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HR outsourcing market to see continued strong growth

February 08, 2019 / Lisa Burden

The global multi-process HR outsourcing market (MPHRO) will continue its 6% to 8% growth over the next three years, exceeding $5 billion in 2020, the Everest Group has predicted. The group's new report covers the 2017 to 2018 HRO market and analyzes the evolving market situation and buyer adoption trends. The growth will be fueled by enterprises seeking strategic partners who can support a next-generation HR model where technology is leveraged to reduce costs, improve process efficiency and integrate a seamless, intuitive employee experience, the consulting and research firm said. Enterprises want to undergo end-to-end transformation of their HR processes rather than "focus on transactions in isolation," Everest Group noted, so more of these platforms include talent management capabilities. HR has adopted a slew of cloud-based technologies, and favored platforms for MPHRO reflect that trend. Workday has seen the highest traction, followed by SAP and SuccessFacto...