Market Analysis
published on Oct 31, 2022
Report Overview:
NelsonHall's market analysis of New World Workforce Management services and industry trends consists of 70 pages
Who is this Report for:
NelsonHall’s New World Workforce Management report is a comprehensive market assessment report designed for:
- Sourcing managers monitoring the capabilities of existing suppliers of Workforce Management and identifying vendor suitability for Workforce Management RFPs
- Vendor marketing, sales, and business managers looking to managers developing strategies to target service opportunities and benchmark themselves against their peers
- Financial analysts and investors specializing in the Workforce Management services sector.
Scope of this Report:
The report analyzes the worldwide market for Workforce Management and addresses the following questions:
- What is the market size and projected growth?
- What is the profile of activity in the Workforce Management market by industry sector?
- What are the top drivers for adoption of Workforce Management services?
- What are the benefits currently achieved by users of Workforce Management?
- What factors are inhibiting user adoption of Workforce Management software?
- What pricing mechanisms are typically used within the Workforce Management market and how is this changing?
- Which are the leading Workforce Management services vendors globally?
- What combination of services is typically provided within Workforce Management offerings and what new services are being added?
- What is the current pattern of delivery location used for Workforce Management and how is this changing?
- What are the challenges and success factors within the Workforce Management market?
Key Findings & Highlights:
The workforce management market is adjusting to a post-pandemic era, specifically as relates to shift and deskless workers, to support flexible workforce needs and employee engagement. There is a strong focus on digitized offerings, an improved use of automation to better manage the speed of business change, and enhanced AI and Machine Learning-based analytics.
The report discusses several key industry market developments:
- The market experienced significant consolidation with several acquisitions, including Huapii and Aditro by SD Worx, Aladtec by TCP, and Great Places to Work by UKG
- Improved compliance, labor planning, and cost management becoming key benefits
- The top characteristics of a transformed Workforce Management function are adaptability and the ability to support a flexible configuration. Buyers continue to look to providers for industry best practices as well as innovation that aids long-term business goals
- Employee engagement tools were a key development focus in 2022, providing the democratization of workplace practices and more robust communication functionality. AI-driven enhancements enabled advanced scheduling capability across vendors through recommendation engines and automated scheduling and approvals.