Southeast Asia RPO market forecast to hit USD154.7m by 2020

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A report released by Transparency Market Research forecast a compounded annual growth rate of 19.3% for the recruitment process outsourcing (RPO) market in Southeast Asia. The report said the RPO market in the region will likely rise to USD154.7m by 2020 from USD45.6m in 2014. RPO refers to the outsourcing of various recruitment functions such as interview scheduling, candidate screening, offer execution, and job posting to third-party vendors. The region’s RPO market is propelled by the rapid economic development in Southeast Asia and the several advantages presented by RPO. The report also noted the increased adoption of RPO services in the Philippines, Malaysia, Singapore and Myanmar.