1 Global Outplacement Services Market Insight Analysis
The global Outplacement Services market is valued at USD 2,708.91 million in 2024, with a CAGR of 6.91% from 2024 to 2033.
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.
Figure Global Outplacement Services Market Size (M USD) and CAGR (2024-2033)
2 Outplacement Services Market Growth Drivers and Restraints
Positive effects on resigned employees: Career relocation services can help resigned employees quickly start a new career. Provide key career guidance for people who have been out of the job market for a long time, help them understand the latest job search trends, arrange their time reasonably, and accelerate the job search process. Services such as resume and personal information coaching, interview preparation, career insights and interpersonal strategies can help employees explore their talents and interests, rebuild their confidence, and thus promote market development.
Benefits at the enterprise level: Enterprises provide career relocation services to help maintain the employer brand image and avoid negative impacts on the company due to dissatisfaction of resigned employees. At the same time, it can soothe the anxiety of employees in service, enhance employee loyalty, and attract outstanding talents. This has increased the demand for career relocation services in enterprises, becoming an important driving force for market growth.
Emergence of emerging professions: Technological development and service industry innovation have led to the emergence of emerging professions. These professions are in the development stage and are in urgent need of various talents. They have attracted a large number of employees in traditional industries and laid-off workers, which in turn has promoted the development of the career relocation service market.
Changes in the economic environment: Economic fluctuations have prompted companies to adjust their personnel structure, increased the number of unemployed people, and expanded the potential customer base for career relocation services. Take the COVID-19 pandemic as an example. The pandemic has caused many companies to lay off employees, and a large number of people need to be reemployed, which has stimulated the market demand for career relocation services.
High corporate costs: Companies will increase expenses by providing career relocation services to resigned employees. Some companies believe that this is investing money in resigned employees and are not sure whether employees really need the service. This has limited companies’ willingness to purchase services to a certain extent and hindered market growth.
Restrictions on service periods: Service providers usually set a job search period for customers. If customers do not find a job within the period, the service will be terminated. Since everyone’s needs are different, this time limit may reduce the chances of individuals finding new jobs, causing companies to have doubts about the effectiveness of the service and be unwilling to pay for it, affecting the expansion of the market.
Unstable economic environment: Factors such as the global economic slowdown, regional conflicts and the pandemic have led to an unstable economic environment. Companies are more cautious in investing and may reduce or suspend investment in career relocation services, which in turn affects market growth.
Intensified market competition: As the market develops, more and more companies are entering this field, and competition is becoming increasingly fierce. In order to gain a competitive advantage, some companies may adopt a low-price strategy, resulting in chaotic market prices, affecting the overall profits of the industry, and creating certain obstacles to the healthy development of the market.
3 Technological Innovations in the Outplacement Services Market
Service model innovation: Technological development has changed the model of career relocation services, with online platforms and one-on-one counseling gradually replacing traditional face-to-face consultations. With the help of online platforms, companies can break geographical restrictions and provide services to more customers. Using technologies such as data visualization, it is also possible to track and analyze reemployment performance in real time to improve the pertinence and effectiveness of services.
Improve user experience: The application of technologies such as cloud technology and artificial intelligence makes services more intelligent and personalized. For example, intelligent resume screening and matching functions can help job seekers quickly find suitable positions; virtual career relocation services can provide customized services according to user needs, improve user experience, and enhance market competitiveness.
Adapt to market demand: With the changes in the employment market, technological innovation enables career relocation services to better meet customer needs. The online service model adapts to people’s fast-paced lifestyles, allowing job seekers to obtain services anytime, anywhere; technical means can also update employment information in a timely manner to keep services in sync with market demand.
4 Global Outplacement Services Market Size by Type
In 2024, the outplacement services segment is projected to generate a revenue of 1198.43 million USD, accounting for 44.24% of the total market share. Outplacement services are designed to assist employees who are transitioning out of their current roles, often due to layoffs or organizational restructuring. These services typically include job matching, career counseling, and personalized coaching to help individuals find new employment opportunities more efficiently. The high market share of outplacement services reflects the significant demand from enterprises looking to manage workforce transitions effectively while maintaining their employer brand.
