According to new research, the human resources software market is expected to grow at a rate of 2.4 percent, reaching $9.2 billion by 2020. More noteworthy, perhaps, is the expectation of a shift in buying patterns, a shift caused by the replacement of baby boomers by millennial workers in the industry. With this shift comes a major transition for most companies. The study predicted that the building blocks of HR software, including payroll, time and attendance and benefits management, will be the "low movers in the global HR software market, with much of the market gains being made in digital tools – such as recruiting, training and performance management, employee HR self-service, HR mobile apps, and succession and leadership planning. As the previous generation exits the workforce and the next one enters, leadership is learning that in order to develop and retain talented workers, they will have to keep new employees engaged through training, development, communications, and collaboration – often by way of virtual tools.
View Source: Tech Republic