India Human Resource Outsourcing Market By Type (Payroll, Recruitment Process, Benefits Administration, Multi Process Human Resource, Learning Services, Others (Onboarding, Compliance Management, etc.)), By End User (IT & ITES, BFSI, Healthcare, Hospitality, Retail, Others (Manufacturing, Logistics, Education, etc.)), By Region, By Company, Forecast & Opportunities, 2018-2028F

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Report Description

Report Description

India Human Resource Outsourcing market was valued at USD94.36 million in 2022 and is projected to grow at a CAGR of 25.06% during the forecasted years, owing to the rising demand from growing sectors such as manufacturing, hospitality, information technology, etc. Moreover, human resource outsourcing helps businesses in cost saving as the need to hire a full-time employee for different human resource services is eliminated.

 

Human resource outsourcing is a process by which the employer assigns an external provider who handles duties regarding human resource for the business. The benefit of outsourcing is getting counsel and knowledge that a small or mid-sized business may not otherwise get from a small or one-person HR department. Employing an outsourced accounting firm can give business owners the assurance that they are in compliance when they hire and terminate personnel. Employment regulations are extensive and constantly changing which is where outsourcing may result in cost savings overpaying a full-time employee's wage, depending on the business and the situation.

 

The market is undergoing a significant change within the industry as different HR outsourcing companies are not only getting engaged in creating a platform for candidates for job openings, where a particular candidate can upload their resume for the purpose of selective profiling, but they are also focused on finding the desired candidate for their client through their tie-ups. Therefore, the industry is anticipated to further influence the India HR Outsourcing market with the dual appealing index for both the employees and employers.

 

Cost Saving Options are Driving Market Expansion

The corporation pays the HR executives an annual salary for work that may be outsourced to third-party businesses and is only required six or seven times each year. As a result, many businesses are focusing on HR outsourcing, which would help them cut costs even further, while also fulfilling a variety of organizational tasks, such as offering intensive training in accordance with their needs, lightening their burden, and lowering overhead expenses. Additionally, outsourcing assures consistency in the provision of services as they have better knowledge and experience regarding outsourcing and other related services. It also reduces the likelihood of compliance fines and avoids the costs of obtaining, implementing, and deploying expensive HR technologies, enabling small firms to concentrate their financial resources on their core services and products.

Emerging Demand from Various Sectors Fueling the Market Growth

The demand for professional personnel with specialized technical capabilities in industries like hospitality, manufacturing, and information & technology, is driving the market for India human resource outsourcing as a result of India's significant diversification of industries. Additionally, according to a report, estimated employment in the manufacturing sector in India in 2018-19 was 61.2 million and it further increased to 62.4 million in 2019-20. These industries may not be able to support a complete HR staff, and thus, in order to save time and money, they employ HR outsourcing services. A professional company with experience in the industry is often efficient in handling all the HR outsourcing services, including payroll compliance, benefit administration, employee evaluation, and adherence to labor rules and regulations.

Adoption of Artificial Intelligence Accelerating the Market Growth

Leaders in the HR outsourcing sector have already integrated AI technologies into their product offerings, with success. Recruiters can now focus on more crucial activities by doing high volume tasks more easily, thanks to AI. AI chatbots are becoming more popular in the employment process over time. For instance, chatbots are used to find and communicate with the candidates of the highest potential. The newly hired employees are managed by these automated chatbots, who give them jobs and positions in accordance with their job profiles. It selects the most qualified candidate who best fits the job description. The top applicants are thereafter scheduled for job interviews.


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Market Segmentation

The India human resource outsourcing market is segmented on the basis of type, end user and region. Based on type, the market is segmented into payroll, recruitment process, benefits administration, multi process human resource, learning services and others (Onboarding, Compliance Management, etc.). Further, based on end user, the market is fragmented into IT & ITES, BFSI, healthcare, hospitality, retail, and others (manufacturing, logistics, education, etc.).

Company Profiles

Randstad India Private Limited, Adecco India Private Limited, ManpowerGroup Services India Private Limited, TeamLease Services Limited, Innovsource Services Pvt. Ltd., Quess Corp Limited, PERSOLKELLY India Private Limited, Careernet Technologies Pvt. Ltd., ABC Consultants Pvt Ltd., are among the top players operating in the India human resource outsourcing market.

