The minimum requirements for payroll and staffing services is rapidly evolving. Coupled with the need and market demand for disruptive technology and innovation; providers which have assertively responded are satisfying middle market customers and capitalizing on the current and future demands.
Disruptive technology innovation is changing the minimum platform requirements such as:
- Usage and application of data: for analytics, for security, for compliance, in the cloud and between systems. Providers must choose wisely on how to monetize these required investments.
- Services are being bundled and packaged as core HR technology such as: HCM, Tier I level HR Support, and Change Management Services[1]. Again providers must choose wisely which services to bundle in order to improve gross profit margins.
- Online marketplace ecosystem(s), whether it's an open app community such as SalesForce.com's Force1 Platform, the Microsoft Partner Community, or new communities such as the ADP Marketplace Community or CornerstoneOnDemand Marketplace, or closed communities such as IBM, SAGE, Intuit, Oracle, and SAP. Again providers must choose wisely which communities to invest in to attract new customers.
Beyond Payroll Investment Decisions:
1. Packaging (multichannel and BPO services by industry vertical)
2. Technology platform and capabilities including HR, WFM, BPO and data analytics
When deciding to invest, please keep in mind Guy Henshaw's mantra: "No Margin. No Mission" because how much to invest and how best to monetize will, bifurcate the market into leaders and laggards.
Read more online at www.EphorGroup.com/eResources.asp
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