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Framingham (pte041/24.03.2003/15:14) - The world market for human relations (HR) management services is growing steadily. Last year spending in this sector climbed 9.6 per cent to 61.2 bn dollars, as reported today by IDC market researchers http.//www.idc.com .
IDC forecasts yearly growth of 11 per cent until the year 2007. In four years the market for human relations management services is expected to be worth 103.3bn dollars.
"The possibilities for HR management services are manifold, especially in the field of HR business process outsourcing," said IDC analyst Marc Pramuk. For many companies, the outsourcing of HR processes has proved effective as a measure to save costs and increase productivity.
North America is likely to remain the biggest market within the next four years, followed by the EMEA region (Europe, Middle East and Africa). The largest growth spurt is expected to take place in the Asian-Pacific region, where the market has been slow up to now. IDC advises that a key factor to the success of these programmes is fast return on investment (ROI).
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