Identified, a San Francisco-based data and analytics company recently released a broad visual guide of over 200 software and services that support the ever-expanding HR and Recruitment industries. Breaking the marketplace down into several broad areas that represent the HR management process cycle, it’s quick to see how several big-name players overlap in their service offerings in Workforce Planning, Requisition Management, Sourcing, Onboarding, Interview Management, and Applicant Tracking.
While 200 technology providers may look like a lot, the full spectrum of HR automation technologies is even vaster. The report gives a visual peak into some of the broader trends in the marketplace that were touched upon in a recent Forbes’ piece. Large enterprise HR software platforms are aging, with more than half of large company providers over 7 years old, and many professionals are looking to transition to simpler cloud-based solutions that help consolidate multiple applications. Although only 13% of organizations currently have a single HR system in place, nearly half of surveyed company representatives said they would be willing to transition to a single vendor solution. The common trend of having a divided software solution for each step of the sourcing, hiring, onboarding, and personnel management process may be slowly weaning out of fashion.
Berspin’s report in Forbes estimates that out of 55 – 60 million corporate HR software seats already sold, there are nearly 400 million open seats up for grabs. New emerging categories in the space, such as social recruiting and big data analysis, offer even more potential for new software. And the market is huge – numerous annual conferences and trade publications are dedicated exclusively to HR Technology to provide insight into the best new trends, services, and strategies.
Talener is at interesting crossroads with the HR Tech market. In addition to placing candidates at some of the tech companies on Identified’s report, we offer talent solutions to the Human Resources professionals, technical managers, and employees who actively use these platforms on a day-to-day basis.