In the last 15 years, the RPO industry has successfully evolved to meet changing business requirements. Although RPO operations were affected by COVID-19, the industry has shown considerable resilience and is expected to return to a robust growth rate. The RPO market size in APAC is expected to reach a value of $1.08 billion during 2022-2025 at a CAGR of 14.07%.
With organizations looking to hire talent to rebuild their businesses, RPO is expected to be a popular choice for hirers worldwide. One of the key factors driving market growth is the effectiveness of hiring processes and the reduction of overhead costs. By helping provide flexible and customizable solutions that address a myriad of customer needs, RPO providers are especially valuable to the various organizations in the APAC region. Additionally, the diverse array of talent and innovative use of technology have helped the RPO industry improve productivity across sectors in APAC markets.
To enhance their capabilities, service providers are implementing innovative technologies such as Artificial Intelligence (AI) and Machine Learning (ML) to self-schedule interviews and automatically screen CVs. Additionally, chatbots and other assessment tools are being used by service providers to monitor candidate engagement. The system automates several tasks, such as sourcing and discovering candidates, employee reference gathering, and diversity hiring, to improve workforce planning. Due to the persistent and increasingly accelerated talent shortages in various markets such as technology and healthcare, RPOs will also be adopted at a faster rate, especially since the industry remains relatively underdeveloped compared to other major outsourcing markets.
In this edition of Manage HR APAC, we present the list of the top recruitment process outsourcing companies in APAC that are at the forefront of innovation in the region’s recruiting arena. Globe 24-7 and Manning Global are companies that help organizations adapt to changing recruiting practices and market trends and meet the challenges head-on. We also bring to you thought leadership articles and exclusive insights from expert CIOs and CXOs -Arindam Dan, General Manager HR, Mitsubishi Chemical Corporation, Em Doria, Asia Region HR Director, LG Electronics, and Chris Major, Global Talent Acquisition Director, Siegwerk presenting their ideas and opinions on how recruiters can retain their workforce and improve their efficiency in the workplace. We hope the valuable insights from industry thought leaders and the RPO organizations featured in this edition help you make informed decisions for your organization.
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