Revenue in the global recruitment process outsourcing market rose 26% year over year in 2021 to $7.4 billion amid a strong market recovery following a depressed market in 2020, according to the “RPO Global Landscape Summary” report by Staffing Industry Analysts.
RPO is also this week’s Staffing Word of the Week. SIA’s free online Lexicon defines RPO as:
“A service segment of the process outsourcing industry (see definition), RPO is the partial or full outsourcing of the internal recruitment function to a third-party specialist provider, which serves to provide the necessary skills, activities, tools, technologies, related recruitment supply chain partners and process methodologies to assume the role of the client’s recruiting department by owning and managing its recruitment process and related recruitment supply chain partner relationships.”
A full definition can be found in the Lexicon, which is available free online.