Human resources industry statistics show that this is a growing industry, estimated to grow even bigger in the following years.
Also, with the understanding of how big the industry is right now and how big it will be in the future, companies can prepare for the future.
Employees are one of the most important components of every business, and the HR department plays a big role here. On one hand, it helps find, screen, recruit and train those who apply for jobs. Moreover, HR also works on allocating employee benefit programs.
So, let’s find out about the statistics of the HR industry!
Human Resources Industry
Statistics (Editor’s Pick)
- The global human resources industry value exceeded $356 billion in 2010.
- The HR industry in the US is worth $65.6 billion in 2021.
- The global HR staffing services market was worth €213 billion in 2020.
12 Human Resources Industry Statistics
1. The global HR industry value is estimated to exceed $356 billion in 2010.
In 2010, the global HR industry was estimated to exceed the value of $356 billion. Also, between 2010 and 2015, the global human resources industry was expected to have an annual growth rate of 5%. By 2015, the industry’s value was supposed to exceed $454 billion.
Source: MarketLine
2. The global human resources management industry was valued at $17.56 billion in 2020.
According to statistics data from Grand View Research, the global human resources market was estimated at a value of $17.56 billion in 2020. Also, it is expected to grow bigger thanks to digitization and automation in the industry.
Source: Grand View Research
3. In 2021, the global human resources management market is expected to reach $19.38 billion.
The industry is expected to grow from $17.56 billion in 2020 to $19.38 billion in 2021. This means that HR is still a growing industry, despite the problems the pandemic has on global businesses.
Source: Grand View Research
4. The HR management market is estimated to grow at a compound annual growth rate of 12.2% from 2021 to 2028.
Between 2021 and 2028, the HR industry is expected to grow at an annual rate of 12.2%. This growth is possible because companies are retaining talent, effectively managing their resources, and attracting the right candidates.
Source: Grand View Research
5. By 2028, the human resources management industry is estimated to reach a value of $43.29 billion.
With an annual growth of 12.2% between 2021 and 2028, the human resources industry will reach a value of $43.29 billion by 2028. Moreover, this means that the market value would more than double between 2020, when it was $17.56 billion, and 2028.
Source: Grand View Research
6. The HR management market’s software component had a revenue share of 68%.
In 2020, HR software had a revenue share of 68% of the HR market. This is thanks to the high demand for HR technologies in companies’ endeavors to retain employees.
Source: Grand View Research
7. The demand for HR recruiting professionals has jumped by 63% since 2016.
From 2016 to 2019, the demand for recruiting professionals has jumped by 63%. This is according to LinkedIn statistics data from 2019. Furthermore, the same LinkedIn report expected the number to continue growing in the future, too.
Source: LinkedIn
8. The HR software market is estimated to have a value of $30 billion by 2025.
The HR software market is at a stage of growth. It is supposed to reach a value of $30 billion by 2025. Moreover, this is a growth of 9.4% by 2025.
Source: Grand View Research
9. In May 2020, the median annual wage for an HR manager was $121,220.
According to the US Bureau of Labor Statistics, human resources managers’ median annual wage was $121,220 in 2020. Moreover, the employment of human resources managers is estimated to grow 9% from 2020 to 2030.
Source: U.S. Bureau of Labor Statistics
10. In 2021, the market size of the HR and benefits administration industry in the US is $65.6 billion.
According to data statistics from IBIS World, the market size of the HR and benefits administration industry in the US is $65.6 billion in 2021. Moreover, in 2021, the market was expected to increase at a rate of 1.7%.
Source: IBIS World
11. The US HR industry market size is the 169th largest market size in the US.
In the US, the human resources and benefits administration industry is ranked 5th Administration, Business Support, and Waste Management Services industry. Overall, due to its market size, it is the 169th largest market size in the United States.
Source: IBIS World
12. In 2020, the staffing services industry market was worth €213 billion worldwide.
Compared to 2019, when the global staffing services market was worth €241 billion, the number went down in 2020. In fact, in 2020, it was worth €213 billion. The staffing services line had a share of over 50% of the HR services industry.
Source: Statista
Final Verdict
In conclusion, human resources industry statistics tell us about the value of the market, the value of its services, and more. While the industry is growing, there is always space left for improvement. With the help of HR statistics, companies can improve and learn what to focus on for better results. Likewise, human resource management statistics can also tell us about the state of HR leadership and more.
