- The key vendors in the Global Recruitment Process Outsourcing Market 2014-2018 are ManpowerGroup, IBM Corp., Randstad Sourceright and The RightThing.
London, 24 September 2014: TechNavio, an independent tech-focused global research firm, announced today the publication of its market research report on the Global Recruitment Process Outsourcing Market 2014-2018. Emergence of offshore location services in RPO is the rising trend in the market. The offshore location service has become the preferred option among RPO providers because of the advantage of the time difference and labor arbitrage. The Global RPO market is expected to grow at a double-digit CAGR of 18.89 percent during the forecast period of 2013-2018.
RPO, a segment of HRO and a form of BPO, consists of subcontracting the recruitment processes of an organization to a third-party vendor that has expertise in the required domains. An effective RPO arrangement includes a standardized recruitment process, platforms for workforce planning, applicant tracking, and workflow. Some of the advantages that the relationship with vendors offers are staffing search, mobile recruiting, employers branding, background validation, and employee profiling. It helps client firms to increase their operational efficiency, concentrate on their core competencies, reduce time-to-market, obtain access to fresh talent and experience along with latest technologies, and build an organization with an economical cost structure in the long run.
“RPOs need to focus on standardized processes, extra training, quality control mechanisms, global management, and technology capabilities to support client’s global requirements and extended value chain,” says Faisal Ghaus, Vice President of TechNavio Research.
To define the market conditions in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in the order of importance.
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