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The Business Research Company’s “HR Advisory Services Market Report 2022” forecasts the HR advisory services market reached a value of nearly $ 148.6 billion in 2021. The global HR advisory services market size is expected to grow from $ 148.6 billion in 2021 to $ 206.1 billion in 2026 at a rate of 6.8 %. The global HR advisory services market size is then expected to grow at a CAGR of 8.0% from 2026 and reach $ 302.8 billion in 2031.
The increasing use of data analytics and artificial intelligence (AI) is expected to drive the growth of the HR advisory services market during the forecast period.
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HR Advisory Services Market Trends
During the pandemic, it can be observed from available data that the mental health of a considerable number of employees has been affected due to several factors, such as anxiety, loneliness, effected social life, job insecurity, etc. The employees have been going through a continuous mental health struggle because of the fear of lay-offs, meeting expectations of achieving higher targets, etc. It is vital to keep them informed about the ongoings of the organization and their job security. An HR consultant has a crucial role to play to cope up with such situations, by being available, showing empathy and providing long term support to the employees. The high levels of stress that have emerged and continue to affect employees worldwide during the ongoing lockdown. is a huge area of concern. It is a well-known fact that physical and mental wellbeing are correlated, and one cannot be managed at the expense of the other. The work-from-home practice due to Covid-19 was literally adopted overnight by employers, creating a whole new set of challenges for all stakeholders.
HR Advisory Services Market Overview
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.
HR Advisory Services Global Market Report 2022 from TBRC covers the following information:
• By Type – Compensation Consulting, Benefits Consulting, Actuarial Consulting, Strategic and Other Consulting
• By Service – Integration and Deployment, Support and Maintenance, Training and Consulting
• By End-User – IT Services, Manufacturing, Financial Services, Mining and Oil & Gas, Construction, Other Services, Others
• By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America holds the largest share in the market.
Market Size Data
• Forecast period: Historical and Future
• By region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• By countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Major market players such as Marsh & McLennan Companies, Inc., Willis Towers Watson, Accenture, Aon Hewitt, McKinsey & Company
Trends, opportunities, strategies and so much more.
HR Advisory Services Market Report 2022 is one of The Business Research Company’s comprehensive reports that provides in-depth HR advisory services market research. The market report analyzes HR advisory services global market size, HR advisory services global market segmentation, HR advisory services global market growth drivers, HR advisory services industry growth across geographies, and HR advisory services market competitors’ revenues and market positioning. The report enables you to gain insights on opportunities and strategies, as well as identify countries and segments with the highest growth potential.