Multi-Process Human Resources Outsourcing (MPHRO) Annual Report 2020 – Preparing for a Digitally Enabled Decade
The global Multi-process Human Resource Outsourcing (MPHRO) market grew at a healthy rate of ~5% during 2017-2019. This trend is expected to continue over the next two to three years, with the market breaching US$5 billion by 2021. The steady growth can be credited to mid-markets (especially from North America), along with Asia Pacific and Latin America.
The pressure to reduce costs, talent-related issues, and the need to improve employee experience continue to be key challenges in the HR ecosystem and play an important role in driving significant changes for both buyers and service providers. Evolving buyer objectives – which now revolve around increasing leverage of technologies such as automation, analytics, and the cloud – are aimed at overcoming precisely these challenges. Hence, service providers need to correspondingly evolve into becoming strategic partners and work closely with enterprises to meet their changing demands. They are thus investing heavily in building strong technological ecosystems through either partnerships or acquisitions, as well as expanding their capabilities to support judgment-intensive decision-making.
In this research, we analyze the MPHRO market across various dimensions:
- Buyer objectives and service provider initiatives
- Market overview and adoption trends
- Solution characteristics
- Service provider landscape
- Outlook for 2021
This report is available to members.