Global Human Resource Outsourcing Market 2016-2020
About Human Resource Outsourcing
HRO refers to the practice of contracting enterprise functions to an external service provider to handle some or all of HR duties and tasks such as recruitment, payroll, training and development, employee policies, compensation and benefits administration, compliance management, pension and health benefits administration. Organizations outsource one or entire HR-related services to reduce costs and improve business productivity.
Technavio’s analysts forecast the global HRO market to grow at a CAGR of 12.74% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global HRO market for 2016-2020. The report also presents the vendor landscape and a corresponding detailed analysis of the top five vendors operating in the market.
The market is divided into the following segments based on end-user:
Technavio Announces the Publication of its Research Report – Global Human Resource Outsourcing Market 2016-2020Technavio recognizes the following companies as the key players in the Global Human Resource Outsourcing Market: Accenture, ADP, Aon Hewitt, IBM and Northgate Information Solutions. Other Prominent Vendors in the market are: Adecco, Affiliated Computer Services, Capgemini, Capita, Ceridian, CGI, Empower Software Solutions, Excellerate HRO, General Outsourcing, Genpact, HCL, Hexaware, HP, Mercer, MidlandHR, Neeyano, Paychex, PeopleStrong, Pinstripe, Randstad Holding, Talent2, TCS, TriCore, Ultimate Software, Wipro, WNS, Xerox, and Zalaris.Commenting on the report, an analyst from Technavio’s team said: “Cloud technology is revolutionizing the process of payroll outsourcing because of its capabilities to deliver high levels of productivity and business enhancement. Cost reduction, consolidated and transparent reporting, flexible payroll operations, reliability, scalability, and agility are some of the advantages offered by cloud-based outsourcing services.”According to the report, recruitment of new talents requires substantial investment involving time and cost for any company. Recruitment software automates the hiring process and helps companies reduce their overall cost involved in the process. This software also reduces the overall time taken by HR department to hire new talents.Further, the report states that some organizations may lose control over their HR functions after outsourcing, as they become too dependent on the outsourced agency, and the organization runs the risk of not being able to operate independently.
Accenture, ADP, Aon Hewitt, IBM, Northgate Information Solutions, Adecco, Affiliated Computer Services, Capgemini, Capita, Ceridian, CGI, Empower Software Solutions, Excellerate HRO, General Outsourcing, Genpact, HCL, Hexaware, HP, Mercer, MidlandHR, Neeyano, Paychex, PeopleStrong, Pinstripe, Randstad Holding, Talent2, TCS, TriCore, Ultimate Software, Wipro, WNS, Xerox, Zalaris.
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook