HR Benefits and Administration Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026

HR Benefits and Administration Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026

  • Published: Jun 2022
  • Pages: 120
  • SKU: IRCMSTR21012

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HR Benefits And Administration Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

The hr benefits and administration services procurement category is projected to grow at a CAGR of 5.45% during 2022-2026. The prices are outlined to rise by 3%-6% during the forecast period and suppliers will have moderate bargaining power in this market. Automatic Data Processing Inc., Aon plc, and Xerox Corp. are a few of the key suppliers in the hr benefits and administration services market.

HR Benefits and Administration Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth AnalysisHR Benefits and Administration Services Procurement - Sourcing and Intelligence Report on Price Trends and Spend & Growth Analysis

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Who are the Top Suppliers in the HR Benefits And Administration Services Market?

This report offers detailed insights and analysis of the major cost drivers, volume drivers, and innovations of the hr benefits and administration services procurement and sourcing market, which the global suppliers have been leveraging to gain a competitive edge across regions. Some of the leading hr benefits and administration services suppliers profiled extensively in this report include:

Top Suppliers in the HR Benefits and Administration Services Market

Furthermore, this hr benefits and administration services procurement market report provides a detailed analysis of procurement strategies deployed by major category end-users across several industries while sourcing for hr benefits and administration services requirements. In addition, the most adopted and high potential pricing models considered by buyers have been analyzed in this report, which will help understand business scopes for revenue expansion. These data will assist buyers to realize cost savings and identify business strategies to improve sales.

What are the Most Suitable Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA that Buyers Should Consider?

The hr benefits and administration services procurement market report provides a detailed analysis of various supplier selection criteria, RFX questions, supplier evaluation metrics, and the service level agreements that the buyers should consider adopting to achieve significant cost savings, streamline the procurement process, and reduce category TCO while sourcing for hr benefits and administration services requirements.

HR Benefits and Administration Services Market Supplier Selection Criteria, Supplier Evaluation Metrics, and SLA

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What are the Most Adopted Procurement Strategies by Buyers Across Industries?

The report provides a detailed insight into the most adopted procurement strategies by buyers across industries and an analysis of these strategies with respect to innovation, regulatory compliance, quality, supply, and cost. Adoption of these procurement strategies will enable the buyers to reduce category TCO and achieve cost savings while sourcing for hr benefits and administration services requirements.

What are the Major Pricing Models Adopted by Buyers in the HR Benefits And Administration Services Market?

The report discusses in detail each pricing model and the pros and cons attached to every pricing model prevalent in the market. Also, the report provides insights with respect to the category supply chain and the margins of various suppliers within the supply chain. These market analysis data will enable the buyers to make informed strategic sourcing decisions. Buy the full hr benefits and administration services procurement market report now to get comprehensive details on pricing models

Price Strategies and Benchmark

HR Benefits and Administration Services Procurement Pricing Model

Request for a FREE sample to access the latest price forecasts, market drivers, TCO reduction opportunities for hr benefits, and administration services market

To optimize the value of the purchase, it is crucial to keep a track of current and future price trends. Price forecasts are beneficial in purchase planning, especially when supplemented by the constant monitoring of price influencing factors. During the forecast period, the market expects an incremental spend of USD 2,813.12 million due to various market drivers prevalent across multiple regions. Also, the report speaks about various cost-saving factors through an analysis of the below factors:

  • Identify favorable opportunities in hr benefits and administration services TCO (total cost of ownership)
  • Expected changes in price forecast and factors driving the current and future price changes
  • Identify pricing models that offer the most rewarding opportunities

What will the Spend Growth and Demand be by Region?

The hr benefits and administration services market will register an incremental spend of about USD 2,813.12 million during the forecast period. However, only a few regions will drive the majority of this growth. Moreover, on the supply side, North America, Europe, and APAC will have the maximum influence owing to the supplier base. The growth is expected to be primarily driven by increasing demand and adoption of the category across those few regions. To get a detailed analysis of the volume drivers that are driving the adoption of the category across regions, buy the full report now!

The drivers and inhibitors that influence these global and regional outlooks are elaborated in detail in this procurement report. Our in-depth growth decomposition analysis covers details on:

  • Factors driving the growth (or lack of it) in individual geographies
  • Regions that hold the most rewarding opportunities for buyers and suppliers
  • Spend growth and regional spend segmentation over the coming years

HR Benefits and Administration Services Procurement Spend Growth Analysis

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What are the Major Category Management Objectives for HR Benefits And Administration Services Sourcing?

