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Deloitte Report Identifies Disruptive Reinvention of HR Software Market as Investors Accelerate FinancingNEW YORK, Oct. 16, 2017 /PRNewswire/ -- A proliferation of digital technologies, a younger and multigenerational workforce, continuous performance management and team-centric organizational design have fundamentally changed how work gets done at organizations, demanding a new set of HR software tools and platform features. According to a new report by Deloitte's Bersin, "HR Technology Disruptions: The HR Tech Market Reinvents Itself," more than 75 percent of organizations are well on their way to reinventing the performance management process in their organizations. In addition, many organizations are increasingly restructuring themselves into networks of teams, a concept Deloitte's Bersin research has dubbed "the Organization of the Future," and 88 percent of companies indicate the transition to this structure is a top priority. "The HR technologies market is an incredibly hot area for investors, as software companies develop products to address the changing needs of organizations," said Josh Bersin, principal, Deloitte Consulting LLP, and founder and editor in chief of Bersin, Deloitte's digital destination for the human resources professional. "As companies adopt a digital mindset, leaders recognize they need to implement a new array of tools to improve productivity, alignment, goal transparency, feedback methods, well-being and team networks." Many HR software companies are responding to the changing market dynamic of evolving organizational structures by developing technologies to support these changes. In fact, venture capitalists have put $5.5 billion into HR and workforce management technology providers since 2014, Bersin found. Deloitte's Bersin has identified 10 trends driving fundamental change in the workplace today, including: Recruiting is in the midst of a complete revolution Continuous performance management is here The reinvention of corporate learning has arrived The people analytics marketplace has grown up at last Learn more about Deloitte's Bersin research or its membership by emailing [email protected] or calling +1 510 251 4400. Deloitte's Bersin delivers research-based people strategies designed to help leaders and their organizations in their efforts to deliver exceptional business performance. Deloitte's Bersin membership gives Fortune 1000 and Global 2000 HR professionals the information and tools they need to design and implement leading practice solutions, benchmark against others, develop their staff, and select and implement systems. A piece of Bersin research is downloaded on average approximately every minute during the business day. More than 5,000 organizations worldwide use our research and consulting to guide their HR, talent and learning strategies. For more information, please visit http://www.bersin.com. About Deloitte Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee ("DTTL"), its network of member firms, and their related entities. DTTL and each of its member firms are legally separate and independent entities. DTTL (also referred to as "Deloitte Global") does not provide services to clients. In the United States, Deloitte refers to one or more of the US member firms of DTTL, their related entities that operate using the "Deloitte" name in the United States and their respective affiliates. Certain services may not be available to attest clients under the rules and regulations of public accounting. Please see www.deloitte.com/about to learn more about our global network of member firms. View original content with multimedia:http://www.prnewswire.com/news-releases/deloitte-report-identifies-disruptive-reinvention-of-hr-software-market-as-investors-accelerate-financing-300536793.html SOURCE Deloitte |