TMCnet News
Recruitment Process Outsourcing Market to Grow USD 21690 Million by 2027 at a CAGR of 17% | Valuates ReportsBANGALORE, India, March 29, 2023 /PRNewswire/ -- The Global Recruitment Process Outsourcing Market is Segmented by Type (Permanent Workforce, Flexible Workforce), by Application (Manufacturing, BFSI, Telecom, Healthcare, Energy): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is published in Valuates Reports under the Business Operations Category.  The global Recruitment Process Outsourcing (RPO) market size is projected to reach USD 21690 million by 2027, from USD 7228.2 million in 2020, at a CAGR of 17.0% during 2021-2027. Major factors driving the growth of Recruitment Process Outsourcing (RPO) Market The two primary factors driving market growth are the need for an effective recruiting process and the reduction of overhead costs.The Recruitment Process Outsourcing (RPO) service providers carry out a number of duties, from applicant sourcing to selection and recruitment quality maintenance. To improve their skills, service providers are using cutting-edge technology like artificial intelligence (AI) and machine learning (ML) for self-scheduling interviews and automated CV screening. Chatbots and other evaluation tools are being used by service providers as additional channels for greater candidate interaction. AI is anticipated to revolutionize the employment market. To enhance strategic workforce planning, it automates a number of processes like candidate sourcing, applicant rediscovery, employee reference checking, and diversity recruiting. Download Free Sample Report: https://reports.valuates.com/request/sample/QYRE-Auto-10L2572/Global_Recruitment_Process_Outsourcing TRENDS INFLUENCING THE RECRUITMENT PROCESS OUTSOURCING MARKET RPO providers are unrivaled in their ability to find and deliver high-quality talent to businesses. The expertise of their recruiters is a major reason for this. The best providers hire recruitment experts and invest heavily in their education. Hiring managers must also have a positive experience. RPO providers accomplish this through transparency, regular reporting, and unrestricted access to recruiters. This in turn is expected to drive the growth of the Recruitment Process Outsourcing market. Another significant advantage of an RPO partnership is that it reduces the time it takes to find great talent. The longer a position is open, the more money or opportunity costs your company loses. RPO providers' ability to reduce time-to-fill is due to a combination of industry expertise, technology, and recruiting acumen. A common error in calculating the cost of talent acquisition is to only consider costs associated with department budgets. This overlooks the hard and soft costs that are hidden in cost centers and line items and must be considered when calculating total cost savings. RPO providers will be able to significantly reduce costs by eliminating waste and improving overall organizational efficiency. This in turn is expected to drive the growth of the Recruitment Process Outsourcing market. A common error in calculating the cost of talent acquisition is to only consider costs associated with department budgets. This overlooks the hard and soft costs that are hidden in cost centers and line items and must be considered when calculating total cost savings. Your RPO provider will be able to significantly reduce costs by eliminating waste and improving overall organizational efficiency. This in turn is expected to drive the growth of the Recruitment Process Outsourcing market. A successful talent acquisition function must be able to respond quickly to business demands. You will be able to scale your recruitment team up or down with an RPO partner without the hassle of reducing headcount or hiring and training new employees. In their pursuit of this innovation, many talent acquisition teams have lost their way, relying on automated technologies rather than improving their core recruiting skills. As a result, they've fallen behind on their top priority: attracting top talent. RPO providers will introduce cutting-edge technologies and techniques into your organization, eliminating the need for you to sacrifice effectiveness in order to advance capabilities. Small and medium-sized businesses are turning to RPO services to transition from traditional HR activities to strategic decision-making processes. RPO is becoming more popular as companies place a greater emphasis on talent acquisition and workforce planning to meet the issues of maintaining human resources. Large companies, on the other hand, want a single solution to handle all of their HR needs. These factors are expected to drive the growth of the Recruitment Process Outsourcing Market. View Full Report: https://reports.valuates.com/market-reports/QYRE-Auto-10L272/global-recruitment-process-outsourcing-rpo RECRUITMENT PROCESS OUTSOURCING MARKET SHARE ANALYSIS: North America is expected to account for 30% of the global market. Get Regional Report: https://reports.valuates.com/request/regional/QYRE-Auto-10L2572/Global_Recruitment_Process_Outsourcing Key Companies:
Get Customized Report: https://reports.valuates.com/request/customisation/QYRE-Auto-10L2572/Global_Recruitment_Process_Outsourcing Buy Now for Single User + Covid-19 Impact : https://reports.valuates.com/api/directpaytoken?rcode=QYRE-Auto-10L2572&lic=single-user SUBSCRIPTION We have introduced a tailor-made subscription for our customers. Please leave a note in the Comment Section to know about our subscription plans. SIMILAR REPORTS: - Employer of Record market size is projected to reach USD 6794.5 million by 2028, from USD 4235.8 million in 2021, at a CAGR of 6.9% during 2022-2028. - Medical Recruitment market was valued at USD 64570 million in 2022 and is anticipated to reach USD 92110 million by 2029, witnessing a CAGR of 6.1% during the forecast period 2023-2029. - Digital Process Automation market size is projected to reach USD 11770 Million by 2027, from USD 6451.8 Million in 2020, at a CAGR of 8.5% during 2021-2027. - Due to the COVID-19 pandemic, the global Online Recruitment market size is estimated to be worth USD 29660 million in 2022 and is forecast to a readjusted size of USD 46330 million by 2029 with a CAGR of 6.5% during the forecast period 2023-2029. - Online Recruitment Platform market size is projected to reach USD 45990 million by 2028, from USD 29660 million in 2021, at a CAGR of 6.4% during 2022-2028. - International Recruitment Services Market - Campus Recruitment Software Market - Web-based Recruitment Market - Contingent Workforce Management Market - Human Resource (HR) Professional Services Market - Human Resource (HR) Technology Market - Corporate Recruitment Process Outsourcing Market - Social Recruitment Process Outsourcing Market - Technical Assessment and Recruitment Software Market - Permanent Online Recruitment Market - Third-Party Recruitment Market - Digital Transformation market is projected to reach USD 966420 Million by 2028 from an estimated USD 464190 Million in 2022, at a CAGR of 13.0% during 2023 and 2028. - IT Services market is projected to reach USD 1381540 million by 2028 from an estimated USD 1039340 million in 2021, at a CAGR of 4.1% during 2023 and 2028. - Managed Services market size is projected to reach USD 271640 Million by 2028, from USD 142300 Million in 2021, at a CAGR of 9.2% during 2022-2028. - IT Managed Services market size is projected to reach USD 399170 million by 2028, from USD 224010 million in 2021, at a Compound Annual Growth Rate (CAGR) of 8.5% during 2022-2028. - Business Process Outsourcing (BPO) market size is projected to reach USD 241370 Million by 2027, from USD 180440 Million in 2020, at a CAGR of 4.2% during 2021-2027. ABOUT US: Valuates offers in-depth market insights into various industries. Our extensive report repository is constantly updated to meet your changing industry analysis needs. Our team of market analysts can help you select the best report covering your industry. We understand your niche region-specific requirements and that's why we offer customization of reports. With our customization in place, you can request for any particular information from a report that meets your market analysis needs. To achieve a consistent view of the market, data is gathered from various primary and secondary sources, at each step, data triangulation methodologies are applied to reduce deviance and find a consistent view of the market. Each sample we share contains a detailed research methodology employed to generate the report. Please also reach our sales team to get the complete list of our data sources. CONTACT US: Valuates Reports Logo: https://mma.prnewswire.com/media/1082232/Valuates_Reports_Logo.jpg
|
View original content: