DALLAS--(BUSINESS WIRE)--The global Recruitment Process Outsourcing (RPO) market grew at 16 percent in 2013 to reach US$1.8 billion in annualized spend, spurred by an ongoing surge in new deal activity and decreased terminations.
After moderate growth in 2012, the North American RPO market – which is the largest RPO geographic segment – made a strong comeback, growing at 21 percent in 2013, its highest growth rate in the last three years. Latin America also witnessed high growth at 23 percent. However, growth moderated in Europe, Middle East, Africa (EMEA) and Asia Pacific (APAC).
These findings and more are discussed in a new Everest Group report, Recruitment Process Outsourcing (RPO) Annual Report 2014—Time to be Strategic.
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“The RPO market faces a significant number of end-of-term contract situations,” said Rajesh Ranjan, vice president at Everest Group. “During these renewals, buyers are looking for service providers offering such value-added services that provide innovative ways to improve quality of hires, access to scarce talent, and predictive visibility into outcome-oriented recruitment metrics. Now is the time to invest in strategic initiatives to improve capabilities, acquire staff who can manage complex accounts, and create a partnership-based strategic relationship.”
Download Publication-Quality Graphics
High-resolution graphics illustrating the report’s key takeaways can be included in news coverage, with attribution to Everest Group. Graphics include:
- RPO market growth was strong in 2012-13, but varied by region
- Multi-country RPO engagements are on the rise
- RPO providers increasingly investing in emerging geographies
- Competition is driving RPO providers to expand services up and down the hiring pyramid.
About Everest Group
Everest Group, an advisor to business leaders on the next generation of global services, has a worldwide reputation for helping Global 1000 firms improve performance by optimizing back- and middle-office business services. Through 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. Visit www.everestgrp.com and research.everestgrp.com.