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Human Resource Outsourcing (HRO) Market Analysis, Trends, and Forecasts, 2016-2019 & 2024 - Focus on Benefits Administration, Payroll, Education & Training, Recruitment Process Outsourcing & Others

DUBLIN, May 20, 2019 /PRNewswire/ -- The "Human Resource Outsourcing (HRO) - Market Analysis, Trends, and Forecasts" report has been added to ResearchAndMarkets.com's offering.

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The report provides separate comprehensive analytics for the US, Canada, Europe, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for the period 2016 through 2024. Also, a five-year historic analysis is provided for these markets.

This report analyzes the worldwide markets in US$ Million by the following Service Segments:

  • Benefits Administration Services
  • Payroll Services
  • Education & Training Services
  • Recruitment Process Outsourcing
  • Other Services

The report profiles 188 companies including many key and niche players such as:

  • Accenture PLC
  • Adecco Group AG
  • ADP LLC
  • Aon Hewitt
  • Cielo, Inc.
  • Ceridian HCM, Inc.
  • CGI Group, Inc.
  • Equifax, Inc.
  • General Outsourcing Co. Ltd.
  • Infosys BPM Ltd.
  • International Business Machines Corporation
  • Intuit, Inc.
  • Kronos, Inc.
  • Mercer, LLC
  • NGA Human Resources
  • Paychex, Inc.
  • Randstad Holding NV
  • Ultimate Software Group, Inc.

Key Topics Covered:

1. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Benefits Administration Services
Payroll Services
Education and Training Services
Recruitment Process Outsourcing
Other Services

2. INDUSTRY OVERVIEW
A Prelude
HRO - A Rapidly Growing BPO Segment
Snapshots
Growth Drivers
For Client Companies
For Service Providers
Growth Restraints
For Client Companies
For Service Providers
Market Outlook
Growth Opportunities in Service Segments
Emerging Markets to Drive Future Growth
Cost Reduction: Finding Favor Again in Difficult Times
Need for Regulatory Compliance Drives Adoption of HRO Services
Lowering Risk Levels & Simpler HRO Engagements - Key Growth Drivers
Multi-Process HRO (MPHRO): Favorable Prospects in the Long Run
Shift towards Cloud-based Platforms Drives MPHRO Market
Sourcing Strategy/Model: Means to Achieve Business Process
More Organizations Gravitate towards HR Outsourcing
Factors Creating Need for HR Outsourcing
Future of HR Outsourcing
Key Considerations

3. KEY MARKET TRENDS
Noteworthy Trends Influencing the HR Outsourcing Market
Big Data Analytics
Transition to Cloud
Online Payroll
Workplace Wellness
Passive Candidates
Blind Hiring
Remote Workforce
Selective Outsourcing
Gamification
Social Media
Continuous Adoption of Services Propels HRO Industry
Cloud - The Preferred Platform for HRO
BPaaS - A Growing Trend
Cloud-Based Recruitment Software Rises in Popularity
HRO Analytics Gain Prominence in HR Management & Administration
Predictive Analytics - An Indispensable tool for HR
Robotic Automation Makes In Roads in HRO Industry
Trend towards Process Convergence
Moving to a Transformational-Transfer' Model
Focus Grows on Small and Mid-Size Companies
Select HR Outsourcing Trends Related to Small Businesses
HR BPO Redefines HR Profession
End-to-End Services: Rise in HRO
Demographic Changes Support HRO Growth
Selective Approach Finds Favor
Offshore HR BPO: Driving Cost-Effectiveness
Focus on Business Process Improvement Gains Momentum
PEO Concept Gains Strength
Benefits and Drawbacks of PEO
Recruitment Process Outsourcing - Gaining Wider Attention
Factors Driving Growth in the RPO Market
Key Recruitment Process Functions Outsourced by Order of Importance
RPO Sector Registers Growth in Number of Deals
Offshoring of RPO Services Picks Up Pace
Talent Acquisition - Changing Definition of RPOs
Digitization of Talent Acquisition Process
Payroll Outsourcing Services Rise in Adoption
Multi-Country Payroll Outsourcing - A High Growth Market
Benefits Administration: Offering Potential Growth Opportunities for Outsourcing
Trend towards Health & Welfare Services Drives Growth in BAO
Workforce Management Outsourcing Gains Pace
Learning Outsourcing Services - Fulfilling Training Requirements
Market Challenges
Challenges in HR Transformation
HRMS: A Competitor for HRO Market

