HR Consulting in Canada - Industry Market Research Report

Open door policy: Falling unemployment will result in consistent industry growth

Canada's HR Consulting industry found new opportunities amid COVID-19, which reshaped business operations and highlighted the need to strategically manage HR departments across sectors. While HR consultants' growth is typically cyclical, as they rely on new business formation and employment expansion, the economic downturn associated with the pandemic brought consultants' countercyclical value to light. Although post-pandemic returns to the office offset some of the booming growth experienced in 2020, revenue for Canada's HR Consulting industry has expanded at a CAGR of 0.4% over the past five years, reaching an estimated $3.9 billion in 2023.

This industry provides advice and assistance to businesses and other organizations for structuring human resource and personnel policies, employee benefits, compensation systems, wage and salary administration, recruitment and retention. This industry does not include companies that provide professional and management development training or those that list employment vacancies and place applicants in employment.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.