The recruiting and talent acquisition space is rapidly growing as HR teams look for ways to operate more effectively throughout the talent lifecycle, from skills and engagement to talent mobility, according to Fosway Group’s 2022 9-Grid for Talent & People Success.
“There is a huge focus on skills and upskilling the workforce, improving employee experiences and making the workforce more flexible to meet the future needs of the business,” said David Perring, the analyst firm’s director of research. “Macro-economic challenges will accelerate this further, accelerating innovation as well as increasing the value of attracting and retaining the best talent.”The recruiting and talent acquisition space is rapidly growing as HR teams look for ways to operate more effectively. @Fosway #HR #HRTech Click To Tweet
Fosway Group’s research shows that employee experience continues to be a major driver of HR buying decisions. At the same time, only 26% of HR professionals believe their systems are effective in today’s environment.
Artificial intelligence and its ability to personalize the employee experience has become a major differentiator in the market, Fosway said. Meanwhile, AI tools are helping to provide a unified people experience across multiple systems.
Where the Action Is
Fosway said innovation is taking place in engagement, culture, skills intelligence and employee listening. Solutions providers are also focused on developing AI capabilities that can support employers as they try to become more agile and resilient.
In addition, the research revealed a continual replacement of outdated talent management processes with new approaches and technologies. Vendors are pursuing solutions that provide a personalized employee experience based on individual skills and aspirations, as well as supporting the workforce with greater talent mobility and the future skills needed for success.
“From a customer perspective, there is an increasing amount of choice in the market, with increasing numbers of specialist providers offering new approaches and transforming the employee experience,” said Fosway Group CEO David Wilson.
“This means that the HR ecosystem is now more complex and important than ever. Buyers must understand how effective different providers will be as a part of their HR strategy, because it will be the ecosystem as a whole that will drive the impact and transformation they are seeking,” he said.