In this new article, Josh Bersin provides an overview of where he sees the HR tech market headed in 2023. While there are too many insights to summarize, a few themes are: 2023 is going to be a year of slowing growth, market consolidation, and new category definition in the HR tech space. Regarding slowing growth, Josh mentions that “while roughly half of companies plan to increase their HR tech spend, the number cutting back almost doubled (from 5% to 8%), and I expect that trend to continue. And as hiring slows, so does the need for more HR software.” However, despite this slowdown, some categories remain “hot,” such as Talent Marketplace, Capability Academies, Employee Experience Platforms, Employee Listening, and Wellbeing and Rewards, to name a few. Concerning the emergence of new categories, Josh mentions how Contract Worker Management platforms—which are traditionally handled by Purchasing—will be further integrated with core HRMS because of the continued growth in hybrid, contract, and gig work. Other ideas are discussed. For those who prefer podcasts, here is a newly released 35-minute podcast where Josh expands on the points raised in the article.