The career development segment is expected to contribute 688.60 million USD to the market in 2024, representing 25.42% of the total market share. Career development services focus on helping individuals enhance their professional skills and navigate their career paths. These services often include career assessments, skill-building workshops, and mentorship programs. The growth in this segment is driven by the increasing need for continuous learning and development in a rapidly changing job market. Employers are increasingly recognizing the value of investing in career development to retain talent and improve employee satisfaction.
The CV/Resume Writing segment is anticipated to reach a revenue of 463.31 million USD in 2024, holding a market share of 17.10%. This segment provides specialized services to help individuals create effective resumes and LinkedIn profiles that stand out in the competitive job market. These services often include personalized resume writing, cover letter creation, and LinkedIn optimization. The demand for CV/Resume Writing services is driven by the need for job seekers to present themselves in the best possible light to potential employers. With the increasing importance of online presence in job applications, the demand for professional resume writing services is expected to continue growing.
Table Global Outplacement Services Market Size and Share by Type in 2024
Type | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Outplacement | 1198.43 | 44.24% |
Career Development | 688.60 | 25.42% |
CV/Resume Writing | 463.31 | 17.10% |
Others | 358.57 | 13.24% |
5 Global Outplacement Services Market Size by Application
In 2024, the personal application segment is projected to generate a revenue of 581.28 million USD, accounting for 21.46% of the total market share. Personal outplacement services are designed to assist individuals who are seeking new employment opportunities. These services often include personalized career coaching, resume writing, interview preparation, and job search strategies. The demand for personal outplacement services is driven by the need for individuals to enhance their employability and navigate the job market more effectively. With the increasing complexity of the job market, individuals are increasingly seeking professional support to improve their career prospects.
The enterprise application segment is expected to contribute 2127.63 million USD to the market in 2024, representing 78.54% of the total market share. Enterprise outplacement services are designed to assist companies in managing workforce transitions, maintaining employer brand integrity, and ensuring a smooth transition for departing employees. These services often include comprehensive outplacement programs, career development initiatives, and strategic workforce planning. The demand for enterprise outplacement services is driven by the need for companies to manage organizational changes effectively while minimizing the impact on employee morale and productivity. Additionally, enterprises are increasingly recognizing the importance of investing in outplacement services to enhance their employer brand and attract top talent.
Table Global Outplacement Services Market Size and Share by Application in 2024
Application | Market Size (M USD) 2024 | Market Share 2024 |
|---|---|---|
Personal | 581.28 | 21.46% |
Enterprise | 2127.63 | 78.54% |
6 Global Outplacement Services Market Size by Region
The United States remains the largest market for outplacement services, with a projected revenue of 1048.64 million USD in 2024. The U.S. market is characterized by a high demand for professional career transition services, driven by the dynamic nature of the job market and the need for companies to manage workforce changes effectively. The U.S. market is also influenced by technological advancements and the increasing importance of employer branding. The growth in this region is expected to continue, supported by the ongoing need for comprehensive outplacement solutions.
Europe is the second-largest market for outplacement services, with a projected revenue of 816.44 million USD in 2024. The European market is characterized by a strong demand for career development and outplacement services, driven by the need for companies to manage organizational changes and maintain employee morale. The market is also influenced by regional economic conditions and the increasing importance of employer branding. The growth in this region is expected to be steady, supported by the ongoing need for professional career services.
China is a rapidly growing market for outplacement services, with a projected revenue of 206.3 million USD in 2024. The Chinese market is characterized by a high demand for career development services, driven by the rapid growth of the economy and the increasing need for professional career transition support. The market is also influenced by the increasing importance of employer branding and the need for companies to manage workforce changes effectively. The growth in this region is expected to be significant, supported by the ongoing economic expansion and the increasing demand for comprehensive career services.
Japan is another significant market for outplacement services, with a projected revenue of 180.95 million USD in 2024. The Japanese market is characterized by a high demand for career development and outplacement services, driven by the need for companies to manage organizational changes and maintain employee morale. The market is also influenced by the increasing importance of employer branding and the need for companies to manage workforce changes effectively. The growth in this region is expected to be steady, supported by the ongoing need for professional career services.
India is a rapidly growing market for outplacement services, with a projected revenue of 81.33 million USD in 2024. The Indian market is characterized by a high demand for career development services, driven by the rapid growth of the economy and the increasing need for professional career transition support. The market is also influenced by the increasing importance of employer branding and the need for companies to manage workforce changes effectively. The growth in this region is expected to be significant, supported by the ongoing economic expansion and the increasing demand for comprehensive career services.
