Global talent crunch to drive RPO market’s $24Bn growth by 2030
PUNE, INDIA — The Recruitment Process Outsourcing (RPO) market is projected to reach $24.42 billion by 2030, propelled by an increasing global talent crunch and the globalization of businesses.
According to a new report by SNS Insider, the RPO market is estimated to grow at a compound annual growth rate (CAGR) of 15.52% from 2023 to 2030 as organizations seek to streamline talent acquisition by leveraging RPO providers’ expertise.
RPO enables companies to outsource all or part of their recruitment processes to external service providers. This strategic approach allows businesses to focus on core competencies while specialized RPO partners handle recruitment tasks ranging from sourcing to hiring.
Several key drivers underpin the RPO market’s growth, including the rising complexity of the global talent landscape. Additionally, the demand for cost-effective, scalable hiring solutions has fueled RPO adoption, especially among small and medium enterprises.
Furthermore, technological advancements like artificial intelligence (AI) and data analytics integrated into recruitment workflows are propelling RPO market growth.
As businesses recognize RPO’s strategic value in boosting efficiency and reducing time-to-hire, sustained expansion is expected.
RPO’s centralized approach to talent acquisition also provides consistency in hiring across geographical locations as companies expand globally. This globalization-friendly model enhances organizational cohesion.
While promising, SNS Insider also noted that the RPO market faces challenges like potential resistance to change, data security concerns, and the need to integrate with existing HR systems. Moreover, workforce and industry dynamics introduce unpredictability that demands strategic agility.
