Human resource consulting is an $18.4 billion industry (as
of 2006) that has emerged from management consulting and addresses human
resource management tasks and decisions. HR Consultants are responsible for
assisting clients with strategically integrating effective HR processes,
programs and practices into their daily operations. Their role is also to maximize
the client's performance related to human resources by introducing or marketing
"best practice" products or services as well as to provide periodic
feedback to clients regarding their performance related to annual management
objectives. To accomplish this, the HR Consultant may need to perform needs
assessments or audits and make recommendations or proposals, coordinate the
creation and implementation of an action or corrective plan, and when required,
organize and coordinate cross-functional Human Resource teams to assist the
client with developing and implementing performance improvement corrective
plans, programs or processes. The following are core fields around which most
HR consultancies are based:
- Human Capital, including remuneration (also called total rewards), employee rewards and incentive programs, and talent acquisition and management
- Health & Benefits; i.e., orchestrating optimal employee health plans with the carriers themselves
- Mergers & Acquisitions, examining fit across culture, job-type, and transaction costs, etc.
- Communication, including surveying employee attitudes, satisfaction, engagement, and other employee behaviors
- Retirement
- Recruitment process outsourcing
- Services may also include legal counseling, global initiatives, investments consulting, and the implementation of HR technologies to facilitate human capital management. The HR consulting industry also employs more actuaries than any other in order to assist in their services.