HR Tech Platforms to look forward to in 2023

As the use of technology in managing human resources has grown in recent years, major employers worldwide have begun adopting HR tech solutions both from specialized HR tech providers and from well-known enterprise software companies like Oracle, SAP, and others. From one-off on-premises systems, businesses have since shifted towards more streamlined platforms, such as SaaS, taking them into the second wave of HR tech. Even small and midsize companies have been making efforts to transition to digitized HR processes, often outsourcing HR technology to the cloud or on-demand suppliers. Workforce analytics, performance appraisal, talent acquisition, employee payroll and compensation and compensation for employees, and benefits administration are all included.

From storing and analyzing information to conducting automatic recruitment and managing benefits and compensation, HR tech simplifies this daunting task and enables HR administrators to be more efficient. Here are some of the HR tech platforms to keep an eye on, as they continue to rapidly grow in 2023 and beyond.

1. Darwinbox

Jayant Paleti, Chaitanya Peddi, and Rohit Chennamaneni founded Darwinbox in 2015. A provider of cloud-based HR solutions is Darwinbox. Darwinbox, a full-service HR platform, provides solutions for hiring, essential HR procedures, employee involvement, reward systems, employee mobility, and other issues. A recruiter can use the platform’s AI engine to examine job requirements and an employee profile, picking out keywords to determine a specific rating measure. Therefore, when there are 400 applications for a job, the algorithm will shortlist roughly 10-15 candidates for the recruiters to speak with, saving time, boosting efficiency, cutting expenses, and improving talent acquisition. Around 100 clients, notably Paytm, Ekart, Spencer’s, Delhivery, and others, are served by the three-year-old business. Therefore, if there are 400 applications for a job, the computer will shortlist roughly 10-15 candidates for the recruiter to speak with, saving time, boosting efficiency, cutting expenses, and improving talent acquisition.

2. Advantage Club

Advantage Club is a global employee engagement platform with benefits like rewards, recognitions, flexible benefits, wellness, onboarding, perks, and communities on a single platform. It provides end-to-end solutions to facilitate employee engagement through exclusive privileges and rewards by brand partners, allowing them to reach out to targeted customer segments. Advantage Club has over 3 million users, a presence in over 100+ countries, 1000+ clients, and 10,000+ brand partners. Established in 2016, Advantage Club is a brainchild of UCLA postgraduates Sourabh Deorah and Smiti Bhatt Deorah, who identified employee benefits as a space to create disruption using data mining and analytics. Headquartered in San Francisco, Advantage Club has an impressive client portfolio featuring Concentrix, Teleperformance, Hexaware, EY, Target, