August 18, 2011: IDC International Data Corporation, the global research firm has published the latest report MarketSpace 2011 on leading vendors in the Human Resource (HR) Business Process Outsourcing (BPO).
The purpose of IDC MarketSpace vendor analysis model is to evaluate the performance of various vendors which provides service in the Human Resource BPO sector. Basically the firm reviews the current functioning as well as the technological advancement and incorporation of innovation by the service providers. The study covers evaluation of the service offered and strategies implemented.
Human Resource outsourcing plays a crucial role in the current scenario as it can deliver tangible benefits to the organization. The growth in this sector is very high and is expected to grow in the future also. It is not only the big companies who outsource in the present market, the mid- sized companies are also focusing on outsourcing. Acquiring resources and retaining them is a challenge for almost all the companies irrespective of the size and scale of operations. Innovative HR techniques and employee care is critical and firms see an increasing affinity towards outsourcing as a strategy to achieve this.
According to the report by IDC MarketSpace the leading vendors in the Human Resource outsourcing sector are the ADP, IBM, Accenture and NorthgateArinso. The assessment was made on the basis of market capabilities and competitive strategies. The other vendors included in the study were leading companies like Infosys and TCS. The main factors which have influenced the analyzers to choose these vendors as leaders were the innovative services and growth strategies of the company. Out of the number of major players in the sector, only four were selected and the selection was on the basis of the Human Resource service portfolio, reputation and strength. All these vendors were found to have strong domain knowledge and an excellent industry practice built up to serve the end to end HR management aspects of firms.
Report paints a positive picture about the increasing scope of HR outsourcing in India. Sustainable development is the key factor in which the vendors focus. Providing better service and cost savings are the factors influencing the report. The basic finding of the report is that there is enormous scope in the sector, provided the vendors focus on delivering highly innovative and quality services.