HR technology aims to increase productivity and save time by automating human resource functions like benefits administration, payroll, talent recruitment and compensation. The HR tech industry was worth $15 billion in 2014 and is continuing to grow, with over 300 vendors exhibiting at the 2015 HR Technology Conference and 18 mergers or acquisitions of HR tech companies that year. Common HR systems and services can cost businesses between $25-$35 per employee per month to implement and maintain.

1. HR TECHNOLOGY
101
HR tech vendors at the 2015 HR
Technology Conference alone
300
18
number of HR Tech related
mergers and acquisitions in 2014
increases
productivity
HR tech
Average cost for HR, Payroll, Benefits Administration, Time
and Attendance (plus implementation fees) depending on
size and complexity
Per Employee
Per Month$25-$35 (PEPM)
HR tech
saves
time
Types of
HR Tech
Benefits Administration, HR, Payroll,
Talent (Recruiting and Compensation),
Time, Affordable Care Act (ACA)
Lockton
Can
Help
Vendor selection,
implementation
oversight/project
management,
situational analysis,
change management
$15 Billion
Size of HR Tech
industry in 2014
3,570,000
Search results for
“HR Technology Vendors”
1,960,000 Search results
for ‘benefits administration
technology vendors’
11,500,000 Search results for
‘payroll technology vendors’
*Source: Society for Human Resources Management