Canada Outplacement Services Market Size By Type, By Application And Forecast

Canada Outplacement Services Market Size And Forecast

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Canada Outplacement Services Market size is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the year 2021-2028.

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The safeties against litigation, economic feasibility, mass hiring by companies, and frequent layoffs have been the major drivers behind the growth of the Canada Outplacement Services Market. The Canada Outplacement Services Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

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Canada Outplacement Services Market Definition

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Outplacement services are supplied by reputable organizations that are willing to support and provide services to persons who are leaving the business. Outsourcing agencies assist former employees in transitioning to new jobs and re-orienting themselves in the labor market, whereas a recruitment agency is a company that acquires new talent for open positions in the workforce. Outplacement services provide practical and emotional career coaching support, allowing a person to avoid the competitive job market and transition into a suitable new occupation as quickly as possible. Outplacement is a benefit provided by a firm to departing employees to order to help them find new employment.

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In most cases, a corporation hires an outplacement firm to provide outplacement services to affected employees, such as career counseling, advice, and assistance. While outplacement’s purpose of assisting employees has been constant, the service’s design has changed dramatically in recent years to fit organizations’ shifting needs. Companies generally provided career support to CEOs and upper-level employees in the form of a satellite office, phone, and assistant to assist them in their job search. Companies are now attempting to provide outplacement services to all affected employees at all levels of the organization, in order to better safeguard the brand reputation and support employees who have previously been underserved during times of transition.

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Furthermore, browser employees have learned to expect convenient outplacement services that are available at the touch of a button. Outplacement services are a broad category of services that assist people in finding new jobs, and they vary depending on the outplacement provider. Individual or group career coaching, cover letter, and resume building tools, resume review and editing, job interview practice and coaching, career interests and skills assessment tests, career-related guides, such as networking tips and personal branding, access to information and research about target companies, and social media profile optimization are just a few examples.

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Canada Outplacement Services Market Overview

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The growth of the Canada Outplacement Services Market is inversely proportional to the growth of the Outplacement Market. Employees are the ones who are most at risk of losing their employment when it comes to company lawsuits. Furthermore, if a country’s economic stability deteriorates, unemployment rates rise. For example, India is currently experiencing high unemployment as a result of COVID-19. Not only India, but many other economies are seeing an increase in unemployment as a result of the COVID-19 pandemic. According to a survey, almost 2.6 million people in the UK, or 8% of workers, anticipate losing their employment in the next three months, indicating that the coronavirus will cause long-term economic damage.

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The estimates include people who have already been notified they will be laid off, with young people and those on low incomes being the most vulnerable, according to the Resolution Foundation. According to the study, roughly 2 million people have been unemployed or on furlough for the past six months, putting them at greater risk. A separate survey by the British Chambers of Commerce indicated that a quarter of the 1,100 businesses polled are considering job layoffs if government assistance programs are terminated as scheduled. Various businesses have lost business as a result of the epidemic, and GDP growth has been considerably slowed.

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As a result, businesses have little choice but to lay off a large number of people. This is where outplacement services come in, and the causes outlined above are, however, there are some restrictions and hurdles that are hampering the market’s growth. Fraudulent businesses approach many unemployed people. Individuals who are unemployed fall prey to these schemes and lose money. Furthermore, privacy worries about employee data may hamper the Canada Outplacement Services Market expansion. Driving the expansion of outplacement services. Fraudulent businesses approach many unemployed people Hampers the market growth.

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Canada Outplacement Services Market: Segmentation Analysis

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The Canada Outplacement Services Market is segmented on the basis of Type, Application, And Geography.

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Canada Outplacement Services Market, By Type

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• Group Outplacement
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• Personal Outplacement

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Based on Type, The market is segmented into Group Outplacement and Personal Outplacement. The Group Outplacement segment is expected to reach the highest share during the forecast period due to the factors can be attributed to the outplacement services employed by large enterprises. These large-level enterprises employ the outplacement service agency for mass hiring and helping employees transit to their new jobs.

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Canada Outplacement Services Market, By Application

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• BFSI
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• IT & Telecom
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• Retail
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• Media & Entertainment
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• Government
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• Public Sector/Manufacturing/Healthcare

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Based on Application, The market is segmented into BFSI, IT & Telecom, Retail, Media & Entertainment, Government, and Public Sector/Manufacturing/Healthcare. IT & Telecom Service segment expected to reach at highest share during the forecast period. The UK Information Technology (IT) sector has proved its resiliency by continuing to thrive, and qualified individuals are required to keep the trend going. IT jobs may entail developing apps or systems, resolving technological issues, or assisting others who utilize technology. Graduates are also needed in the business, marketing, human resources (HR), and financial sectors by employers in the IT industry.

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Key Players

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The “Canada Outplacement Services Market” study report will provide a valuable insight with an emphasis on Canadian market including some of the major players such as Adecco, Ramstad Mercer, ManpowerGroup, Hays, Hudson Global Germany Inc, Prima Careers, Career Insight Group, Velvet jobs, Career arc Group Llc, Connor, Frederickson Partners, Career pro-Inc., Chiumento Limited.

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Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players.

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Report Scope

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To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Market Research.

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Reasons to Purchase this Report

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• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
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• Provision of market value (USD Billion) data for each segment and sub-segment
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• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
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• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
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• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
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• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
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• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
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• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
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• Provides insight into the market through Value Chain
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• Market dynamics scenario, along with growth opportunities of the market in the years to come
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• 6-month post-sales analyst support

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Customization of the Report

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