HR Tech Concept Roughly 80 percent of enterprises are planning to purchase or upgrade their solutions in a talent platform in the coming years. (Photo: Shutterstock)

The demand for cloud-based payroll and other HR solutions – particularly talent management technology — is fueling the services market across the globe, expected to grow at a compound annual rate of 9.6 percent, to $416 billion in 2026, according to a Transparency Market Research report.

Payroll capabilities on the cloud are top priority because of the easier access they afford. “The need for an efficient management system further boosts the demand for payroll and HR solutions and services,” the authors write. “Moreover, a cloud-based service allows business outsourced payroll systems to scale up with employees joining and exiting.”

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Katie Kuehner-Hebert

Katie Kuehner-Hebert is a freelance writer based in Running Springs, Calif. She has more than three decades of journalism experience, with particular expertise in employee benefits and other human resource topics.

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