SpendEdge Forecasts a Spend Growth of over USD 150 Billion for the Recruitment Industry
LONDON--(BUSINESS WIRE)--Nov 21, 2019--
SpendEdge, a global procurement market intelligence firm, has announced the release of its Global Recruitment Industry - Procurement Intelligence Report.
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Global Recruitment Industry Procurement Intelligence Report. (Graphic: Business Wire)
In an effort to reduce operational expenses, buyers from most of the organizations across the globe are preferring to outsource support functions, such as recruitment services, to third-party agencies. This is rapidly driving the demand for recruitment process outsourcing services which is a sub-segment of the recruitment industry. Currently, the recruitment industry is being dominated by the temporary staffing services segment owing to the growing demand for temporary marketing professionals in the US. According to forecasts, the recruitment industry will witness a spend momentum of more than 5% between 2018-2023.
Despite predictions of spend growth, frequent changes in the regulatory frameworks across regions and growing stringency of the same will herald complexities and increase the cost of services in the recruitment industry.
“ Theprevalence of stringent labor laws and the possibilities of amendments done on the existing regulations are expected to hike the pricing for a temporary staffing employee in the global recruitment industry,” says SpendEdge procurement expert Tridib Bora.
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Other key topics covered in this report are:
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