Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

Human resource outsourcing market to hit $199.6 billion

Industry Sector

Business Services

Published

4 July 2012

Author

Matt Bodimeade

Type of News

Market

By 2017 the global human resource outsourcing (HRO) market is projected to hit $199.6 billion, with market growth being predominantly driven by the increasing need for alignment between business operations and HR, cost reduction, compliance management, changing policy framework, and access to key technologies.

Human resource outsourcing ensures superior performance at low cost and is also capable of converting fixed costs to variable costs. By employing the services of low-cost offshore firms, companies can realise significant cost reduction without affecting the overall quality.

The US and Europe account for a major share of the global human resource outsourcing market, while Asia is poised to register the fastest compound annual growth rate over the period to 2017.

Over the past decade, Europe has lagged along way behind the US in terms of prevalence of human resource outsourcing. This has largely been put down to European firms adopting a more conservative approach to using outsourcing due to having to consider more legislative and demographic variations in their business operating model.

Segment-wise, payroll and benefits, the most widely outsourced HR processes, would remain the preferred function within the human resource outsourcing market. This is largely attributed to enterprises' desire to commence outsourcing through such transactional processes, and subsequently move onto outsourcing of other HR functions such as recruitment and learning.

For more information on the human resource outsourcing market, see the latest research: Human Resource Outsourcing Market Report

Follow us on Twitter @CandMResearch

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Change Currency

GBP
USD

Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

eBrandPromote: Get your brands ranked highly online

eBrandPromote: Let us promote your brand online through article writing, press release distribution, social media and search engine marketing services. Click here to download our eBrandPromote brochure.

Accessibility
Close

Contrast settings

Text size settings