Business Services Lead the HR Sector in Growth

According to a report recently released by Software Advice (www.softwareadvice.com), business service providers like TriCore led the HR industry in revenue growth during the period 2008-2012. Other business models in the sector include Staffing and Recruiting firms, Management Consulting firms, HR Technology firms, and firms combining two or more of these models. Business Service Providers grew by nearly 60% during the period, while no other business model grew by as much as half that.

TriCore CEO Dave Fried says “This is really no surprise to us. You’re looking at a period in which many companies were struggling to survive, and they didn’t do that by increasing their spend on non-critical products and services; but business service providers who could show real cost savings, like TriCore, did well in this environment. The continuing good news for TriCore is that our services are in increasing demand due to the confusion surrounding the implementation of the Affordable Care Act and its impact on businesses of all sizes. We think that businesses like ours will grow even more rapidly during the next few years.”

To view the full report from Software Advice, go to: The HR Ecosystem: 2013 vs. 2008 IndustryView.