The HR Advisory Services by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s HR Advisory Services, The hr advisory services market size has grown steadily in recent years. It will grow from $157.54 billion in 2023 to $162.81 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets, increased mergers and acquisitions, globalization, and a rise in research and development (r&d) investments.
The hr advisory services market size is expected to see steady growth in the next few years. It will grow to $186.81 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to data analytics and ai, rising urbanization, technological advancements, and increasing focus on customer satisfaction. Major trends in the forecast period include data analytics and ai, rising urbanization, technological advancements, and increasing focus on customer satisfaction.
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, analyses employee data, segments and categorises 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 growth of the HR advisory service market.
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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
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 artificial intelligence (AI) are critical components of the digital workplace, assisting in the removal of geographic barriers for improved collaboration, increasing productivity and employee engagement, improving decision making, and optimizing costs. For instance, according to SEO.ai a France-based AI tool, AI could potentially replace around 800 million jobs worldwide by 2030.
The hr advisory services market report table of contents includes:
1. Executive Summary
2.HR Advisory Services Market Characteristics
3.HR Advisory Services Market Trends And Strategies
4.HR Advisory Services Market analysis
5.HR Advisory Services Market Size And Growth
6.HR Advisory Services Segmentation
7.HR Advisory Services Regional And Country Analysis
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27.HR Advisory Services Competitive Landscape And Company Profiles
28.HR Advisory Services Key Mergers And Acquisitions
29.HR Advisory Services Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Marsh & McLennan Companies, Inc.
- Willis Towers Watson
- Accenture
- Aon Hewitt
- McKinsey & Company
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