| At this growth rate, the recruitment process outsourcing industry will be worth around $30 billion, according to Elixir Web Solutions, a 100 seater recruitment process outsourcing provider. |
| The high growth is possible because companies globally are witnessing an attrition rate of around 18 per cent, with figures for industries like call centres as high as 45 per cent. That would mean a fifth of the world's working population were taking a new job every year. |
| Keeping in mind the average global growth rate of the GDP at 4 per cent, 4 new jobs are added for every 100 every year. |
| As per estimates, 25 per cent of hiring happens through search firms, which means 10 per cent of the entire working population of the world gets a job every year by way of such agencies. |
| In most organisations, the recruitment process is assigned to the human resources department, which sources, assesses and interviews job aspirants. |
| Under the recruitment process outsourcing procedure, if an executive has a job opening in two companies, the recruiter can convince the aspirant to work for a particular company. It is often easier for companies to use third parties to recruit employees than to do it themselves. |
| A third party helps reduce the awkwardness a prospective employee might feel if considering a rival company as a future employer. |
| An effective recruitment process outsourcing arrangement involves standardised recruiting processes and platforms for workforce planning, applicant tracking, and workflow. |
| By specialising, a recruitment process outsourcing firm can invest in the most efficient technology, processes and also reap scale advantages in relationships. |
| Recruitment services are beneficial in human resources management for business process outsourcing firms and are driving the growth of the market. |
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