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

The Multi-process Human Resources Outsourcing (MPHRO) Service Provider Compendium 2023 is a companion to Everest Group’s MPHRO Services Provider Landscape with PEAK Matrix® Assessment. The report provides comprehensive and fact-based snapshots of 17 MPHRO service providers. Each provider profile includes the provider’s delivery capabilities, market strategies, key organizational developments, delivery footprint, and client portfolio by services in scope, industry, and buyer size. It also specifies the provider’s position on Everest Group’s PEAK Matrix®. The report will enable buyers and potential buyers of MPHRO services to assess the providers on their desired set of capabilities, while providers will be able to benchmark their strengths and limitations against their peers. 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 17 MPHRO service provider profiles and include: Service capability and strategy – company overview, Human Resource Outsourcing (HRO) 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, deals 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

In today’s Volatile, Uncertain, Complex, and Ambiguous (VUCA) world, organizations are constantly seeking ways to optimize their operations and enhance their overall efficiency. Ongoing talent shortage, surging inflation, a recessionary environment, and geopolitical instability, coupled with the volatility that the pandemic has caused, have increased enterprises’ openness to leveraging third-party provider support for their HR function. The drive for digital transformation, increasing numbers of first-time outsourcers, and rising demand for next-generation technology and high-end Human Resource Outsourcing (HRO) work from mature outsourcers are expected to continue driving market growth in 2023. In this report, we analyze 17 providers on the Everest Group PEAK Matrix® for Multi-Process Human Resource Outsourcing (MPHRO) Services and categorize them as Leaders, Major Contenders, and Aspirants. The research will help providers benchmark their capabilities against competitors, while buyers will be able to evaluate the different providers based on their sourcing needs. Scope All industries and geographies The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, 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: The dynamics of the MPHRO service provider landscape A deep-dive analysis of providers based on their market impact and vision and capability Everest Group’s PEAK Matrix® evaluation of MPHRO service providers Top MPHRO service providers across geographies and industries MPHRO service 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, Rewards and Recognition (R&R) solutions actively enhance employee engagement and productivity. Many companies recognize the importance of attracting and retaining top talent and improving employee engagement, prompting them to adopt R&R solutions to foster a culture of appreciation and recognition across the organization. Despite being a non-revenue-generating investment, prioritizing employee experience delivers tangible and intangible benefits for enterprises. It not only helps attract and retain top talent but also cultivates a positive workplace culture, boosts employee motivation, and drives performance. The market for R&R solutions is highly competitive, with numerous providers offering solutions at varying levels of sophistication and pricing models. The market is also undergoing consolidation, as larger companies acquire smaller participants to expand their market presence. The Rewards and Recognition (R&R) Solutions – Provider Compendium is a companion to Everest Group’s latest study, Rewards and Recognition (R&R) Solutions PEAK Matrix® Assessment 2023. In this research, we provide comprehensive and detailed profiles of 26 R&R solutions providers, covering the providers’ company overview, key clients and partnerships, product capabilities, and key developments. In addition, each provider is also positioned on Everest Group’s PEAK Matrix® for comparison. The compendium will enable providers to benchmark their capabilities against their peers, while buyers will be able to assess the providers based on their desired set of capabilities. Scope: 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 All industries and geographies Contents: In this report, we evaluate R&R solutions providers on their: Company overview Recent investments and announcements Market adoption and capabilities Client portfolio mix Partnerships Solution capabilities and key enhancements Process coverage Key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management

In the current business environment marked by talent shortages and economic uncertainties, Rewards and Recognition (R&R) solutions play a pivotal role in enhancing employee engagement and productivity. With the need to attract and retain top talent and improve employee engagement, 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 terms of numerous tangible and intangible benefits for enterprises. It helps not only attract and retain top talent but also fosters a positive workplace culture, enhances employee motivation, and drives performance. The R&R market is growing at a fast pace and gaining a lot of traction in the overall HR ecosystem. This segment has seen the presence of a number of solution providers offering wide-ranging reward catalogs, redemption services, and robust SaaS-based platforms that are configurable and can be integrated with collaborative tools, HRIS systems, and other platforms to meet the unique needs of each client. With service 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. This research assesses 26 leading R&R service providers featured on the Rewards and Recognition (R&R) Solutions PEAK Matrix® Assessment 2023. Each service provider profile features the provider’s key strengths and limitations to assist buyers in making sourcing decisions. Scope The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading R&R providers, client reference checks, and ongoing analysis of the R&R solutions market Industry: all Geography: global Contents In this research, we analyze: The relative positioning of 26 vendors on the Everest Group PEAK Matrix® for R&R solutions Key strengths and limitations of the service providers Membership(s) Human Resources Sourcing and Vendor Management

The global Multi-process Human Resources Outsourcing (MPHRO) market has recovered from a short-term disruption caused by the pandemic and is likely to grow in the future because of an increased push for large-scale digital transformation among enterprises, the need to support hybrid working models in the next normal, and a focus on the overall employee experience. Additionally, traditional outsourcing drivers – including the need for cost takeout, transaction volume management, and domain expertise – continue to spur growth. Due to the ongoing talent shortage, there is a push to develop skills and have a future-ready workforce. Buyers are looking for more end-to-end HR outsourcing deals, that include talent acquisition and development, keeping employee experience at the core. Providers are continuing to make investments in next-generation technologies, automation, and analytics, and are also adding an experience layer to their products to provide a seamless, integrated experience to users. This study provides a comprehensive overview of the MPHRO market and analyzes it across dimensions such as buyer adoption drivers, market overview, and evolving solution characteristics. Scope: MPHRO deals in which a minimum of three HR processes are included Deals in which the buyer employee size is 1,000 or more All geographies and industries Contents: In this report, we study: Key demand trends in the MPHRO market Solution characteristics Provider landscape Future outlook Membership(s) Human Resources Sourcing and Vendor Management