K-12 Talent Management Software Market in the US 2016-2020
About Talent Management Software
Talent management software is an application that provides a complete set of tools to organizations to automate, monitor, and analyze various HR functions efficiently. Moreover, the software assists the HR department in better talent acquisition activities, effective retention, and career succession planning strategies. Therefore, talent management applications have been gaining prominence in institutions as well.
Technavio’s analysts forecast the US K-12 talent management software market to grow at a CAGR of 14.57% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the US K-12 talent management software market for 2016-2020. To calculate the market size, the report considers the revenue generated by the talent management software providers for the K-12 education market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – US K-12 Talent Management Software Market 2016-2020
Technavio recognizes the following companies as the key players in the US K-12 talent management software market: Cornerstone OnDemand, Halogen Software, and PeopleAdmin.
Other Prominent Vendors in the market are: Ellucian, IBM, iCIMS, Infor Global Solutions, Oracle, SAP SE, SumTotal Systems, and Workday.
Commenting on the report, an analyst from Technavio’s team said: “The increased use of smartphones for talent acquisition is a major trend in the market. At present, smartphones and tablets are being used by job applicants to access job-related information. Candidates are increasingly using these devices to connect with recruiters anytime and anywhere. With an increase in the adoption rate of smartphone and tablets, vendors are launching applications that could be used for employment opportunities by candidates at their convenience. Halogen Software started one of its offering Halogen Mobile, which is a mobile intranet integrated with social networking capabilities, including chat. This helps users manage goals, employee directories, and provide feedback in real time.”
According to the report, rising need for streamlining HR functions will be a key driver for market growth. The HR division in educational institutions typically manages staffing, compensation, training, benefits, welfare, and appraisals manually. As a result, various errands pile up and the amount of paperwork increases, which consequently affects the overall productivity of an institution.
Further, the report states that budgets allocated to public schools in many states in the US such as Oklahoma, Alabama, Arizona, and Kansas have been declining every year. According to the Centre on Budget and Policy Priorities 2014 analysis, over two-thirds of the states in the US have provided less per-student funding for K-12 education for the fiscal year 2014 when compared with the funding in 2008. This was due to the 2007-2009 economy recession, and also continuous difficulty in economic conditions created by government measures to reduce public expenditure in many states. This deficiency in budgets is creating a major challenge in the implementation of diverse equipment and solutions in schools and institutions.
Cornerstone OnDemand, Halogen Software, PeopleAdmin, Ellucian, IBM, iCIMS, Infor Global Solutions, Oracle, SAP SE, SumTotal Systems, and Workday.
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