More than 75 percent of executives at large North American and European companies that currently outsource one or more major human resources functions said they would do so again, according to a recent survey released by The Conference Board.
“HR Outsourcing: Benefits, Challenges and Trends” was The Conference Board’s second study tracking the changes in the HR marketplace. Based on the results of a survey of executives at more than 120 companies in North America and Europe with annual revenues of at least $1 billion, the new study found that outsourcing is now firmly embedded.
About 76 percent of respondents said their organizations currently outsource one or more major HR functions, and 80 percent of those said they would do so again. In addition, 71 percent said they will extend or renegotiate contracts with their current outsourcing providers and 29 percent said they will put their existing outsourced services out for a new bid. None said they plan to take the services back in-house.
In addition, 91 percent reported either having achieved or partially achieved their HR outsourcing objectives. Only 9 percent of respondents said they are entirely against outsourcing some or all of their major human resources functions, compared with 23 percent in the previous year’s survey.
The Conference Board, a not-for-profit organization, disseminates information about management and the marketplace. The study was sponsored by Accenture.
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