Global HR outsourcing industry to grow annually 12.7% between 2014-2020

Between 2014 and 2020, the global human resource outsourcing market is forecast to grow at a compounded annual growth rate of 12.74%, according to a report released by Wise Guy Reports. The HR outsourcing market refers to the practice of outsourcing enterprise functions such as HR duties, recruitment, payroll, training and development, pension and health benefits administration, employee policies, among others. According to the report, the market is forecast to further grow as more organizations outsource one or entire HR-related services to reduce costs and improve business productivity. Wise Guy Reports is part of the Wise Guy Consultants Ltd, which offers premium progressive statistical surveying, market research reports, analysis and forecast data around the world.