Canada Human Capital Management (HCM) Market | Value and Size Expected to Reach USD2,573.90 million at CAGR of 11.7%| Forecast Period 2021-2028
Canada human capital management (HCM) market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 11.7% in the forecast period of 2021 to 2028 and expected to reach USD 2,573.90 million by 2028.
Human capital management refers to practices referring to human resource management. Human capital management helps identify the organization their specific needs concerning the human capital competencies. HCM is an essential factor for the success of people-driven organizations. The HCM is categorized as workforce acquisition, workforce management, and workforce optimization. The efficient human capital management solution helps an organization improve employee performance, increase retention and achieve better results.
The major factors driving the growth of the human capital management (HCM) market are surge in adoption of cloud services to manage office and field personnel, increasing necessity for workforce optimisation, and rising focus on talent mobility. Increasing emphasis on mobile HR apps is creating opportunities for the growth of the market. Compliance with government data security regulation is acting as the major restraint for the human capital management (HCM) market. The lack of skilled IT workforce in SMEs is acting as a major challenge for the growth of the market.
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