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HR Advisory Services Global Market Report 2022

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    Report

  • 175 Pages
  • December 2021
  • Region: Global
  • The Business Research Company
  • ID: 5515126
HR Advisory Services Global Market Report 2022 provides the strategists, marketers and senior management with the critical information they need to assess the global hr advisory services market as it emerges from the COVID-19 shut down.



Reasons to Purchase

  • Gain a truly global perspective with the most comprehensive report available on this market covering 12+ geographies.
  • Understand how the market is being affected by the coronavirus and how it is likely to emerge and grow as the impact of the virus abates.
  • Create regional and country strategies on the basis of local data and analysis.
  • Identify growth segments for investment.
  • Outperform competitors using forecast data and the drivers and trends shaping the market.
  • Understand customers based on the latest market research findings.
  • Benchmark performance against key competitors.
  • Utilize the relationships between key data sets for superior strategizing.
  • Suitable for supporting your internal and external presentations with reliable high quality data and analysis

Description:

Where is the largest and fastest growing market for the hr advisory services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The HR Advisory Services market global report answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market’s historic and forecast market growth by geography. It places the market within the context of the wider hr advisory services market, and compares it with other markets.
  • The market characteristics section of the report defines and explains the market.
  • The market size section gives the market size ($b) covering both the historic growth of the market, the impact of the COVID-19 virus and forecasting its recovery.
  • Market segmentations break down market into sub markets.
  • The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the impact and recovery trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
  • Competitive landscape gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
  • The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
  • The hr advisory services market section of the report gives context. It compares the hr advisory services market with other segments of the hr advisory services market by size and growth, historic and forecast.

Scope

Markets Covered:

  • 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

Companies Mentioned: IBM Corporation; Mckesson Corporation; Dell; Tata Consultancy Services; Infosys Limited

Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA

Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa

Time series: Five years historic and ten years forecast.

Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,

Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.

Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.


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Frequently Asked Questions about the Global HR Advisory Market

What is the estimated value of the Global HR Advisory Market?

The Global HR Advisory Market was estimated to be valued at $87.3 Billion in 2022.

What is the growth rate of the Global HR Advisory Market?

The growth rate of the Global HR Advisory Market is 5.9%, with an estimated value of $109.8 Billion by 2026.

What is the forecasted size of the Global HR Advisory Market?

The Global HR Advisory Market is estimated to be worth $109.8 Billion by 2026.

Who are the key companies in the Global HR Advisory Market?

Key companies in the Global HR Advisory Market include IBM Corporation, Mckesson Corporation, Dell, Tata Consultancy Services, Infosys Limited, Accenture PLC, Aon, Deloitte Touche Tohmatsu Limited and Marsh & McLennan Companies Inc..

Table of Contents

1. Executive Summary2. HR Advisory Services Market Characteristics3. HR Advisory Services Market Trends And Strategies4. Impact Of COVID-19 On HR Advisory Services
5. HR Advisory Services Market Size And Growth
5.1. Global HR Advisory Services Historic Market, 2016-2021, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global HR Advisory Services Forecast Market, 2021-2026F, 2031F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market
6. HR Advisory Services Market Segmentation
6.1. Global HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Compensation Consulting
  • Benefits Consulting
  • Human Resources Management Consulting
  • Actuarial Consulting
  • Strategic Consulting
  • Other
6.2. Global HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • Integration & Deployment
  • Support & Maintenance
  • Training & Consulting
6.3. Global HR Advisory Services Market, Segmentation By End-Use, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
  • IT Services
  • Manufacturing
  • Financial Services
  • Mining And Oil & Gas
  • Construction
  • Others

