Australia Outplacement Services Market Size, Share, Trends, Opportunities, Scope & Forecast 2024-2032

Australia Outplacement Services Market Size And Forecast

Australia Outplacement Services Market size was valued at USD 197.97 Million in 2023 and is projected to reach USD 280.60 Million by 2030, growing at a CAGR of 5.5% from 2024 to 2030.

The Australia Outplacement Services Market is driven by factors such as employer safety, employee economic feasibility, customizable services, and frequent mass hiring and layoffs. Outplacement services provide numerous benefits, such as positive links with local businesses, improved resettlement rates, and a visible reminder of commitment and investment. The growing safety against litigations for employers and economic feasibility for employees are expected to be the major drivers to fuel the market for Outplacement Services in Australia over the forecast period. The Australia 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.

Australia Outplacement Services Market Definition

Outsourcing companies help former employees transition to new employment and re-orient themselves in the job market, whereas a recruitment agency is a sort of organization that acquires fresh talent for available positions in the workforce. Outplacement services offer practical and emotional specialist career coaching support and enable an individual to circumnavigate the competitive job market and move into a suitable new occupation as soon as possible. It also allows organizations to emphasize their dynamism in business operations rather than dissuade the sometimes-considerable time and energy needed to support leavers and the morale of the retained team. Outplacement is more than just finding a new job. It entails assisting all parties in passing through a period of significant difficulty in a controlled and supportive atmosphere, so minimizing present dangers and maximizing prospects.

The finest outplacement services offer terminated employees up-to-date outplacement training as well as top-tier job search counseling and career coaching to ensure that they are placed in their best employment as soon as possible. Furthermore, there are various advantages to using outplacement services. For example, outplacement services may frequently help with feelings of uneasiness, humiliation, resentment, or fear of the unknown, which make a job search that much more difficult. Furthermore, outplacement might reduce the legal risk of dealing with a wrongful termination complaint. It improves the morale of those who remain. Outplacement can also help to sustain goodwill. It helps to have a great working connection with employees who depart.

Australia Outplacement Services Market Overview

The growing safety against litigations for employers and economic feasibility for employees are expected to be the major drivers fueling the market for Outplacement Services in Australia over the forecast period. In addition to these, the rising customizable services and frequent mass hiring & layoffs have been driving the Australia Outplacement Services Market. The benefits offered by outplacement services are numerous for the organization. These services not only forge positive links with the local business community but also improve resettlement rates.

Besides, they provide a visible reminder to both, the departing employees and the remaining staff of the organization’s care & commitment, and investment in its departing employees. Economic downturns, company restructuring, mergers, and layoffs all have the potential to increase demand for outplacement services in Australia. During times of economic instability, businesses may aim to assist employees who are being laid off by providing outplacement services to assist them in transitioning to other job prospects. To remain competitive, Australian businesses frequently undergo restructuring, which might result in layoffs. Outplacement services are in high demand because they help leave employees with career transition, resume preparation, interview coaching, and job search aid. Offering outplacement services shows a commitment to employee well-being and can help a company’s reputation as a good employer.

Assisting layoffs may help retain strong connections with both outgoing and remaining workers, which is critical for company branding. On the other hand, risks of fraudulent agencies and privacy concerns might act as restraints for the overall market. Also, major factors such as Budget Constraints, Limited Awareness, In-House Human Resources, ad Employee Attitudes might strangle the growth of the Outplacement Services Market across Australia. Some larger organizations may have specialized HR departments that can potentially offer internal career transition help. This may decrease the need for external outplacement services.

Australia Outplacement Services Market Segmentation Analysis

The Australia Outplacement Services Market is segmented on the basis of Product and End-User.

Australia Outplacement Services Market, By Product

• Outplacement
• Career Development
• Redeployment
• HR Consulting and Training

Based on Product, the market is segmented into Outplacement, Career Development, Redeployment, HR Consulting, and Training. The Outplacement segment accounted for the largest market share in 2022 and is projected to grow with a significant CAGR by 2030. Outplacement is a company-provided employee perk for workers who have recently been laid off. Employers provide this service by assisting their departing workers in finding new jobs and re-entering the workforce seamlessly. It boosts their reputation. Outplacement programs demonstrate that a firm cares about its employees, which may reduce negative reactions when layoffs are announced. It reduces risk by lowering unemployment costs and increasing employee morale.

Australia Outplacement Services Market, By End-user

• Personal
• Enterprise

Based on End-user, the market is segmented into Personal and Enterprise. The Enterprise segment accounted for the largest market share in 2022 and is projected to grow at the potential CAGR during the forecast period. The demand for outplacement services is high across different Australian enterprises and growing over the forecasted period as Australia is a hub for all major national and international companies across the Pacific region. Professional Services, Consumer Goods, Retail Health Services, and Financial Services are the major and well-established industries in Australia. Moreover, Travel Insurance, Foreign Currency Exchange Services, Inbound Tour Operators, Wind Farm Construction, Online Travel Bookings, Gold and Other Non-Ferrous Metal Processing, and Airlines are the fastest-growing businesses across Australia.

Key Players

The “Australia Outplacement Services Market” study report will provide valuable insight with an emphasis on the market. The major players in the market are Outplacement Australia, Adecco Australia Pty Ltd., Randstad Australia, ManpowerGroup Australia, Hays Recruitment Agency Australia, Hudson Australia, Prima Careers, Career Insight Group, Velvetjobs, and Careerarc Group Llc., among others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

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 product benchmarking and SWOT analysis.

Key Developments

• In June 2023, Talent Solutions Right Management, a ManpowerGroup brand, launched PowerSuite Next for Career Transitions, a new digital solution for transforming and enhancing the outplacement experience and providing people with the best possible outcomes during their career transition.
• In October 2022, in the latest drive to expand the Australian Defence Force, the Australian Government has chosen Adecco Australia as its new recruiting partner. The contract is expected to go into effect on July 1, 2023.

Ace Matrix Analysis

The Ace Matrix provided in the report would help to understand how the major key players involved in this industry are performing as we provide a ranking for these companies based on various factors such as service features & innovations, scalability, innovation of services, industry coverage, industry reach, and growth roadmap. Based on these factors, we rank the companies into four categories as Active, Cutting Edge, Emerging, and Innovators.

Market Attractiveness

The image of market attractiveness provided would further help to get information about the product segment that is majorly leading in the Australia Outplacement Services Market. We cover the major impacting factors that are responsible for driving the industry growth due to the segment in the country.

Porter’s Five Forces

The image provided would further help to get information about Porter’s five forces framework providing a blueprint for understanding the behavior of competitors and a player’s strategic positioning in the respective industry. Porter’s five forces model can be used to assess the competitive landscape in the Australian Outplacement Services Market, gauge the attractiveness of a certain sector, and assess investment possibilities.

Report Scope