Upcoming News
| |
Will it be a good year for HR Tech and Startups
Delhi | 10. Oct . 2018 | 14:00 – 17:00 pm
How will the year 2019 be for startups in the HR tech space in India when it comes to adoption and expectations? Read on to find out.
HR Tech will need to continuously create value
While it is a given that most of the transactional interactions involving HR will slowly and gradually move to technology and companies have already started working on moving some of the regular queries on to chatbots, HR tech companies will continuously need to work on creating value for the user through their platforms, says Sanjay Lakhotia, Co-Founder, Noble House Consulting Pte.
The next year will also see some consolidation in the HR tech market due to a sudden spurt in the number of tools out in the market, he adds. The tools will either get merged or there would be models of collaboration that will emerge between different tools.
From generalization to specialization
2019 may also see a spurt in more specialized HR Tech as per Bhavin Turakhia, co-founder of Zeta. He says, “Right now a large number of HR Tech companies in India are core HR Tech. But very soon we will start seeing specialized companies-some will focus just on planning, some will focus only on performance review and appraisals. If you think about it, talent acquisition is already segregated out. There will a plethora of segregated tools which will fulfil a specific function.”
However, he still feels that the real growth spurt in HR Tech is still a few years away. Larger enterprises are paying more attention to people but smaller companies in non-tech industries will take longer, he opines. Bhavin aptly sums up succinctly the state of HR Tech in 2019 when he says,
“There is a certain level of maturity that organizations have to go through in India before you get to a point where HR Tech becomes a priority.”
We could not agree more!
