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HR Consulting in the US: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

HR Consulting Market Research Report | NAICS 54161b | Jun 2016

Greater resources: Despite increased competition, growth will continue as business activity picks up

IBISWorld’s HR Consulting market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$23bn
Annual Growth 11-16
7.9%
Annual Growth 16-21
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Profit
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Employment
182,904
Businesses
43,765
Industry Analysis & Industry Trends

Over the past five years, HR management has become more important to businesses, as the improving US economy helped to rebound corporate profit levels and the number of employees. Moreover, regulatory issues related to employee benefit plans have continued to stimulate demand for the HR Consulting industry. As the economy continues to improve and more employees return to the workforce, more companies will seek out HR consultants for advice. Moving forward, the largest industry operators are expected to increasingly turn to overseas markets for expansion as the economy becomes more globalized, further boosting domestic industry revenue as HR consultants manage international transfers... purchase to read more

Industry Report - Industry Investment Chapter

A very low level of capital intensity characterizes the HR Consulting industry. In 2016, for every dollar spent on labor, the industry is expected to invest $0.01 on capital. Over the past five years, the industry has become marginally more capital intensive as labor costs have fallen as a proportion of industry revenue. Some workers were laid off to cut costs. In addition, workers that were kept employed were forced to accept wage freezes as businesses attempted to resuscitate falling profit margins.

Firms also increased their use of technology over the past five years, as more software has been developed to assist human resources and benefits administration workers... purchase to read more

 


Industry ProductsRelated ReportsTable of Contents

What is the HR Consulting Industry?

Industry operators provide 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.

Industry Products
Compensation and benefits consultingHuman resources management consultingActuarial consulting
 
Industry Activities
Providing compensation planning servicesProviding personnel management assessmentProviding actuarial consulting servicesStructuring employee benefitsAssessing organization developmentProviding employee assessmentsProviding advice for recruitment and retention


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