Following a strong post-pandemic recovery in 2021, the global Recruitment Process Outsourcing (RPO) market witnessed a healthy growth in 2022 across major geographies and industries. However, the pace of growth began to slow in the latter half of 2022 due to looming geopolitical and economic uncertainties. The subsequent shift in business priorities led to realignment in workforce strategies for most enterprises. This slowdown has persisted into 2023, indicating signs of contraction in the global RPO market.
Evolving buyer expectations and an increased focus on holistic talent management are reshaping the industry and the future of recruitment. This has prompted providers to enhance their capabilities to meet the expanding strategic needs of enterprises. They are also offering differentiated services such as consulting and advisory services, employer branding, peer and market intelligence, and internal mobility. Amid the increasing complexity of RPO engagements and evolving buyer preferences, 2022 experienced an increased focus from RPO providers on optimizing their technology ecosystem. They are now offering next-generation and emerging capabilities in AI, automation, and advanced analytics.
In this report, we track developments across the RPO industry in 2022. The report also examines the regional RPO market dynamics, adoption characteristics, uncertainties associated with 2023, and future industry trends.
This report draws insights from active RPO deals in 2022 – across geographies, industries, and job families – that meet the following criteria:
In this report, we examine: