recruitment Process Outsourcing Market size was valued at USD 6098.9 million in 2021 and is poised to grow from USD 6502.65 million in 2022 to USD 11578.13 million by 2030, growing at a CAGR of 6.62% in the forecast period (2023-2030).

Who are the key vendors in the Global Recruitment Process Outsourcing Market?

There are players in the recruitment process outsourcing market at the international, regional, and national levels. These businesses offer a wide range of services that are catered to different industries. Existing participants in the RPO market are being forced by the entry of new vendors to distinguish their solutions based on industries, skill sets, client organization size, high volume or specialty hiring, and geographic regions. The RPO business model is anticipated to change in the near future as a result of additional shared service center consolidation, an increase in blended services, and a rise in customized solutions to satisfy client requirements. It is anticipated that cutting-edge tools and technology will have a significant impact on how competitively the market's players are positioned. 'Accenture plc', 'IBM Corporation', 'ManpowerGroup Solutions', 'Hudson Global, Inc.', 'Korn Ferry', 'Allegis Global Solutions', 'Randstad Sourceright', 'Alexander Mann Solutions', 'Hays plc', 'Pontoon Solutions', 'Seven Step RPO', 'PeopleScout', 'Adecco Group', 'Cielo Talent', 'Pinstripe, Inc.', 'WilsonHCG', 'Yoh, A Day & Zimmermann Company', 'Futurestep, a Korn Ferry Company', 'Allegis Group', 'TalentRISE for Executive Search.'.

What is the key driver of Global Recruitment Process Outsourcing Market?

Services for outsourcing the recruitment process have become an important tool for reducing the rising attrition rate in a number of industrial sectors. More organizations have started to choose RPO services more frequently to concentrate on their core skills and cost reduction. Over the past few years, this tendency has significantly boosted the global RPO market. Additionally, there is a greater need for these services due to the rising number of recent graduates and postgraduates.

What is the key market trend for Global Recruitment Process Outsourcing Market?

Employers are now looking at multi-Country RPOs who offer services in several geographic regions due to the rising demand for RPO services from multinational corporations. Due to the intense competition in the hiring market, it is getting harder for businesses to find top personnel, particularly for high-skilled positions. As a result, businesses are starting to see the advantages of investing in RPO service providers. Global businesses in these areas are looking for multi-country RPOs that can offer global governance and processes. RPO service providers are investigating the potential to increase process efficiencies by offshore and dispersing work through support offices established throughout the world in light of these changes. A more significant worldwide customer base can be served by existing RPOs and new entrants thanks to the Multi-Country RPO concept.

Which region accounted for the largest share in Global Recruitment Process Outsourcing Market?

North America has accounted for a significant percentage of the global recruitment process outsourcing market. The area holds the distinction of being one of the first to use RPO services. The residence of numerous significant market participants fuels the region's development. The rising demand for RPO services in nations like France, Germany, the United Kingdom, and the Netherlands is the main factor fueling the expansion of the Europe region.

Global recruitment process outsourcing rpo market

Recruitment Process Outsourcing Market Size, Share, Growth Analysis, By Type(On-demand, Function-Based, and Enterprise-Based), By Enterprise Size(Small & medium enterprises (SMEs), and Large Enterprises), By End Use(BFSI, Healthcare, Manufacturing, IT & Telecom), By Region - Industry Forecast 2024-2031

Report ID: SQMIG45B2105 | Region: Global | Published Date: October, 2024
Pages: 165 | Tables: 63 | Figures: 75

Recruitment Process Outsourcing Market Competitive Landscape

The competitive landscape of the global recruitment process outsourcing market is characterized by a diverse array of providers offering tailored solutions to meet varying client needs. Some of the significant international players include ManpowerGroup, Randstad, Allegis Global Solutions, and Korn Ferry, contribute significantly to the global recruitment process outsourcing market trends and incorporate evolving technology and analytics into their recruitment processes. These companies compete on the quality of service, level of innovation, and scalability of operations and this promotes further growth of the industries as the companies tend to look for strategic alliances from other enterprises, which are focused on their recruiting processes.

Top Players in the Recruitment Process Outsourcing Market

ADP, Inc. (US)
Alexander Mann Solutions (UK)
Cielo, Inc. (US)
Hudson Global Inc. (US)
IBM Corporation (US)
ManpowerGroup (US)
Korn Ferry (US)
PeopleScout - A TrueBlue Company (US)
Pontoon Solutions (US)
Randstad N.V. (Netherlands)
Sevenstep (US)
WilsonHCG (US)

Recruitment Process Outsourcing Market Recent Development

In August 2023, Allegis Global Solutions has revealed the availability of its all-encompassing AI-powered applicant tracking and sourcing solution for recruiting along with the introduction of the newest selection processes. The technology in question is designed to simplify the recruitment processes enabling organizations to hire suitable personnel within the required period, hence minimizing the time taken to fill a vacancy.
In September 2023, Randstad unveiled a new flexible staffing solution focused on the healthcare market. The objective of this initiative is to meet the rising need for healthcare workers by offering recruitment services that can shift with the changing needs of the workforce and therefore ensure that healthcare organizations can always have the right number of staff.
In October 2023, ManpowerGroup announced a strategic alliance with a prominent technical company to enhance its capacity for recruitment analytics. The initiative is aimed at the application of data analytics in understanding the labor market’s dynamics and optimizing the client’s talent acquisition activities thus empowering their hiring decisions with up-to-the-minute information.

Recruitment Process Outsourcing Market Report Snapshots

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Global Recruitment Process Outsourcing Market size was valued at USD 7.33 billion in 2022 and is poised to grow from USD 8.51 billion in 2023 to USD 28.09 billion by 2031, growing at a CAGR of 16.1% in the forecast period (2024-2031).

The global recruitment process outsourcing market is fueled by the increasing demand for specialized talent in various sectors. As skills shortages become evident and technological progression becomes rampant. These companies resolve to work with recruitment process outsourcing providers to source, screen, and hire niche candidates in order to maintain market relevance.

Emphasis on Technology-Driven Solutions: The expansion of the global recruitment process outsourcing market has technology at the wheel and such technology inclusive of AI and automation. Such developments in Technology optimization of recruitment processes, sourcing for candidates, and the general management and handling of resources makes it easier for organizations to meet changes in demand for labor in their regions and stay competitive in the labor market.

North America is dominating the global recruitment process outsourcing market due to its robust economy, advanced technological infrastructure, and a highly competitive business environment. Due to the lack of available talent and the need for faster recruitment processes in the course of digital transformations, the companies in this region are increasingly adopting recruitment process outsourcing solutions. Furthermore, the region’s large labor pool attracts international recruitment vendors seeking to enhance the global recruitment process outsourcing market size by developing solutions catering to different sectors. There is also a growing emphasis on convenience, compliance and employer branding which makes recruitment process outsourcing even more attractive, reinforcing North America’s position in the recruitment business no matter which geographic region is under consideration.

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Recruitment Process Outsourcing Market Competitive Landscape

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What is the global market size of Recruitment Process Outsourcing Market?

Who are the key vendors in the Recruitment Process Outsourcing Market?

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Which region accounted for the largest share in Recruitment Process Outsourcing Market?

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