Global Hr Advisory Services Market Size 2024, Forecast To 2033
11 Mar, 2024
The HR advisory services market has experienced steady growth, expanding from $157.54 billion in 2023 to $162.81 billion in 2024, reflecting a compound annual growth rate (CAGR) of 3.3%. The historic period's growth is attributed to strong economic expansion in emerging markets, increased mergers and acquisitions, globalization, and a rise in research and development (R&D) investments. Expected to maintain its steady growth, the market is forecasted to reach $186.81 billion in 2028, maintaining a CAGR of 3.5%. Growth in the forecast period can be attributed to data analytics and AI, rising urbanization, technological advancements, and an increasing focus on customer satisfaction. Major trends in the forecast period involve a continued emphasis on data analytics and AI, rising urbanization, technological advancements, and an increased focus on customer satisfaction.
Global HR Advisory Services Market Key Driver
The growth of the HR advisory services market is significantly propelled by the adoption of data-driven tools and analytics for employee engagement. Employee engagement, fostering optimal conditions for workforce performance aligned with company values and well-being, is crucial. Human resource professionals are increasingly relying on data analytics and artificial intelligence to inform strategic decisions. Notably, companies like Genpact employ sophisticated analytics to discern patterns related to employee departure, using predictive analytics to identify high-risk employees for voluntary attrition. The continued advancement of data-driven tools and analytics is poised to be a driving force behind the expansion of the HR advisory services market, with its market size reflecting this trend in 2023 and anticipated growth in 2024 and 2028.
Get A Free Sample Of The Global HR Advisory Services Market ReportGlobal HR Advisory Services Market Segments
The hr advisory services market covered in this report is segmented –
1) By Type: Compensation Consulting, Benefits Consulting, Actuarial Consulting, Strategic and Other Consulting
2) By Service: Integration & Deployment, Support & Maintenance, Training & Consulting
3) By End-User: IT Services, Manufacturing, Financial Services, Mining and Oil & Gas, Construction, Other Services, Others
By Geography:The regions covered in the hr advisory services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain
North America was the largest region in the HR advisory services market in 2023. Western Europe was the second largest region in the global HR advisory services market share. The regions covered in the hr advisory services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major HR Advisory Services Industry Players
Marsh & McLennan Companies, Inc., Willis Towers Watson, Accenture, Aon Hewitt, McKinsey & Company, Boston Consulting Group, Korn Ferry, KPMG LLP, Bain & Company, Deloitte Consulting LLP, Tricor Group, With Business Process Outsourcing, Quess Corp, Adecco India Pvt. Ltd, ABC Consultants Pvt Ltd, CareerNet Technologies Pvt Ltd, Innovsource Services Pvt Ltd, KOISRA UP, Reed Specialist Recruitment Korea, MAM Corporate Solutions, Talent Search Recruitment, LANSIMA, Global Expat Recruiting, Recruit Express Pte Ltd, JAC Recruitment Group, Wuhu Hande Business Consulting Co. Ltd., New Horizons Global Partners Shanghai, INFITEC, Morgan McKinley Shangha, Monroe Consulting Group, Links International, CDP Group, Ltd., Arcoro GmbH, Teamly, Ratbacher GmbH, Duerenhoff GmbH, IMU Institut GmbH, Pape Personalberatung, Dr. Maier + Partner Group, Conciliat GmbH, International Service Group, Venturi Ltd, CLEVIS GmbH, DEKRA Arbeit Group, Passion for People GmbH, SHUNTI, Leinonen Group, ManpowerGroup, BPI group, TEXON Recruitment, Acteon, TRIZA Exclusive, Staff-Up, Amrop, Unistaff, Unity Business Solutions, Robert Half, TPD, Creo Consulting, Pinnacle HR, ALL in ONE, First Class Consulting Firm, ACCUR, American Recruiting & Consulting Group, RMG Staffing, HH Staffing Services, Criterion Executive Search, The HT Group, Sim Carreira, Ubiminds, Mercer, CDL de Florianópolis, Empreza Service Center, Gi Group, ACIF, Grupo Meta RH, Employer RH, Foxtime Recursos Humanos, Alliage, EAG - Empresa Autogerenciável, Nathan & Nathan Human Resources Solutions, Tuscan Consulting, NAJMA Consultancy, Pinpoint Human Resource Consultancy, Ultimate HR Solutions, JAMS HR Solutions, Accel HR Consulting, Dragon Recruiting, Education 1st Recruitment, PE Corporate Services (PECS), EY South Africa, KPMG East Africa Limited, Strategy&, Alvarez & Marsal, Nextcontinent, AMSCO
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HR Advisory Services Market Overview
HR advisory services assist businesses in increasing the efficiency of HR operations and effectively implementing new policies and procedures. HR Advisory Services help organizations transform their business culture, including changes in organizational design, processes, and systems, among other things.
HR Advisory Services Global Market Report 2023 provides data on the global hr advisory services market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The hr advisory services market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.