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Global HR & Recruitment Services Industry Data and Analysis
HR and recruitment companies rely on a business' desire to outsource the recruitment process and human resource management activities. Regulation, especially for temporary employees, can hamstring providers, as this makes it more difficult to operate. Liberal labor laws in developed nations have been essential to recruitment companies' growth, and large companies are now focusing on emerging markets as they undergo the same process. As the economy normalized following the pandemic and labor markets strengthened, businesses turned to outsourced recruitment services to bring in new hires. Even as rising inflation and aggressive rate hikes in the United States and Europe slowed hiring in 2022 and 2023, the industry turned towards temporary and contract staffing in high-growth markets in Asia. As a result, revenue is forecast to increase at a CAGR of 0.8% to $739.4 billion through 2025. In 2025 alone, industry revenue is forecast to pick up 3.3%.HR and recruitment providers rely on corporate profit and a low employment rate, which are bastions of strong economic growth. When corporate profit is high, businesses are more likely to reinvest those funds and expand their workforce, using HR and recruitment companies to do so. Businesses performing well will want to keep their employees focused on core functions instead of hiring. A low unemployment rate tightens the labor market and increases competition between businesses for workers. This benefits HR and recruitment companies, as finding the right employee is more difficult and time-consuming. Businesses will outsource these tasks instead of completing them themselves, to the benefit of HR and recruitment companies.HR and recruitment companies are poised for continued growth globally in the coming years. Economic expansion is expected to keep the labor market tight, even as economic risks persist and create uneven demand. These conditions will make outsourcing hiring tasks increasingly attractive to businesses seeking efficiency and expertise without expanding their internal teams. Crucially, the coming years will be defined by the global scaling of AI operations, with North America, Europe and Asia expected to see the fastest growth. Consequently, revenue is expected to expand at a CAGR of 3.0% to $857.7 billion through 2030, while profit margins will remain more or less unchanged as companies look to value-added services amid strong competition.
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What's included in this industry analysis
IBISWorld's research coverage on the Global HR & Recruitment Services industry includes market sizing, forecasting, data and analysis from 2016-2031. The most recent publication was released February 2026.
About this industry
What's this industry report about?
The Global HR & Recruitment Services industry operates under the industry code L6741-GL. Companies in the Global HR and Recruitment Services industry provide outsourced human resource and employment placement services. These services include selecting and placing permanent and temporary staff, employee leasing, listing employment vacancies and outsourcing management of personnel-related administrative functions, such as payroll and employee benefit administration. Related terms covered in the Global HR & Recruitment Services industry include outplacement, labor market liberalization, rpo, bric and attrition rate.
What's included in this industry?
Products and services covered in Global HR & Recruitment Services industry include Temporary placement, Permanent staffing and Managed services programme.
What companies are included in this industry?
Companies covered in the Global HR & Recruitment Services industry include Randstad and Adecco.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Global HR & Recruitment Services industry.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed products and service segmentation and analysis of major markets for the for the Global HR & Recruitment Services industry.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Global HR & Recruitment Services industry.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Global HR & Recruitment Services industry. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Global HR & Recruitment Services industry. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Global HR & Recruitment Services industry. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Global HR & Recruitment Services industry. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Global HR & Recruitment Services industry.
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Frequently Asked Questions
What is the market size of the Global HR & Recruitment Services industry in 2026?
The market size of the Global HR & Recruitment Services industry is $739.4bn in 2026.
How many businesses are there in the Global HR & Recruitment Services industry in 2026?
There are 914k businesses in the Global HR & Recruitment Services industry, which has grown at a CAGR of 5.5 % between 2021 and 2026.
How may import tariffs affect the Global HR & Recruitment Services industry?
The Global HR & Recruitment Services industry is unlikely to be materially impacted by import tariffs with imports accounting for a low share of industry revenue.
How may export tariffs affect the Global HR & Recruitment Services industry?
The Global HR & Recruitment Services industry is unlikely to be materially impacted by export tariffs with exports accounting for a low share of industry revenue.
Has the Global HR & Recruitment Services industry grown or declined over the past 5 years?
The market size of the Global HR & Recruitment Services industry has been growing at a CAGR of 0.8 % between 2021 and 2026.
What is the forecast growth of the Global HR & Recruitment Services industry over the next 5 years?
Over the next five years, the Global HR & Recruitment Services industry is expected to grow.
What are the biggest companies in the Global HR & Recruitment Services industry?
The biggest companies operating in the Global HR & Recruitment Services industry are Randstad and Adecco
What does the Global HR & Recruitment Services industry include?
Employment agencies or registries and Employment referral agencies or registries are part of the Global HR & Recruitment Services industry.
Which companies have the highest market share in the Global HR & Recruitment Services industry?
The company holding the most market share in the Global HR & Recruitment Services industry is Randstad.
How competitive is the Global HR & Recruitment Services industry?
The level of competition is high and increasing in the Global HR & Recruitment Services industry.
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