7. HR Advisory Services Market Regional And Country Analysis
7.1. Global HR Advisory Services Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
7.2. Global HR Advisory Services Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8. Asia-Pacific HR Advisory Services Market
8.1. Asia-Pacific HR Advisory Services Market Overview
  • Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
8.3. Asia-Pacific HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
9. China HR Advisory Services Market
9.1. China HR Advisory Services Market Overview
9.2. China HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
9.3. China HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F,$ Billion
10. India HR Advisory Services Market
10.1. India HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
10.2. India HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11. Japan HR Advisory Services Market
11.1. Japan HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
11.2. Japan HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12. Australia HR Advisory Services Market
12.1. Australia HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
12.2. Australia HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13. Indonesia HR Advisory Services Market
13.1. Indonesia HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
13.2. Indonesia HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14. South Korea HR Advisory Services Market
14.1. South Korea HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
14.2. South Korea HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15. Western Europe HR Advisory Services Market
15.1. Western Europe HR Advisory Services Market Overview
15.2. Western Europe HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
15.3. Western Europe HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16. UK HR Advisory Services Market
16.1. UK HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
16.2. UK HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17. Germany HR Advisory Services Market
17.1. Germany HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
17.2. Germany HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18. France HR Advisory Services Market
18.4. France HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
18.5. France HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19. Eastern Europe HR Advisory Services Market
19.1. Eastern Europe HR Advisory Services Market Overview
19.2. Eastern Europe HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
19.3. Eastern Europe HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20. Russia HR Advisory Services Market
20.1. Russia HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
20.2. Russia HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21. North America HR Advisory Services Market
21.1. North America HR Advisory Services Market Overview
21.2. North America HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
21.3. North America HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22. USA HR Advisory Services Market
22.1. USA HR Advisory Services Market Overview
22.2. USA HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
22.3. USA HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23. South America HR Advisory Services Market
23.1. South America HR Advisory Services Market Overview
23.2. South America HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
23.3. South America HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24. Brazil HR Advisory Services Market
24.1. Brazil HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
24.2. Brazil HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25. Middle East HR Advisory Services Market
25.1. Middle East HR Advisory Services Market Overview
25.2. Middle East HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
25.3. Middle East HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26. Africa HR Advisory Services Market
26.1. Africa HR Advisory Services Market Overview
26.2. Africa HR Advisory Services Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
26.3. Africa HR Advisory Services Market, Segmentation By Service , Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion
27. HR Advisory Services Market Competitive Landscape And Company Profiles
27.1. HR Advisory Services Market Competitive Landscape
27.2. HR Advisory Services Market Company Profiles
27.2.1. IBM Corporation
27.2.1.1. Overview
27.2.1.2. Products and Services
27.2.1.3. Strategy
27.2.1.4. Financial Performance
27.2.2. Mckesson Corporation
27.2.2.1. Overview
27.2.2.2. Products and Services
27.2.2.3. Strategy
27.2.2.4. Financial Performance
27.2.3. Dell
27.2.3.1. Overview
27.2.3.2. Products and Services
27.2.3.3. Strategy
27.2.3.4. Financial Performance
27.2.4. Tata Consultancy Services
27.2.4.1. Overview
27.2.4.2. Products and Services
27.2.4.3. Strategy
27.2.4.4. Financial Performance
27.2.5. Infosys Limited
27.2.5.1. Overview
27.2.5.2. Products and Services
27.2.5.3. Strategy
27.2.5.4. Financial Performance
29. Key Mergers And Acquisitions In The HR Advisory Services Market29. HR Advisory Services Market Future Outlook and Potential Analysis
30. Appendix
30.1. Abbreviations
30.2. Currencies
30.3. Research Inquiries
30.4. The Business Research Company
30.5. Copyright And Disclaimer

Executive Summary

Major players in the HR advisory services market are 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.

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 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 market is expected to reach $109.83 billion in 2026 at a CAGR of 5.9%.

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.

The main types of HR advisory services are compensation consulting, benefits consulting, human resources management consulting, actuarial consulting, strategic consulting, and others. Compensation consultants are professionals in the implementation and design of compensation programmes, with the purpose of generating the right incentives for employees. They also advise businesses on compensation trends and current pay rates for specific job categories. The various types of services include integration & deployment, support & maintenance, and training & consulting and are used by IT services, manufacturing, financial services, mining and oil and gas, construction, and others.

The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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 HR advisory service market.

Organizations across the globe are focusing on creating a digital workplace using cloud services and AI, which is gaining significant popularity in the HR advisory market. The digital workplace is a modern concept using digital transformation to align technology to achieve organizational goals with operational efficiency. Cloud services and AI are important parts of the digital workplace helping in removing geographic barriers for improved collaboration, increased productivity and employee engagement, improved decision making, and also in optimizing costs. For instance, in 2019, IBM stated that AI has replaced 30% of IBM’s HR staff, help employees to identify new skills training, education, job promotion and raises. Also, with 95% accuracy, IBM artificial intelligence can forecast which people will leave a job.

Cybersecurity threats for the human resource department is a major factor hindering the growth of the HR advisory services market. A cybersecurity breach is costly and equally destructive for all organizations - big or small. According to Heimdal Security, cyber-crimes costs the global economy $100 billion every year and $17 million in the USA alone. HR professionals maintain extremely private and sensitive information such as social security number, date of birth, address, and bank details. In addition to this, according to the Forrester Analytics Global Business Technographics® Security Survey 2019, 52% of enterprise network security decision-makers experienced at least one data breach in the last 12 months, and 44% of breaches were caused by employees who intentionally or not, exposed sensitive data to data thieves or hackers. Companies rely on their HR department and do not outsource HR services because there is a risk of losing important employee data in availing external HR services, thereby restraining the growth of the HR advisory services market over the coming years.

In March 2020, Aon Plc, a London-based global provider of risk management services, insurance and reinsurance brokerage, and human resource consulting and outsourcing, acquired Willis Towers Watson (WTW), the UK-based risk management, insurance brokerage, and advisory company, for $30 billion. The acquisition will strengthen Aon Plc's expertise in cybersecurity, intellectual property, climate change, and health solutions. The combined entity would work together in risk, retirement, and health businesses. Willis Towers Watson (WTW) is a London-based company that helps clients around the world in 140 countries in global advisory, HR consulting and software, broking, and other solutions.

The countries covered in the HR advisory services market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK and USA.

Companies Mentioned

A selection of companies mentioned in this report includes:

  • IBM Corporation
  • Mckesson Corporation
  • Dell
  • Tata Consultancy Services
  • Infosys Limited
  • Accenture PLC
  • Aon
  • Deloitte Touche Tohmatsu Limited
  • The Adecco Group
  • Marsh & McLennan Companies Inc.
  • Willis Towers Watson
  • Hay Group
  • Automatic Data Processing (ADP) Inc.
  • Oracle Corporation
  • Kronos Incorporated
  • Randstad Manpower
  • Mercer
  • ManpowerGroup
  • SYNERGIE
  • KORN FERRY
  • KRONOS
  • ROBERT WALTERS

Methodology

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