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SOURCE: Everest Group
RPO market projected to grow 12-17 percent in 2013.
Dallas, Texas (PRWEB) March 20, 2013
The Recruitment Process Outsourcing (RPO) market is projected to grow 12-17 percent in 2013 following the market’s significant slowdown in 2012 due to a dramatic decrease in hiring volumes, according to a new research study by Everest Group, an advisory and research firm on global services.
The RPO market growth slowed to about 12 percent in 2012 and is currently estimated at about US$1.5 billion in annual contract volume (ACV), according to Everest Group’s report, Recruitment Process Outsourcing Annual Report 2013: Dichotomy of Market Exuberance and Subdued Economy. On the other hand, new buyers continue to enter the market at a rapid pace and the market grew by around 50 percent in terms of new deal signings in 2012.
“A significant increase in new RPO deal signings in 2012 had the potential to contribute 25 percent to the market size assuming deals were similar in size in terms of annual hires as in previous years, but the slowdown in hiring sapped the market,” said Rajesh Ranjan, vice president, Everest Group. “Decreased hiring activity affected sizes of both new and existing RPO contracts, thus impacting the overall growth of the market. Despite the economy’s negative affect on the RPO market, buyer interest remains strong, so it stands to reason the RPO market will regain its more aggressive growth pattern when hiring returns to more normal levels.”
Other report insights about the RPO market include:
The research report was based on analyzing over 900 RPO deals and executive level interviews with several RPO buyers and service providers. Service providers covered in the report include Accenture, Advantage xPO, Alexander Mann Solutions, Allegis Group Services, Aon Hewitt, Capita Resourcing, Futurestep, Hays, Hudson, IBM Kenexa RPO, KellyOCG, Kenexa, ManpowerGroup, Neeyamo, Ochre House, PeopleScout, PeopleStrong, Pinstripe, Pontoon Solutions, Randstad Sourceright, Resource Solutions, Talent2, The Right Thing, Wilson HCG and Yoh.
For more information about the report, Recruitment Process Outsourcing Annual Report 2013: Dichotomy of Market Exuberance and Subdued Economy, other RPO or Human Resources Outsourcing reports, or other research services, please visit research.everestgrp.com, e-mail info(at)everestgrp(dot)com or call +1-214-451-3110.
About Everest Group
Everest Group is an advisor to business leaders on the next generation of global services with a worldwide reputation for helping Global 1000 firms dramatically improve their performance by optimizing their back- and middle-office business services. With a fact-based approach driving outcomes, Everest Group counsels organizations with complex challenges related to the use and delivery of global services in their pursuits to balance short-term needs with long-term goals. Through its practical consulting, original research and industry resource services, Everest Group helps clients maximize value from delivery strategies, talent and sourcing models, technologies and management approaches. Established in 1991, Everest Group serves users of global services, providers of services, country organizations and private equity firms, in six continents across all industry categories. For more information, please visit http://www.everestgrp.com and research.everestgrp.com.
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