Helping hands: Steady corporate profit growth will drive demand for industry services, boosting revenue

The Human Resources and Benefits Administration industry in Canada has declined over the five years to 2017 due external competition and technological innovation, which have made it easier for companies to perform HR services in-house instead of outsourcing to industry operators. Over the five years to 2022, the industry is expected to turn a corner. Steady, consistent growth in corporate profit is expected to drive demand for outsourced HR services from more.

Industry Statistics & Market Size
Annual Growth 12-17
Forecast Growth 17-22
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • External competition and technological innovation have greatly impacted the industry
  • System innovations have made it easier for nonemploying companies to operate in the industry
  • In times of economic uncertainty outsourcing can seem like an expensive luxury to small business owners
  • Industry Report - Industry Investment Chapter

    The Human Resources and Benefits Administration industry in Canada is characterized by a low level of capital intensity. In 2017, for every $1.00 spent on labour, operators are expected to spend $0.02 on capital. Over the five years to 2017, operators in the industry have increased their reliance on technology to provide clients with more efficient and convenient human resources and benefits administration services. This includes taking advantage of proprietary integrated information systems that help store and retrieve data associated with human resources, benefits administration, regulatory compliance and risk management services. For...purchase to read more.

    Additional Insights for the Human Resources & Benefits Administration Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Human Resources & Benefits Administration Industry are

  • Access to quality personnel management
  • Accessibility to users
  • Ability to manage external contracts
  • IBISWorld analysts also discuss how external factors such as Corporate profit and Number of businesses in the Human Resources & Benefits Administration industry impact industry performance..

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    What's in this report

    What is the Human Resources & Benefits Administration Industry?

    This industry provides a range of day-to-day office administrative services to clients, such as assistance with financial planning, billing and record keeping, personnel, physical distribution and logistics. This industry also furnishes general or specialized management services on a day-to-day basis and on a contract or fee-for-services basis. These businesses do not provide any actual operating staff to clients to carry out management or operational activities.

    Industry Products
  • Human resources administration
  • Benefits administration
  • Regulatory compliance administration
  • Other office administration
  • Industry Activities
  • Administrative management services
  • Business management services
  • Executive management services
  • Hotel management services
  • Managing offices of dentists
  • Managing office of doctors, physicians and surgeons
  • Office management services
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Corporate profit
  • Number of businesses
  • National unemployment rate
  • Demand from finance and insurance
  • Demand from professional, scientific and technical services

  • Current Performance
  • Influx of sole proprietors
  • Broader economic volatility
  • Chart: Revenue Growth

  • Industry Outlook
  • Back to growth
  • Poststructural shift operations
  • Table: Human Resources & Benefits Administration Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Human Resources & Benefits Administration Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Mining In Canada
  • Retail Trade In Canada
  • Information In Canada
  • Finance and Insurance In Canada
  • Healthcare and Social Assistance In Canada

  • Key Selling Industries
  • Computer & Packaged Software Wholesaling in Canada
  • HR Consulting in Canada
  • IT Consulting in Canada
  • Wireless Telecommunications Carriers in Canada

  • Products & Services
  • Human resources administration
  • Benefits administration
  • Regulatory compliance administration
  • Other office administration
  • Chart: Human Resources & Benefits Administration Industry Products and Services Segmentation

  • Demand Determinants
  • Outsourcing levels
  • Employee and business growth
  • Legislation changes

  • Major Markets
  • Financial and professional services
  • Other
  • Retail and wholesale
  • Government and nonprofits
  • Manufacturing
  • Energy and resources
  • Life sciences and healthcare
  • Chart: Major Market Segmentation for the Human Resources & Benefits Administration Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Wages
  • Other costs
  • Chart: Cost Structure Benchmarking – Sector vs Human Resources & Benefits Administration

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Human Resources & Benefits Administration Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Human Resources & Benefits Administration Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Human Resources & Benefits Administration Industry
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Wages (2008-2022)
  • Corporate profit (2008-2022)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Benefits Administration
  • The creation and management of employee benefits.
  • Nonemployer
  • A small enterprise that does not employ any personnel (i.e. a self-employed company owner).
  • Third-Party Administrator
  • A company that processes certain aspects of employee benefit plans for another party.
  • What Our Customers Say

    Why buy this report?

    The Human Resources & Benefits Administration market research report provides key industry analysis and industry statistics, measures market size, analyzes current and future industry trends and shows market share for the industry’s largest companies. IBISWorld publishes the largest collection of industry reports so you can see an industry’s supply chain, economic drivers and key buyers and markets.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Human Resources & Benefits Administration:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Human Resources & Benefits Administration market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Human Resources & Benefits Administration, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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