HR Gradual Changes, Strategic Shifts Expected In Next 12 To 18 Months - Study

People Matters, a people and work community platform, in its study on largest human resources (HR) industry in Asia Pacific (APAC) and Middle East (ME), highlighted the evolving state of HR and the strategic shifts expected in the next 12 to 18 months.

“Inspired by Sherpas, the gatekeepers and experts of the world's most mountainous terrains, this research aims to be your navigator to the HR landscape.

“With high growth projections, it offers a source of truth for HR, businesses and tech partners. The insights will be pivotal in helping the HR industry unleash a new wave of business impact,” said People Matters Chief Executive Officer, Pushkaraj Bidwai in a statement.

According to the report, talent is among the top forces shaping business growth outlook, while a skilled, agile, and digitally ready workforce is critical to business success.

Top findings from the report include 89% of leaders say maintaining high productivity, and 84% say adopting new technologies are key talent and technology challenges impacting business performance significantly.

In addition, the finding stated that 77% of leaders say they are ready to adapt and evolve, however, change execution remains a pain area.

Furthermore, 38% of HR tech leaders, chief experience officers (CXOs) and founders expect the HR tech market to grow by 25% to 50% in the near future. Even with big investment plans, HR leaders continue to struggle investing in sustainable technology infrastructure.

To assess the impact of an evolving economic and technological environment on the HR industry, SHRPA Research 2024 surveyed more than 1,300 and interviewed over 25 CXOs, HR leaders, HR tech partners and investors across APAC and ME.

People Matters launched the report to help HR leaders and CXOs raise HR effectiveness and make impactful tech and people decisions, as well as equip tech partners with comprehensive insights into buyers' needs and mindsets.