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Hype Cycle for Human Capital Management Technology, 2020

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Hype Cycle for Human Capital Management Technology, 2020 Hype Cycle for Human Capital Management Technology, 2020 Published: 27 July 2020 ID: G00447990 Analyst(s): Helen Poitevin This Hype Cycle informs application leaders who are supporting HCM technology transformations about the latest technological innovations on the market. It will help them prioritize investments by providing insights into the maturity of key applications and technologies. Table of Contents Strategic Planning Assumption...............................................................................................................3 Analysis..................................................................................................................................................3 What You Need to Know.................................................................................................................. 3 The Hype Cycle................................................................................................................................ 4 The Priority Matrix.............................................................................................................................5 Off the Hype Cycle........................................................................................................................... 7 On the Rise...................................................................................................................................... 7 Blockchain in HCM.....................................................................................................................7 HR Application Frameworks....................................................................................................... 9 Coaching/Mentoring Applications............................................................................................. 10 Skills Ontologies....................................................................................................................... 12 VR/AR Applications in Corporate Learning................................................................................14 Internal Talent Marketplaces......................................................................................................16 Flexible Earned Wage Access...................................................................................................18 Learning Experience Platforms................................................................................................. 20 D&I in HCM.............................................................................................................................. 22 Virtual Assistants in HCM..........................................................................................................24 Employee Productivity Monitoring............................................................................................. 26 AI in Talent Acquisition..............................................................................................................28 Employee Experience Tech (EXTech).........................................................................................30 Next-Gen Talent Assessments..................................................................................................32 Virtual Assistants in Recruiting.................................................................................................. 34 Hyperautomation in HCM......................................................................................................... 37 PaaS (Platform as a Service) in HCM........................................................................................ 39 At the Peak.....................................................................................................................................40 Voice of the Employee.............................................................................................................. 40 Freelancer Management Systems.............................................................................................42 Next-Gen WFM........................................................................................................................ 43 Unified Multicountry Payroll.......................................................................................................45 Digital Adoption Solutions.........................................................................................................47 Continuous Employee Performance Management.................................................................... 49 Machine Learning in HCM........................................................................................................ 50 Midoffice and Back-Office WFO................................................................................................53 Sliding Into the Trough.................................................................................................................... 54 Employee Wellness...................................................................................................................54 Employee Recognition and Reward Systems............................................................................56 Workforce Planning and Modeling............................................................................................ 57 Digital HR Document Management...........................................................................................59 Integrated HR Service Management......................................................................................... 62 Talent Analytics.........................................................................................................................64 Video Recruiting....................................................................................................................... 66 Climbing the Slope......................................................................................................................... 67 Candidate Relationship Management and Recruitment Marketing............................................ 67 Onboarding.............................................................................................................................. 69 Compensation Allocation for Line Managers............................................................................. 71 Appendixes.................................................................................................................................... 73 Hype Cycle Phases, Benefit Ratings and Maturity Levels.......................................................... 74 Gartner Recommended Reading.......................................................................................................... 75 List of Tables Table 1. Hype Cycle Phases................................................................................................................. 74 Table 2. Benefit Ratings........................................................................................................................74 Table 3. Maturity Levels........................................................................................................................ 75 List of Figures Page 2 of 77 Gartner, Inc. | G00447990 Figure 1. Hype Cycle for Human Capital Management Technology, 2020................................................5 Figure 2. Priority Matrix for Human Capital Management Technology, 2020............................................ 6 Figure 3. Hype Cycle for Human Capital Management Technology, 2019..............................................73 Strategic Planning Assumption By 2025, 60% of global midmarket and large enterprises will have invested in a cloud-deployed human capital management (HCM) suite for administrative HR and talent management, but they will still need to source 20% to 30% of their HCM requirements from other solutions, due to gaps in functionality. Analysis What You Need to Know This Hype Cycle helps application leaders supporting human capital management (HCM) technology transformation to understand the maturity and capabilities of technologies in the marketplace. It includes technologies for: ■ Administrative HR ■ Talent management ■ Workforce management (WFM) ■ Integrated HR service management (iHRSM) Growing adoption of HCM technology has led to the entry of new vendors, venture capital funding, and continuing market consolidation and development. New vendors and evolutionary developments exist in relation to: ■ Employee experience ■ Social- and analytics-driven recruitment ■ Platform as a service (PaaS), integration and automation ■ Artificial intelligence (AI) ■ Virtual assistants (VAs) ■ Coaching, mentoring and performance feedback Cloud HCM suite deployments have reached the mainstream. Investment in innovative point solutions, PaaS extensions and custom-developed applications to augment suite functionality is again on the rise. Demand across enterprise and midmarket segments for greater functional depth Gartner, Inc. | G00447990 Page 3 of 77 and innovation gives many point solution providers the opportunity to greatly exceed the overall market’s growth rate. The Hype Cycle The core functional pillars of HCM applications are: ■ Administrative HR: Core HR and HR information systems (HRIS, for organizational and employee data, employment life cycle processes, transactional employee and manager self- service), benefits and payroll administration. ■ Talent management: Recruiting, onboarding, performance management, compensation
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