HR outsourcing fastest growing segment
24 April, 2005
According to a newly released IDC study, worldwide HR service spending will experience a compound annual growth rate (CAGR) of 9.6% through 2009 to reach $113.4 billion, as compared to $71.9 billion in 2004. This study also identified HR business process outsourcing (BPO) as the fastest-growing segment of HR services and predicts that it will grow at a CAGR of 16.1% to reach over $16 billion in the U.S. by 2009. The IDC study, Worldwide and U.S. HR Management Services 2005-2009 Forecast (IDC #33028), examines the competitive landscape and provides a five-year forecast for the worldwide and U.S. markets for human resources management services, including discrete HR outsourcing, HR consulting, and full-service HR outsourcing. The study analyzes key factors influencing the timing and magnitude of opportunities in the worldwide and U.S. market for HR service providers, while offering essential guidance and recommended strategies.