Attribute

Details

Market Size Value in 2022

USD94.36 million

Revenue Forecast in 2028

USD347.75 million

Growth Rate

25.06%

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2021 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

Type

End User

Region

Company

Regional Scope

South India, North India, West India, East India

Key Companies Profiled

Randstad India Private Limited, Adecco India Private Limited, ManpowerGroup Services India Private Limited, TeamLease Services Limited, Innovsource Services Pvt. Ltd., Quess Corp Limited, PERSOLKELLY India Private Limited, Careernet Technologies Pvt. Ltd., ABC Consultants Pvt Ltd. and others.

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

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Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

 

 

Report Scope:

In this report, India Human Resource Outsourcing Market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

·         India Human Resource Outsourcing Market, By Type:

o   Payroll

o   Recruitment Process

o   Benefits Administration

o   Multi Process Human Resource

o   Learning Services

o   Others

·         India Human Resource Outsourcing Market, By End User:

o   IT & ITES

o   BFSI

o   Healthcare

o   Hospitality

o   Retail

o   Others

·         India Human Resource Outsourcing Market, By Region:

o   South India

o   North India

o   West India

o   East India

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in India Human Resource Outsourcing Market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information:

  • Detailed analysis and profiling of additional market players (up to five).
Table of content

Table of content

1.    Introduction

1.1.  Market Overview

1.2.  Key Highlights of the Report

1.3.  Market Coverage

1.4.  Market Segments Covered

1.5.  Research Tenure Considered

2.    Research Methodology

2.1.  Objective of the Study

2.2.  Baseline Methodology

2.3.  Key Industry Partners

2.4.  Major Association and Secondary Sources

2.5.  Data Triangulation & Validation

2.6.  Assumptions and Limitations

3.    Executive Summary         

3.1.  Market Overview

3.2.  Market Forecast

3.3.  Key Regions

3.4.  Key Segments

4.    Voice of Customer Analysis (B2C Model Analysis)

4.1.  Factors Affecting Outsourcing Decision

4.2.  Satisfaction Level

5.    India Human Resource Outsourcing Market Outlook

5.1.  Market Size & Forecast

5.1.1.     By Value          

5.2.  Market Share & Forecast

5.2.1.     By Type Market Share Analysis (Payroll, Recruitment Process, Benefits Administration, Multi Process Human Resource, Learning Services and Others (Onboarding, Compliance Management, etc.))

5.2.2.     By End User Market Share Analysis (IT & ITES, BFSI, Healthcare, Hospitality, Retail and Others (Manufacturing, Logistics, Education, etc.))

