Singapore has a thriving job market. But, its employee turnover rate is among the highest in Asia Pacific. According to a 2018 report of Workday, 46% of Singaporean employees are planning to leave their jobs within a year.
Singapore has a thriving job market. But, its employee turnover rate is among the highest in Asia Pacific. According to a 2018 report of Workday, 46% of Singaporean employees are planning to leave their jobs within a year.
The Chief Human Resources Officers (CHROs) have always known that engagement is crucial to retain talent. They now have innovative HRTech products to help them get employee feedback real time, recognize their performance quickly, and take up other action points involved in talent engagement. The HR teams can also capture relationship data, wellbeing data, and sentiment data of employees seamlessly. In fact talent engagement solutions and workforce analytics are among the fastest growing HR tech solutions in Singapore.
But the market for the other segments of the HR tech is growing too and businesses are moving up the value chain–from compliance-driven tools (such as payroll processing), to automation and AI tools that provide actionable insights in talent management. No wonder, there are 100 plus HR tech start-ups that are creating niche solutions across the broad HR tech categories of Talent Acquisition (sourcing and hiring); Talent Development (learning and development); Talent Engagement (employee relations and performance management), Talent Operations (payroll, mobility), and Talent Rewards (compensation, benefits, and wellness).
As Kelly Services 2018 Singapore Salary Guide highlights: “As with the many industries they support, disruption may come to the manpower industry, with automation opportunities for many HR tasks in the form of digital solutions. HR professionals need to keep up, and leverage on these to help them improve their recruitment processes and for HR consultants, provide the right advice for firms looking to automate.”
With this blog, hrtech is committed to track the happenings in the HR tech industry in Singapore and present the news and views CHROs can benefit from.
About the Author:
Sriram Iyer is the founder & CEO of hrtech.sg, a Singapore- headquartered #hrtech market development and analyst firm. A Human Resources practitioner with over two decades of experience, he is also a Certified Strengths Coach and a passionate #hrtech advocate. In his career, he has also played leadership roles with the Singtel Group Enterprise and Nasdaq-listed Cognizant Technology Solutions. He is also the winner of the coveted Cognizant Chief People Officer’s Global Award in 2010. LinkedIn
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.
