London (UK), October 2022 - Fosway Group, one of Europe's leading HR industry analysts, has released the new 2022 9-Grid™ for Talent & People Success. The research shows that the market is growing fast, as HR teams look to bring innovation across the entire talent lifecycle, from skills and engagement to talent mobility.
This year's research reveals the continued replacement of outdated talent management processes with new talent approaches and technologies to deliver better outcomes for employees and to support the needs of the modern workforce. Key focus areas include delivering personalised employee experiences based on individual skills and aspirations, as well as enabling an agile workforce with greater talent mobility and the future skills for success.
"The trend for employers to replace legacy talent management processes with more agile and effective approaches continues at pace," commented David Perring, director of research at Fosway Group. "There is a huge focus on skills and upskilling the workforce, improving employee experiences, and making the workforce more flexible to meet the future needs of the business. Macro-economic challenges will accelerate this further, accelerating innovation, as well as increasing the value of attracting and retaining the best talent."
Fosway research shows that the employee experience continues to be a huge driver of HR buying decisions. According to forthcoming data from Fosway's HR Realities 2022 research, only 26% of HR professionals believe their HR systems are fit for the modern workforce.
Research from the 2022 Fosway 9-Grid™ for Talent & People Success shows that artificial intelligence (AI) and its capability to personalise the employee experience has become a huge differentiator in the market. AI tools are helping provide a unified people experience across multiple systems.
The 2022 Fosway 9-Grid™ for Talent & People Success incorporates both Talent Suites and Specialists. Talent & People Success Suites provide a range of talent functionality, from talent acquisition through to development, performance, and employee wellbeing. Specialists provide a more focused set of functionalities within Talent & People Success - for example, focusing on specific topics such as skills, talent mobility, or employee listening.
Fosway’s insights are generated from ongoing research programmes involving more than 1,500 organisations. The research and insights aim to demystify the supply options available to organisations and help HR teams make better buying decisions when it comes to investing in their technology solutions.
This year's analysis shows the addition of several specialists to the 9-Grid™, reflecting the innovation taking place across engagement, culture, skills intelligence, and employee listening. Specialists and Suites are also focused on developing their AI capability to support organisations striving to become more agile and resilient.
"The innovation agenda is writ large over the 2022 Talent & People Success 9-Grid™, said David Wilson, CEO, Fosway Group. "From a customer perspective, there is an increasing amount of choice in the market, with increasing numbers of specialist providers offering new approaches and transforming the employee experience. This means that the HR ecosystem is now more complex and important than ever. Buyers must understand how effective different providers will be as a part of their HR strategy because it will be the ecosystem as a whole that drives the impact and transformation they are seeking."