SMB HCM Technology Value Matrix 2024

March 19, 2024 - Value Matrix Y29

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The increasing maturity of HR practices among small and midsized businesses (SMBs) has led to a rising demand for advanced Human Capital Management (HCM) capabilities typically reserved for larger enterprises. Consequently, SMB-focused HCM vendors have worked to close functionality gaps through R&D, mergers, acquisitions, and partnerships to meet evolving requirements. Leaders in the space have introduced AI and machine learning-driven features in core areas, such as talent acquisition and people analytics. Ease of use is vital for SMBs, prompting vendors to enhance usability and take more end-user feedback into account when developing capabilities.

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Nucleus Research names HiBob, isolved, Paycor, Rippling, and UKG Ready as leading providers of SMB human capital management (HCM) technology.