Workforce Development

The Workforce Development subsector highlights a shift toward agile talent strategies, focusing on Talent Acquisition and Performance Management. Subcategories like Gigs and Workforce Planning reflect the rise of flexible work models, aligning with market demand for adaptable workforce solutions.

Talent Acquisition

New models that take full advantage of big data are disrupting traditional talent acquisition processes with the promise of finding better matches, lowering search and turnover costs and eliminating bias from the hiring process. Others in this cluster are focusing on matching qualified talent by recirculating candidates who are not hired at one firm into their network of organizations. Gone are the days of clunky, stand-alone HR systems, with new players prioritizing a full suite of features through to on-demand video screening, mobile first interfaces and seamless integration with other HR systems.

Gigs

It is estimated that more than half of the world's workforce will be contingent workers by 2030 and these platforms provide discovery, matching and quality control to support connection and transaction between 'gig' workers and those who need a project or task completed. Like many peer platforms, typically all parties have a profile and transparent mutual ratings systems and payment ranges from flat fees, 'bidding' for jobs or per hour arrangements. Systems such as these are likely to become a more accepted and popular way of fulfilling specific projects or tasks as skills shortages in some geographies are balanced by a large number of trained and ready workers in other parts of the world, in particular in emerging economies.

Workforce Planning

Organizations in this cluster are focused on workforce data and analytics. From labor market analytics that help governments, universities and employers make decisions and understand local labor markets to platforms that assist in supporting whole workforces successfully transition into the fourth industrial revolution. Other solutions mine information about an organization's existing workforce to identify current and future capability gaps and surface labor market information through analysis of millions of job postings and resumes.

Performance Management

Rewarding, recognizing and managing performance solutions range from apps that focus on individual and team recognition for performance, to systems that provide non-salary benefits and rewards, to administrative systems for managing remuneration. New solutions in this category aim to minimize complexity and provide a digital experience for staff as well as making full use of the data that is captured in these systems to support predictive intelligence and identify compliance issues in advance. Other solutions focus on ensuring that organizations can easily collect and act on staff feedback to support a positive work culture and collective performance.