The Rewards and Recognition (R&R) Outsourcing market has emerged as one of the fastest growing markets in the HRO space clocking a growth rate of ~14% between 2016-2017. With employee engagement and experience becoming increasingly important for enterprises, the market is witnessing an increasing demand for R&R services from buyers of all sizes. This demand is bolstered by emerging market challenges such as changing workforce demographics and a rapidly evolving technology landscape.
The market is dominated by specialist R&R providers who are now trying to expand their role from “just R&R program administrators” to that of strategic partners who can provide a gamut of services including consultative support (designing effective R&R programs), access to advanced technology solutions (such as advanced analytics, AI-based chatbots & decision support tools), and employee wellness & performance management services.
In this research, we analyze how the leading R&R providers stack up against each other on various dimensions. We focus on
This report examines the global Rewards and Recognition (R&R) outsourcing market and its service provider landscape. The R&R service providers are mapped on the Everest Group PEAK Matrix™, which is a composite index of a range of distinct metrics related to a provider’s vision & capability and market impact. It will assist key market stakeholders understand the current state of the Rewards and Recognition (R&R) outsourcing landscape.
The report presents key findings on the performance of different service provider categories. Additionally, it provides insights into the strengths and areas of improvements of each service provider.