Hi there! My name is Vitalii Berdichevskyi, I’m a Product Manager. In a previous essay of the series I shared with you Performance Management Software industry research. In this essay I will share with you HR Management Software business research.
What you will find in the essay:
- Market definition/Description
- Key takeaways from Gartner Magic Quadrant
- Competitive landscape analysis
- A collection of handpicked links I used in the research
Market definition/Description
- HR Administrative Functions (Admin HR) — Include core HR (organizational, job and employee data, employment life cycle transactions, employee, manager, and role-based self-service access); benefits; and payroll administration. This may also include environmental, health and safety (EHS), grievance tracking, wellness, or other value-added capabilities.
- HR Service Management (HRSM) — Includes personalized direct access to policy, procedure and program guidance for employees and managers. It may also include integrated case management, knowledge base, digital document management, virtual assistants and chatbots.
- Talent Management (TM) applications — Include recruiting, onboarding, performance and engagement management, compensation planning, career and succession planning, learning and development, and workforce planning.
- Workforce Management (WFM) — Includes absence management, time capture, time and attendance evaluation, task/activities tracking, budgeting and forecasting, and scheduling. (Source: Gartner)
By 2025, 60% of global midmarket and large enterprises will have invested in a cloud-deployed human capital management (HCM) suite for administrative HR and talent management. However, they will still need to source 20% to 30% of their HCM requirements via point solutions.
(Source: Gartner)
(Source: Gartner)
Gartner Magic Quadrant
Key takeaways from Gartner Magic Quadrant for Cloud HCM Suites for 1,000+ Employee Enterprises:
- Mobile access is a fundamental part of HCM offerings
- User interface (UI) options for HCM suites continue to increase with the emerging availability of chatbots and/or virtual assistants
- Conversational UIs using virtual assistants such as Siri, Alexa or Google Home are also nascent, with low adoption. Mainstream adoption is unlikely to occur for five years.
- Shift to digital HR administration drives the need for compelling and personalized UX, as applications become the “face” of HR departments
- HCM suites are used primarily to manage regular full-time and part-time employees
(Source: Gartner)
Competitive landscape analysis
Below is a short table with vendors, focus, geo targeting, monthly visits and fundings.
A collection of handpicked links I used in the research
Below is the link to handpicked resources I have used in Google Sheet format.
What’s inside:
- Articles
- industry reports
- list of top HR tech influencers and many more.
To use filters you can easily make a copy of the file and save it to your Google Drive.
P.S. If you have any questions about the research or are in love with creating products - please feel free to ping me on Facebook or LinkedIn.
Previously published at https://lampovoeit.space/hr-management-software-business-research-part-2-4/