Outplacement Services Market Outlook Key Futuristic Trends and Competitive Landscape by 2030
According to HTF Market Intelligence, the global Outplacement Services market is valued at USD 2.5 Million in 2023 and estimated to reach a revenue of USD 3.8 Million by 2030, with a CAGR of 6.34% from 2023 to 2030.
Outplacement Services Market Overview
Outplacement is a kind of support service that is provided by some of the organizations so as to help the former employee’s transition towards new jobs. A consultancy firm generally provides the outplacement services which are usually paid for by the former employer and are attained through practical advice, workshops, and training materials. Some of the companies may even offer psychological support. Outplacement is either carried out through individual one-on-one sessions or in the group format. Some of the topics of discussions include career guidance, job search skills, career evaluation, resume writing, targeting the job market, developing networks, interview preparation, and negotiation. Consultants provide support to the individuals seeking a new job, and also to those who are looking forward to starting a new business or structure a collection of activities. These programs have set time limits that can be ranging from a few months to some additional extended periods, such as around 12 months and are presented at all the levels of an organization, from the workers to the corporate employees. Outplacement provides the former employees with a structure and guidance towards their new career options and hence preserves the morale of those who still remain in the company and those who see that their colleagues are given the essential support when they are to leave the company.
Some of the companies listed in the study from the complete survey list are Lee Hecht Harrison (United States), Randstad RiseSmart (United States), Right Management (United States), CareerArc (United States), LHH Penna (United Kingdom), DBM (United States), Adecco Group (Switzerland), PrismHR (United States), Insala (United States), Career Partners International (United States), CCI Consulting (United States), The Resourcing Experts (United Kingdom), Wise Group (Stockholm, Sweden), Conduent HR Services (United States).
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Market Trends
Increase In the Client Businesses to Use Industry Services to Help Their Redundant Workers to Find New Employment
Market Drivers
Growing Customizable Services And Frequent Mass Hiring & Layoffs
A Rise in the Safety against Litigation and Economic Feasibility
Market Opportunities:
Increase in the Range of Services Provided by the Outplacement Agencies or Firms
The Influence of the Latest Government Policies to Focus on the Standard Procedures to Comprehend the Growth of the Global Outplacement Services Market
Outplacement Services Market Segmentation
The Outplacement Services Market is Segmented by Application (Large Enterprises, Small and Medium-sized Enterprises (SMEs)) by Type (Product Type, Group Outplacement, Personal Outplacement) by Industry Vertical (BFSI, IT & Telecom, Retail, Media & Entertainment, Government & Public Sector, Manufacturing, Healthcare, Others) by Service Type (Resume Writing, Job Search, Job Coaching, Others) and by Geography (North America, South America, Europe, Asia Pacific, MEA)
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