HCM Technology Value Matrix 2019
As more complex functionality has become standard among leading HCM vendors, they have looked to develop new capabilities to differentiate their offerings. All of this is underpinned by historically low unemployment and record labor participation, which increases the pressure on HR departments to find and retain talent. Over the past several years, vendors have expanded offerings for machine learning, as well as for smart recruiting and succession planning. Next on the roadmap is the expansion of modern on-demand pay offerings beyond the traditional pay-card market. The offerings will allow employees to access their earned pay when they need it. These features, among others, are helping organizations address employee shortages in the tight labor market.