Global Human Resources Consulting To Record Considerable Opportunity Assessment Through Forecast Period : Fact.MR

The human resources (HR) consulting market refers to the industry of consulting firms that provide advice and services to organizations related to human resource management. This can include areas such as recruitment, performance management, compliance with labor laws, employee benefits, and succession planning. The market for HR consulting services is generally considered to be a large and growing industry, as more and more organizations look for outside expertise in managing their human capital.

The market has increased significantly post-COVID. In 2021, the global market size of human resources consulting was around 12% of the total management consulting market. This is a modern way to channel the workforce of an organization to obtain higher employee efficiency.

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Segmentation of Human Resources Consulting Industry Survey

• By Service :
  • Human Capital Strategy
  • Compensation & Benefits
  • Organisational Change
  • Talent Management
  • Learning & Development
  • HR Function
  • HR Analytics
• By End-use Industry :
  • Consumer Markets
  • Energy and Natural Resources
  • Government & Public Services
  • Life Science & Healthcare
  • Media & Telecommunications
  • Technology
  • Others (not covered elsewhere)
• By Region :
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • MEA

Key Takeaways from Market Study

• The global human resources consulting services market is projected to expand at a steady CAGR of 5.2% and be valued at US$ 82 billion by 2032.
• The market exhibited 3.8% CAGR for the period of 2017-2021.
• Under service segment, compensation & benefits dominate the market with a share of 36%.
• North America led the global market with 41% share in 2021.
• Demand for HR consulting services is expected to increase at CAGRs of 5.1% and 6.2%, respectively, in Europe and East Asia.

Key Companies Profiled

• Accenture
• Aon Hewitt
• Automatic Data Processing, Inc.
• Bain & Company
• Boston Consulting Group
• Capgemini
• Deloitte
• Ernst & Young
• G. H. Smart & Company, LLC
• Huron
• Kaiser Associates
• Kearney
• Korn Ferry
• KPMG
• McKinsey & Company
• Mercer
• Milliman, Inc
• Oliver Wyman
• Paychex
• PwC
• Trinet

Market Development

The intensity of competition in the human resources consulting market is high with the presence of various established and new market players in the market. These market players are resorting to various organic & non-organic strategies to stay competitive in the market.

• In March 2020, Willis Towers Watson was acquired by Aon Plc.

Additionally, market players are taking rigorous action to enhance their consumer base by focusing on various industry verticals. They are are focusing on improving their services with integration of advanced technologies such as cloud computing, artificial intelligence, and machine learning.