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The $12 Billion Opportunity in HR Tech

๐—ง๐—ฎ๐—น๐—ฒ๐—ป๐˜ ๐—บ๐—ฎ๐—ป๐—ฎ๐—ด๐—ฒ๐—บ๐—ฒ๐—ป๐˜ is a large and growing challenge at many organizations, in particular when it comes toย lifescience or highly niches related segment.

“๐—ง๐—ฎ๐—น๐—ฒ๐—ป๐˜ ๐—”๐˜๐˜๐—ฟ๐—ฎ๐—ฐ๐˜๐—ถ๐—ผ๐—ป” providers are racing to roll out new offerings that can help business leaders and managers improve how they recruit, oversee, develop, and retain human capital. Many
๐—›๐—ฅ ๐˜๐—ฒ๐—ฐ๐—ต ๐˜€๐—ผ๐—ณ๐˜๐˜„๐—ฎ๐—ฟ๐—ฒ ๐—ฝ๐—น๐—ฎ๐˜†๐—ฒ๐—ฟ๐˜€ & ๐˜๐—ฒ๐—ฐ๐—ต ๐—ฑ๐—ถ๐˜€๐—ฟ๐˜‚๐—ฝ๐˜๐—ผ๐—ฟ๐˜€ that formerly specialized in a single aspect of the talent management value chain are building out more comprehensive offerings, and others are growing through consolidation. Dozens of companies are competing to expand their offerings, causing significant confusion in the market.

The last BCG survery emphasizes most pressing pain points:

๐Ÿ”ด Managing multipleย sourcingย functions, which leads to significant complexity
๐Ÿ”ด Planning processes that fail to identify theย #skillsย needed to meet future business requirements
๐Ÿ”ด Coordinating the ecosystem of variousย #upskillingย andย #reskillingย providers or solution

The next 18 to 24 months will be a critical window for providers to stake out their positions in this crowded and highly active market. ๐—ง๐—ต๐—ผ๐˜€๐—ฒ ๐˜๐—ต๐—ฎ๐˜ ๐˜‚๐—ป๐—ฑ๐—ฒ๐—ฟ๐˜€๐˜๐—ฎ๐—ป๐—ฑ ๐˜๐—ต๐—ฒ ๐—ป๐—ฒ๐—ฒ๐—ฑ๐˜€ ๐—ผ๐—ณ ๐˜๐—ต๐—ฒ ๐—บ๐—ฎ๐—ฟ๐—ธ๐—ฒ๐˜ ๐—ฎ๐—ป๐—ฑ ๐—ฑ๐—ฒ๐˜€๐—ถ๐—ด๐—ป ๐˜€๐—บ๐—ฎ๐—ฟ๐˜๐—ฒ๐—ฟ ๐˜€๐—ผ๐—น๐˜‚๐˜๐—ถ๐—ผ๐—ป๐˜€ to meet those needs will find the odds in their favor.

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