One of the most interesting trends from our latest ebook has to do with the blurring lines between enterprise technology with technology for small and medium sized businesses. Consider:
- 95 percent of employers in the US have less than 100 employees
- 98 percent of employers in the US have less than 2,000 employees
- 60 percent of the people employed in the US are at firms with less than 2,000 employees
This is a major market opportunity for HCM providers that was simply left untapped for decades. If you were a smaller company, there were minimal options that left most companies using manual processes. With medium sized organizations, there was an even more difficult choice: invest in expensive on-premise software that was designed with companies 10x your size in mind or try to make some smaller package work for you, likely with a lot of manual work.
With the cloud, that’s starting to change. That’s a good thing, too. Even five years ago, this market was left underserved. Now, incredible innovation is taking place that reaches down to SMB and we’ve seen more outsiders approach the HR market in recent years.