Market Analysis
published on Jul 26, 2017
Report Overview:
NelsonHall's market analysis of the multi-process HR services industry and multi-process HR services trends consists of 77 pages.
Who is this Report for:
NelsonHall’s “Next Generation Multi-Process HR Services: Intelligent Technologies v. Cloud Based HR Services” report is a comprehensive market assessment report designed for:
- Sourcing managers investigating sourcing developments within HR BPS
- Vendor marketing, sales and business managers developing strategies to target BPO service opportunities within HR BPS
- Financial analysts and investors specializing in the IT services and HR BPS sector.
Scope of this Report:
The report analyzes the global market for multi-process HR services and addresses the following questions:
- What are the top drivers for adoption of multi-process HR services?
- What are the benefits currently achieved by users of multi-process HR services?
- What factors are inhibiting user adoption of multi-process HR services?
- What is the average contract length for multi-process HR services, and how is this changing?
- What pricing mechanisms are typically used within multi-process HR services and how is this changing?
- What is the market size and projected growth for the global multi-process HR services market overall and by geography?
- What is the profile of activity in the global multi-process HR services by industry sector?
- Who are the leading multi-process HR services vendors globally and by geography?
- What combination of services is typically provided within multi-process HR services contracts, and how is this changing?
- What is the current pattern of delivery location used for multi-process HR services, and how is this changing?
- What new developments have occurred in the last year and how is this changing?
- What are the challenges and success factors within multi-process HR services?
Key Findings & Highlights:
The current multi-process HR services market is declining due to the adoption of cloud based HCM platforms, with the modern approach to buying including an emphasis on either intelligent technologies or cloud based HR services.
Top drivers of the intelligent technology approach to multi-process HR services include improving process controls and driving efficiency, streamlining HR processes through automation to reduce process duplication, and obtaining greater transparency and visibility through advanced analytics. The top inhibitors include organizations seeking to address larger transformational issues first, and lack of buy-in from upper management.
With respect to the cloud based HR services approach to multi-process HR services, the top drivers include technology transformation to a more manageable model; lack of time, skills, or expertise to operate internally in a HR cloud environment; and improved compliance and risk management. The top inhibitors include a desire to ride out previous investments in technology, and the impression that cloud HR software is so intuitive that organizations can manage/operate it internally.
One characteristic of current buyers purchasing modern multi-process HR services is organizations which are ready for a major technological transformation to the cloud, often bundling other cloud based HR services in the deal.
The majority of multi-process HR services contracts focus on incorporating other HR processes outside the core bundle of payroll and workforce administration services, with an average of three services in scope.
Vendor developments around intelligent technologies include further RPA capabilities, machine learning, chatbots, and advanced analytics, whereas vendor developments around cloud based HR services include expanding HR service support offerings and launching technology tools/platforms to supplement cloud HCM platforms.