HR Advisory Services Global Market Sees Growth Rate Of 7% Through 2022

31 Jan, 2022

The global HR advisory market is expected to grow from $81.45 billion in 2021 to $87.32 billion in 2022 at a compound annual growth rate (CAGR) of 7.2%. The growth in the HR advisory market is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The human resource advisory market is expected to reach $109.83 billion in 2026 at a CAGR of 5.9%.

What is the Global HR Advisory Services Market?

The HR advisory market consists of the sales of HR advisory services by entities (organizations, sole traders and partnerships) that provide advice on human capital matters and/or offerings revolving around the HR function. HR advisory services are generally used by two types of clients – those aiming to improve their HR function by redesigning HR processes and those undergoing transformations such as mergers and acquisitions to ensure the new human capital is trained. Only goods and services traded between entities or sold to end consumers are included.

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What drives the Global HR Advisory Services Market?

The use of data-driven tools and analytics for employee engagement is a major driver contributing to the growth of the HR advisory services market. Employee engagement refers to a workplace approach that results in appropriate conditions for all the employees of the company to give their best performance every day by abiding by the values of the company with an enhanced feeling of their well-being. Professionals in human resource management are relying on data analytics and AI for key decisions. For instance, Genpact, an American professional services company, analyzes employee data, segments and categorizes it to find patterns such as at what age, salary range, or experience level, employees leave the organization. Predictive analytics is used to identify employees who are at high risk of voluntary attrition and interventions are designed to re-engage them. Further advances in data-driven tools and analytics are expected to drive the human resource advisory service market.

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Global HR Advisory Services Market Segments
The global HR advisory services market is segmented:
By Type: Compensation Consulting, Benefits Consulting, Human Resources Management Consulting, Actuarial Consulting, Strategic Consulting, Other
By Service: Integration & Deployment, Support & Maintenance, Training & Consulting
By End-Use: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Others
By Geography: The regions covered in the HR advisory services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.

HR Advisory Services Global Market Report 2022provides market size and growth forecasts for the global HR advisory services market, global HR advisory services market share, HR advisory services market segments and geographies, HR advisory services market competitive landscape including leading competitors’ revenues, profiles and market shares. The HR advisory services market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global HR Advisory Services Industry Playersinclude IBM Corporation, McKesson Corporation, Dell, Tata Consultancy Services, Infosys Limited, Accenture PLC, Aon, Deloitte Touche Tohmatsu Limited, The Adecco Group and Marsh & McLennan Companies Inc. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.