The new report recognizes the following companies as the key players in Global Human Resource Outsourcing Market: Accenture, Aon plc, Automatic Data Processing Inc., IBM Corp., Randstad, Adecco, Affiliated Computer Services Inc., Ceridian Corp., Empower Software Solutions Inc., Excellerate HRO Corp., General Outsourcing Co. Ltd., Mercer LLC, NorthgateArinso UK Ltd., Paychex Inc., Pinstripe Inc., TriCore Inc.,Ultimate Software.
Commenting on the report, an analyst from the reports team said: “As a result of its ability to provide instant feedback about businesses, social media has become a major data source for many organizations. With the rise of social media, there is also a need to track user interactions on these sites such as Twitter, Facebook, and LinkedIn. Organizations have realized the need to augment their data warehouses with external data sources. In the current competitive scenario, employers recruit through social media to reach applicants instantly and at a lower cost.”
According to the report, the need to decrease operational expenditure is one of the major drivers in the market. As a result of slower economic growth, organizations need to ensure maximum productivity with minimum expenditure. In addition, globalization has increased the customer base of companies exponentially. However, given the highly competitive business environment, companies are looking at methods to reduce hiring and recruitment costs.
Further, the report states that the absence of direct access to an HR department within an organization is one of the main challenges. HR Outsourcing functions often create a chasm between employees and companies. When HR services are not accessible, it causes delays in addressing issues that reduce efficiency among employees and leads to disillusionment.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.