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European HCM and Payroll Applications Forecast, 2023-2027

Publisher IDC
Published Jul 18, 2023
Length 21 Pages
SKU # IDC18071156

Description

European HCM and Payroll Applications Forecast, 2023-2027


This IDC Market Forecast provides analysis and sizing of the European human capital management (HCM) and payroll management applications market for 2020–2022 and forecasts for 2022–2027. The study segments the combined HCM and payroll management applications market in Europe by function (HCM and payroll), deployment model (software as a service and on premises/other), and country and subregion (Western Europe and Central and Eastern Europe)."HR departments already have or will soon be in possession of a veritable goldmine of data due to the digitalization of HR processes. The potential of this data remains largely untapped due to a lack of analytics capabilities and outdated systems. To transition effectively to data-driven entities, HR units should harness technology that enables strategic data utilization. The shift toward data-centric operations will elevate the role of HR, transforming it from a support function to a strategic partner within businesses. Data-driven insights will become increasingly crucial as companies compete to attract and retain top talent. This evolution, empowered by technology, positions the HR department at the heart of strategic decision making." — Senior Research Analyst Ivan Oz, Software, IDC Europe

Please Note: Extended description available upon request.

Table of Contents

21 Pages
IDC Market Forecast Figure
Executive Summary
Advice for Technology Suppliers
Support Emerging AI Use Cases
Facilitate New Approaches for Underserved Employee Groups
Support Agile Organizations and Cross-Functional Collaboration
Market Forecast
Market Context
Drivers and Inhibitors
Drivers
European Organizations' Employee Attraction Issues
Developing a Data-Driven Strategic HR Department
EU GDP Growth
Inhibitors
Russia-Ukraine War: No End in Sight
Significant Market Developments
Employee Experience Tops HR Agendas
Niche Vendors Claim Market Share Through Innovation and Specialization
Industry Leaders Forge Strategic AI Partnerships
Changes from Prior Forecast
Market Definition
Human Capital Management (HCM) Applications
Core Human Resources Applications
Talent Management Applications
Talent Acquisition Applications (Recruiting)
Compensation Management Applications
Employee Performance Management Applications
Learning Management Applications
Workforce Management Applications
Payroll Management Applications
Methodology
Forecast Information Sources
Forecasting Process
Company-Level Data Collection
Exchange Rates
Additional Notes
Related Research

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