Recruitment Process Outsourcing (RPO) Market Will Exhibit an Impressive Expansion by 2024-2031
Recruitment Process Outsourcing (RPO) Market
The global recruitment process outsourcing (RPO) market is anticipated to grow at a considerable CAGR of 17.3% during the forecast period. The growing need to hire a skilled workforce and retention of talent across various industries is anticipated to propel the demand for the recruitment process outsourcing market. For instance, according to the Bureau of Labor statistics, US, total nonfarm payroll employment increased by 253,000 in April 2023, compared with the average monthly gain of 290,000 over the prior 6 months. In April, employment continued to trend up in professional and business services, health care, leisure and hospitality, and social assistance.
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Also, the market growth is driven by the shortage of workforce caused by the COVID-19 lockdown across regions. The government and other private players have been actively looking to fill the gap between available job vacancies and employees to overcome the requirement for a skilled workforce. For instance, in May 2020, the Adecco Group, ManpowerGroup, and Gi Group, the Indian operations of four leading global HR services companies allied to “Help India Get Back to Work Safely”. The four organizations combine their knowledge and strengths in the framework of a non-commercial alliance to jointly tackle the key challenges facing the labor market following the COVID-19 pandemic. The objective of this collaboration is to minimize the negative impact of COVID-19 on the economy. Initially, the alliance will focus on companies in 7 key sectors in India – IT/ITeS, Manufacturing, Infrastructure, PHL, Consulting & Business Services, Retail, and E-Commerce and will consult with various stakeholders in the country in the coming weeks.
Global Recruitment Process Outsourcing (RPO) Market Report Segment
ByType
- On-demand RPO
- Function-based RPO
- Enterprise RPO
By Service
- On-site
- Off-site
By End-use Industries
- BFSI
- Healthcare
- Energy and Power
- Manufacturing
- IT & Telecom
- Education
- Others
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Recruitment Process Outsourcing (RPO) Market Report Segment by Region
North America
- United States
- Canada
Europe
- Germany
- United Kingdom
- France
- Spain
- Italy
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Rest of Asia-Pacific
Rest of the World
- Middle East & Africa
- Latin America
Company Profiles
- Acara Solutions, Inc.Acara Solutions
- Alexander Mann Solutions
- Allegis Global Solutions Allegis Group
- Automatic Data Processing, Inc. ADP, Inc.
- Cielo, Inc.
- Hudson Global Resources (Aust) Pty Limited
- IBM Corp.
- Kelly Services, Inc.
- Motion Recruitment Partners LLC
- PeopleScout, Inc.
- Pinstripe, Inc.
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