TECH SUPPLIER Jun 2019 - Market Presentation - Doc # AP44028019
Intelligent Applications Driving Workforce Transformation — Australia and New Zealand Human Capital Management Market, 2019
The strong growth of the human capital management HCM) market in Australia and New Zealand (ANZ) is a result of a shift from being considered as a cost centre and a general record-keeping system to the human resource (HR) function now seen as one of the most important instruments to align a workforce to the overall business transformation objectives of the organisation and recognition critical in achieving business success.
In IDC’s opinion, the effective identification, selection, assignment, and management of the workforce will be the defining organisational capability for nearly every organisation in the digital transformation (DX) era. In addition, success will depend on the ability of HR to leverage those same digital transformation tools, techniques, and behaviours in the execution of its responsibilities.
The core mission of HR departments has remained unchanged in recent years. All the HCM functional employee experiences, including recruiting, learning and development, rewards, and recognition, are all very critical to empower employees and maximise their performance in service of an employer's strategic objectives. However, as we step into the era of the future enterprise, HR and IT executives must work in collaboration, cultivating an agile, dynamic, and worker experience–centric workforce culture. They must also lead the efforts of embracing and deploying modern digital technologies, such as artificial intelligence (AI), data analytics, robotics, augmented/virtual reality (AR/VR), and intelligent process automation (IPA) to their best advantage in aligning and strengthening the workforce and the key talent, and thus, gaining a competitive edge.
This IDC Market Presentation highlights the most significant trends around the HCM market and workforce transformation across the ANZ region, including:
- Overview of the HCM market in ANZ
- The adoption and impact of 3rd Platform technologies on workforce transformation
- How HCM solution providers support customers