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Procurement Market Intelligence Report
Human Resources Consulting
Sourcing Guide & Market Trends
Comprehensive intelligence for making smart purchasing decisions
Learn about actual and potential costs
How much should I pay for Human Resources Consulting?
What is the average price of Human Resources Consulting?
This procurement report includes pricing information to help you purchase Human Resources Consulting. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.
Has the price of Human Resources Consulting been rising or falling?
Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.
I’m not ready to purchase Human Resources Consulting yet. Will I pay more if I wait too long?
We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.
What other costs are associated with purchasing Human Resources Consulting?
Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Human Resources Consulting with a reduced risk of unexpected costs.
See how we display average pricing information, trends and market data.
Find the vendor to meet your needs
Where can I purchase ?
The four largest HR consulting firms are estimated to generate slightly less than 30.0% of total market revenue, indicating a low level of market share concentration that aids buyer power. Due to the relatively low barriers to entry associated with consulting work, many small HR consulting firms have been able... Subscribe to learn more.
Questions to ask potential suppliers
How can I gain leverage during negotiations?
Competition
How have travel restrictions brought on by the coronavirus hindered your ability to offer a high level of service?
How do you win and retain business? How long have you had your longest client?
What is your reputation among clients, and how have you developed it?
What is your reputation among your peers?
What do you consider to be best market practices in terms of switching providers?
What makes you stand out from the competition?
Value-Added Services
Does your firm specialize in HR consulting?
Do you provide any value-added services? If so, what other services do you offer?
How will including value-added services impact pricing?
Are you looking to expand upon your service offerings during the next three years? How so?
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Key elements for every RFP
What should my RFP include?
Project Budget
Buyers should specify their budget for human resources consulting services.
Buyers should list payment schedules.
Buyers should request detailed cost breakdowns for the services being requested.
Buyers can reference the Benchmark Price and Total Cost of Ownership sections of this report for assistance in creating a budget.
Selection Criteria
Buyers should evaluate vendors based on their methodology and the quality of their work plan.
Buyers should evaluate vendor qualifications, including individual consultants' qualifications and experience.
Buyers should consider references from previous clients to evaluate vendor reputation and customer service.
Buyers should also evaluate vendors based on cost.
For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.
Project Schedule
Buyers should outline when proposals must be submitted.
Buyers should communicate to prospective suppliers when bid awards will be posted.
Buyers should state when the consulting services should begin.
Buyers should outline the length and terms of the contract and the cancellation policy.
Evaluate major factors to mitigate risk
How risky is the supply chain?
The risk of input price shocks or discontinuity of service due to supply chain issues is low for HR consulting services, aiding buyer power. Suppliers in this market do not depend on critical inputs that could threaten the continuity of their operations. To provide services, HR consultants rely on computer... Subscribe to learn more.