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Cloud HR Transformation Services 2023

Market Analysis

by Elizabeth Rennie

published on Apr 28, 2023

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Report Overview:

NelsonHall’s market analysis of the Cloud HR Transformation Services market consists of 56 pages

Who is this Report for:

NelsonHall’s Cloud HR Transformation Services report is a comprehensive market assessment report designed for:

  • Sourcing managers investigating sourcing developments within the Cloud HR Transformation Services market 
  • Vendor marketing, sales, and business managers developing strategies to target HR cloud service opportunities
  • Financial analysts and investors specializing in the Cloud HR Transformation Services market.

Scope of this Report:

The report analyzes the worldwide market for Cloud HR Transformation services and addresses the following questions:

  • What is the market size and projected growth by geography?
  • What is the profile of activity in the Cloud HR Transformation Services market by industry sector?
  • What are the top drivers for adoption of Cloud HR Transformation services?
  • What are the benefits currently achieved by users of Cloud HR Transformation services?
  • What factors are inhibiting user adoption of Cloud HR Transformation services?
  • What pricing mechanisms are typically used within Cloud HR Transformation services and how is this changing?
  • Which are the leading Cloud HR Transformation Services vendors globally and by geography?
  • What combination of services is typically provided within Cloud HR Transformation Services contracts and what new services are being added?
  • What is the current pattern of delivery location used for Cloud HR Transformation services and how is this changing?
  • What are the vendor challenges and success factors within Cloud HR Transformation services?

Key Findings & Highlights:

2022 was another disruptive year characterized by inflationary pressures, supply constraints, climate impact events, low-growth or zero-growth economies, tight labor markets despite an element of demand softening, industrial action, attempts to normalize the office–work-from-home dynamic, and for many the good news of a return to travel and full lifting of COVID restrictions.

To support business strategies and address changing social attitudes and updated priorities, HR functions focused on further developing DEI and ESG programs, enhancing analytics alongside growing investments in the development of personalized employee experiences, embedding collaboration tools into HR processes, and geographical expansions.

Against the backdrop of ongoing legislative changes, increased operational costs, and high turnover rates, there was an overall recognition of the benefits of addressing pay inequity and supporting greater pay transparency to attract workforce participation. These pressures are expected to continue despite slowing employment growth predictions, as the availability of key skills remains tight.

Cloud HR Transformation vendors are focusing on the following activities:

  • Investing in engagement platforms, analytics, automation, and chatbots; however, the adoption of chatbots across buyers of Cloud HR Transformation services is still nascent
  • Undertaking geographical acquisitions, mainly across Europe and Asia Pacific, and pursuing technology acquisitions to enhance talent solutions
  • Expanding HR services to enrich the training and development of HR practitioners.

For vendors offering a global HR service, they increasingly have a technology-agnostic approach and are investing in engagement and collaboration solutions.

For vendors with a technology preference, they tend to have a country or regional focus from which new developments are launched and tested in the largest region prior to rollout across other regions.

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