TECH SUPPLIER Jul 2021 - Market Share - Doc # EUR147861221

European HCM and Payroll Management Applications Market Shares, 2020: Employee Experience at the Forefront

By: Alexandros StratisResearch Manager

Abstract

This IDC Market Share provides an analysis and sizing of the European (Western Europe and Central and Eastern Europe) HCM and payroll management applications market for 2018 to 2020 and market shares per vendor. The study breaks down the combined market by functional segment (two functional segments), deployment model (PCS and on-premises), and major European countries/regions, with their respective top 5 tables showing growth and relevant market share.

"The European HCM and payroll market showed resiliency in the face of the pandemic and returned a solid growth rate of 5.9%. The HCM market was again among the top-performing ERM functional markets, a testament to the importance of technology in managing employee experience in the post-COVID-19 world. For the payroll market, it was a slower year with modest growth, but there were still emerging opportunities around the management of remote workers, their payments, and the handling of furloughs. As organizations across Europe are planning their future operations, the combination of hybrid workplaces, monitoring engagement, and initiatives that will boost inclusivity and diversity are among the key challenges that the office of the CHRO will have to address," said Alexandros Stratis, research manager, IDC European Software.


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