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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 is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

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 - 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. Since 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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