PUBLISHER: QKS Group | PRODUCT CODE: 1637566
PUBLISHER: QKS Group | PRODUCT CODE: 1637566
This product includes two reports: Market Share and Market Forecast.
Quadrant Knowledge Solutions Reveals that Human Capital Management (HCM) Market is Projected to Register a CAGR of above average by 2028.
Human Capital Management (HCM) suites emphasize integrated management of workforce lifecycles to drive organizational effectiveness and strategic decision-making. These suites integrate diverse HR functions such as recruitment, onboarding, performance management, and learning and development into a cohesive platform. By leveraging a unified data repository, HCM solutions enable dynamic, data-driven HR management throughout the employee lifecycle. They facilitate collaboration and ensure data consistency across departments, fostering a seamless environment for managing personnel, processes, and organizational data. Moreover, advancements in artificial intelligence within HCM software enhance predictive analytics capabilities, allowing businesses to forecast talent needs, optimize workforce planning, and simulate scenarios for informed decision-making. AI-powered features also support knowledge management and automate routine HR tasks, thereby optimizing operational efficiency and driving continuous improvement in human resource strategies.
Quadrant Knowledge Solutions defines "Human Capital Management (HCM) software as a suite of tools and applications designed to effectively manage various aspects of human resources within an organization. It typically includes functionalities for recruitment, onboarding, payroll management, employee performance evaluation, learning and development, talent management, and workforce analytics. HCM software aims to streamline HR processes, enhance employee productivity, and optimize human resource utilization across the organization. It integrates data and processes to provide comprehensive insights that aid in decision-making and strategic planning related to workforce management."
Quadrant Knowledge Solutions Reveals that Human Capital Management (HCM) Projected to Register a CAGR of above average by 2028.
Human Capital Management (HCM) suites have seen significant growth driven by technological advancements and increased investments. This expansion is fueled by innovations such as artificial intelligence (AI), machine learning, and predictive analytics integrated into HCM solutions. These technologies are crucial across various industries including healthcare, finance, retail, and technology, where organizations seek streamlined HR processes, data-driven insights, and enhanced employee engagement. The adoption of HCM suites is further motivated by the need for optimized talent management, improved operational efficiencies, and compliance with regulatory requirements. As businesses prioritize agility and productivity, HCM software emerges as a cornerstone for shaping strategic HR initiatives and supporting sustainable growth.