Singapore’s largest HR Technology Marketplace hrtech.sg has entered India as hrtech.in as part of the platform’s global expansion, with the aim of helping enterprises in India address their talent challenges.
The newly launched India-focused HRTech Marketplace hosts the best-in-class technology solutions that companies of all sizes can use to effectively attract, hire, and engage talent, “empowering organisations with their digital HR roadmap to create a great employee experience”, says Sriram Iyer, Founder and CEO, hrtech.sg.
India’s Great Resignation expected to accelerate in next six months
This comes as India battles the Great Resignation, with 86% of employees (89% for Managers) in India planning to resign in the next six months, according to a recent Michael Page survey. While almost every industry is impacted, the Technology & Telecom industry will be among those most affected in India with a staggering 85% of employees planning to leave.
It is the prioritisation of personal health and happiness over career that is sparking the migration, with 61% indicating they are willing to sacrifice salary, bonus or promotion for greater wellbeing, mental health, and happiness.
With such a significant migration event imminent, amid what is already a tight labour market, organisations in India are looking for ways to retain their top talent, including ensuring employees are happy, engaged, and their mental health and wellbeing is taken care of.
HRTech solutions helping firms attract, hire, and engage talent
And this is where HRTech platforms can help. These hi-tech solutions help firms attract, hire, and engage talent, and are seeing strong growth because of it.
Research from hrtech.sg finds that global investments into HRTech startups stood at US$14.5bn in 2021 and more than US$7.5bn already in just the first five months of 2022.
According to Iyer, HR has taken the front seat in the journey to navigate enterprises from the uncertainty created by the pandemic to adapting to new ways of collaborative work.
“Technology is the power that fuels the HR engine to create a unique employee experience and engagement, while at the same time allowing for new ways of collaboration and communication among divers-dispersed teams across the globe,” says Iyer.
India’s HRTech Marketplace features 60+ product providers
India’s new and curated Marketplace features more than 60 best-in-class HRTech product providers to help with talent acquisition, development, engagement, and operations.
HR teams can easily identify the best-fit solution specific to their organisational needs using the unique HRTech MarketMap, which is supported by global HR expert SHRM, and to make it simple for HR teams, all solution providers are segregated into eight categories, namely:
- Talent Acquisition
- Talent Analytics
- Talent Development
- Talent Engagement
- Talent Operations
- Talent Planning
- Total Rewards
- Human Resource Management Systems
Within these, HR leaders will find global product players such as CoachHub, which offers digital coaching; Darwinbox and PeopleStrong, both platforms for HR management systems; Globalisation Partners, a global employment platform; RippleHire, an applicant tracking system; Talview, a video interview and assessments platform; and xoxoday, a rewards and loyalty platform, among many others.