New 2024 Fosway 9-Grid™ for Talent & People Success reveals a market showing continued resilience and a move beyond AI hype
Fosway Group, Europe’s #1 HR industry analyst, has released its latest 9-Grid™ for Talent & People Success. The research shows that despite economic the talent technology market remains resilient, with some providers achieving up to 100% revenue growth, driven by continued investment in employee experience and skills.
“The pace of innovation around the employee experience is huge, driven for many enterprises by the pursuit of to being a ‘skill-based’ organisation. The need to optimise resources and build the skills and capability for organisations to thrive in the future has been a huge catalyst for HR tech innovation over the past four years. Especially around AI- and intelligence-enabled processes. But what’s fascinating is that as much as how HR helps optimise people, there has also been a lot of innovation focused on how we energise work, energise people, energise culture and use intelligence to fuel the working relationships that deliver peak performance.” commented David Perring, Chief Insights Officer at Fosway Group and Lead Analyst on the 2024 9-Grid for Talent & People Success.
Key focus areas for Talent & People Success in 2024 include employee experience, AI-driven personalisation and workforce intelligence, as well as opportunity marketplaces, data integration and given its wide-reaching implications, ethical AI.
The 2024 Fosway 9-Grid for Talent & People Success incorporates both Talent Suites and Specialists. Talent & People Success Suites provide a range of talent functionality, from talent acquisition through to development, performance and employee wellbeing. Specialists provide a more focused set of functionalities within Talent & People Success for example, focusing on specific topics such as skills, talent mobility, or employee listening.
Fosway research into Talent & People Success this year also shows that continuous performance management has evolved beyond simple check-ins to include AI-powered coaching, real-time feedback, and integration with learning platforms, creating a holistic approach that supports individual growth and organizational goals. AI-driven performance tools now help managers and employees have more meaningful conversations, making performance management a more natural part of daily work rather than a tick box process.
“The direction of travel for the Talent & People Success Market is clear, and that is a move towards performance and personalisation for the employee, much of it driven by AI,” said David Wilson, CEO, Fosway Group. ”We are coming thankfully towards the end of the hype- and potential-centred era of AI discourse and into an age of practical, actionable and tangible benefits of the tech. We will continue to see it embedded everywhere, across the HR tech stack, powering improvements in skills, performance and employee experience.”
The full report can be downloaded online now: https://www.fosway.com/9-grid-2/talent-management-people-success/
Fosway’s CEO, David Wilson, and Chief Insights Officer, David Perring, will take questions in a live online ‘Ask The Analyst’ session on 24 October at 3pm BST. Register here for your free place today.