Celebrating the companies providing innovative products for organizations to thrive in a changing environment
HR technology is big business and it’s only going to get bigger.
HRD America’s 5-Star Software and Technology Providers are riding that wave with aplomb, delivering for the industry consistently and effectively. They’re creating the infrastructure to enable the industry to satisfy the increasing demands from its workforce, leadership and the overall market. Each of these tech firms has forged its own path to success, introducing different elements into the sector.
Read more: HRD America’s 5-Star Software and Technology Providers 2022
Illustrating how fast the sector is growing, payroll software market alone was valued at $25.1 billion last year and is expected to reach $46.6 billion by 2028, according to Vantage Market Research. That’s a compound annual growth rate of 11%.
The driver has been two-pronged: adapting to immediate remote and/or hybrid work, and then accepting that it’s not a temporary phase. The Hackett Group’s research proves how key HR tech will be – its data predicts HR headcounts to drop by 0.4%, but for workloads to increase by 9.3% during this year. All the indicators point to companies’ tech dependence accelerating.
Nearly 50% of buyers have a 12-month-plus timeline when it comes to purchasing HR software, according to HRD America data. Meanwhile, 21% of buyers follow a three-to-six-month timeline. That means the pressure is on for these providers to stay ahead of the game, thinking long-term about what products and services their customers will need.
This report examines what HR professionals in the United States think of the current HR software landscape and which companies perform best in four categories: HRIS solutions, payroll solutions, recruitment software solutions and reward and recognition. Integration with payroll, employment agencies and onboarding platforms have also been listed as primary factors in choosing the winners, along with efficiency, ease of use and best bang for your buck.
Read more: HRD America’s 5-Star Software and Technology Providers 2022
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In the process of selecting the best HR software and technology providers for 2022, the HRD team conducted one-on-one interviews with HR professionals and surveyed thousands more within HRD's network to gain a keen understanding of what these professionals think about current market offerings. Respondents were asked to rate their overall satisfaction with the HR technology providers they had dealt with across four categories: payroll solutions, HRIS solutions, reward and recognition, and recruitment software solutions. At the end of the 15-week research period, 18 companies were named 5-Star Award winners.
Learn which companies are providing cutting-edge products necessary for organizations to thrive in this ever-changing environment by checking out HRD America’s 5-Star Software and Technology Providers 2022 report.