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