Next generation recruitment process outsourcing (RPO) is an effective recruitment process where several tasks are performed, from sourcing and selecting candidates, to maintain the quality of recruits. The next generation RPO providers are incorporating advanced technologies such as artificial intelligence and machine learning for automated recruiting such as automated screening of resumes, schedule interviews, workforce planning and others, which is favouring the growth of global next generation RPO market. Growing inclination towards outsourcing of recruitment processes across organizations, especially small and medium enterprises, along with flexible hiring models being incorporated across enterprises amidst the outbreak of coronavirus pandemic, is estimated to further boost the growth of global next generation RPO market over the period of next eight years.
In terms of revenue, global next generation RPO market is anticipated to witness a CAGR of 16.5% over the forecast period (2021 – 2029). The study analyses the market in terms of revenue across all the major regions, which have been bifurcated into countries.
Access the Full Report @ https://www.absolutemarketsinsights.com/reports/Global-Next-Generation-RPO-Market-2021—2029-985
Companies are leveraging artificial intelligence in the recruitment processes to hire qualified candidates with better working experiences. AI for recruiting means the application of artificial intelligence where various technologies are helping to streamline the part of the recruiting workflow and high-volume tasks. Recruiters are using chatbots with the main aim to provide real-time interactions with the candidates by asking specific questions. AI-powered chatbots help improve the candidate experience for the recruitment process. It was reported, that about 67% of job seekers form a positive impression of a company if they get regular updates throughout the recruitment process from the specific employer. Additionally, next generation RPO market participants are using predictive analytics in recruitment where the data available is used to make future predictions, hiring decisions and also helps in workforce planning. Predictive analytics has hence become vital in recruiting as it helps to identify strong hires for open positions and help to make better offer to candidates with requisite experience.
The next generation RPO market has seen favorable results amidst the Covid-19 pandemic, as it has positively and continuously evolved, in terms of service portfolio, value proposition, and new recruiting processes. However, while various industries have adopted work from home (WFH) model, advanced RPO processes have been considered to provide value proposition to cater to intense fluctuations in hiring requirements and have continued to maintain service quality levels. Particularly, the COVID-19 crisis has paved the path for next generation RPO, which is more dynamic, reliable, and significantly more agile in driving and shaping clients next-generation talent acquisition needs.
Some of the players operating in the next generation RPO market are Catenon, S.A., CIELO, Hudson Global Inc, NXTThing RPO, PeopleScout, Planet Group, Recruit Holdings Co., Ltd., RGF Staffing, Rocket Power, Inc, SA Technologies, Inc., Sevenstep, TriSearch, and WilsonHCG amongst other industry participants.
Global Next Generation RPO Market
By Offering
- Enterprise RPO
- Project-based RPO
- Full Service/Total RPO
- On-Demand RPO
- Others
By Technology
- Artificial Intelligence and Machine Learning
- Predictive Analytics
- Others
By Workforce Type
- Permanent
- Contractual
By Enterprise Size
- Small and Medium Enterprises
- Large Enterprises
By End User Industry
- Banking, Financial Services and Insurance
- Information Technology and Telecommunications
- Manufacturing
- Automotive
- Travel & Hospitality
- Healthcare & Pharmaceuticals
- Retail & Consumer Goods
- Energy
- Education
- Others
By Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Contact Us:
Company: Absolute Markets Insights
Email Id: sales@absolutemarketsinsights.com
Phone: IN +91-740-024-2424, US +1-510-420-1213
Contact Name: Shreyas Tanna
Website: www.absolutemarketsinsights.com