The report on the global Healthcare human resources (HR) software market uses the top-down and bottom-up approaches to define, analyze, and describe the market trends for the next five years. The report also tracks the emerging applications, innovative technologies, and mergers & acquisitions. It also focuses on the growth drivers and restraints for the key market players during the forecast period.
The human resource software maintains crucial information about a person like address, contact number and financial data. This software is useful in managing the complete employee life-cycle capabilities which includes functions such as recruitment, salary hikes, vacation leaves, bonus, training, management and other benefits.
The software offers various benefits such as document control and data security. The software is being updated by adding unique features like advertisement management, candidate searching, and linkup with social media such as LinkedIn and Facebook.
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KEY PREMIUM INDUSTRY INSIGHTS
- The increase in automation and rise in demand for easy access to employee data is driving the healthcare human resources (HR) software market. HR software is highly automated, which decreases the time spent on manual data entry work and other time consuming administrative work.
- This feature is helping the market gain more popularity increasing the market growth. Rise in awareness regarding the benefits of HR software, is contributing towards market growth during the forecasted period.
- However, the increase in cyber-crime incidences is hampering the growth of the HR software market. Also, the complexity of the software increases as the organization size increases which is acting as a major market restraining factor.
The global healthcare human resources (HR) software market is divided into four major geographical segments which are North America, Europe, Asia-Pacific, and Rest of the world. The North America region holds the highest market share and is the largest revenue contributor of the HR software market.
The region continues to dominate the global market due to vast development in healthcare sector. Next in line is the Asia-Pacific region which is witnessing a fast-paced growth because of increasing number of healthcare organizations.
For similar reasons, Europe region is also expected to grow at a steady pace during the forecasted period.
KEY MARKET PLAYERS
Key players in the healthcare human resources (HR) software market include:
- Paychex, Inc.
- Sumtotal Systems Inc.
- SAP SE
- Oracle Corporation
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