Rapid technology advances, regulatory shifts, and economic volatility are reshaping the BFSI industry. Trends such as AI adoption, rising cybersecurity needs, and sustainability focus are transforming workforce demands, creating new roles, phasing out legacy skills, and intensifying the race for digital and niche talent. Enterprises now face mounting pressure to attract, retain, and upskill a dynamic, diverse workforce amid growing talent shortages. Within the subsectors of banking, capital markets, insurance, and FinTech, digital agendas and regulatory demands are fueling distinct hiring challenges. Organizations are rethinking workforce models, balancing permanent and contingent talent, and adopting agile, skill-based hiring. Strategic outsourcing through Recruitment Process Outsourcing (RPO) and contingent workforce management is gaining traction, while employer branding and early talent initiatives are becoming essential in a competitive talent market. This report offers a global and country-level view of evolving BFSI talent trends, talent acquisition maturity, and strategic priorities. It provides actionable insights to help BFSI enterprises optimize talent acquisition through modular RPO, curated managed service providers, and AI-driven recruitment, enabling them to build agile, future-ready workforces aligned with the industry’s rapid transformation.

The global Recruitment Process Outsourcing (RPO) market in 2024 remained subdued amid ongoing macroeconomic uncertainty, creating a difficult operating environment for both enterprises and providers. RPO providers faced another year of muted demand for their services and stepped up by providing tailored and customized services to address the need for greater agility. They also invested in technology advances to support their clients in emerging needs for skills-based recruitment and generative AI. Consulting and value-added services gained utmost importance as buyers looked to their RPO providers to help them navigate the volatile environment through strategic workforce planning, upskilling/reskilling, skills advisory, and graduate and early careers hiring. In this report, we examine the RPO provider landscape and assess 31 providers featured in Everest Group’s Recruitment Process Outsourcing (RPO) PEAK Matrix® Assessment 2025 – Global. Additionally, the report provides an overview of the market and analyzes providers’ differentiation areas. The research will enable buyers to select the best-fit provider for their needs and empower providers to benchmark themselves against their peers. Scope All industries and geographies This report includes third-party RPO deals, excluding shared services or global business services This report examines over 6,700 multi-process RPO deals as of 2024, each involving a minimum of two recruitment processes Contents In this report, we: Examine the RPO providers’ landscape Position the providers on Everest Group’s PEAK Matrix® framework as Leaders, Major Contenders, and Aspirants Assess providers’ overall RPO capabilities across market adoption, portfolio mix, value delivered, scope of services offered, innovation and investments, delivery footprint, and vision and strategy

In an increasingly volatile and fast-paced business environment, contingent labor is becoming a key driver of agility and specialized talent access. However, managing this workforce segment comes with challenges, including sourcing, compliance, planning, and visibility. Hence, leveraging advanced analytics and integrated technologies is essential to stay ahead. The need for data-driven, smarter, tech-enabled approaches is urgent. Organizations can gain real-time insights, optimize decision-making, and forecast talent needs more precisely by leveraging predictive and prescriptive analytics, along with technologies such as Artificial Intelligence (AI)/ Machine Learning (ML), Natural Language Processing (NLP), and Robotic Process Automation (RPA). In this Viewpoint, Everest Group explores how data-driven strategies and advanced analytics transform Contingent Workforce Management (CWM). It offers a strategic roadmap to embed analytics into CWM programs, improve efficiency, and deliver long-term value across stakeholder groups. Scope All industries and geographies Contents In this report, we explore: The rising importance of data and analytics for an effective CWM program A robust data-driven CWM program’s key components Strategies to infuse data analytics into existing CWM programs

Organizations are shifting from traditional fixed employment models to more agile, hybrid workforce strategies integrating freelancers and Independent Contractors (ICs) with full-time employees. As freelancers become more integral to business operations, enterprises require structured solutions to manage freelancer sourcing, onboarding, compliance, payments, and performance tracking effectively. Without dedicated systems, organizations face inefficiencies, compliance risks, and lost opportunities for innovation. Freelancer Engagement and Management Systems (FEMS) offer purpose-built solutions for managing the freelancer lifecycle. These platforms enable organizations to efficiently engage, manage, and pay freelancers while ensuring compliance and seamlessly integrating with business workflows. Leading FEMS providers are enhancing their platforms with improved user experiences, AI-driven matching, automated compliance management, and robust payment solutions. In this report, we evaluate 16 FEMS providers using Everest Group’s proprietary PEAK Matrix® framework, focusing on market impact, vision, and capability. The report helps buyers identify the right FEMS provider for their needs and enables providers to benchmark themselves against their competition.

