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The market for human resources technologies will be shaped in the coming months by companies seeking to consolidate those technologies while boosting efficiency and cutting costs, according to analysts.
This year, reducing inefficiencies in HR processes and cutting spending for those processes will be the main drivers of HR technology spending, says George LaRocque, founder and chief analyst of WorkTech, an HR tech advisory firm based in New Providence, New Jersey.
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Collaboration between employers, brokers and third-party administrators will be essential to developing customized, cost-effective and employee-friendly solutions.
The legislation calls on Congress to lower prescription drug costs, shift subsidies directly to consumers, and enforce strict price transparency.
With salary budgets holding steady and AI reshaping rewards, employers are looking to transparency, career growth and other benefits to retain top talent.
Benefit reductions meant to cut costs and even free up funds for AI may be undermining retention, as workers scale back savings and question their employers' priorities.
Remote streamlined performance reviews by using continuous feedback and AI drafts, reshaping how managers evaluate talent systems.
