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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 | Apr 2014

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

IBISWorld’s HR Consulting market research report provides the latest industry statistics and industry trends, allowing you to identify the products and customers driving revenue growth and profitability. The industry report identifies the leading companies and offers strategic industry analysis of the key factors influencing the market.

Report Snapshot
Market Share of Companies
Industry Statistics & Market Size
Revenue
$27bn
Annual Growth 09-14
1.8%
Annual Growth 14-19
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Profit
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Employment
210,165
Businesses
82,418
Industry Analysis & Industry Trends

The growing importance of outsourcing internal services such as human resources by businesses has helped the industry grow through the recession. Nevertheless, a large amount of business closures, low corporate profit and high unemployment rates significantly slowed spending on HR consulting services, which are often nondiscretionary, during the recession and slow recovery. However, moving forward, the industry is forecast to turn around as the economy and business activity pick up... 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 less than 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 industry. 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

 


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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