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  • Oct. 05, 2023
    The Multi-country Payroll (MCP) solutions market has expanded steadily over the last few years. The economic uncertainty has made enterprises focus on cost reduction and resource allocation. Enterprises are now seeking assistance beyond just conventional payroll management. In response to this demand, providers have evolved their portfolio by offering flexible pricing models and easy scalability. MCP providers are empowering enterprises by extending cost-effective, compliant, and strategic solutions. This report assesses 27 MCP providers and positions them on the MCP Solutions PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their market impact and vision & capability. As the market has seen an uptick in regional consolidation in the past few years, we have included regional cuts for EMEA and APAC in the report to help enterprises in their regional sourcing decisions. In addition, the report includes sourcing considerations for enterprises that highlight the providers’ key strengths and limitations. Scope: Industry: MCP solutions Geography: global This assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading MCP providers, client reference checks, and an ongoing analysis of the MCP solutions market Contents: In this report, we examine: The relative positioning of providers on Everest Group’s PEAK Matrix® for MCP Solutions across global, EMEA, and APAC regions Provider landscape Providers’ key strengths and limitations Membership(s) Human Resources Multi-country Payroll Sourcing and Vendor Management
  • Oct. 05, 2023
    The pandemic-induced global shutdowns accelerated the adoption of remote work, driving numerous contact centers to transition to a work from home or hybrid model. While flexible work models offer benefits such as cost savings, heightened agent flexibility, and reduced environmental impact, they often pose challenges related to agent productivity and engagement. Therefore, companies are slowly realizing the need to engage their contact center agents to drive high performance in remote and hybrid work models. Gamification is a strategy that incorporates game design elements to improve various aspects within the work environment, including employee onboarding, performance management, and customer interactions. Within contact centers, it plays a vital role in elevating agent engagement and performance levels, ultimately resulting in enhanced customer service and organizational success. In this viewpoint, we examine gamification in the Customer Experience Management (CXM) landscape and recommend how enterprises can transform agent experience from this strategy. Scope All industries and geographies Content In this viewpoint, we examine: Key aspects of a gamified experience ecosystem Challenges and considerations for gamifying the agent experience Road ahead for gamification Membership(s) Customer Experience Management (CXM) Services, including Contact Center Outsourcing Sourcing and Vendor Management
  • March 07, 2023
    Macroeconomic uncertainties and the impending recession are compelling enterprises to take defensive measures such as shutting down businesses and laying off employees. From a workforce perspective, enterprises must take reactive measures to improve efficiencies, communicate effectively, and cut costs during a recession. However, research has indicated that Employee Experience (EX) plays a vital role during economic slowdown and uncertainty. Enterprises must prioritize long-term, employee-centric, and forward-thinking priorities – guard, evolve and thrive. EX solutions can help realize these business goals and generate value, innovate processes, and engage employees to emerge stronger on the other side of the recession. In this viewpoint, we examine the current economic downturn, its impact on employee expectations and experiences, enterprise priorities when tackling these uncertainties and expectations, and nine EX solutions that can help enterprises achieve their objectives in a volatile environment. The report also recommends a roadmap for enterprises to select and implement the most suitable EX solution to achieve their goals. Scope Industry: all Geography: global Contents In this report, we examine: The impact of economic uncertainty on enterprise talent strategy Enterprise priorities during an economic downturn Identifying the right EX solution for enterprise priorities Nine EX solutions that you should know about A roadmap for enterprises Membership(s) Human Resources Recruitment Contingent Staffing Contingent Workforce Management Services Sourcing and Vendor Management
  • Nov. 28, 2022
    Talent shortage and rising employee expectations around payroll are driving organizations to improve their overall employee experience. Bi-weekly or monthly pay cycles are not adequate anymore, and employees are demanding greater flexibility and support for a better pay experience. Earned Wage Access (EWA), which allows employees to access a portion of their income ahead of the fixed payday, can alleviate employees’ financial concerns and improve their financial well-being. It can facilitate improved payroll administration and reduce wait times for workforce such as hourly workers, gig-workers, independent contractors, and freelancers. Organizations can also leverage EWA to disburse off-cycle payments such as rewards, bonuses, tips, reimbursements, and last-day payments. In turn, EWA providers can differentiate themselves by providing tools to realize employees’ financial goals, develop an understanding of financial terms and policies, and reduce debt by automated savings and loan repayment. In this report, we provide a comprehensive coverage of the EWA and Financial Wellness Solutions (FWS) market and analyze it across dimensions such as market overview, buyer adoption trends, solutions characteristics, and the technology provider landscape. Scope: All industries and geographies Contents: In this report, we: Analyze the adoption trends, drivers, and key investment themes of the EWA & FWS market Review the current EWA & FWS provider landscape Examine provider priorities and key consideration factors for EWA & FWS selection Discuss key challenges and solution areas Membership(s) Human Resources Sourcing and Vendor Management
  • Nov. 22, 2022
    Talent shortage and evolving employee expectations around payroll are driving organizations to improve their overall employee experience. Bi-weekly or monthly pay cycles are not adequate anymore, and employees are demanding greater flexibility and support for a better pay experience. Earned Wage Access (EWA), which allows employees to access a portion of their income ahead of the fixed payday, can alleviate employees’ financial concerns and improve their financial well-being. It can facilitate easier payroll administration and reduce wait times for workforce such as hourly workers, gig workers, independent contractors, and freelancers. Organizations can also leverage EWA to disburse off-cycle payments such as rewards, bonuses, tips, reimbursements, and last-day payments. The Earned Wage Access and Financial Wellness Solutions (EWA & FWS) in the US – Provider Compendium is a companion to Everest Group’s latest study, Earned Wage Access and Financial Wellness Solutions (EWA & FWS) in the US – Products PEAK Matrix® Assessment 2022. In this research, we provide comprehensive and detailed profiles of 15 EWA & FWS providers, covering the providers’ overview, key clients and partnerships, product capabilities, and key developments. Each profile also specifies the provider’s position on Everest Group’s PEAK Matrix® and offers an insightful analysis of its capabilities. The compendium will enable providers to benchmark their capabilities against their peers, while buyers will be able to assess the providers based on the desired set of capabilities. Scope Industry: all Geography: US Contents In this research, we analyze EWA & FWS providers across the following dimensions: Service capability and strategy: includes company overview, leadership, key developments, market adoption and partnership overview, and product capabilities and offerings Everest Group assessment: includes provider’s position on Everest Group’s PEAK Matrix®, along with key strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management
