Jan 27 2021
“2020 has truly been the year of Data & AI penetrating almost all sectors of the workforce. ”
2020 has been a tough year. Organizations that have survived and thrived through the unfathomable effects of this pandemic have one thing in common: they are flexible, adaptive, and most importantly technology-driven. It has truly been the year of Data & AI penetrating almost all sectors of the workforce. Companies are redesigning their workforce and structure rapidly by leveraging technology. And truly, HRTech seems to be at an inflection point, riding on the back of deep work tech transformation. While traditionally HR teams have struggled to get budgets, 2020 saw a sudden surge in interest by companies of all sizes to leverage technology to support their remote HR teams, as companies were focused on increasing productivity with lower operating costs. We expect this trend to continue through 2021.
HRTech is transforming & revolutionizing the structure, process & functioning of not only the HR organization in particular but the entire enterprise as a whole.
Looking at the above aspects and simultaneously reviewing the deals in close quarters, we strongly foresee that Talent Engagement (including Employee Wellness), Talent Development, and HRMS to become trending categories over the next 2-3 years.
We tracked over 100 deals valued at $1.6+ bn across 7 HRTech categories:
2021 is going to be an exciting year in the HRTech space.
To download the full report click here.
Riya Shah is part of the Digital HR Advisory & Consulting team at hrtech.sg. With an Industrial Psychology background, her focus at hrtech.sg is to evangelize Enterprise HR teams to adopt technology and enable their smooth transition to becoming a Strategic Business Partner.
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