The rising number of European companies offering Human Resources Outsourcing (HRO) services with attractive service bundles and competitive price points are stealing market share away from HRO suppliers in the United States and elsewhere, according to an Everest Research Institute study of the European HRO market. Since 2005, European HR outsourcing suppliers have gained 10 percent of the global market, currently hold 30 percent of it, and these numbers will likely continue to increase to meet rising demand in a market that hasn’t been significantly penetrated, according to Institute analysts. The Institute will hold a Webinar, European HRO Market: A Laggard or an Emerging Frontier?, on May 14 at 9 a.m. CDT to present study findings and insights. While the global market continues to grow at a decelerated rate (15 percent CAGR from 2006-2007 compared to 22 percent from 2003-2005) and the overall number of transactions declined from 2006 to 2007, most of the global transactions occurred in Europe, a strong indicator of buyer maturity, according to Everest’sPan-European HRO Marketreport. Annual revenues for HRO transactions originating in Europe reached almost US $750 million in 2007.