5.2.3.     By Regional Market Share Analysis

5.2.3.1.         North Region Market Analysis

5.2.3.2.         South Region Market Analysis

5.2.3.3.         East Region Market Analysis

5.2.3.4.         West Region Market Analysis

5.2.4.     By Company Market Share Analysis (2022)

5.3.  India Human Resource Outsourcing Market Mapping & Opportunity Assessment

5.3.1.     By Type Market Mapping & Opportunity Assessment

5.3.2.     By End User Market Mapping & Opportunity Assessment

5.3.3.     By Regional Market Mapping & Opportunity Assessment

6.    India Payroll Outsourcing Market Outlook

6.1.  Market Size & Forecast

6.1.1.     By Value          

6.2.  Market Share & Forecast

6.2.1.     By End User Market Share Analysis

6.2.2.     By Region Market Share Analysis

7.    India Recruitment Process Outsourcing Market Outlook

7.1.  Market Size & Forecast

7.1.1.     By Value          

7.2.  Market Share & Forecast

7.2.1.     By End User Market Share Analysis

7.2.2.     By Region Market Share Analysis

8.    India Benefits Administration Outsourcing Market Outlook

8.1.  Market Size & Forecast

8.1.1.     By Value          

8.2.  Market Share & Forecast

8.2.1.     By End User Market Share Analysis

8.2.2.     By Region Market Share Analysis

9.    India Multi Process Outsourcing Market Outlook

9.1.  Market Size & Forecast

9.1.1.     By Value          

9.2.  Market Share & Forecast

9.2.1.     By End User Market Share Analysis

9.2.2.     By Region Market Share Analysis

10.  India Learning Services Outsourcing Market Outlook

10.1.              Market Size & Forecast

10.1.1.  By Value          

10.2.              Market Share & Forecast

10.2.1.  By End User Market Share Analysis

10.2.2.  By Region Market Share Analysis

11.  Market Dynamics

11.1.              Drivers

11.2.              Challenges

12.  Market Trends & Developments

13.  SWOT Analysis

13.1.              Strength

13.2.              Weakness

13.3.              Opportunities

13.4.              Threats

14.  Porter’s Five Forces Model

14.1.              Competition Landscape

14.2.              Buyer Power

14.3.              Supplier Power

14.4.              Threat of New Entrants

14.5.              Threat of Substitutes

15.  Policy & Regulatory Landscape

16.  India Economic Profile

17.  Competitive Landscape

17.1.              Company Profiles

17.1.1.  Randstad India Private Limited

17.1.1.1.      Company Details

17.1.1.2.      Products & Services

17.1.1.3.      Financial (As Reported)

17.1.1.4.      Key Market Focus & Geographical Presence

17.1.1.5.      Recent Development

17.1.1.6.      Key Management Personnel

17.1.2.  Adecco India Private Limited

17.1.2.1.      Company Details

17.1.2.2.      Products & Services

17.1.2.3.      Financial (As Reported)

17.1.2.4.      Key Market Focus & Geographical Presence

17.1.2.5.      Recent Development

17.1.2.6.      Key Management Personnel

17.1.3.  ManpowerGroup Services India Private Limited

17.1.3.1.      Company Details

17.1.3.2.      Products & Services

17.1.3.3.      Financial (As Reported)

17.1.3.4.      Key Market Focus & Geographical Presence

17.1.3.5.      Recent Development

17.1.3.6.      Key Management Personnel

17.1.4.  TeamLease Services Limited

17.1.4.1.      Company Details

17.1.4.2.      Products & Services

17.1.4.3.      Financial (As Reported)

17.1.4.4.      Key Market Focus & Geographical Presence

17.1.4.5.      Recent Development

17.1.4.6.      Key Management Personnel

17.1.5.  Innovsource Services Pvt. Ltd.

17.1.5.1.      Company Details

17.1.5.2.      Products & Services

17.1.5.3.      Financial (As Reported)

17.1.5.4.      Key Market Focus & Geographical Presence

17.1.5.5.      Recent Development

17.1.5.6.      Key Management Personnel

17.1.6.  Quess Corp Limited

17.1.6.1.      Company Details

17.1.6.2.      Products & Services

17.1.6.3.      Financial (As Reported)

17.1.6.4.      Key Market Focus & Geographical Presence

17.1.6.5.      Recent Development

17.1.6.6.      Key Management Personnel

17.1.7.  PERSOLKELLY India Private Limited

17.1.7.1.      Company Details

17.1.7.2.      Products & Services

17.1.7.3.      Financial (As Reported)

17.1.7.4.      Key Market Focus & Geographical Presence

17.1.7.5.      Recent Development

17.1.7.6.      Key Management Personnel

17.1.8.  Careernet Technologies Pvt. Ltd.

17.1.8.1.      Company Details

17.1.8.2.      Products & Services

17.1.8.3.      Financial (As Reported)

17.1.8.4.      Key Market Focus & Geographical Presence

17.1.8.5.      Recent Development

17.1.8.6.      Key Management Personnel

17.1.9.  Gretis India Pvt. Ltd.

17.1.9.1.      Company Details

17.1.9.2.      Products & Services

17.1.9.3.      Financial (As Reported)

17.1.9.4.      Key Market Focus & Geographical Presence

17.1.9.5.      Recent Development

17.1.9.6.      Key Management Personnel

17.1.10.                ABC Consultants Pvt Ltd.

17.1.10.1.    Company Details

17.1.10.2.    Products & Services

17.1.10.3.    Financial (As Reported)

17.1.10.4.    Key Market Focus & Geographical Presence

17.1.10.5.    Recent Development

17.1.10.6.    Key Management Personnel

18.  Strategic Recommendations

19.  About Us & Disclaimer

Figures and Tables

Figure 1:  India Human Resource Outsourcing Market Size, By Value (USD Million), 2018-2028F

Figure 2:  India Human Resource Outsourcing Market Share, By Type, By Value, 2018-2028F

Figure 3:  India Human Resource Outsourcing Market Share, By End User, By Value, 2018-2028F

