Market Analysis
published on Apr 15, 2024
Report Overview:
NelsonHall's market analysis of Multi-Process HR Transformation services and industry trends consists of 74 pages
Who is this Report for:
NelsonHall’s Multi-Process HR Transformation Services report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within the Multi-Process HR Transformation Service market
- Vendor marketing, sales and business managers developing strategies to target HR Multi-Process service opportunities
- Financial analysts and investors specializing in the Multi-Process HR Transformation Service market.
Scope of this Report:
The report analyzes the worldwide market for Multi-Process 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 Multi-Process HR Transformation Services market by industry sector?
- What are the top drivers for adoption of Multi-Process HR Transformation Services?
- What are the benefits currently achieved by users of Multi-Process HR Transformation Services?
- What factors are inhibiting user adoption of Multi-Process HR Transformation Services?
- What pricing mechanisms are typically used within Multi-Process HR Transformation Services and how is this changing?
- Who are the leading Multi-Process HR Transformation Services vendors globally and by geography?
- What combination of services is typically provided within Multi-Process HR Transformation Services contracts and what new services are being added?
- What is the current pattern of delivery location used for Multi-Process HR Transformation Services and how is this changing?
- What are the challenges and success factors within Multi-Process HR Transformation Services?
Key Findings & Highlights:
The broad HR environment is experiencing increased legislation with greater focus on AI governance, pay equity and pay transparency. The Multi-Process HR Transformation services market is experiencing the following key changes:
- Buyer demand driven by the need to digitalize processes, driving operational efficiencies whilst bringing the best experiences leveraging advances in technology offerings
- New offerings include support for higher impact HR best practices, in particular developing GenAI capabilities with a library of use cases and embedding GenAI into existing virtual agents. Investments were also made to develop AI governance models and growing consulting capability to support improved measurements with the aim of increasing the ROI
- Increasing capability to support transitioning on-premise to cloud migration strategies for SAP customers is a focus for vendors. Ongoing appetite to increase SAP consulting capability continues through acquisitions
- Market consolidation and geographical expansion continued, albeit slightly slower than in 2022, with ongoing efforts to address white spaces of offerings to recently added countries, so that standardized services are offered to all countries served
- Vendor proprietary HR platforms and apps and marketplaces continue to be enhanced
- Refined deployment and employee experience frameworks offering holistic HR transformations.
Whilst the start of 2024 saw some softening in the labor market in some sectors, the ongoing workforce shortages due to baby boomers retiring is a trend that started many years ago and over the medium to long term is not likely to be abating. As a result, the Multi-Process HR Transformation services market will focus on enhancing employee experience and engagement, as well as looking for efficiencies with greater digitalization, automation, and AI, specifically with GenAI capability.
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Multi-Process HR Transformation Services 2024
published 2024-04-17 | Project by Elizabeth Rennie