HR outsourcing has been gaining traction in the outsourcing industry for nearly a decade. Today companies opt to outsource HR related activities to the experts in the area. According to recent report by Everest Group, the leading analysts and research firm, Multi-process HR outsourcing is expected to grow at a rate of 6% to reach US$ 3.3 billion in the year 2012. The common dilemma of the companies deciding on outsourcing HR activities is whether they need to outsource to single vendor or multiple vendor. This is because they become too concerned about the cost factor and the investments. Click here to read more aboutBenefits of TriNet Integrated HR Solutions
Indian Outsourcing Industry (ITO/BPO) top players include TCS, Infosys, Wipro & HCL technologies and these players gave contradicting growth forecasts for their companies wherein Tata Consultancy Services (TCS) and HCL Technologies, announced good growth in earnings for the quarter ended June 2012 and despite the challenging macro environment gave good growth forecasts for the year 2012 while Infosys and Wipro, announced not so great earnings for the quarter ended June and not so great growth forecasts for the year as both the companies are still struggling with internal restructuring and Infosys seeing budget cuts by their Clients.
Both Wipro & Infosys have seen major changes in the Leadership where in new CEOs took over and also saw significant changes in the internal organization structures and they are struggling to adapt to changing business environment. The global economic slowdown is a matter of concern for the IT industry, fall in volume growth and pricing, shortening of contracts and slow decision-making, geopolitics (since it is election year there are visa hurdles) and currency arbitrage particularly weakness in rupee are major concerns for the Indian Outsourcing industry.