4. SERVICE OVERVIEW
Introduction
Reasons for Outsourcing HR Services
Outsourced HR Functions
Overview of Major Segments
Benefits Administration Services
Payroll Services
Learning Services Outsourcing
Recruitment Process Outsourcing
RPO The Beginning
Comparison with Other Models
Drawbacks of RPO Model
Other Services
Hiring Administration Services
Workforce Administration
Advantages of HRO
Drawbacks of HRO Services
Evolution of HRO Market: A Glance at the Past
The HRO Process
Benefits of HRO Strategy
HRO Company
Traditional HR Vendors
Professional Employer Organization
Application Service Providers
Business Process Outsourcing
E-Services
HRO Types
Discrete Services
Multi-Process Services
Total HR Outsourcing
Approaches/Models of Outsourcing
Sole Sourcing - A Model for Increasing Operational Efficiency
One-Stop-Shop for Comprehensive HR Outsourcing
Multi-Source Approach: Gains Strength
Benefits of Multi-Sourcing Approach
Challenges Facing Multi-Sourcing Strategy
HCM Options
Major Issues While Outsourcing HR Services
The Statement of Work
Service Levels
Legal Considerations
HR B2B Exchanges
HR Portals
Integrated HR Offering
Full-Service HRO
Full-Service HRO Offers Substantial Value
Labor Arbitrage
Economies of Scale
Cross-Process Synergies
Other Benefits of Full-Service HRO
HRO Service Providers

5. COMPETITIVE LANDSCAPE
Consolidation Gathers Pace in the HRO Industry
Payroll Outsourcing Services Landscape
Recruitment Process Outsourcing Market Leaders
Leading HR Outsourcing Services Providers
Paychex Flex Serves Small Businesses
Oasis Outsourcing for Very Small Businesses
Insperity Targets Clients Seeking Customized Offering
TriNet Delivers Industry-Specific Solutions
Other Prominent Providers
Noteworthy Trends
Companies Focus on Competitive Sourcing While Considering Contract Renewals
Scalability - A Key Benefit Spurring Market Growth
Global Capabilities - A Key Vendor Selection Criterion
Shrinking Deal Sizes
Focus Grows on Short-term Deals
Multiple Vendor Relationships Gain Prominence
Right Mix of External and Internal Resources - Key to Competitive Edge
HR BPO Providers Target Services for Middle Market

5.1 Focus on Select Global Players

5.2 Service/Product Introductions
Square Launches Square Payroll App
Complete Payroll Solutions Commences Human Resource Outsourcing Division
TriNet Introduces TriNet Professional Services
Intuit Announces New Enhanced Features of Payroll Service Solutions
RKL Launches HR Consulting Practice
AdminiSMART Launches Easy HRO Service
Cielo Launches High Volume RPO
Ramco Launches Japan Payroll Software on its Global Payroll Engine
DataOn Introduces SunFish Payroll Outsourcing Services

5.3 Recent Industry Activity
CoAdvantage Acquires Remedy
Fourth Purchases Choice HR
Penn State Implements New Enterprise-Wide HR and Payroll System
G&A Partners Acquires Dallas' Zogg Benefits
ADP Buys Celergo
Xero Partners with Gusto for Payroll Services
Ultimate Software to Acquire PeopleDoc
Oasis Outsourcing to Acquire Aureon HR
TrueBlue Acquires TMP
Mercer Purchases everBe
H.I.G. to Acquire Conduent's US Based HR Consulting and Actuarial Business
Asure Software Purchases Austin HR
Paychex Acquires Lessor
ADP Partners with ZipRecruiter for HR Technology Solutions
Asure Software Acquires Three HR, Payroll and Employee Benefits Services Providers
Asure Software Acquires Sheakley PaySystems
Infosys Renames the BPO Unit as Infosys BPM
Oasis Outsourcing Acquires Staff One HR
Ceridian Collaborates with Microsoft for Payroll Solution
CoAdvantage Acquires Total HR
Paychex Purchases HROI
Mercer Partners with ServiceNow to Enhance Digital HR Solutions
TMF Group Acquires Payroll Services AG
Oasis Outsourcing Purchases DHR Services
Alight Re-Launches with New Name and Brand
Vattenfall Collaborates with Accenture to Transform HR Function
AmeriPride Selects UltiPro to Unify and Manage the U.S. and Canadian HCM

6. GLOBAL MARKET PERSPECTIVE

7. REGIONAL MARKET PERSPECTIVE

8. COMPANY PROFILES

  • Total Companies Profiled: 188 (including Divisions/Subsidiaries - 201)
  • The United States (134)
  • Canada (7)
  • Japan (2)
  • Europe (31)
  • Asia-Pacific (Excluding Japan) (27)

For more information about this report visit https://www.researchandmarkets.com/r/3tbxmn

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