Oct 5, 2007

The Booming HR Consulting Market

Kennedy Research states that the market is booming. Hmm... I wonder why Learning and Development services is not listed as a part of the HR consulting market. Looks like the biggest beneficiaries of the strong market growth are going to be the big players with global reach. And seems like I should be focusing on talent management consulting ;-)

Coming off of a strong 2006, the HR consulting revenues will continue to expand through the remainder of 2007 and into 2008, with each HR consulting subsegment — benefits consulting, HR technology advisory, and talent management consulting — pulling its share and driven by continued client demand for many services. Kennedy has not seen a market environment like this for a long time, where each segment and each geographic region is experiencing strong growth. Kennedy forecasts annual growth for HR Consulting in the 7% range through 2009, with a slowdown expected in 2010 and 2011 and pegs the 2006 global HR consulting revenues at $18.62 billion.