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.
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