Cirencester (UK), October 2021 - Fosway Group, a leading European HR industry analyst, has released its new 2021 9-Grid™ for Cloud HR. The research shows the importance of people experience, as organisations prioritise workforce-centric human capital management (HCM) strategies to drive organisational success beyond the Covid-19 pandemic.
Last year's 9-Grid™ for cloud HR story was of turmoil and crisis management. That has been replaced this year by a focus on delivering exceptional people experience, delivered through an ecosystem of cloud HCM Suites and cloud HR Specialists. HR teams have raised their game, developing innovative strategies to support fast-changing business agendas, as well as charting a path beyond the pandemic. As a result, vendors have also grown their revenues and customer base at rates of 25% and more in many cases.
Putting the human experience at the heart of the HCM strategy is driving new ways of working, from moving HR processes into the flow of work to rapid internal mobility, enabling the right people to work in the right areas of the business at the right time. The 9-Grid™ analysis shows that HR is focused on delivering change in a more human way - by listening to employees and engaging around wellbeing. Wrapping a people experience layer around HCM activities is helping HR leaders extend their impact by connecting HR to talent and learning.
The 2021 Fosway 9-Grid™ for cloud HR incorporates both cloud HCM suites and cloud HR specialists. HCM suites cover a wide array of traditional and next-gen approaches to people operations, talent processes, and employee experience. Cloud HR specialists 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 chosen area.
This year's analysis includes new players, challengers, as well as innovation within the big HR tech incumbents. As always, the focus of the 9-Grid™ is weighted towards European and international buyers. With input from Fosway's Corporate Research Network of over 250 enterprise organisations, its aim is to demystify the supply options available to companies and help HR teams make better buying decisions when it comes to investing in technology solutions.
David Wilson, CEO of Fosway Group, observed, "If last year's 9-Grid™ was a story of crisis management and digital acceleration, this year's is about evolution. HR has raised its game significantly, and we see emerging HCM strategies that are more workforce and human centred. The focus now is on innovation and growth, but the context is challenging, as organisations look to reskill and realign themselves to seize new opportunities in a post-pandemic world."
He continued, "Organisational innovation is being matched by innovation amongst technology vendors. Cloud HCM Suites are innovating their capability to support these shifts in HCM strategy, and combined with cloud HR Specialists, they deliver a higher quality people experience. As a result, the ecosystem gets stronger as well as more diverse. The priority is to create an HR ecosystem that aligns to the priorities of the organisation and that provides a seamless experience for all those who use it."
Fosway's CEO, David Wilson, and lead analyst for HCM, Sven Elbert, will take questions in a live online "Ask the Analyst" session on 19 October 2021.