5 HR tech startups helping organisations keep up with new-age business dynamics
Hiring is a global challenge. Despite technological advancements, organisations still have trouble finding the right candidates. Here are five HR tech startups filling this gap.
Technology has disrupted most industries, including Human Resource. Hiring today is much different than what it was years ago. Business dynamics are also rapidly evolving, making it a challenge for companies to keep up.
To address these gaps and the recruitment needs of companies, several startups are using new-age technologies like Artificial Intelligence (AI), Machine Learning (ML), and analytics.
Globally, the HR tech market is expected to touch around $34 billion by 2021 and almost $3.6 billion worth of this business is projected to come from Asia according to reports. It is also estimated that it will double in size in the next four years in India alone.
As a fast emerging space, HR tech is one of the current favourites in the ecosystem as more and more startups come up in the space.
YourStory has curated a list of HR tech startups easing out the hiring process and helping companies address the talent mismatch.
Started in 2016, ReferHire has created a peer-to-peer (P2P) networking platform to bring together organisations and those seeking newer career opportunities. Founded by Rohit Tewari and Jaspreet Oberoi, Delhi-based ReferHire is aimed at building transparency and efficiency in the entire process of hiring the right candidate.
Once the user identifies the companies they are interested in, ReferHire will start introducing them to peers in those organisations so that they can look out for an opportunity.
According to the Founder, the ReferHire community has more than 600,000 professionals and 95,000 companies across verticals. It claims to have generated around one million job views and matched over two lakh jobs with candidates. The startup also estimates to have placed around 5,000 candidates via its network.
The company has raised an undisclosed amount of angel funding and is looking to raise fresh investment.
Founded by Ashish Manchanda and Riti V. Srivastava in 2017, Culturro is in the business of making companies more productive. Its tech platform Agnya identifies workplace experience and its drivers and provides actionable insights.
The startup also influences behaviour modification in individuals to create the desired workplace experience. Post action, it constantly monitors the progress.
Since its inception, this Delhi-NCR based startup has worked with eight clients across technology, manufacturing, consulting, and services sectors. Some of its customers include multinational companies and startups like Wunderman International, GetMyParking, Mukunda Foods, and Tookitaki.
The bootstrapped company is currently running pilots for clients in fintech, digital marketing, and ecommerce sectors.
Bengaluru- based Equiv.in aims to solve talent assessment and hiring while keeping diversity in mind. The startup was founded by Naren Krishna in early-2017 and is a business vertical of Stellar Software Technologies Pvt Ltd.
Equiv.in help companies hire women, differently-abled individuals, members of the LGBTQ+ community, and veterans to make India Inc more inclusive. The startup also curates and conceptualises flagship events.
Some of its clients include Indeed, ThoughtWorks, Infosys, SocieteGenerale, Microsoft, and Blackrock.
In 2017, Equiv.in raised a seed round from an angel investor in Hyderabad, and a Pre Series-A round from Mancer Consulting Services.
WATCH: This IIM Bangalore-incubated HR tech startup helps companies hire candidates according to soft skills
Prasad Rajappan started ZingHR in 2014 to bring in lean HR, employee experience, and performance culture as the driving principles to achieve definitive business goals like top-line, EBITDA margins, and people's engagement.
From startups to medium-sized businesses and Fortune 500 companies, ZingHR works with a cross-section of industries to deliver business strategy alignment, team execution, and maximum people performance.
According to Prasad, the Mumbai-headquartered startup is being used by more than one million employees in over 500 companies.
The startup has raised about $2.5 million from investors including Erasmic Venture Fund (which got acquired by Accel Partners), Mumbai Angels, Bhavin Turakhia of Zeta, and Dev Raman of Triton.
Avsar was founded in 2016 to bridge the gap between India’s talent and the growing pool of opportunities. Based in Bengaluru, Avsar is the brainchild of Navneet Singh, Satyabrata Sethy, Nitish Rao, and Prateek Jha.
Essentially an end-to-end HR service provider, the startup takes into account the aspirations of both the jobseeker and the employer. It provides a plethora of services, including contractual staffing, payroll and compliance management, CXO and executive-level hiring, lateral recruitment, and volume hiring.
Started with just two clients in 2016, Avsar claims to have built a portfolio of more than 150 clients over the last three years across 15 industries. Its clients include various market-leading players like Amazon, Flipkart, Udaan, BharatPe, Google Pay, Dunzo, Swiggy, Zomato, Bigbasket, Kotak, HDFC Bank, Mphasis, and Capgemini.
The startup claims to have placed more than 30,000 candidates for the year 2019 alone.
(Edited by Saheli Sen Gupta)
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