RPO Industry Growth In The Improving Economy
The global work scenario has changed with many companies headquartered in the US or the UK and their operating facilities located in China, India or some other country.
This has also brought about changes in their recruitment and staffing pattern. Since companies can’t themselves handle recruitment in these countries, they hire a recruitment outsourcing company to do the job.
In a very short time countries like the US and Europe have recognized the potential of recruitment outsourcing and have harped on them; however, Asia Pacific is still slow to adopt this change. Big RPO service providers have stated costs, scalability and introduction of social media in recruitment as the greatest triggers for the shift in thinking.
With global village thrown in the mix, the need to centralize the recruitment process across all countries has also become predominant. Other RPO benefits like applicant tracking systems, candidate relationship managers, cross-culture and multi-lingual capabilities and the use of latest recruitment technologies are touted as some of the key decision makers.
RPO Industry Trend
A while back, most companies had put recruitment on a backseat and were even downsizing their companies due to the economic crisis. However, the recent report from Everest Group is painting a healthy picture of economy recovery and shows that the global services marketplace has stabilized.
According to the report, the first quarter of 2013 was better than the 3rd and the 4th quarter of 2012. Thanks to revenue boost and operating margin growth in some of the major service providers. The greatest shift in pattern has been noticed in migrates and talent expats. According to Mercer’s Talent Barometer Survey, 60 percent of the 1,200 global companies surveyed are heavily investing in talent expats.
RPO Industry Growth
According to the RPO biggies, bigger and better things are yet to come for the RPO industry. The newer programs are believed to yield better results and will lead to growth for all RPO providers.
The current scenario is such that only those companies that provide total workforce solutions will see the light of future. This covers permanent, temporary and contract workers across the globe. This also means that RPO providers should have knowledge of legislative and regulatory laws of all countries.
At Rishabh BPO, we take stock of the current scenario and gear up for the future, changing our dynamics according to the needs of the industry. This attitude has helped us to successfully provide the best solutions to our clients. Call us on 1-877-RISHABH (1-877-747-4224) or fill out this contact form and find out more about our RPO solutions.