The HRTech market segment has continued to maintain strong momentum with the investment of $8BN+ in the third quarter of 2021 as compared to the year 2020 with only $1.6BN+ deals in the HRTech Industry.
The HRTech market segment has continued to maintain strong momentum with the investment of $8BN+ in the third quarter of 2021 as compared to the year 2020 with only $1.6BN+ deals in the HRTech Industry across 8 main HR categories:
- HRMS
- Talent Acquisition
- Talent Analytics
- Talent Development
- Talent Engagement
- Talent Management
- Talent Operations
- Total Rewards
The top 3 trending categories according to our preliminary research are:
Talent Engagement:
They may develop and install a culture of connection, boost productivity, and build a more resilient workforce for competitive advantage by taking a whole-person, human-centered approach to all they do. The focus is on the entire workforce, which includes Part-Timers, Contractors, Gig Workers, Secondments, Interns, Potential Employees, and Returning Alumni. Focuses on Performance Management systems, Leveraging employee collaboration to improve employee experience and a spotlight on employee Mental Health and creating inclusive workplaces.
Talent Acquisition:
The focus continues to be on the freelance market & hourly workers, background screening is driving the interest for this segment as well as Applicant Tracking Systems.
Talent Development:
An era of virtual, distributed, and hybrid workforce is necessitating employees to upskill & be ready for the future of work.
With SERIES C & D funding cumulatively contributing to over 47% of the total invested dollars, it indicates the focused interest of mature and proven solutions. The largest investment for the third quarter of 2021 was $250 M into Talent Operations Platform PapayaGlobal.
About the author:
Riya Shah is part of the Digital HR Advisory & Consulting team at hrtech. With an Industrial Psychology background, her focus at hrtech is to evangelize Enterprise HR teams to adopt technology and enable their smooth transition to becoming a Strategic Business Partner.
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.
hrtech’s Advisory & Consulting vertical helps address your business and people challenges. Our tailor-made advisory services focus on understanding the core problems, providing recommendations, and identifying the right-fit solutions for your organization.
Our dedicated research teams continuously track HR & HR Technology industry trends, enabling us to provide valuable insights. We share our findings through various channels such as blogs, reports, infographics , and case studies. As co-creators of Singapore’s HRTech Marketmap and authors of the HRTech Market Outlook report , we stay at the forefront of industry developments.
