The HR Advisory Services Global Market Report 2023 by The Business Research Company, provides HR advisory services market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.
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According to The Business Research Company’s HR Advisory Services Global Market Report 2023, the global HR advisory market size will grow from $150.99 billion in 2022 to $157.54 billion in 2023 at a compound annual growth rate (CAGR) of 4.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global HR advisory market is expected to grow to $179.58 billion in 2027 at a CAGR of 3.3%.
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.
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The HR advisory services market is segmented:
1) By Type: Compensation Consulting, Benefits Consulting, Human Resources Management Consulting, Actuarial Consulting, Strategic Consulting, Other Types
2) By Service: Integration & Deployment, Support & Maintenance, Training & Consulting
3) By End-Use: IT Services, Manufacturing, Financial Services, Mining And Oil & Gas, Construction, Other End-Uses
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 The Future of Jobs Report 2020, published by the World Economic Forum, AI is expected to replace 85 million jobs globally by 2025.
The HR advisory services market report table of contents includes:
1. HR Advisory Services Market Executive Summary
2. Table of Contents
3. List of Figures
4. List of Tables
5. Report Structure
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20. Global HR Advisory Services Market Competitive Landscape
21. Key Mergers And Acquisitions In The HR Advisory Services Market
22. HR Advisory Services Market Opportunities And Strategies
23. HR Advisory Services Market, Conclusions And Recommendations
24. Appendix
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