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It may be a dirty word, especially in organisations with a strong labour union, yet HR outsourcing (HRO) is fast catching up.
It may be a dirty word, especially in organisations with a strong labour union, yet HR outsourcing (HRO) is fast catching up.
Especially, many Fortune 500 firms worldwide. No wonder, even though it's a niche market, HRO is now worth a good $20 billion globally and growing. And the good news for India is that nearly 50% of HRO business has an offshore component, so a lot of it is actually coming to us.
This is despite the fact that most of HRO market is concentrated in US and Europe. In fact, two-thirds of the market is still US-based, while Asia has only 4-5% of the buyers. The rest are in Europe. "There are around 160 active deals around the world," says Gaurav Gupta, country head, Everest Group.
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