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

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).

One of the main problems facing the labour market today is the shortage of correctly skilled people required to fill important corporate responsibilities. Without the help of a recruitment process outsourcing provider, finding the critical employees to meet business goals and objectives could turn into a nightmare.  The terms of an employment contract are sometimes easier to implement than those of a consultancy agreement, which are expected to impede the growth of the global recruitment process outsourcing market. This is true even though the written agreement between the parties should outline all of the conditions of the outsourcing, including duties for data protection and confidential information risk. 

To move away from the transactional aspects of HR management to that of strategic decision making, small and medium sized enterprises are embracing recruitment process outsourcing services. Recruitment process outsourcing is gaining more acceptance due to increased emphasis on workforce planning and recruitment to address HR challenges. However, larger companies tend to adopt the one-stop shop for all their human resources management needs. Major competitors in the business have previously provided such potent recruitment process outsourcing services. Specialized and varied service offerings are being developed by recruitment process outsourcing vendors in order to get a competitive edge in the market. Outsourcing the recruitment process allows businesses to avoid the high costs of using conventional recruiting strategies like job boards, advertising, and headhunters.

US Recruitment Process Outsourcing Market is poised to grow at a sustainable CAGR for the next forecast year.