The energy sector is undergoing a major transformation driven by technological advancements, regulatory pressures, and the shift toward renewable energy. This transformation is driving the demand for green and technology skills while creating challenges in sourcing and developing the right talent. The need for upskilling is critical, and strategies such as AI integration, global talent sourcing, and data-driven workforce planning are key to building a resilient workforce. These insights provide a roadmap for navigating the sector’s evolving landscape. Faced with talent shortages and skill gaps, energy and utility organizations are partnering with MSPs and RPO providers to attract top talent, strengthen employee value propositions, and harness market intelligence and emerging technologies to streamline talent acquisition. In this viewpoint, we explore ways energy and utility organizations can future-proof their talent acquisition and management strategies, taking a skill-first approach to thrive in an ever-evolving business landscape. Scope Industry: energy and utility Geography: global Contents In this report, we explore: Talent landscape’s evolution in the energy sector The need for focused skill-based talent programs in the energy sector Key challenges in implementing skill-based talent programs The future of energy sector The role of talent acquisition outsourcing providers to implement skill transformation Membership(s) Recruitment Contingent Staffing Contingent Workforce Management Sourcing and Vendor Management

Rewards and Recognition (R&R) programs are central to cultivating exceptional employee experiences, enhancing engagement, and driving organizational success. These programs have become essential in addressing employee dissatisfaction and intense talent competition by acknowledging achievements and fostering meaningful connections. R&R programs’ adoption, particularly by MNCs, reflects evolving buyer expectations. Buyers now demand AI-enabled automated processes and advanced analytics to reduce manual HR input while delivering strategic, data-driven insights to leadership. Additionally, the growth of emerging markets, such as the MEA and APAC, reflects an increasingly global focus on modern, scalable engagement strategies. Providers are responding with AI-driven tools focused on Diversity, Equity, and Inclusion (DEI), performance management, and skills intelligence. Sustainability is also taking center stage, with vendors emphasizing climate-conscious practices in their partnerships. Flexible reward options, including prepaid cards, experiential incentives, and charitable giving, continue to garner popularity. The industry is also witnessing a shift from reward-centric models rooted in manufacturing, procurement, and logistics to comprehensive solutions emphasizing technology and consulting. In this report, we analyze 28 leading R&R service providers featured on the Rewards and Recognition (R&R) Solutions PEAK Matrix® Assessment 2025. Each service provider profile features the provider’s key strengths and limitations to assist buyers in making sourcing decisions. Scope Geography: global Industry: all Service: R&R solutions This assessment is based on Everest Group’s annual RFI process for the calendar year 2025, interactions with leading R&R solution providers, client reference checks, and an ongoing analysis of the R&R market Contents Assess the R&R landscape Position providers on the Everest Group PEAK Matrix® for R&R solutions Compare providers’ strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

The shift from traditional fixed employment models to more agile, hybrid approaches that blend permanent and contingent workers. While freelancers, or Independent Contractors (ICs), comprise the largest segment of the contingent workforce, managing this workforce category has unique challenges. Some Vendor Management Systems (VMS), Human Resource Information Systems (HRIS), and Employer of Record (EOR) platforms address specific aspects of freelancer management. However, they focus less on freelancer/IC management and often fail to deliver comprehensive solutions. Freelancer Engagement and Management Systems (FEMS) are transformative platforms that manage the entire freelancer lifecycle, including onboarding, performance tracking, compliance, and payment processing. Moreover, modern FEMS include robust sourcing capabilities and advanced freelancer/IC management capabilities. By adopting modern FEMS platforms, organizations can ensure compliance, enhance operational efficiency, and unlock innovation in a rapidly changing talent landscape. Scope  All industries and geographies Contents  In this report, we examine:  Key challenges in freelancer/IC management How FEMS streamlines freelancer/IC management FEMS platforms’ evolution FEMS in the CWM technology ecosystem Membership(s) Contingent Workforce Management Recruitment Sourcing and Vendor Management

