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Liz is HR Technology and Services Research Director at NelsonHall, with global responsibility for key HR research projects including Cloud-Based HR Transformation, Cloud-Based Benefits Services, HCM Technology, EoR, Global Payroll and The Future of HR, as part of NelsonHall's wider HR Technology & Services practice.
meet & followNikki is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. Nikki covers HR services research in the areas of Recruitment Process Outsourcing (RPO), Managed Service Programs (MSP), Total Talent, and Learning.
meet & followJeanine is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. She has global responsibility for key HR areas including employer of record (EOR) and learning platforms.
meet & followDeeAnna is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. She has global responsibility for key HR areas including HCM technology, workforce management, and health & welfare administration.
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Please visit NelsonHall's HRO Insight blog for further updates from our analysts daily
posted on Jan 20, 2017 by Gary Bragar
In NelsonHall’s recently published Payroll Services market analysis report, the payroll outsourcing market is forecast to grow from $17.4 bn in 2016 to $21.8 bn by 2020. Growth is across all regions, with the greatest growth coming from multi-country payroll contracts. The multi-country payroll market is growing at three times the rate of the overall market and represents ~15% of total standalone payroll services revenues.
Analysis of multi-country payroll contracts also finds that:
Multi-country growth is primarily driven by:
Approximately 75% of vendors included in NelsonHall’s market analysis are currently providing multi-country payroll, and continue to invest in this space. The average number of countries serviced is 14, and the average number of client employees being serviced is 7,000. Contracts signed in 2015/16 for multi-country payroll services included organizations with as few as 100 employees and as many as 50k client employees.
What can we expect in the future? NelsonHall predicts that multi-country payroll will grow at four times the rate of single country services to 2020, with a 23% share of the overall market, as the size and scope of contracts will continue to grow. Key trends include:
To find out about NelsonHall’s extensive research plans for HR outsourcing services in 2017, contact Guy Saunders.