Leveraging technology including social media for HR products and services is an area of opportunity
When you talk about HR service providers there are two parts to it: providers of services and providers of products. Most of the companies fall in either of the two and there are some which actually straddle the two. Opportunity today comes from technology, globalization and cost consciousness. Leveraging technology including social media etc. for HR products and services is certainly an area of opportunity. So, whether you talk about leadership development, assessments etc. there are opportunities across the spectrum for all of these services. I think a hugely under-leveraged part of the organizational triangle is the mid and lower level leaders. This segment has been ignored and treated as a commodity for many years. It is mainly at the front-line that battles are fought and won, so this segment can be explored for opportunities. I think the biggest threat from a service provider point of view is cost-cutting. When you start cutting what service providers are giving you, you may spend less money but end up losing more value.