Global recruitment process outsourcing forecast to grow 18%

Global recruitment process

From 2017 to 2021, the global recruitment process outsourcing (RPO) market is forecast to grow at a compounded annual growth rate of 18%, according to a market report released by Technavio. The report said blended RPO solutions will continue to account for the bigger chunk of the market after taking up 58% of the total in 2016. The growth will be buoyed by increased usage of neo-sourcing, emergence of nearshore outsourcing destinations, and moving up HR value chain and compliance. Many companies are trying to integrate business with technology solutions to reduce costs and improve productivity and innovation. The report also noted the integration of IT outsourcing and BPO, termed as neo-sourcing, is an evolution of BPO models offered by outsourcing companies.