New Economy, New Reality: Driving Out Costs in the HR Function
(10/1/2002) CFO Project Volume 1
By Mike Friend, IDC
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Human resources business process outsourcing (HR BPO) involves arrangements
in which an external service provider manages HR-related processes or even the
entire HR function. This document explores the business concept behind HR outsourcing
and how companies are challenging their sourcing strategies in order to face
today’s tough business pressures.
While the new economy may not have delivered on everyone’s expectations, in many respects it has had a significant impact on refocusing the debate on the importance of business fundamentals and the application of new technologies (Web-based and otherwise) to the efficient management of business processes. The product of this debate in Europe has been renewed interest in the core/noncore debate and the role of business process outsourcing (BPO) in bringing about the unfolding of vertically integrated public and private organizations into more specialized companies that go to market and add value as part of a larger network of collaborating organizations.
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