HCM Technology Value Matrix 2021
In 2020, the HCM market faced a decline in customer numbers as some organizations have struggled to maintain steady payrolls and workforce headcounts. However, the space has also experienced increased demand as other organizations have faced sharp increases in in-person workplace safety requirements and challenges associated with managing a remote workforce. Leading HCM vendors have doubled down on time and capital investments in an effort to optimize ever-changing compliance demands and meet demand for enhanced employee support features. These providers have further differentiated themselves with the inclusion of quick and continued adaptation to the Paycheck Protection Program (PPP) and other employee protection programs that require advanced and flexible reporting functionalities for organizations.