New Jersey, NJ -- (SBWIRE) -- 10/12/2022 -- Latest survey on Global Outsourced Human Resource Services Market is conducted to provide hidden gems performance analysis of Outsourced Human Resource Services to better demonstrate competitive environment. The study is a mix of quantitative market stats and qualitative analytical information to uncover market size revenue breakdown by key business segments and end-use applications. The report bridges the historical data from 2017 to 2021 and forecasted till 2028*, the outbreak of the latest scenario in Global Outsourced Human Resource Services market has made companies uncertain about their future outlook as the disturbance in the value chain have made a serious economic slump. Some are the key & emerging players that are part of the coverage and profiled in the study are International Business Machines Corp (United States), Accenture (Ireland), Adecco Group AG (Switzerland), Automatic Data Processing Inc (United States), Capgemini Service SAS (France), Capita Plc (United Kingdom), Ceridian HCM Holding Inc (United States), CGI Inc (Canada), Manpower Group (United States) and HCL Technologies Ltd (India).
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If you are part of the Global Outsourced Human Resource Services industry or intend to be, then study would provide you comprehensive outlook. It is vital to keep your market knowledge up to date analyzed by major players and high-growth emerging players. If a different set of players need to be analyzed as per geography or regional target then enquire us with your customized requirements.
Human Resource Outsourcing is a technique in which a company employs a third-party company to manage its human resources and administrative functions. In other words, HR outsourcing is the practice of getting work that has already been performed by corporate employees from other sources. HR functions are among the services that firms are most likely to outsource for a variety of reasons, including cost savings and allowing human resource experts to focus on more strategic endeavors. As a result, HR professionals are being asked to help businesses identify outsourcing alternatives and advise them through vendor selection and relationship management. Employers can choose from a variety of HR outsourcing services. Outsourcing one portion of one HR function, such as application monitoring for affirmative action purposes, or outsourcing the complete human resource department, are both viable possibilities.
Market Drivers
- The advancement in technology making the complex process of human resources digitized is driving the growth of Human Resource outsourcing.
Market Opportunities
- Companies are looking to reduce expenses in the human resources but are also looking for better recruitment
Restraints
- Loss of control over staff
Regulatory Insights:
Per the Employee's Provident Fund Organisation (EPFO), every organization that has a minimum of 20 employees should register for the PF. Any non-adherence to the rules of EPFO may attract penalties. The global market is highly competitive and consists of a limited number of providers who compete with each other. The intense competition, changing consumer spending patterns, demographic trends, and frequent changes in consumer preferences pose significant opportunities for market growth.
Market Developments Activities:
G&A Partners announced today that it has expanded into Iowa and Nebraska with the acquisition of Focus OneSource in Des Moines, Iowa. With this acquisition, G&A Partners will now provide HR services, employee benefits, and technology to more than 3,000 clients nationwide and more than 80,000 worksite employees.
Paychex and Jirav have announced officially an integration that allows accounting firms to provide significant financial strategic planning (FP&A) advice services to their clients utilizing both technological solutions. Accounting firms can also provide reports and insights to clientele faster and with fewer errors with respect to the implementation of Paychex workforce and financial data into Jirav's FP&A solution, which allows them to access data directly from the system of record and automate the refresh of mission-critical reports for clients.
Outsourced Human Resource Services Market: Competition Analysis
With the drastic changes in consumer behavior, firms, brands, and value stakeholder in Outsourced Human Resource Services are curious to understand the implications for their products and services. Some of the key competitors or manufacturers included in the study are International Business Machines Corp (United States), Accenture (Ireland), Adecco Group AG (Switzerland), Automatic Data Processing Inc (United States), Capgemini Service SAS (France), Capita Plc (United Kingdom), Ceridian HCM Holding Inc (United States), CGI Inc (Canada), Manpower Group (United States) and HCL Technologies Ltd (India)
Market Analysis: by Type (Software-as-a-service, Business-process outsourcing, Single-source outsourcing, Shared services and shared-services centers, Professional employer organizations), Application (Compensation, Workforce administration, External recruitment, Relocation, Employee rewards and recognition, Benefits administration)
Outsourced Human Resource Services Quantitative Market Data
Market Data breakdown by major geographies, Type & Application/End-users
- Outsourced Human Resource Services Market Revenue & Growth Rate by Type (2017-2028)
- Outsourced Human Resource Services Market Revenue & Growth Rate by Application (2017-2028)
- Outsourced Human Resource Services Market Revenue & Growth Rate by Each Region Specified (2017-2027)
- Outsourced Human Resource Services Market Volume & Growth Rate by Each Region Specified, Application & Type (2017-2028)
- Outsourced Human Resource Services Market Revenue Share & Y-O-Y Growth Rate by Players (2020-2022E)
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Important Features that are under offering & key highlights of the Outsourced Human Resource Services market report:
1. Why lots of Key players are not profiled in the Study?
--> The market study is surveyed by collecting data of various companies from Outsourced Human Resource Services industry, and the base for coverage is NAICS standards. However, the study is not limited to profiling only a few companies; connect with sales executives to get a customized list. The standard version of the research report is listed with players like International Business Machines Corp (United States), Accenture (Ireland), Adecco Group AG (Switzerland), Automatic Data Processing Inc (United States), Capgemini Service SAS (France), Capita Plc (United Kingdom), Ceridian HCM Holding Inc (United States), CGI Inc (Canada), Manpower Group (United States) and HCL Technologies Ltd (India)
2. Does Scope of Market Study allow further Segmentation?
---> Yes, for a deep dive analysis add-on segmentation is applicable in a premium customized version of the report to better derive market values. The standard version of this report covers segmentation by Application, by Type, and by regions [North America, Europe, Asia-Pacific etc]
3. What value addition does the Country landscape will provide?
---> In the premium version of the report, two-level of regional segmentation allows user to have access to a country-level break-up of market Size by revenue and volume*
* Wherever applicable
HTF MI provides customized studies specific to regional and country-level reports for the following areas.
- North America: United States, Canada, and Mexico.
- South & Central America: Argentina, Chile, and Brazil.
- Middle East & Africa: Saudi Arabia, UAE, Turkey, Egypt, and South Africa.
- Europe: the United Kingdom, France, Italy, Germany, Spain, and Russia.
- Asia-Pacific: India, China, Japan, South Korea, Indonesia, Singapore, Australia, etc.
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Actual Numbers & In-Depth Analysis, Business opportunities, Market Size Estimation Available in Full Report.
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