Corporate Assessment Services Market
One of the key factors driving the market expansion is the increasing number of young people looking for work as well as the rising number of businesses globally. The majority of business assessment services include employee training and professional development, which will increase demand for corporate assessment services. Additionally, the market demand for these services is rising as they assist businesses in cutting down on HR expenses linked to, among other things, recruiting, onboarding, training, and retention.
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Growing Adoption of Cognitive Assessment
The cognitive assessment evaluates a candidate’s capacity for quick learning, problem-solving, understanding original concepts, and goal-achieving. The tools enable the business to evaluate decision-making and critical thinking abilities in addition to logical reasoning. Cognitive or psychological assessments help organizations predict the performance of individuals in knowledge-based or vocational tasks across several industries. Thus, the growing adoption of cognitive assessment is expected to create an opportunity for the growth of the corporate assessment services market in the forecasted period.
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Corporate Assessment Services Market Report Segmentation Analysis
Key segments that contributed to the derivation of the Corporate Assessment Services Market analysis are product, application, hiring phase, and hiring level.
Based on product, the corporate assessment services market is segmented into cognitive, personality, knowledge, performance, company fit, and others. The on-premise segment held a larger market share in 2023.
Based on application, the market is segmented into campus recruitment, entrance assessment services, recruitment & promotion assessment services, and certification assessment services. The large enterprises segment held a larger market share in 2023.
Based on hiring phase, the market is segmented into pre-hire, and post-hire. The automotive segment is anticipated to witness significant growth in the forecasted period.
Based on hiring level, the market is segmented into executive, entry level, professional, and others. The automotive segment is anticipated to witness significant growth in the forecasted period.
Major Companies operating in the Corporate Assessment Services Market are:
Mercer LLC
KORN FERRY
AON
BIRKMAN INTERNATIONAL, INC.
SHL
Harrison Assessments
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