Recognition and Rewards (R&R) are no longer limited to morale or engagement initiatives; they have become a core enterprise performance and transformation enabler. Strategic R&R programs connect behavioral data, performance outcomes, and skill insights to shape culture, enhance productivity, and improve retention. The Viewpoint covers how recognition is evolving from static, top-down models to agile, analytics-led systems that reinforce desired behaviors and link directly to business goals. It provides frameworks to design modern, skills-linked recognition ecosystems that integrate peer-to-peer participation, AI-based intelligence, and continuous feedback mechanisms. It also highlights how analytics enables organizations to measure recognition’s impact across retention, engagement, productivity, and capability-building. Furthermore, it highlights emerging trends and actionable recommendations to embed recognition within the enterprise, helping HR leaders translate strategy into daily action, cultivate high-performance cultures, and achieve measurable business impact.

Advances in new-age technology have expanded the ambit of MPHRO service providers to broaden their service delivery capabilities. With AI-enabled personalization and data-backed insights, providers are able to cater to the emerging buyer needs around enhancing talent acquisition and management strategies beyond just catering to transactional processes and regulatory compliance. Buyers are using this opportunity to enhance their talent management strategies centered around skills. In addition, as the market matures, new buyer segments are emerging, such as mid-market buyers and GCCs, as they seek external support to enhance HR processes at a reduced cost. Providers are enhancing their capabilities to gain first-mover advantage in this untapped buyer segment. The report will assist stakeholders (service providers, enterprises, and technology providers) to better understand the current state of the marketing service provider landscape.

Rewards and Recognition (R&R) programs are central to cultivating exceptional Employee Experiences (EX), enhancing engagement, and driving organizational success. By acknowledging achievements and fostering meaningful connections, these programs address employee dissatisfaction and intense talent competition. The widespread R&R program 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, emerging markets such as the MEA and APAC highlight an increasingly global focus on modern, scalable engagement strategies. Providers are responding with AI-driven tools focused on Diversity, Equity, and Inclusion (DE&I), performance management, and skills intelligence. Sustainability is also taking center stage, with providers emphasizing climate-conscious practices in their partnerships. Flexible reward options, including prepaid cards, experiential incentives, and charitable giving, continue to gain popularity. The industry is experiencing a shift from reward-centric models rooted in manufacturing, procurement, and logistics to comprehensive solutions emphasizing technology and consulting. In this report, we analyze the R&R solutions market and understand key growth drivers, buyer adoption trends, and investments made by providers.

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. The Rewards and Recognition Provider Compendium 2025 is a comprehensive resource that analyzes 28 leading R&R solution providers, offering detailed insights into their offerings and capabilities. The compendium combines information from interactions with technology providers and Everest Group’s proprietary intellectual property to create precise, fact-driven profiles. Each profile in the compendium comprises company overview, recent investments and developments, market adoption trends, client portfolio composition, and strategic partnerships. Furthermore, these profiles feature thorough solution capabilities, detailing recent key enhancements serving as a valuable tool for organizations to make informed decisions for talent management and core HR processes with data-backed evidence. Scope All industries and geographies Contents In this report, we evaluate 28 leading R&R solution providers. For each provider, we examine: Company overview and publicly made announcements R&R market segment focus by geography and buyer size served Solution details, recent enhancements, and a non-exhaustive list of integrations and partners R&R process coverage Market adoption, key clients served, and the client portfolio mix Memberships Human Resources Sourcing and Vendor Management

As the business landscape evolves, Chief Human Resources Officers (CHROs) face growing challenges. They must balance cost reduction with delivering a superior Employee Experience (EX). As AI becomes mainstream, CHROs must lead workforce transformation and mitigate risks. Beyond immediate operational demands, such as improving EX and refining talent management practices, they must drive long-term transformation by integrating data into HR and blending human and AI efforts. Multi-process Human Resources Outsourcing (MPHRO) providers are adapting their service delivery models by investing in AI technologies. AI enables them to deliver personalized services tailored to different employee needs. Providers are also expanding nearshore locations, shifting from cost-saving deals to transformation-focused solutions. In this report, we analyze the MPHRO services market, highlighting key growth drivers, buyer adoption trends, and provider investments. The report evaluates the MPHRO market, including emerging market trends and evolving solution characteristics. Scope All industries and geographies MPHRO deals, including a minimum of three HR processes Deals with a buyer employee size of 1,000 or more Contents In this report, we examine: Enterprise and CHRO priorities Buyers’ perspective of the market Key investment themes MPHRO market overview MPHRO solution characteristics Service provider landscape

