Multiple factors accelerating the Digital HR adoption in Singapore including the Singapore Government’s productivity focus and the world’s largest work from home experiment
Singapore has traditionally been seen as a laggard in HRTech adoption. But the scenario seems to be fast changing, especially over the past two years. Enterprises of all sizes and industry segments are now looking to adopt new-age HR Technologies to digitalize their HR functions. This has been further accentuated by the COVID-19 pandemic outbreak as enterprises are looking to make HR systems seamless for a remote workforce.
We are happy to unveil the 2020 Singapore HRTech Market Map that features 160+ local and overseas HRTech service providers, which are intensely competing in the Singapore talent marketplace. These new-age HRTech service providers are now helping enterprises hire, train, engage and retain employees better, with a strong focus on increasing “employee experience” and “organisational productivity”.
The Market Map has a detailed categorization to help HR Professionals and Enterprises to choose the vendors in line with their specific need. The service providers are categorized across EIGHT major Talent segments and multiple sub-categories:
- Human Resource Management Systems (Enterprise; SMBs)
- Talent Analytics
- Talent Acquisition (Applicant Tracking System; Sourcing – Job Boards, Referrals, Tech Hiring, Non-PMET; Screening – Assessments, Video Interviews, Background Check)
- Talent Development (Coaching & Mentoring; Competency Management)
- Talent Engagement (Employee Communication; Onboarding; Performance Management)
- Talent Operations (HR Automation & Bots; Payroll)
- Talent Planning
- Talent Rewards (Benefits, Wellness, Compensation Management)
To facilitate the HR teams to collate more details about the service providers, the downloadable version of the Market Map (PDF, 11 MB) has hyperlinks of all those service providers who are already present in hrtech.sg’s marketplace.
Amongst the key market drivers for HRTech adoption is the largest “work from home” experiment that is currently being undertaken by many enterprises globally as a result of the recent global pandemic outbreak of COVID-19. With a large part of the Singapore workforce too becoming remote, HR teams are looking to adopt newer systems and technologies to automate their talent functions, in order to provide a seamless employee experience and better engage their workforce.
Another key market driver has been the consistent “productivity” push of the Singapore govt and the extensive support that it has been providing to Small and Medium Enterprises (SMEs) through various programs (such as IMDA’s Singapore Digital (SG:D) initiative). The recently unveiled Resilience Budget by Singapore’s Deputy Prime Minister and Finance Minister Heng Swee Keat for Singapore enterprises will also provide a strong impetus to the HRTech adoption.
Enterprises globally are widely adopting systems from large enterprise providers as well as specialised HR tech vendors, depending on their specific workplace requirements. But what is evident is that enterprises that focus on HRTech as part of their transformational agenda are creating “sustainable economic value” and “better workplace experience” for their employees.
The 2020 Singapore HRTech Market Map is a comprehensive and collaborative research product of hrtech.sg (Swechha Mohapatra & Sriram Iyer), along with Adrian Tan, renowned HRTech blogger. Incidentally, Both Adrian Tan and hrtech.sg had worked together on the 2019 Market Map also, which was widely acclaimed for its comprehensive coverage of the categories and players.
Special thanks to Institute of Human Resource Professionals (“Community Partner”), Singapore Human Resources Institute (“Industry Association Partner”) and Singapore Polytechnic (“Learning Partner”).
Download the 2020 Singapore HRTech Market Map (PDF, 11MB) from here.
For further information and queries reach out to us at [email protected]
About the author :
Swechha Mohapatra (IHRP-CP, Associate CIPD) is a Senior Consultant – Digital HR at hrtech.sg and has over 7 years of global experience in various Talent functions. She is a passionate HRTech evangelist and an avid learner who is certified Six Sigma-Green Belt with a background of MBA (Specialization in HR and IT) and Master’s in Labor Laws and Labor Welfare.
About the company :
Founded in 2018, we are a Singapore-based HRTech Analyst firm dedicated to facilitating Workplace and Workforce Transformations that drive impactful Business and HR outcomes. Our ultimate vision is to empower HR professionals to transform their organizations by seamlessly integrating technology and human-centric approaches.
From our very beginning, we have been committed to building a TECH-DRIVEN and DATA-CENTRIC HR ECOSYSTEM that empowers organizations to achieve successful Workplace and Talent Transformations, while enabling HR teams to evolve into Strategic Business Partners.
At hrtech, we recognize the paramount importance of adapting to the ever-changing demands of the modern workplace. Our unique value proposition lies in automating and digitizing HR processes to initiate a transformative mindset shift. By embracing our ecosystem, organizations can leverage the power of technology to streamline operations, enhance Business and HR productivity and efficiency, elevate employee experiences, and unlock their full potential.
Our comprehensive ecosystem serves as a catalyst for the digital transformation of HR functions, enabling you to optimize efficiency, foster innovation, and cultivate a thriving workforce amidst constant change. To facilitate this transformation and drive organizational success, we operate through our four distinct verticals of Academy, Advisory & Consulting, Marketplace Solutions and Talent OnDemand.