Human Resources & Benefits Administration in the US - Industry Market Research Report
Human Resources & Benefits Administration in the US
The industry provides assistance with financial planning, billing and record keeping, personnel, physical distribution and logistics. Over the past five years, the industry has benefited from growing corporate profit, strong business sentiment and rising consumer spending, encouraging companies to outsource administrative duties. But the emergence of COVID-19 in 2020 caused high unemployment, limiting demand for the industry's services. Despite pandemic-related declines, industry revenue has increased at a CAGR of 1.4% to $85.5 billion over the five years to 2023. In 2021 and 2022, revenue flourished as companies recovered from economic downturn; but rising unemployment and slow business growth will stifle demand in 2023, when revenue will grow a meager 0.1%.
This industry provides clients with a range of day-to-day office administrative services, such as assistance with financial planning, billing and record keeping, personnel, physical distribution and logistics. The industry also furnishes general and specialized management services on a day-to-day basis and a contracted or fee-for-services basis. Industry businesses do not provide clients with any actual operating staff to carry out management or operational activities.
This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.
TABLE OF CONTENTS
ABOUT THIS INDUSTRY
Industry Definition
Main Activities
Similar Industries
Additional Resources
INDUSTRY AT A GLANCE
INDUSTRY PERFORMANCE
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
PRODUCTS & MARKETS
Supply Chain
Products & Services
Demand Determinants
Major Markets
International Trade
Business Locations
COMPETITIVE LANDSCAPE
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Basis of Competition
Barriers to Entry
Industry Globalization
MAJOR COMPANIES
OPERATING CONDITIONS
Capital Intensity
Technology & Systems
Revenue Volatility
Regulation & Policy
Industry Assistance
KEY STATISTICS
Industry Data
Annual Change
Key Ratios
JARGON & GLOSSARY
Research Assistance
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
Download eBook