Global Outplacement Services Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Outplacement Services Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Outplacement services provide assistance to exiting employees in finding new work. Outplacement is commonly offered, as a complement to severance, in separation agreements. Services can include things like resume reviews, job search advice, interview training, personalized coaching, and career assessments.

Market Overview:

The latest research study on the global Outplacement Services market finds that the global Outplacement Services market reached a value of USD 2322.69 million in 2022. It’s expected that the market will achieve USD 3501.01 million by 2028, exhibiting a CAGR of 7.08% during the forecast period.

Influence of COVID-19 Outbreak on Outplacement Services Industry

Due to the impact of COVID-19, the industrial chain of all walks of life around the world has been greatly impacted. During the epidemic, the business conditions of many enterprises were depressed. As a result, many large companies have expanded their layoffs during the pandemic to ease the pressure caused by COVID-19. This expanded the size of the unemployed population and promoted the development of the reemployment service market.

Advantages of Outplacement Services

Outplacement services enable laid-off employees to move more quickly to the next stage of their careers. Career guidance is invaluable, especially for someone who has been out of the job market for a while. They may not be aware of the latest job search trends and how to manage their time. Job placement speeds up the job search process, and good job placement also provides support for those struggling with the transition. Resume and profile coaching, interview preparation, career insights, and interpersonal strategies help employees learn more about their talents and passions, rebuild self-confidence, and expedite the job search process.

The cost of using Outplacement Services for enterprises is relatively high

One of the major disadvantages of businesses offering Outplacement Services to ex-employees is the increased expense for the organization. This service is not cheap and some organizations feel they are spending a lot of money on employees who have left the company and are of no use to them in theory and practice. Companies often assume that employees do not need the service or that every employee wants the service. The former will lead to long-term damage to the employer brand, and the latter will increase the cost of using the service to a certain extent.

The emergence of emerging professions in various fields

With the continuous development of science and technology and the continuous innovation and upgrading of the service industry, countless new occupations have emerged in all walks of life. Most of these new professions are in the development stage, and all kinds of talents are urgently needed, and large-scale recruitment continues. These have attracted many laid-off workers or workers employed in traditional industries to enter, which in turn promoted the development of the outplacement services industry.

Region Overview:

Geographically, United States held the largest market share – 39.36% in 2022.

Company Overview:

Adecco Group AG is one of the major players operating in the Outplacement Services market, holding a share of 25.74% in 2023.

Adecco Group AG

The company provides personalized and comprehensive organizational and talent consulting services to businesses and individuals around the world. Adecco Group AG advises clients on how to succeed in a changing workplace, helps organizations build capabilities and helps individuals build better, brighter futures.

ManpowerGroup

ManpowerGroup is a world leader in innovative workforce solutions. Every day, we connect more than 600,000 people to meaningful work across a wide range of skills and industries helping to power the success of clients around the world.

Segmentation Overview:

By type, Outplacement segment accounted for the largest share of market in 2022.

Outplacement

Outplacement refers to services such as job matching and job research provided by companies. Outplacement is the process of matching the right person to the right job based on individual strengths. Mainly to help ex-employees find new jobs.

Career Development

Career development is a plan used by a specific service organization to help former employees acquire the skills and knowledge needed for current and future jobs. Career Development includes career guidance, networking skills development services.

CV/Resume Writing

CV/Resume writing service helps job seeker improve the quality and effectiveness of their document to better get the attention of recruiters and hiring managers to get a job offer.

Application Overview:

The market's largest segment by application is the segment Enterprise, with a market share of 77.72% in 2022.

Key Companies in the global Outplacement Services market covered in Chapter 3:

Chiumento Limited
Prima Careers
Mercer
Randstad
Intoo
Velvetjobs
Connor
Hudson
ManpowerGroup
Adecco Group AG
Careerpro Inc.
Career Insight Group

In Chapter 4 and Chapter 14.2, on the basis of types, the Outplacement Services market from 2018 to 2029 is primarily split into:

Outplacement
Career Development
CV/Resume Writing
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Outplacement Services market from 2018 to 2029 covers:

Personal
Enterprise

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)