DUBLIN--(BUSINESS WIRE)--The "Global Outplacement Services Market by Offering (Executive Outplacement Services, Group Outplacement Services, Individual Outplacement Services), End-Use (Enterprise, Personal) - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.

The Outplacement Services Market size was estimated at USD 4.48 billion in 2023, USD 4.73 billion in 2024, and is expected to grow at a CAGR of 5.76% to reach USD 6.63 billion by 2030.

Outplacement services refer to the range of career transition support services provided by specialized firms to assist organizations in managing workforce restructuring, particularly during layoffs, corporate restructuring, or mergers and acquisitions. These services aim to facilitate a smoother transition for displaced employees by providing personalized coaching, skill development opportunities, job search assistance, networking platforms, and other resources to boost their employability and help them secure new jobs.

Periodic economic downturns have led to increased layoffs worldwide, creating the demand for outplacement services. Organizations are increasingly adopting outplacement services to improve talent retention post-restructuring. However, high cost and changing quality standards may adversely impact the use of outplacement services by the end-use sectors globally.

Moreover, creating tailor-made programs addressing specific requirements unique to various industries can enhance service relevance and encourage their adoption by business organizations worldwide.

Regional Insights

The outplacement services market is evolving in the Americas owing to the significant investments by various business organizations to support employees during restructuring and downsizing. The rise in unemployment rates and emphasis on supporting affected employees during difficult transitions have amplified the adoption of outplacement services in the Americas.

European Union (EU) countries have also experienced growth in the outplacement services market owing to the labor laws, which incline multinational organizations operating within this region to deliver efficient outplacement solutions. In the Middle East, ongoing economic restructuring has contributed to increased demand for outplacement services. Rapid population growth in Africa presents unique challenges to its labor market, including skills gaps and high youth unemployment rates.

Investment in workforce development programs by governments and international organizations reflects growing recognition of outplacement services as an essential component in addressing these issues in the African region. Significant investment in human resources and talent management initiatives, driven by government reforms and technological advancements, have encouraged the growth of the outplacement market in APAC. In addition, the proliferation of virtual outplacement services is anticipated to propel their adoption by the end-use sectors worldwide.

Key Attributes:

Market Dynamics

Drivers

• Increasing use of outplacement services owing to rapid globalization and corporate restructuring
• Need to provide skill development and job search assistance

Restraints

• High cost of outplacement services

Opportunities

• Introduction of outplacement services with innovative features
• Emerging popularity of virtual outplacement services

Challenges

• Concerns associated with technological limitations and limited personalization of services

Market Segmentation Analysis

• Offering: Extensive use of individual outplacement services to offer personalized support and guidance
• End-Use: Growing deployment of outplacement services by enterprises for managing workforce transitions

Competitive Portfolio

• Adecco Group AG
• ADP, Inc.
• Agilec
• Canada Career Counselling
• Career Compass Canada
• Career Partners International LLC
• Careerminds Group Inc.
• CareerPro Inc.
• Challenger, Gray & Christmas, Inc.
• Chiumento Limited
• CMS Career Management Solutions Inc.
• Connor
• Daily Muse Inc.
• Feldman Daxon Partners Inc.
• Frederickson Partners by Arthur J. Gallagher & Co.
• GI GROUP HOLDING S.p.A.
• Hudson Global, Inc.
• ICC Inc.
• KBRS
• Korn Ferry
• ManpowerGroup
• Mercer LLC
• Prima Careers
• Randstad Interim Inc.
• RiseSmart, Inc.
• The Adecco Group
• The Barrett Group
• The Talent Company
• VelvetJobs LLC
• Weapply

Market Segmentation & Coverage

Offering

• Executive Outplacement Services
• Group Outplacement Services
• Individual Outplacement Services
• Outplacement Counselling Programs

End-Use

• Enterprise
  • Banking, Financial Services & Insurance
  • Government & Public Sector
  • Healthcare
  • IT & Telecom
  • Manufacturing
  • Media & Entertainment
  • Retail
• Personal

Region

• Americas
  • Argentina
  • Brazil
  • Canada
  • Mexico
  • United States
    • California
    • Florida
    • Illinois
    • New York
    • Ohio
    • Pennsylvania
    • Texas
• Asia-Pacific
  • Australia
  • China
  • India
  • Indonesia
  • Japan
  • Malaysia
  • Philippines
  • Singapore
  • South Korea
  • Taiwan
  • Thailand
  • Vietnam
• Europe, Middle East & Africa
  • Denmark
  • Egypt
  • Finland
  • France
  • Germany
  • Israel
  • Italy
  • Netherlands
  • Nigeria
  • Norway
  • Poland
  • Qatar
  • Russia
  • Saudi Arabia
  • South Africa
  • Spain
  • Sweden
  • Switzerland
  • Turkey
  • United Arab Emirates
  • United Kingdom

For more information about this report visit https://www.researchandmarkets.com/r/f2bfd4

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