Tech advances impact HR services industry: China Gorman

The seminal events over the last couple of years are the advances in technology and the entrance of big money into the human capital management space, from both an acquisition and an investment perspective, which we have not seen previously. Economic development and new technological advances have impacted the HR services industry and at the heart of it, how employers relate to their employees and how employers relate to candidates for an appointment. The three big technological advances are the cloud, mobile technology and social technology. When you see new products and services coming into the talent management and human capital management space, they tend to be living in the cloud, socially connected and available through mobile application. There have been big acquisitions in the technology and consulting space and in the technology and software space like the SAP- SuccesFactors, Oracle - Taleo, and IBM – Kenexa deals. These acquisitions have changed the landscape to an extent that now, not only large organizations but even venture capitalists from the other side of the spectrum are investing in emerging organizations and emerging technology in the human capital management space.