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

Multi-process Human Resources Outsourcing (MPHRO) Services – Provider Compendium 2024 is a comprehensive resource that objectively analyzes 15 leading MPHRO service providers, providing detailed insights into their offerings and capabilities. The compendium combines information from interactions with service providers and Everest Group's proprietary intellectual property to create precise, fact-driven profiles. Each profile in the compendium outlines company mission/vision, key offerings and investments, portfolio mix, and MPHRO market segment focus, technology strategy, and a snapshot of clients. By leveraging primary data from providers and Everest Group's internal expertise, this in-depth analysis serves as a valuable tool for organizations that want information on key providers and their capabilities in the MPHRO market landscape. Scope MPHRO deals that include a minimum of three HR processes Deals involving buyer employee sizes of 1,000 or more All industries and geographies Contents In this report, we analyze 15 MPHRO service provider profiles and include: Service capabilities and strategies: company overview, key leadership, target market segment, MPHRO services suite, technology strategy, partnerships, key MPHRO-related developments, and MPHRO FTEs global spread Client portfolio: total number of clients, major MPHRO clients, recent MPHRO wins, revenue split by geography, industry, and buyer size Delivery locations: key delivery locations worldwide Sourcing considerations: providers’ performance assessment and key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

Enterprises grappled with challenges such as dealing with a multi-generational workforce, lack of skilled talent, and complex economic and geopolitical environments, making the year 2023 challenging for HR. Navigating these challenges requires scalability and agility. With investments in next-generation technologies such as AI/ML, automation, and generative AI becoming more mainstream, HR providers aim to provide superior productivity at a fraction of the cost required earlier. In this study, we evaluate 18 Multi-process Human Resource Outsourcing (MPHRO) providers and position them on the Everest Group PEAK Matrix® as Leaders, Major Contenders, and Aspirants. The research will be useful to both buyers and providers in assessing the MPHRO market landscape and supporting their strategic decision-making. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2024, interactions with leading MPHRO providers, client reference checks, and an ongoing analysis of the MPHRO market MPHRO deals that encompass a minimum of three HR processes The deals considered involve a buyer employee size of 1,000 or more Contents In this report, we examine: MPHRO provider landscape’s dynamics Providers based on their market impact vision and capability Everest Group’s PEAK Matrix® evaluation of MPHRO providers Top MPHRO providers across geographies and industries MPHRO providers’ key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

In the current business environment marked by talent shortages and economic uncertainties, Recognition and Rewards (R&R) solutions play a vital role in enhancing employee engagement and productivity. Additionally, with the need to attract and retain top talent, several companies are turning to R&R solutions to foster a culture of appreciation and recognition throughout their organization. Despite being a non-revenue-generating investment, focusing on employee experience can create value in numerous tangible and intangible ways for an enterprise, nurturing a positive workplace culture, enhancing employee motivation, and driving performance. The R&R market is growing, with a wide range of solution providers offering Software-as-a-Service (SaaS)-based platforms that can be configured and integrated with collaborative tools, Human Resource Information Systems (HRIS), and other platforms to meet each client’s unique needs. With providers investing in next-generation technologies to measure and analyze the impact of their R&R programs, companies can transition to a more data-driven and performance-based approach to employee recognition. In this report, we analyze the R&R solutions market, understand the key growth drivers, buyer adoption trends, and investments made by providers. Scope  All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading R&R solutions providers, client reference checks, and an ongoing analysis of the R&R solutions market Contents In this report, we analyze: The R&R market landscape, including market size, trends, and use cases Buyers’ take on the R&R market  The provider landscape Key investment themes in the R&R market and outlook for market stakeholders Membership(s) Human Resources Sourcing and Vendor Management

In the current landscape marked by volatility, uncertainty, complexity, and ambiguity, enterprises are consistently seeking ways to optimize operational efficiency. Challenges such as talent scarcity, inflation, economic instability, and geopolitical uncertainties have intensified interest in outsourcing HR functions. The drive toward digital transformation, an increasing number of organizations exploring outsourcing for the first time, and a growing demand for cutting-edge technology and sophisticated HR outsourcing solutions from established providers are expected to drive market growth. To meet these evolving demands and act as orchestrators for their clients, providers are enhancing capabilities by cultivating domain-specific expertise, adopting a design-oriented approach, developing transformation frameworks, and offering next-generation solutions with automation and analytics. They are also forming strategic technological and consulting partnerships. In this report, we analyze the Multi-process Human Resources Outsourcing (MPHRO) services market, focusing on key growth drivers, buyer adoption trends, and provider investments. The report provides a comprehensive overview of the MPHRO market and analyzes it across dimensions such market overview and evolving solution characteristics. Scope: All industries and geographies MPHRO deals including a minimum of three HR processes Deals with a buyer employee size of 1,000 or more The analysis is based on Everest Group’s annual RFI process for the calendar year 2023 (refer to report MPHRO Services PEAK Matrix® Assessment 2023 for detailed assessment of providers), interactions with leading MPHRO providers, client reference checks, and an ongoing analysis of the market Contents: In this report, we examine: Key demand trends in the MPHRO market Solution characteristics Provider landscape Membership(s) Human Resources Sourcing and Vendor Management