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aonhewitt.com

Founded Year

1940

Stage

Acq - P2P | Acquired

Valuation

$0000 

About Aon Hewitt

Aon Hewitt, fka Hewitt Associates, empowers organizations and individuals to secure a better future through talent, retirement, and health solutions. The Company advises, designs, and executes a wide range of solutions that enable clients to cultivate talent to drive organizational and personal performance and growth, navigate retirement risk while providing new levels of financial security, and redefine health solutions for greater choice, affordability, and wellness.

Aon Hewitt Headquarters Location

4 Overlook Point

Lincolnshire, Illinois, 60069,

United States

847-295-5000

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Latest Aon Hewitt News

Global HR Advisory Services Market Report 2022 Featuring Marsh & McLennan Co, Willis Towers Watson, Accenture, Aon Hewitt, & McKinsey & Co

Aug 17, 2022

This report describes and evaluates the global HR advisory services market. It covers 2016-2021, termed the historic period, and the forecast periods of 2021-2026 and 2026-2031. The global HR advisory services market reached a value of nearly $148.6 billion in 2021. The market is expected to grow from $148.6 billion in 2021 to $206.1 billion in 2026 at a rate of 6.8 %. The market is then expected to grow at a CAGR of 8.0% from 2026 and reach $302.8 billion in 2031. Growth in the historic period resulted from strong economic growth in emerging markets, increased mergers and acquisitions, globalization, and a rise in research and development (R&D) investments. Factors that negatively affected growth in the historic period were an increase in unemployment rate, the COVID-19 pandemic, privacy and security issues, and accounting scandals. Going forward, data analytics and AI, rising urbanization, technological advancements, and increasing focus on customer satisfaction will drive market growth. Factors that could hinder the growth of the HR advisory services market in the future include cyber security threats and higher costs. The HR advisory services market is segmented by type into compensation consulting, benefits consulting, actuarial consulting, and strategic and other consulting. The compensation consulting was the largest segment of the HR advisory services market by type, accounting for $ 59.9 billion or 40.3% of the total market in 2021. The benefits consulting market is expected to be the fastest-growing segment going forward at a CAGR of 7.3%. The HR advisory services market is segmented by service into integration and deployment, support and maintenance, and training and consulting. Support and maintenance was the largest segment of the HR advisory services market by service, accounting for $ 59.5 million or 40.1% of the total market in 2021. Training and Consulting market is expected to be the fastest-growing segment going forward at a CAGR of 7.0%. The HR advisory services market is segmented by end-user into IT services, manufacturing, financial services, mining and oil & gas, construction, other services and others. Financial services was the largest segment of the HR advisory services market by services, accounting for $ 40.7 billion or 27.4% of the total market in 2021. The financial services market is expected to be the fastest-growing segment going forward at a CAGR of 7.8%. North America was the largest region in the global HR advisory services market, accounting for 28.8% of the total in 2021. It was followed by Western Europe and Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the HR advisory services market will be Western Europe and Middle East, where growth will be at CAGRs of 10.4% and 8.3% respectively during 2021-2026. The global HR advisory services market is highly fragmented, with a large number of players in the market. The top ten competitors in the market made up to 2.0% of the total market in 2020. Major players in the market include Marsh & McLennan Companies Inc., Willis Towers Watson, Accenture, Aon Hewitt, McKinsey & Company, Boston Consulting Group, Korn Ferry, KPMG LLP, Bain & Company, and Deloitte Consulting LLP. The top opportunities in the HR advisory services market segmented by type will arise in the compensation consulting, which will gain $21.8 billion of global annual sales by 2026. The top opportunities in the HR advisory services market segmented by services will arise in the support & maintenance segment, which will gain $21.8 billion of global annual sales by 2026. The top opportunities in the HR advisory services market segmented by end use will arise in financial services segment, which will gain $18.5 billion of global annual sales by 2026. The HR advisory services market size will gain the most in USA at $14.4 billion. Market-trend-based strategies for the HR advisory services market include that HR advisory services companies are increasing emphasis on employee's mental health in HR advisory services due to several factors, such as anxiety, loneliness, effected social life, job insecurity. HR advisory services companies should increase reliance on data-driven insights to work out better results and increase the efficiency of employees. HR advisory services companies should increase new learning and development mediums to accelerate new ways to learn online. HR advisory services companies should increase micro surveys replacing lengthy surveys to garner quick, real-time insights from respondents. HR advisory services providers should focus on AI powered market research for reduced costs and faster delivery for efficient, accurate and low-cost data collection. Competitor strategies for the HR advisory services include expanding footprint and enhancing customer experience, growth strategy focused on expanding geographic presence, forming partnership with big companies, and strengthening business by investing more into business. To take advantage of the opportunities, this report recommends the HR advisory services companies to focus on new learning and development mediums, focus on improving HR decision making through data-driven insights, expand in emerging markets, focus on expanding through mergers and acquisitions, provide competitively priced offerings, implement dynamic pricing, promote consumer-focused products/services via social media, continue to focus on business-to-business (B2B) promotions, focus on partnerships with other companies and focus on fast-growing end-use industries. Key Topics Covered: 2. Table of Contents 8.1. Increasing Emphasis on Employees Mental Health 8.2. Reliance on Data-Driven Insights 8.3. New Learning And Development Mediums 8.4. Micro Surveys Replacing Lengthy Surveys 8.5. AI Powered Market Research For Reduced Costs And Faster Delivery 8.6. Increase In Development Of Employee Engagement Platforms 9. Impact Of COVID-19 On HR Advisory Services Market 9.1. Introduction 9.3. Impact On Organizational Culture 9.4. Impact On Rewards and Compensation 9.5. Impact Of COVID-19 Data-Driven Decision Making 9.6. Future Outlook 10.1. Market Size 10.2.1. Drivers Of The Market 2016 - 2021 10.2.2. Restraints On The Market 2016 - 2021 10.3. Forecast Market Growth, 2021 - 2026, 2031F Value ($ Billion) 10.3.1. Drivers Of The Market 2021 - 2026 10.3.2. Restraints On The Market 2021 - 2026 11. Global HR Advisory Services Market Segmentation 11.1. Global HR Advisory Services Market, Segmentation By Type, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion) 11.2. Global HR Advisory Services Market, Segmentation By Service, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion) 11.3. Global HR Advisory Services Market, Segmentation By End-User, Historic And Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion) 12. HR Advisory Services Market, Regional And Country Analysis 12.1. Global HR Advisory Services Market, By Region, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion) 12.2. Global HR Advisory Services Market, By Country, Historic and Forecast, 2016 - 2021, 2026F, 2031F, Value ($ Billion) Companies Mentioned

  • When was Aon Hewitt founded?

    Aon Hewitt was founded in 1940.

  • Where is Aon Hewitt's headquarters?

    Aon Hewitt's headquarters is located at 4 Overlook Point, Lincolnshire.

  • What is Aon Hewitt's latest funding round?

    Aon Hewitt's latest funding round is Acq - P2P.

  • Who are the investors of Aon Hewitt?

    Investors of Aon Hewitt include Aon.

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