ELM Platforms - Trends
To identify 2 - 3 trends surrounding the employee lifecycle management software market globally.
- The employee lifecycle management (ELM) software market is currently being driven by the increasing adoption of technology and automation by various industry verticals.
- According to a recent report by Cision, companies are increasingly relying on technology and automation provided by ELM to not only discover but also hire and retain employees.
- The information technology (IT) industry and the telecoms industry are the top adopters of ELM and human resources platforms globally. However, the healthcare industry is expected to surpass those two industries in terms of usage by 2025, due to increasing demand to acquire and retain top talents in the industry.
- Another significant trend influencing the growth of ELM platforms is the increase in the adoption of cloud-based software by companies. The trend involves migrating from physical infrastructure and servers in favor of cloud SaaS platforms, which offer scalable and robust services.
- In addition, the shift towards self-service and automation has allowed human resources departments (HRs) to put more resources into specialized functions such as benefits administration, leave management, and employee relations, freeing up routine tasks for more important purposes.
Proposed next steps:
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We are proposing research to identify more expected trends for the employee lifecycle management (ELM) software market. Specifically, we will be identifying 2-3 key future trends expected for the ELM market globally. This could include predicted disrupters, innovations, format changes, consumer behaviors, or any other trends which may greatly affect the industry in the next 3-5 years. For each trend, we will describe the trend, defend why it's considered an expected trend, and give details of 1-2 entities already or expected to exemplify the trend.
In line with the goals of your project, we are also suggesting research to determine the top 3 - 5 ELM platforms in the US based on usage. For each, we will provide a brief description of the service, outline its unique value proposition, and determine the platform's overall consumer rating/ranking.