A roundup of the top providers and product vendors across 13 sectors of HR services.
By The Editors
The HR industry is experiencing a transformation. Faced with new technologies and shifting employee expectations, organisations are looking beyond the functional role of HR and developing strategies to increase its impact on business performance and growth.
In this flash report, we take a look at how organizations manage their contingent workforce and how well these practices combine with their Total Talent Management (TTM) model. The Total Talent Management model integrates the full spectrum of workers, from permanent employees to temporary workers, independent contractors, and freelancers.
In the fourth quarter of 2018, 21 of the 49 countries analyzed in this report announced decreases in national unemployment rates since the third quarter. Of the remaining countries, 14 reported increases, while 15 were unchanged. Though 2018 was a generally positive year, there was weakened economic growth in the fourth quarter due to trade tensions remaining high, several developing economies experiencing financial stress, and other economic risks.
Due to the size of the U.S. economy, and its impact on the rest of the world, individual states are also shown in this report. Half (25 out of 50) of states had decreases in unemployment in 2018, with only one state, Colorado, showing a significant increase.
A look at the top findings from our recent studies.
By Larry Basinait
Industry research is core to human capital management and decision-making. That is why the HRO Today research team takes a deep dive into the topics impacting the lives of HR leaders. Here, we share some of the top findings—the full version of the reports can be found here.
Since 2014, HRO Today Magazine and Yoh Recruitment Process Outsourcing have collaborated to produce the Worker Confidence Index: a series of quarterly reports that measures employment security in the U.S. from the perspective of employees. This annual report analyzes 2018 data and examines what forces contributed to the results.
The Worker Confidence Index was 107.1 at the end of 2018, which is a year-over-year increase of 2.6 points from the fourth quarter of 2017. For the year, the Job Security, Likelihood of a Raise and Likelihood of a Promotion indices were higher than in 2017; however, Trust in Company Leadership declined.
With the completion of this North American study, we take a look at how the use of outsourced services such as RPO, MSP, Contingent Labor and Screening changed in 2018 and how these results compare to the 2016 study that was conducted.
In the 2018 study, 36 percent of study participants indicated that they currently utilize an RPO firm and an additional 5 percent plan to utilize one within the next three years, bringing the total of those who outsource or plan to outsource to 41 percent. This is an increase of 11 percentage points since 2016. When it comes to utilizing platform technology, about one-in-five (19 percent) use it. That is a difference in growth of 55 percent since 2016, a seven-point percentage increase.
The rate of new technologies being developed and the number of companies providing them are increasing each year. This report reveals critical information about new technologies, their applications, and the companies offering them in the Human Capital Management technology sector.
The Human Capital Management systems covered in this report include those in recruitment, employee records, performance, learning and compensation management, and compliance. With this particular report summarizing the activity for the quarter, we analyze the major technological breakthroughs and applications. These announcements are for companies providing HR technology solutions, as well as merger and acquisition activity that has direct implications for HR.
Deploying a global workforce and ensuring access to the best talent is a crucial component of success for many enterprises. Global labor market data is an invaluable tool for multinational HR departments and can be used to inform critical decisions around the best countries and regions in which to grow. PeopleScout, a global provider of RPO, MSP, and total workforce solutions has partnered with HRO Today magazine to produce quarterly reports that compile current international labor market figures, unemployment rates, and important trends from the world’s leading economies by country and region.
With global unemployment levels remaining low once again, 26 of the 49 countries analyzed, reported showing levels of 5.0 percent or less. Both North America and APAC reported solid economic growth in the third quarter of 2018. EMEA showed considerably slower growth, mostly due to Germany’s weakening performance. Overall, Latin America’s growth went primarily unchanged since the second quarter, and Brazil, the region’s largest economy, did relatively well, with unemployment falling 0.5 percent.
In this Flash Report sponsored by AgileOne, we take a look at how employers feel about their brand strength when attracting contingent workers in the North America region. There are approximately 6 million workers classified as contingent in the US, and nearly three-quarters (71 percent) of respondents felt that the contingent workforce is an important part of the employment mix.
When respondents were asked about the importance of employer brand in attracting contingent workers, 60 percent felt as though the employer brand was important; however, this is significantly below the importance attached to attracting and retaining full-time employees.
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