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Liz is HR Technology and Services Research Director at NelsonHall, with global responsibility for key HR research projects including Cloud-Based HR Transformation, Cloud-Based Benefits Services, HCM Technology, EoR, Global Payroll and The Future of HR, as part of NelsonHall's wider HR Technology & Services practice.
meet & followNikki is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. Nikki covers HR services research in the areas of Recruitment Process Outsourcing (RPO), Managed Service Programs (MSP), Total Talent, and Learning.
meet & followJeanine is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. She has global responsibility for key HR areas including employer of record (EOR) and learning platforms.
meet & followDeeAnna is a Principal Research Analyst at NelsonHall and a member of the HR Technology & Services practice. She has global responsibility for key HR areas including HCM technology, workforce management, and health & welfare administration.
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Please visit NelsonHall's HRO Insight blog for further updates from our analysts daily
published on Sep 27, 2016
NelsonHall's market analysis of the payroll services outsourcing industry and payroll trends consists of 120 pages.
NelsonHall’s “Payroll Services” report is a comprehensive market assessment report designed for:
This report analyzes the global market for Payroll Services and its constituent services. The report addresses the following questions:
The payroll services market remains strong in 2015, with ~5.5% growth and an expected 5.8% CAAGR, reaching $21.8bn by 2020.
The payroll services market is relatively mature with standard providers supporting a wide range of processes from provisioning, technical support, processing and payroll management.
The payroll services market is being driven by the requirement for increased compliance across the scope of countries in which a client is operating, as well as by continued investments in cloud HR transformation initiatives to deliver increased process efficiency, thereby allowing internal resources to focus on more strategic and value add activities.
Payroll outsourcing is supported by the wider HR community’s drive towards implementing one single system of record across global employee populations; allowing clients to manage a mobile and disparate workforce is becoming increasingly important.
Vendors are continuing to invest the majority of their R&D revenues in technology. The largest investment in technology in 2015 and 2016 was in analytics, although other areas include user experience enhancements and integrations, as well as automation and RPA.
Payroll solutions are being increasingly bundled with time and attendance and HR admin offerings, to support transactional HR processes and alleviate admin heavy responsibilities from internal HR and payroll practitioners.
Traditional payroll aggregators are investing in in-country operations to improve competitive pricing and acquisitions continue improving geographical capability.
published 2016-10-18 | Project by Elizabeth Rennie