A targeted strategic approach to hr benefits and administration services sourcing will provide several opportunities. However, in the absence of actionable intelligence on hr benefits and administration services, buyers may end up focusing on a tactical sourcing strategy without any focus on cost-saving opportunities. Hence, this report focuses on category management initiatives such as supply assurance, cost savings, and adherence to regulatory nuances, which will assist buyers to formulate a strategic procurement strategy

The report explains the following key category management objectives that should form the base for sourcing strategy.

Category Management Objectives for HR Benefits and Administration Services Sourcing

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In addition to helping buyers in identifying the strategic goals and initiatives for category management, the report also has detailed insights into the most outsourced category management activities and category enablers which can simplify the procurement process for buyers.

Scope of HR Benefits And Administration Services

Report Specs

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Spend growth (CAGR)

5.45%

Incremental spend

USD 2,813.12 million

Pricing growth outlook

3%-6%

Pricing models

FTE-based pricing model, Transaction-based pricing model, and Outcome-based pricing model

Supplier selection scope

Understand the service delivery model, Regulatory compliance, Data security, and References to assess past records

Supplier opportunities

Reducing total ownership cost, Negotiate on pricing and contractual terms, Adoption of automation, Quality management, Manage ad hoc spend, Managing labor price volatility, Conference participation, Supplier synergies, and Reduction in ad-hoc spend

Supplier selection criteria

Business needs, Technical specifications, Operational requirements, Security compliance, Regulatory mandates, Pricing models, Change management procedures, SLA nuances, Working environment, Quality control, Penalty clauses, Acceptance criteria, and Evaluation criteria

Category management scope

Supply assurance, Cost savings, Adherence to regulatory nuances, Supply base rationalization, Reduction of TCO, Customer retention, Green initiatives, Top-line growth, Demand forecasting, and governance, Category innovations, Scalability of inputs, and Minimalization of ad hoc purchases

Top suppliers

Automatic Data Processing Inc., Aon plc, Xerox Corp., Willis Towers Watson Public Ltd. Co., Marsh & McLennan Companies Inc., Secova, Adecco Group, Ceridian HCM Holding Inc., International Business Machines Corp., and RSM International Ltd.

Market dynamics

Regional category spend in terms of percentage with respect to North America, South America, Europe, Middle East and Africa and APAC and global category spend and CAGR in terms of percentage over a span of 5 years.

Customization scope

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HR Benefits and Administration Services Procurement

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Executive Summary

    Market Insights

      Category Pricing Insights

        Cost-saving Opportunities

          Best Practices

            Category Ecosystem

              Category Management Strategy

                Category Management Enablers

                  Suppliers Selection

                    Suppliers under Coverage

                      US Market Insights

                        Category scope

                          Appendix

                            Research Framework

                            SpendEdge presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key category influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

                            INFORMATION SOURCES

                            Primary sources

                            • Procurement heads
                            • Category managers
                            • Sourcing consortium professionals
                            • Industry experts and thought leaders
                            • Procurement managers
                            • Category heads of suppliers
                            • Client account heads/managers
                            • Client and industry consultants

                            Secondary sources

                            • Industry journals and reports
                            • Periodicals and new articles
                            • Category webinars
                            • Internal categiry playbooks
                            • Industry and government websites on regulations and compliance
                            • Internal databases
                            • Industry blogs/thought leader briefings

                            DATA ANALYSIS

                            HR Benefits and Administration Services Sourcing and Procurement Report by Top Spending Regions and Market Price Trends - Forecast and Analysis 2022-2026
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                            The hr benefits and administration services procurement market will grow at a CAGR of about 5.15% during 2021-2025.
                            During 2021-2025, the hr benefits and administration services procurement market will register an incremental spend of about 2.16 $ billion.
                            Automatic Data Processing Inc., Aon plc, Xerox Corp., Willis Towers Watson Public Ltd. Co., Marsh & McLennan Companies Inc., Secova, Adecco Group, Ceridian HCM Holding Inc., International Business Machines Corp., and RSM International Ltd. are some of the prominent suppliers in hr benefits and administration services market.
                            Fte-based model, transaction-based model, and outcome-based model are the widely adopted pricing models in hr benefits and administration services procurement.
                            During the forecast period, the price for hr benefits and administration services procurement will increase by 3%-5%.