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 - Starting a New Business Chapter
The HR Consulting industry has low barriers to entry. There are low start-up costs to opening a HR consulting firm and there is little regulation of the industry. Furthermore, the industry is highly fragmented, and although there are a significant number of operators, there is a low level of market share concentration. The top four companies in the industry generate just over 20.0% of the industry's revenue.
The most significant barrier to entry is the specialized knowledge required for industry operators. There is relatively little capital investment required to enter the industry, as it is service based. Because the industry is labor intensive, hiring employees with a high degree of specialized knowledge is one of the primary barriers to entry... purchase to read more