Recruitment Process Outsourcing Global Market Report 2024

Description

Recruitment process outsourcing (RPO) is a strategic approach in which an organization delegates some or all of its recruitment activities to an external service provider. The primary aim is to optimize the efficiency and effectiveness of the recruitment process by leveraging the specialized expertise and resources of a third-party provider. This allows organizations to concentrate on their core business functions while benefiting from external support to achieve more streamlined and successful recruitment outcomes.

The main categories of RPO include on-demand, function-based, and enterprise-based solutions. On-demand services are accessible whenever required, rather than being scheduled at specific intervals. These services can be provided both on-site and off-site, catering to organizations of various sizes, including small and medium enterprises (SMEs) and large enterprises. They are utilized across diverse industries such as banking, financial services and insurance, healthcare, manufacturing, IT and telecom, education, and others.

The recruitment process outsourcing market research report is one of a series of new reports from The Business Research Company that provides recruitment process outsourcing market statistics, including recruitment process outsourcing industry global market size, regional shares, competitors with a recruitment process outsourcing market share, detailed recruitment process outsourcing market segments, market trends and opportunities, and any further data you may need to thrive in the recruitment process outsourcing industry. This recruitment process outsourcing market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The recruitment process outsourcing market size has grown rapidly in recent years. It will grow from $6.05 billion in 2023 to $7.00 billion in 2024 at a compound annual growth rate (CAGR) of 15.7%. The growth observed during the historic period can be attributed to several factors. These include a heightened focus on core competencies, increased globalization facilitating access to talent pools worldwide, the proliferation of remote work opportunities, and the necessity of addressing compliance and regulatory challenges.

The recruitment process outsourcing market size is expected to see rapid growth in the next few years. It will grow to $12.71 billion in 2028 at a compound annual growth rate (CAGR) of 16.1%. The anticipated growth in the forecast period can be attributed to several factors. These include ongoing talent shortages and skill gaps in the workforce, the increasing demand for flexibility and scalability in recruitment processes, a heightened focus on enhancing the candidate experience, the adoption of data-driven decision-making in recruitment strategies, and continual innovations in recruitment technologies. Major trends expected in the forecast period encompass the integration of artificial intelligence (AI) and automation into recruitment processes, the emergence of virtual recruitment platforms facilitating remote hiring, the enhancement of employee value propositions (EVPs) to attract top talent, the utilization of human-centric AI for personalized candidate interactions, and the implementation of talent pooling and pipelining strategies to ensure a steady supply of qualified candidates.

The surge in remote work culture is anticipated to drive the growth of the recruitment process outsourcing (RPO) market in the foreseeable future. This cultural shift entails organizations embracing flexible work arrangements that allow employees to fulfill their job responsibilities outside of traditional office settings, often working remotely from home or other locations. The increasing adoption of remote work culture is fueled by the desire for improved work-life balance, cost-saving opportunities for both employers and employees, and advancements in technology facilitating seamless collaboration from remote locations. By transcending geographical barriers, remote work enables organizations to tap into a broader and more diverse talent pool. RPO providers can capitalize on their expertise and resources to source candidates from various locations, thereby enhancing the chances of securing the most suitable talent for remote positions. For example, reports from Forbes Media LLC indicate that in June 2023, approximately 12.7% of full-time employees in the US worked from home, with 28.2% adopting a hybrid model. It is projected that the number of remote workers will reach 32.6 million by 2025, underscoring the significant impact of the rise in remote work culture on the growth of the RPO market.

Leading companies in the RPO market are increasingly prioritizing the development of artificial intelligence (AI)-based solutions to gain a competitive advantage. One such solution is Kelly Arc, an AI-powered platform developed by Kelly Services Inc., a US-based company. Kelly Arc streamlines the recruitment process by automating resume screening, identifying qualified candidates, and enhancing decision-making through data-driven insights, thereby optimizing time management and efficiency in talent acquisition. The launch of Kelly Arc in October 2023 underscores the growing demand for AI and automation in talent acquisition, connecting employers with specialized professionals such as robotics process automation (RPA) developers and project managers.

In a strategic move in October 2022, Teleperformance, a France-based digital business services company, acquired PSG Global Solutions for $300 million. This acquisition is aimed at reinforcing Teleperformance's specialized services portfolio, strengthening its presence in the US healthcare vertical, and enhancing its digital recruitment capabilities. Through this strategic expansion, Teleperformance is diversifying its offerings and augmenting its value proposition to clients in the recruitment process outsourcing market. PSG Global Solutions, the acquired company, is a US-based digital recruitment process outsourcing firm.

Major companies operating in the recruitment process outsourcing market are Accenture Plc, International Business Machines Corporation, Deloitte Touche Tohmatsu Ltd., Randstad N.V., The Adecco Group AG, ManpowerGroup Inc., Infosys Ltd., Allegis Group Inc., Aon Hewitt LLC, Hays plc, AMN Healthcare Services Inc., Kelly Services Inc., Pontoon Solutions Inc., Korn Ferry International, Advantage Resourcing America Inc., Alexander Mann Solutions Ltd., PeopleScout Inc, Kenexa Corporation, Sevenstep RPO LLC, Hudson Global Inc., Orion Talent LLC, Atterro Human Capital Group, Accolo Inc.

