100 HRTECH Start-ups in singapore and still counting

Singapore has a thriving job market. But, its employee turnover rate is among the highest in Asia Pacific. According to a 2018 report of Workday, 46% of Singaporean employees are planning to leave their jobs within a year.

The Chief Human Resources Officers (CHROs) have always known that engagement is crucial to retain talent. They now have innovative HRTech products to help them get employee feedback real time, recognize their performance quickly, and take up other action points involved in talent engagement. The HR teams can also capture relationship data, wellbeing data, and sentiment data of employees seamlessly. In fact talent engagement solutions and workforce analytics are among the fastest growing HR tech solutions in Singapore.

But the market for the other segments of the HR tech is growing too and businesses are moving up the value chain--from compliance-driven tools (such as payroll processing), to automation and AI tools that provide actionable insights in talent management. No wonder, there are 100 plus HR tech start-ups that are creating niche solutions across the broad HR tech categories of Talent Acquisition (sourcing and hiring); Talent Development (learning and development); Talent Engagement (employee relations and performance management), Talent Operations (payroll, mobility), and Talent Rewards (compensation, benefits, and wellness).

As Kelly Services 2018 Singapore Salary Guide highlights: “As with the many industries they support, disruption may come to the manpower industry, with automation opportunities for many HR tasks in the form of digital solutions. HR professionals need to keep up, and leverage on these to help them improve their recruitment processes and for HR consultants, provide the right advice for firms looking to automate.”

With this blog, hrtech.sg is committed to track the happenings in the HR tech industry in Singapore and present the news and views CHROs can benefit from.

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