TOP 5 HR tech platforms that are helping startups increase profitability & efficiency
The Covid19 pandemic has left several lessons in its wake, with tectonic shifts in almost every facet of life. From an organisational perspective, businesses all over the world continue to be affected financially by the outbreak even if the majority of them have recovered from the commotion. This has been an especially hard challenge for start-ups.
Most startups work with limited resources. As a result, employee retention becomes crucial for startups in an attrition-heavy culture to maintain their efficiency and hence profitability. Lack of early investments in HR technologies that enable policy simplification and improve employee experience becomes a phenomenon that defines a culture, which causes even a well-funded startup to have their resources stretched. Modern HRtech platforms may greatly increase productivity and profitability by enhancing employee experience and engagement levels.
Here are top five platforms that are helping the startups in maintaining their profitability and efficiency.
TeamLease HRtech is replacing manual, inaccurate, and time-consuming HR management activities with highly automated and digitalized goods and processes in an effort to close the gap in the HR sector. These will facilitate a positive employee experience while enhancing productivity, throughput, and digital engagement.
With its main platform built on Node.js and utilising cutting-edge technologies like Microservices on AWS and Kubernetes, the company offers comprehensive tech solution suites for payroll management, workforce administration, talent acquisition, benefits, and compliance. Additionally, it offers a cloud-based HCM platform that combines AI and ML to enhance the employee experience and boost productivity by up to 50 per cent.
A one-stop shop for all the technology aspects of the HR division, Darwinbox is a complete and integrated human resource (HR) software. Darwinbox addresses all HR-related demands throughout the employee life cycle, including payroll, leave, transfer, and departure management, in addition to performance management and exit planning. The Darwinbox creators think that the keys to long-term success are outstanding products and market fit. Darwinbox intends to focus on research and investment in deep-tech solutions in order to develop the most advanced enterprise HR technology solution.
Keka, an HR automation service company, started with the aim to offer reliable and efficient HR software to businesses. The firm offers simple and intuitive HR software to help companies automate the mundane and tedious tasks of workplace administration and managing employees. Keka enables HR professionals to focus on the vital assets of the organisation, making management of a company unchallenging.
With almost two decades of expertise, Ethos HR Management has made a name for itself as a market leader in people management and has served businesses of all sizes and in a range of sectors, from start-ups to global conglomerates, with reliable, excellent services.
Before offering specialised hiring, outsourcing, training, and consulting services for both on-shore and off-shore requirements, Ethos conducts needs analyses with corporations and a wide range of other organisations. They provide their clients with RPO engagement models that are lean, scalable, and incredibly customizable. In addition to recruitment, talent deployment & outsourcing, management consulting, and recruitment process outsourcing, they also provide value-added services.
Zimyo strives to give businesses the finest employee experience. In order to improve their key performance indicators, their products assist hundreds of businesses by lowering employee onboarding times, turnover rates, optimising ESS procedures and helpdesk, and doing much more. In the HR Tech industry, Zimyo offers businesses a complete platform for HR, payroll, performance, engagement, and employee benefits. Thanks to their dependable HR solutions, businesses have noticed a reduction in employee attrition, improved retention, and increased employee engagement by 2.5–3 times.
Many HRtech tools, including AI-enabled multichannel communication platforms, help in improving empathy, transparency, and ethical HR policy execution. Management can use these practical insights to implement efforts for work-life balance, employee experience, and employee engagement. By utilising user-friendly employee-centric HRtech products/platforms, startups in particular have a fantastic chance to make things right very immediately.