  • Oct. 11, 2022
    Payroll is an important aspect of an employee’s journey, and employee expectations for flexibility and support in this regard are on the rise. Bi-weekly or monthly pay cycles are not adequate anymore, and employees are increasingly demanding greater financial control and flexibility for a better pay experience. To attract and retain talent, enterprises must come up with solutions to engage their employees better and differentiate themselves in the market. Earned Wage Access (EWA), which allows employees to access a portion of their income ahead of the fixed bi-weekly or monthly payday, is one such solution that enterprises can offer to alleviate employees’ financial concerns and improve their financial well-being. In turn, enterprises could reap benefits such as better talent attraction, reduced attrition, and improved productivity. In this viewpoint, we examine the factors driving EWA solutions, the significance and benefits of a global EWA program, and the key considerations and best practices when offering such solutions to employees. Enterprises aiming to improve their overall employee experience will benefit from this report. Scope: All industries and geographies Contents: In this report, we: Study the driving factors for a modern payroll experience Provide an overview of the prevalent models and components of a global EWA solution List the benefits of a global EWA solution for employers and employees Review the current EWA vendor landscape Mention the key procurement considerations and best practices for implementing a global EWA solution Membership(s) Human Resources Sourcing and Vendor Management
  • Sep. 30, 2022
    The global Multi-process Human Resources Outsourcing (MPHRO) market has recovered from a short-term disruption caused by the pandemic and is likely to grow in the future because of an increased push for large-scale digital transformation among enterprises, the need to support hybrid working models in the next normal, and a focus on the overall employee experience. Additionally, traditional outsourcing drivers – including the need for cost takeout, transaction volume management, and domain expertise – continue to spur growth. Due to the ongoing talent shortage, there is a push to develop skills and have a future-ready workforce. Buyers are looking for more end-to-end HR outsourcing deals, that include talent acquisition and development, keeping employee experience at the core. Providers are continuing to make investments in next-generation technologies, automation, and analytics, and are also adding an experience layer to their products to provide a seamless, integrated experience to users. This study provides a comprehensive overview of the MPHRO market and analyzes it across dimensions such as buyer adoption drivers, market overview, and evolving solution characteristics. Scope: MPHRO deals in which a minimum of three HR processes are included Deals in which the buyer employee size is 1,000 or more All geographies and industries Contents: In this report, we study: Key demand trends in the MPHRO market Solution characteristics Provider landscape Future outlook Membership(s) Human Resources Sourcing and Vendor Management
  • Sep. 06, 2022
    Talent shortage and changing employee expectations are driving organizations to improve the employee experience. Employee expectations are also changing with respect to payroll, which they expect to be more flexible and support them at the time of actual need. Earned Wage Access (EWA), which changes the paradigm of biweekly or monthly payroll and instead makes earnings available instantly can alleviate employees’ financial concerns and improve the pay experience. In particular, the solution can make payroll administration easier and reduce wait times for workforce categories such as hourly workers, gig-workers, independent contractors, and freelancers. Organizations can also leverage EWA to disburse off-cycle payments such as rewards, bonuses, tips, reimbursements, and last-day payments. In response to the increasing demand for their offerings, EWA vendors are differentiating their solutions by providing tools that allow employees to set financial goals, educate them on various financial terms and policies, reduce debt by automated savings and loan repayment, and thus improve their financial well-being. In this research, we assess 15 leading vendors featured on the Earned Wage Access and Financial Wellness Solutions (EWA & FWS) in the US – Products PEAK Matrix®. Each vendor profile features the vendor’s key strengths and limitations to assist buyers in making sourcing decisions. Scope The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading EWA & FWS vendors, client reference checks, and ongoing analysis of the EWA and FWS products market Industry: all Geography: US Contents In this research, we analyze: The relative positioning of 15 vendors on the Everest Group PEAK Matrix® for EWA & FWS products Key vendor strengths and limitations Membership(s) Human Resources Sourcing and Vendor Management
  • June 14, 2022
    Payroll is an important touchpoint in the employee life cycle, as nothing disengages an employee more than a delayed or incorrectly processed salary. Thus, adopting a more strategic approach to payroll has become the need of the hour. To support continuous data exchange and elevate payroll to a strategic function, we recommend that organizations integrate different HR systems globally. This integration can drive cost synergies, offer better spend visibility, provide more people insights, enhance workforce experience, and drive workforce strategies. Achieving this integration is not easy, however, and enterprises would do well to diligently evaluate their current states and establish the target states of their payroll operations based on their strategic priorities. In this report, we assist enterprises in assessing their payroll maturity and formulating a payroll transformation strategy using the right mix of core and point solutions across their countries of operation. Scope All industries and geographies Contents In this report, we: Introduce the strategic payroll transformation approach Examine a maturity model for the evaluation of payroll integration Look at an illustrative solution for global HR operations Describe the key considerations for enterprises before they embark on a payroll transformation journey Membership(s) Human Resources Sourcing and Vendor Management