Information Communication and Technology Reports HCM Market Report | Page 2

employee records, health benefit information, and payroll information through mobile and desktop devices,
virtually from any device.
The HCM solution and services are being adopted rapidly across various industry verticals, which have led to the
growth of the market globally. The consumer goods and retail sector is expected to grow at the highest rate from
2017 to 2022.
The growth of Human Capital Management market is dependent on the factors, such as simplified management of
geographically spread workforce, growing demand for mobile applications, and increasing demand for talent
mobility are expected to drive the market growth.
HCM has various features and functionalities like Core HR, Workforce Management, Sourcing and Recruitment,
Applicant Tracking System, and Staffing Vendor Management
CoreHR
For any organization Core HR software solutions is the primary requirement organization to administer its
employee for functions such as payroll and compensation management, benefits and claims management,
personnel management, learning management, pension management, compliance management, and succession
planning.
Workforce Management
Workforce management software provides features that simplify the work of employees in the organization and
provide them time for focusing on more significant business aspects. The workforce management consists of time
and attendance management, absence management, workforce scheduling, workforce analytics, performance
management, and others
Sourcing and Recruitment
The sourcing and recruitment software helps in finding the right talent from a large pool of job seekers. The
software helps in quick search of the potential candidates for specific positions and managing hiring processes.
This software helps the HR team to identify individuals, access all vital details of the person, and to take decisions
accordingly.
Supply Chain Optimization
Supply chain is a complete arrangement of organizations, individuals, resources, information, data, and assets
necessary for moving products and services from providers to the end users. Activities in the supply chain
transform raw materials into finished products and finally deliver these to customers.
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