Human Resources Management Software Business Research [Part 2]

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)

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.

Full list of vendors

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.

A collection of handpicked resources

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/