The HR tech landscape today is seeing two powerful, and perhaps complementary, trends: the wave of consolidation and a clear focus on HR efficiency.
On one side, major players are busy acquiring niche solutions and expanding their portfolios, aiming to offer comprehensive platforms that span the entire employee lifecycle—from recruitment to talent development and beyond. These all-in-one solutions promise to simplify HR's toolkit and meet the growing demand for cohesive, integrated systems.
Meanwhile, there’s a strong push for HR efficiency, with companies investing heavily in AI and automation to alleviate the administrative burdens that often bog down HR teams. Imagine a world where time-consuming data entry becomes a thing of the past, freeing HR professionals to focus on high-impact initiatives.
It’s an exciting vision, where technology doesn’t just support HR—it transforms it.
HR TECH News: Strategic acquisitions
Folks – September 2024
Folks acquired Glow Talents, an applicant tracking system (ATS). This acquisition strengthens Folks’ position in the HR management industry and addresses the growing need among their customers to reduce recruitment times and optimize hiring processes.
Glow Talents automates the entire recruitment process. Key features include posting job offers on over 2,000 job boards, importing qualified candidates, generating career pages, and providing AI tools for matching the best talent with available positions.
Folks is a Quebec-based technology company dedicated to creating human resources management solutions adapted to the needs of small and medium-sized businesses in Canada.
ADP – October 2024
ADP acquired WorkForce Software: This acquisition will expand ADP's global offering of workforce management solutions and enable future innovation.
Workforce Software specializes in supporting large, global enterprises. Their robust solutions for time and attendance, scheduling, forecasting, leave and absence management, and employee communications will be integrated into ADP’s offerings.
Workforce Software's solutions are adaptable. They accommodate unique compensation rules, labor regulations, and schedules regardless of whether employees are deskless, hourly, unionized, full-time, part-time, or seasonal.
HR TECH News: Advancements in AI for HR
Cegid HR – Announcement at Paris and Montréal – October 2024
Cegid launched Cegid HR, a new integrated suite. This suite combines all Cegid’s recruitment, talent management, and training modules into one unified system. A few years after the acquisition of TalentSoft, WittyFit and DigitalRecruiters, the Talent Suite is finally a Suite.
Cegid HR is powered by Cegid Pulse. Cegid Pulse is a new set of intelligent agents that use generative AI to transform the way HR professionals work.
Cegid Pulse offers concrete use cases for HR departments. It can be used to improve the employee experience, simplify recruitment, and develop talent management. Cegid Pulse will be gradually available starting early in 2025.
SIGMA-RH – Announcement at Paris and Montréal – October 2024
SIGMA-RH is integrating generative AI into their HR Suite. They believe this will quickly become an indispensable part of human resource management.
Generative AI in SIGMA-RH accelerates processes, optimizes decision-making, and maximizes operational efficiency.
It offers:
a dedicated and private AI that ensures data protection, respects access levels configured in their solution, and provides a secure and compliant management of information.
an integrated AI experience in global HRIS. This simplifies integration, enables comprehensive data analysis, strengthens security, and provides consistent user experience.
SAP SuccessFactors – Announcements at Success Connect – October 2024
SAP announced new AI innovations embedded across the SAP SuccessFactors HCM suite. These innovations provide organizations with greater efficiency and unparalleled experience.
The German ERP and HCM editor introduced enhancements to their Talent Intelligence Hub (TIH). This hub provides a centralized system for skills, enabling career development and strategic workforce planning.
SAP launched the SAP SuccessFactors Career and Talent Development solution. This solution empowers employees to set career growth goals while providing career path exploration, skills mapping, and opportunity readiness.
Generative AI capabilities are being added across the talent lifecycle. Examples include AI-assisted 360-degree reviews, actionable insights for employees, and guidance from SAP’s AI copilot Joule throughout the onboarding process.
AI is being embedded into core HR and payroll solutions. This includes enhanced Payroll Control Center capabilities and the ability for employees to ask Joule complex questions about their pay slips.
Workday HCM – Announcements at Rizing – September 2024
Workday announced Workday Illuminate, an AI-powered solution designed to increase productivity, efficiency, and insights.
Four new AI Agents were announced:
Recruiter AI Agent,
Expenses AI Agent,
Succession AI Agent,
Optimize AI Agent.
Workday Illuminate leverages more than a decade of experience with AI. This includes Workday Wellness and the new Workday Assistant.
Workday is committed to a "better together" approach to product strategy. This includes leveraging the full Workday platform, prioritizing user experience, expanding global functionality, and adding industry-specific functionality.
Why Consolidation and Efficiency are Key to Future-Ready HR
HR TECH News are not surprising. The HR tech market is clearly at a crossroads, where the push for consolidation and integration needs to keep pace with the rising complexity of organizational demands.
On one side, HR tech providers must address the urgency for a faster, more cohesive ecosystem, streamlining integrations to reduce friction and enhance usability across solutions.
At the same time, organizations face the critical task of decluttering their fragmented HRIS environments. This requires an agile approach to replacing legacy systems, along with a disciplined strategy for selecting point solutions that truly complement and automate their HR stack.
The goal for both sides is clear: a well-integrated, streamlined ecosystem that empowers HR to operate more efficiently and strategically in today’s fast-paced environment.
Want to know more about HR TECH Trends and Innovations?
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Reach out to schedule a session for your team and discover how the latest innovations can have meaningful impact in your HR strategies.
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