As things stand today, the global RPO market is estimated to reach $4.4 billion by 2017, of which Asia Pacific will command a massive 31% share. It is estimated that India will power ahead with a whopping 40-50% YOY growth to grow the market to almost 400 crores.
With RPOs bringing in more value addition than ever before, even mid sized companies are showing a lot of interest in exploring recruiting solutions.
The most popular processes to get outsourced are Pre-Recruitment (Sourcing, Screening and Testing), Post Recruitment (Reference Checking, candidate on-boarding) and Vendor Management.
What RPOs are doing is changing the dynamics of financial planning and workforce management. Companies are choosing to go via the RPO route because it offers much higher ROI, is highly flexible, offers future scalability and has a much better candidate experience.
India has finally come into its own as RPOs continue to show incremental scope for growth. All major multinationals are eyeing India specially BFSI, IT and Telecommunications and the Automobile industry.
As the Make in India campaign gathers more steam, things are looking up for the Indian employment market. More and more jobs are getting created, and more hiring will mean more business. More business always means good news for everyone.