Southeast Asia is an emerging market for outplacement services, with a projected revenue of 59.66 million USD in 2024. The Southeast Asian market is characterized by a high demand for career development services, driven by the rapid growth of the economy and the increasing need for professional career transition support. The market is also influenced by the increasing importance of employer branding and the need for companies to manage workforce changes effectively. The growth in this region is expected to be significant, supported by the ongoing economic expansion and the increasing demand for comprehensive career services.
Latin America is another emerging market for outplacement services, with a projected revenue of 97.01 million USD in 2024. The Latin American market is characterized by a high demand for career development services, driven by the rapid growth of the economy and the increasing need for professional career transition support. The market is also influenced by the increasing importance of employer branding and the need for companies to manage workforce changes effectively. The growth in this region is expected to be significant, supported by the ongoing economic expansion and the increasing demand for comprehensive career services.
The Middle East and Africa is an emerging market for outplacement services, with a projected revenue of 59.86 million USD in 2024. The Middle East and African market is characterized by a high demand for career development services, driven by the rapid growth of the economy and the increasing need for professional career transition support. The market is also influenced by the increasing importance of employer branding and the need for companies to manage workforce changes effectively. The growth in this region is expected to be significant, supported by the ongoing economic expansion and the increasing demand for comprehensive career services.
Figure Global Outplacement Services Market Size (M USD) by Region in 2024
7 Global Outplacement Services Market Analysis by Major Players
Adecco Group AG
Company Profile: Adecco Group AG, founded in 1971 and headquartered in Zurich, Switzerland, is a leading global provider of human resources solutions. With an extensive network of over 5,100 offices in 60 countries, Adecco Group AG offers a wide range of services, including outplacement, career transition, and workforce transformation.
Business Overview: Adecco Group AG specializes in helping companies transform their workforces to accelerate performance in times of constant change. They provide personalized and comprehensive organizational and talent consulting services to businesses and individuals worldwide. Their approach combines global scope with local expertise, ensuring tailored solutions for clients.
Product Offered: Adecco Group AG offers career transition and workforce transformation services, which include training and guiding employees through changes that require transition, helping them develop, upskill, and reskill, and identifying new opportunities.
2023 Financial Summary: In 2023, Adecco Group AG reported a revenue of 645.35 million USD, with a gross profit of 158.25 million USD and a gross margin of 24.52%. Their market share in the global outplacement services market was 25.74%.
ManpowerGroup
Company Profile: ManpowerGroup, established in 1948 and headquartered in Milwaukee, Wisconsin, USA, is a world leader in innovative workforce solutions. ManpowerGroup connects over 600,000 people to meaningful work across a wide range of skills and industries daily.
Business Overview: ManpowerGroup provides comprehensive outplacement services under the Right Management brand. They help organizations maintain productivity and reduce risk through transformation, while also assisting individuals in transitioning to new careers and opportunities.
Product Offered: ManpowerGroup offers Right Management services, which include career transition support, workforce optimization, and talent management solutions. Their outplacement services help employees navigate career transitions with personalized coaching and technology-driven platforms.
2023 Financial Summary: In 2023, ManpowerGroup reported a revenue of 557.50 million USD, with a gross profit of 104.09 million USD and a gross margin of 18.67%. Their market share in the global outplacement services market was 22.24%.
Mercer
Company Profile: Mercer, founded in 1945 and headquartered in New York, USA, is a global consulting leader in talent, health, retirement, and investments. Mercer helps organizations around the world build stronger, healthier, and more secure futures for their employees.
Business Overview: Mercer offers a comprehensive suite of outplacement services designed to help transitioning employees find new employment faster than the national average. They provide virtual career centers, social network integration, and personalized coaching to support individuals through career transitions.
Product Offered: Mercer’s outplacement services include virtual career centers, job alerts, social network integration, and one-on-one coaching. Their approach helps employees land new opportunities nearly three times faster than the national average.
2023 Financial Summary: In 2023, Mercer reported a revenue of 383.47 million USD, with a gross profit of 80.22 million USD and a gross margin of 20.92%. Their market share in the global outplacement services market was 15.30%.