Post-pandemic, volatile business and talent demands have compelled organizations to rethink their workforce strategies while realizing the importance of a contingent workforce. This realization is driving the expansion of the Contingent Workforce Management (CWM) / Managed Service Provider (MSP) and Vendor Management System (VMS) markets. Despite the recent economic slowdown, CWM and VMS providers continue enhancing their service delivery capabilities and advancing process digitalization. MSPs and VMSs are significantly investing in enhancing their capabilities in managing non-traditional talent acquisition categories, including services procurement, independent contractors/freelancers, and direct sourcing. Simultaneously, providers are tailoring their offerings to address the unique needs of specific client segments, such as mid-market businesses and clients in the healthcare and blue-collar industries. They also leverage generative AI, advanced analytics, and automation to build comprehensive, end-to-end CWM solutions. In this report, we evaluate the global dynamics of CWM/MSP and VMS markets, highlighting regional variations, buyer adoption trends, technology trends, and solution trends. The report also explores the market’s future direction. Scope All industries and geographies Contents In this research, we examine: Economic trends influencing talent demands CWM/MSP and VMS market size and growth CWM/MSP and VMS markets’ geographical variations Buyer adoption trends Key trends shaping the CWM/MSP and VMS markets Providers’ key investment areas Membership(s) Contingent Workforce Management Sourcing and Vendor Management

Following post-pandemic growth, the global Recruitment Process Outsourcing (RPO) market sharply declined in late 2022, driven by macroeconomic factors, geopolitical tensions, and industrial instability. This slowdown continued into 2024, prompting workforce strategy realignments. The recruitment industry is being reshaped by shifting buyer expectations, a growing focus on comprehensive talent management, and the rising prominence of skills-based hiring. To meet increasingly strategic business needs, RPO providers are enhancing their capabilities and offering specialized services such as consulting, employer branding, market intelligence, internal mobility, and skills-based hiring solutions. As buyer preferences evolve and RPO engagements become more complex, providers are refining their technology ecosystems, introducing cutting-edge solutions in AI, automation, generative AI, and advanced analytics. In this report, we track developments across the RPO industry in 2023 and also examine the regional market dynamics, adoption characteristics, uncertainties associated with 2024, outlook for 2025, and future industry trends. Scope This report draws insights from active RPO deals in 2023 – across geographies, industries, and job families – that meet the following criteria: All industries Geographies: global, North America, EMEA, and Asia Pacific Third-party RPO deals, excluding shared services or global business services (GBS) Over 6,400 multi-process RPO deals active as of 2023, each involving a minimum of two recruitment processes Contents In this report, we examine: RPO market dynamics RPO adoption characteristics Key investment areas to keep up with the market 2024’s market uncertainties and outlook for 2025 Membership(s) Recruitment Sourcing and Vendor Management

Recruitment Process Outsourcing (RPO) is gaining worldwide adoption, driving the demand for regional expertise and consistent delivery across geographies. Amid volatile market conditions in 2023, enterprises sought flexibility, adaptability, and scalability from their RPO providers. Regional domain expertise, augmented by technology and a consultative approach, was key to delivering maximum value. Recruitment Process Outsourcing (RPO) – Service Provider Compendium 2024 offers detailed and fact-based snapshots of 36 RPO service providers. Each profile offers a comprehensive view of the provider’s service offerings, scale of operations, recent developments and investments, technology solutions, major clients served, and delivery locations. This compendium will enable providers to benchmark their capabilities against their peers, while buyers will be able to assess the providers based on their specific capabilities. Scope Industry: RPO Geography: Global Contents In this report, we examine 36 RPO providers profiles and include the following: RPO services suite and scale of operations: leadership, services suite, RPO delivery, RPO technology FTEs, major clients, and recent investments and developments RPO portfolio: RPO hires by geography, job family, buyer industry, and buyer size RPO technology and value-added offerings: partnership and proprietary capabilities in RPO-related technology and value-added offerings Global RPO locations: details of key locations worldwide Membership(s) Recruitment Sourcing and Vendor Management