The Europe Contingent Workforce Management Market would witness market growth of 9.6% CAGR during the forecast period (2022-2028).
Business core HR system must be integrated with the technology and tools they use to manage their contingent workforce if they want to operate as a team to give their contingent workers a positive, consistent experience. Organizations will need to develop creative strategies to engage and entice contingent workers as this workforce sector expands. These strategies may include incentives in addition to bonuses, but it will be crucial always to offer enough assistance. Organizations must consider enhancing employee and contingent worker experiences while talent scarcity persists if they want to be competitive.
Nowadays, contingent employees or outsourcing are frequently utilized to do once-vital tasks (like IT, accounting, and admin). The outcome is a decrease in the core staff of a company and an increase in contingent labor. The standard HR life cycle is frequently skipped by contingent workers in businesses that use an "exclusive" strategy. This indicates that the HR procedures that have yet to be streamlined are utilized by them or the company they work for. Consider a system for swiftly onboarding personnel, managing and enhancing their performance, offboarding personnel, etc. Businesses that manage their contingent workforces in an "inclusive" manner incorporate their contingent employees in the HR cycle of the company.
Germany has a robust healthcare system, particularly regarding hospital beds, infrastructure, and skilled personnel. In Germany, the healthcare industry accounts for one in every six employees and has an economic impact of EUR 678.2 billion (USD 798 billion) or around 12% of Germany's GDP. HCT generates EUR 131.2 billion (USD 154.4 billion) in overseas sales, accounting for 8.3% of Germany's exports. The German medical equipment industry is predicted to grow at a CAGR of 5.1 percent in euro terms and 6.8 percent in US dollar terms from 2020 to 2025. This is expected to increase the utilization of contingent workforce management and drive market growth in the region.
The Germany market dominated the Europe Contingent Workforce Management Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $21,284 Billion by 2028. The UK market is anticipated to grow at a CAGR of 8.7% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 10.4% during (2022 - 2028).
Based on Type, the market is segmented into Flexible Staffing and Permanent Staffing. Based on Industry, the market is segmented into Healthcare, Retail Trade, Manufacturing & Automotive, BFSI, Government & Public Sector, Telecom & IT, Business/Professional Service, Pharma/biotech/medical equipment, Real Estate & Rental Leasing, Transportation & Logistics and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Contingent Workforce Management Market will Hit $325.7 Billion by 2028, at a CAGR of 10.1%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include SAP SE, Coupa Software, Inc., Ramco Systems Limited, Avature Limited, Beeline (New Mount Capital), The Bowen Group, CXC Global, Zeel Solutions Ltd., and Magnit (EQT AB).
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