Core HR Software Market Highlights:

The global Core HR Software market is expected to grow at approx. USD 11 Billion by 2023, at 9% of CAGR between 2017 and 2023.

Core HR software is used to manage employee information which can be easily accessible through a centralized HR database. The HR database typically comprises of employee personal information, benefits enrollment and income tax withholding. Core HR software includes employee self-portal which allows them to edit and access their personal details and it can also be used for absence tracking of employees.

Rapid growth in the cloud and mobile deployment is one major factor leading to the growth of core HR software market. Another factor is the increasing automation in the field of HR driving the market share. This had led small and medium enterprises to automate the HR processes by rapidly adopting core HR software.

Enterprises are eagerly anticipating their business operations by increasing efficiency and simultaneously reducing functional costs. They are attempting to bridge a gap between workforce development and retention. Core HR is a cloud-based software which allows enterprises to align their human resource functionalities by enabling appropriate technology. The software monitors the back-end HR activities of an enterprise by recording administrative processes such as attendance, payroll, positions, self-service, and others. The adoption of this software results in efficient HR approaches by increasing global agility, simplified workforce management, increased staff productivity coupled with controlling labor cost, and reducing compliance risk.

The prominent players in the Core HR Software Market are-

Automatic Data Processing (US), Ceridian HCM Inc. (US), CoreHR (Ireland), Employwise (India), IBM Corporation (US), Oracle Corporation (US), Paychex Inc. (US), Paycom Software Inc. (US), Sap SE (Germany), and Workday Inc. (US)

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