My previous post was devoted to the first six of my 12 HR tech-buying guidelines. In this post I share the remaining six … but not before I take a moment to marvel at the juggernaut the HR tech marketplace has become.
First of all, it’s ginormous: Bersin by Deloitte has estimated the HR technology marketplace to be $400 billion. The worldwide investment in developing new HR tech exceeded $1 billion in the first half of 2018 and could exceed $2 billion in 2019.
Our marketplace is also highly complex: Applicant tracking systems alone number in the hundreds, to say nothing of the burgeoning artificially intelligent HR and recruiting technology providers, talent suites, point solutions and other platforms. Machine learning, natural language processing, artificial intelligence — all of these will affect the processing speed, accuracy and decision making in HR far more than we’ve ever imagined. From the buyer’s perspective, the growing array of HRMS, recruiting, performance management, payroll, people analytics and other offerings is nothing short of mind-boggling.
Given the sheer number and complexity of our options, it’s no wonder buying HR technology can seem like a daunting experience. But I’m determined to make your experience as rewarding as possible! Which brings me to the rest of those buying guidelines I promised…