Global Industry Analysts, Inc, a worldwide business strategy and market intelligence company, recently released its global strategic business report on the human resources outsourcing (HRO) market.
The growing market for human resources outsourcing is expected to reach $199.6 billion by the year 2017! According to Global Industry Analysts, the recent increase in demand for human resources is driven by the need for companies to align business operations with HR. As compliance pressures and the complexity of business processes become increasingly difficult, many companies are calling in the professionals!
Other significant reasons companies are engaging in co-employment relationships and human resources outsourcing is cost reduction, policy framework, and access to specialized technologies. Growth is not limited to the US either; HRO is now a global market. Continental European markets, the UK and Asia are all expected to grow exponentially in the upcoming years, as more organizations recognize that outsourcing components of human resources increases efficiency and reduces costs
By employing the services of “HR experts,” companies can gain significant cost reductions without affecting the overall quality of operations. Business continues as usual, with the one exception that HR is streamlined and improved!
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