I led Forrester’s recent update of the Forrester Wave evaluation of the human capital management (HCM) market after three years in which the market rapidly evolved. Given the challenges that the pandemic and talent constraints posed to the basic role of HR, HCM vendors have worked hard to inject intelligent innovation into what otherwise might have seemed a mature market. Recently, James McQuivey, research director of our Future of Work team, invited me to sit down and discuss the lessons I learned along the way to assess and describe how vendors have matured since we last conducted this research in 2020. The result is a 20-minute video conversation between James and me which Forrester clients can view in its entirety. For non-clients, I’ve pulled out a few key clips to give you some idea of what we discussed, including the above.
Buyers want to make a decision today that will support their future ambitions. I recommend asking their HCM suite provider about automation, AI, and ethics. Do the vendors on your shortlist differentiate between automation and AI, prioritize ethical applications, and offer clear communication about their capabilities? Ask them for evidence that they can help you reduce friction in delivering talent solutions. By embracing tailored solutions and platform extensibility, you can enhance your HR capabilities, drive collaboration, and navigate the ever-evolving talent landscape with ease.
Clients who want to go deeper into these and other questions can set up a guidance session with me to learn more as well as share what their experience with HCM platforms has been.