A few facts for you to consider:
> The majority of businesses with more than 40 employees outsource at least two of the following functions: payroll, benefits, IT, recruiting, or accounting (Ephor Group Research).
> Nearly 40% of small business mangers subscribe to online software (Jupiter Research).
> The human resources outsourcing market (HRO) is a $2.9 billion (in terms of annual contract value) market in the US alone (Gartner)!
While outsourcing adoption varies across geography, industry, and employee segments there are trends:
> Outsourcing demand from Europe continues to rise;
> Manufacturing, high-tech, telecom, healthcare, and professional and financial services are the leading adopters of HRO in the US;
> Small and mid-market businesses are adopting at a faster rate than larger corporations (the mid-market and large market have comparable revenue potential and the mid-market has higher margins).
HR software and technology is growing within the mid-market at more than 20% per year. The fastest growing segments center around performance management with special emphasis on creating a “High Performance Workforce” (HPW).
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