Figure 4:  India Human Resource Outsourcing Market Share, By Region, By Value, 2022 & 2028F

Figure 5:  India Human Resource Outsourcing Market Share, By Company, By Value, 2022

Figure 6:  India Human Resource Outsourcing Market Map, By Type, Market Size (USD Million) & Growth Rate (%), 2022

Figure 7:  India Human Resource Outsourcing Market Map, By End User, Market Size (USD Million) & Growth Rate (%), 2022

Figure 8:  India Human Resource Outsourcing Market Map, By Region, Market Size (USD Million) & Growth Rate (%), 2022

Figure 9:  India Payroll Outsourcing Market Size, By Value (USD Million), 2018-2028F

Figure 10: India Manufacturing Industry, Value Added (% of GDP), 2017-2021

Figure 11:  India Payroll Outsourcing Market Share, By End User, By Value, 2018-2028F

Figure 12:  India Payroll Outsourcing Market Share, By Region, By Value, 2018-2028F

Figure 13:  India Recruitment Process Outsourcing Market Size, By Value (USD Million), 2018-2028F

Figure 14:  India Recruitment Process Outsourcing Market Share, By End User, By Value, 2018-2028F

Figure 15:  India Recruitment Process Outsourcing Market Share, By Region, By Value, 2018-2028F

Figure 16:  India Benefits Administration Outsourcing Market Size, By Value (USD Million), 2018-2028F

Figure 17:  India Labor Force Population (In Million), 2017-2021

Figure 18:  India Benefits Administration Outsourcing Market Share, By End User, By Value, 2018-2028F

Figure 19:  India Benefits Administration Outsourcing Market Share, By Region, By Value, 2018-2028F

Figure 20: India Multi Process Human Resource Outsourcing Market Size, By Value (USD Million), 2018-2028F

Figure 21:  India Services, Value Added (% of GDP), 2017-2021

Figure 22:  India Multi Process Human Resource Outsourcing Market Share, By End User, By Value, 2018-2028F

Figure 23:  India Multi Process Human Resource Outsourcing Market Share, By Region, By Value, 2018-2028F

Figure 24:  India Learning Services Outsourcing Market Size, By Value (USD Million), 2018-2028F

Figure 25:  India Learning Services Outsourcing Market Share, By End User, By Value, 2018-2028F

Figure 26: India Learning Services Outsourcing Market Share, By Region, By Value, 2018-2028F 

List of Tables

Table 1:  India Human Resource Outsourcing Market Size, By Type, By Value (USD Million), 2018-2028F

Table 2:  India Human Resource Outsourcing Market Size, By End User, By Value (USD Million), 2018-2028F

Table 3:  India Payroll Outsourcing Market Size, By End User, By Value (USD Million), 2018-2028F

Table 4:  India Recruitment Process Outsourcing Market Size, By End User, By Value (USD Million), 2018-2028F

Table 5:  India Benefits Administration Outsourcing Market Size, By End User, By Value (USD Million), 2018-2028F

Table 6:  India Multi Process Human Resource Outsourcing Market Size, By End User, By Value (USD Million), 2018-2028F

Table 7:  India Learning Services Outsourcing Market Size, By End User, By Value (USD Million), 2018-2028F
Frequently asked questions

Frequently asked questions

In terms of type, the India human resource outsourcing market is segmented into payroll, recruitment process, benefits administration, multi process human resource, learning services, and others. In 2022, approximately 36.63% of the market share was covered by payroll, owing to the rising preference by businesses to outsource their payroll services.

In terms of region, the market is segmented into South India, North India, East India, and West India. In 2022, around 37.18% of the total market share was covered by South India owing to the presence of different industries in the region.

In terms of end user, the market is segmented into IT & ITES, BFSI, healthcare, hospitality, retail, and others. IT & ITES has covered around 37.01% of the market owing to the growth in the information technology sector in the country. Moreover, many of the small firms are starting businesses in the IT sector which are in need of human resource outsourcing as it helps them to save resources and focus on their core competence.

Randstad India Private Limited, Adecco India Private Limited, ManpowerGroup Services India Private Limited, TeamLease Services Limited, Innovsource Services Pvt. Ltd., Quess Corp Limited, PERSOLKELLY India Private Limited, Careernet Technologies Pvt. Ltd., ABC Consultants Pvt Ltd. are offering human resource outsourcing in India.

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