As the Neeyamo Team successfully delivered on complex global HRO deals, each with its own degree of complexity and challenges, we realized that there is a huge underserved segment– the mid-market companies. Companies with more than 2,500 and less than 15,000 employees represent a significant population of enterprises worldwide and have unique HRO needs. Despite the complexity, when done right, HRO brings benefits that are hard to ignore, especially in difficult economic times like these. As the bigger HR BPO players target mega-deals with large market companies ( > 15,000 employees ), and small market companies ( < 2,500 employees ) work with local providers, there is a supply gap for the often maligned and misunderstood middle-market.
In the midmarket segment, HRO is more of a "when" question, because companies want to focus on building businesses and not HR capabilities. Current HR processes at a company of this size leaves a lot to be desired as they deal with the challenge of whether to deploy capital improve to HR systems or invest in business growth.
- Dissatisfaction with internal HR processes
Mid-market companies often compete directly with much larger players for business, and need to have world-class HR processes that customers expect from the bigger players. Furthermore, compelling events such as a system upgrades or software renewal may drive a mid-market company to look outside for solutions. - Build vs. Buy
Large-scale buyers typically have spent millions in ERP systems and have settled on a HR platform. Mid-market companies are not interested in investing large capital dollars for acquiring an HR platform; instead, they would prefer to buy the services they need without having to build it themselves. - Focus on revenue, not administration
Mid-sized companies are typically focusing on rapid growth and generating revenues. Consequently, they have neither the time nor resources to focus on back office and administrative HR functions.
Given that HRO is a necessity, they find that traditional HRO providers do not fit the bill - either providers are too expensive or inflexible, because the spend is too small for the big providers to pay any attention.
Mid-market companies must ensure that their people and systems stay competitive. Clearly, they need an excellent provider of HRO services at a mid-market price and proposition, that can help build and sustain the advantage for them.
Welcome to Neeyamo, the provider powering mid-market HRO worldwide!