Market Size of HR Professional Services Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | > 7.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
HR Professional Services Market Analysis
The global HR professional services market is poised to grow at a CAGR of greater than 7% during the forecast period.
Employers and employees experienced confusion and uncertainty due to the COVID-19 pandemic, which had no apparent end in sight. Much of 2020 and the first half of 2021 saw HR operating in crisis mode, trying to figure out how to allow workers to work from home, offer greater mental and physical health care, and work harder than ever on C-level plans to keep their businesses running. The function of HR has fundamentally changed as businesses adapt to a new normal and the dust continues to settle. Although the HR department still oversees employee performance, productivity, and efficiency, its bigger task is to comprehend the difficulties that individuals face both at and outside the workplace.
Human resources specialists handle issues or demands involving people who develop inside a business. They frequently oversee hiring, firing, onboarding new personnel, and the orientation process to get staff members settled into their new responsibilities.
Determining what is successful throughout the crisis of COVID-19 and building on it to gain a competitive edge are key roles that HR can play. For example, a business downsizing its headquarters and setting up regional hubs that may access new talent pools. In such a case, HR would have to determine how the hubs and the headquarters would collaborate, how the work would be organized, etc. What kinds of systems and processes need to be put in place to enable efficient workflows and communications is what HR Professionals determine a crucial factor.
