What is Human Resource Professional Services?
Human Resource Professional Services comprise of comprehensive services offered to business which aid in their talent management, human development, employee engagement, training, benefit programs of employees, employee retaining, and administration. Companies are shifting for contemporary ways to more digital solutions oriented techniques for better Human resource management. Enterprises are increasingly innovating and adopting tech based solutions to reduce the cost of delivering HR services. Growing adoption of cloud based SaaS platforms and other digital solutions has led to significant growth of the Human resource professional services. Currently, North America accounts for largest market share in human resource professional services.
The market study is broken down by Type (Core HR, Recruiting, Talent Management and Others) and major geographies with country level break-up.
Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
IBM Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), Skillsoft Inc. (United States), ManpowerGroup (United States), Cornerstone On Demand, Inc. (United States), Kronos, Inc. (United States), ADP, LLC (United States), Workday, Inc. (United States) and Ultimate Software Group, Inc. (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are BambooHR (United States), Zenefits (United States) and Namely (United States).
AdvanceMarketAnalytics has segmented the market of Global Human Resource Professional Services market by Type, Application and Region.
On the basis of geography, the market of Human Resource Professional Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End Use, the sub-segment i.e. BFSI will boost the Human Resource Professional Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Organisation Size , the sub-segment i.e. SMEs will boost the Human Resource Professional Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Workday, Inc., a United States based on‑demand financial management and human capital management software vendor has announced acquisition of Peakon, which is a data driven HR startup. The acquisition was valued at USD 700 million, all in cash. Peakon offers a SaaS based platforms to enterprises to forge better communication and relationship with their employees, and using series of surveys, generating real time data on employees. The acquisition integrated with Workday’s comprehensive HR services, will significantly bolster its market standings.
In 2021, Clearlake Capital Group, L.P., a United States based private equity firm has announced acquisition of Cornerstone OnDemand, Inc., an American firm specialising in cloud based people development software services, with the signing of a definitive agreement to acquire. The acquisition valuation is around USD 5.2 billion. With the completion of the deal, Cornerstone would become a private company. Combined synergies of both the companies, would allow Cornerstone to accelerate its SaaS based HR solutions.
- Integration of Artificial Intelligence and Machine Learning
- Growing Adoption of Digital Solutions for Backdoor and Front End Operations
- Increasing Demand for Reduction of Cost for Delivering HR Services
- Rising Consciousness to Improve the Employee Experience
- SMEs Segment Presents Huge Opportunity to Expand
- High Cost of Training Existing Employees with New Technology
- Emergence of Large Number of Local Players in Market
Key Target AudienceHuman Resource Professional Services Provider, New Entrants/Investors, Venture Capitalists and Private Equity Firms, Analysts and Strategic Business Planners and End-Use Industries
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.
Frequently Asked Questions (FAQ):
1. What all players are profiled in the study?
The standard version of the report profiles players such as IBM Corporation (United States), Oracle Corporation (United States), SAP SE (Germany), Skillsoft Inc. (United States), ManpowerGroup (United States), Cornerstone On Demand, Inc. (United States), Kronos, Inc. (United States), ADP, LLC (United States), Workday, Inc. (United States) and Ultimate Software Group, Inc. (United States) etc.
2. Can we have customized study for Human Resource Professional Services Market?
The Study can be customized subject to feasibility and data availability. Please connect with our sales representative for further information.
3. What would be the Market Size of Human Resource Professional Services Market by 2026?
Analysts at AMA estimates Human Resource Professional Services Market to reach USD Million by 2026.