Since the evolution of traditional HRIS into modern Cloud HCM suites and now into Cloud HR Ecosystems, the HR tech market has changed for good. Accelerated by the impact of COVID-19, the idea that HR’s role and impact can be managed by a single system of record is increasingly outdated. Whilst HCM suites continue to rise in capability and importance, so does the role of specialist HR solutions to disrupt and transform key processes, both functionally and geographically (especially in complex companies). A new ecosystem approach brings suites and specialists together to build a truly global capability to transform people outcomes and experience.
The 2020 Fosway 9-Grid™ for Cloud HR is the first of its kind, widening the lens to incorporate both Cloud HCM Suites and Cloud HR Specialists. HCM Suites cover a wide array of traditional and next-gen approaches to people management, employee experience and old and new talent processes. The Cloud HR Specialists, however, unashamedly focus on specific areas of capability with a disruptive and high impact agenda. They have a focused proposition and want to lead the market in their chose area.
This year’s analysis therefore includes numerous new players and big movers, ranging from exciting, fast-paced challengers to welcome innovation within big HR tech incumbents. As always, the focus of the 9-Grid™ is on the European market. With input from Fosway’s Corporate Research Network of over 250 organisations, its aim is to demystify the supply options available to organisations and help HR teams make better buying decisions when it comes to investing in their technology solutions.
David Wilson, CEO of Fosway Group, said ‘It’s a massive understatement to say that COVID-19 has created extraordinary pressure on HR and for HR processes to become fully digital. But in the most challenging of circumstances, we are seeing HR adapt, evolve and flex to meet next levels of demand and flexibility. With all this change, it is definitely the right time to reclassify our analysis and the Fosway 9-Grid™ for Cloud HR to reflect this innovation, market disruption and shifts in buying behaviour from HR teams across Europe.’
He continues, ‘People are working differently now. The digital genie is out of the bottle and things aren’t going to back to the way they used to be, either in terms of working patterns or the importance of great technology to help get things done. Our research shows a strong correlation between digital HR maturity and the ability to adapt and cope with the pandemic. But much of that change has been focusing on surviving. Just keeping the lights on. HR now needs to raise its game again to enable organisations to thrive and grow again post-pandemic. The pandemic has blown away barriers to digital disruption and we hope this year’s research will be more useful than ever in helping HR figure out which solutions they need for their unique context.’
Fosway’s CEO, David Wilson, and lead analyst for HCM, Sven Elbert, will take questions in a live online ‘Ask The Analyst’ session on 5th October 2020. Register for your free place online today.