North America was the largest region in the recruitment process outsourcing market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the recruitment process outsourcing market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the recruitment process outsourcing market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The recruitment process outsourcing market includes revenues earned by entities by providing services such as talent acquisition and human resource services, candidate identification, resume screening and shortlisting, candidate assessment, talent pool management, and customized recruitment strategies. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Including: 1) By Type: On-Demand; Function-Based; Enterprise-Based
2) By Service: On-Site; Off-Site
3) By Enterprise Size: Small And Medium Enterprises (SMEs); Large Enterprises
4) By End-Use: Banking, Financial Services And Insurance; Healthcare; Manufacturing; Information Technology (IT) And Telecommunication; Education
Covering: Accenture Plc; International Business Machines Corporation; Deloitte Touche Tohmatsu Ltd; Randstad N.V; The Adecco Group AG

Product Code: r17428

1. Executive Summary

2. Recruitment Process Outsourcing Market Characteristics

3. Recruitment Process Outsourcing Market Trends And Strategies

4. Recruitment Process Outsourcing Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Recruitment Process Outsourcing Market Size and Growth

5.1. Global Recruitment Process Outsourcing Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Recruitment Process Outsourcing Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Recruitment Process Outsourcing Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Recruitment Process Outsourcing Market Segmentation

6.1. Global Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Demand
Function-Based
Enterprise-Based
6.2. Global Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
On-Site
Off-Site
6.3. Global Recruitment Process Outsourcing Market, Segmentation By Enterprise Size, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Small And Medium Enterprises (SMEs)
Large Enterprises
6.4. Global Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Banking, Financial Services And Insurance
Healthcare
Manufacturing
Information Technology (IT) And Telecommunication
Education
Other End-users

7. Recruitment Process Outsourcing Market Regional And Country Analysis

7.1. Global Recruitment Process Outsourcing Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Recruitment Process Outsourcing Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Recruitment Process Outsourcing Market

8.1. Asia-Pacific Recruitment Process Outsourcing Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Recruitment Process Outsourcing Market

9.1. China Recruitment Process Outsourcing Market Overview
9.2. China Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Recruitment Process Outsourcing Market

10.1. India Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Recruitment Process Outsourcing Market

11.1. Japan Recruitment Process Outsourcing Market Overview
11.2. Japan Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Recruitment Process Outsourcing Market

12.1. Australia Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Recruitment Process Outsourcing Market

13.1. Indonesia Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Recruitment Process Outsourcing Market

14.1. South Korea Recruitment Process Outsourcing Market Overview
14.2. South Korea Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Recruitment Process Outsourcing Market

15.1. Western Europe Recruitment Process Outsourcing Market Overview
15.2. Western Europe Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Recruitment Process Outsourcing Market

16.1. UK Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Recruitment Process Outsourcing Market

17.1. Germany Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Recruitment Process Outsourcing Market

18.1. France Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Recruitment Process Outsourcing Market

19.1. Italy Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Recruitment Process Outsourcing Market

20.1. Spain Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Recruitment Process Outsourcing Market

21.1. Eastern Europe Recruitment Process Outsourcing Market Overview
21.2. Eastern Europe Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Recruitment Process Outsourcing Market

22.1. Russia Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Recruitment Process Outsourcing Market

23.1. North America Recruitment Process Outsourcing Market Overview
23.2. North America Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Recruitment Process Outsourcing Market

24.1. USA Recruitment Process Outsourcing Market Overview
24.2. USA Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Recruitment Process Outsourcing Market

25.1. Canada Recruitment Process Outsourcing Market Overview
25.2. Canada Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Recruitment Process Outsourcing Market

26.1. South America Recruitment Process Outsourcing Market Overview
26.2. South America Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Recruitment Process Outsourcing Market

27.1. Brazil Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Recruitment Process Outsourcing Market

28.1. Middle East Recruitment Process Outsourcing Market Overview
28.2. Middle East Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Recruitment Process Outsourcing Market

29.1. Africa Recruitment Process Outsourcing Market Overview
29.2. Africa Recruitment Process Outsourcing Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Recruitment Process Outsourcing Market, Segmentation By Service, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Recruitment Process Outsourcing Market, Segmentation By End-Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Recruitment Process Outsourcing Market Competitive Landscape And Company Profiles

30.1. Recruitment Process Outsourcing Market Competitive Landscape
30.2. Recruitment Process Outsourcing Market Company Profiles
- 30.2.1. Accenture Plc
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. International Business Machines Corporation
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Deloitte Touche Tohmatsu Ltd.
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. Randstad N.V.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. The Adecco Group AG
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Recruitment Process Outsourcing Market Other Major And Innovative Companies

31.1. ManpowerGroup Inc.
31.2. Infosys Ltd.
31.3. Allegis Group Inc.
31.4. Aon Hewitt LLC
31.5. Hays plc
31.6. AMN Healthcare Services Inc.
31.7. Kelly Services Inc.
31.8. Pontoon Solutions Inc.
31.9. Korn Ferry International
31.10. Advantage Resourcing America Inc.
31.11. Alexander Mann Solutions Ltd.
31.12. PeopleScout Inc
31.13. Kenexa Corporation
31.14. Sevenstep RPO LLC
31.15. Hudson Global Inc.

32. Global Recruitment Process Outsourcing Market Competitive Benchmarking

33. Global Recruitment Process Outsourcing Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Recruitment Process Outsourcing Market

35. Recruitment Process Outsourcing Market Future Outlook and Potential Analysis

35.1 Recruitment Process Outsourcing Market In 2028 - Countries Offering Most New Opportunities
35.2 Recruitment Process Outsourcing Market In 2028 - Segments Offering Most New Opportunities
35.3 Recruitment Process Outsourcing Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer