Research by Grand View Research, Inc. reports that the global recruitment process outsourcing (RPO) market size will reach $20.8 billion by 2027 with a compound annual growth rate (CAGR) of 18.5%. This foreseen significant growth in the RPO market is attributed to the increasing demand for updated recruitment and hiring processes. The introduction of digital recruitment strategy is also expected to open opportunities in the hiring processes.
Technology is predicted to play a crucial part in improving the current recruitment process in the coming decade. HR automation and the use of artificial intelligence (AI) for talent sourcing and screening are among the gamechangers molding the future of RPO. Additionally, the use of data-driven tools, mobile application platforms, and social media marketing for recruitment make the hiring process simpler and more efficient.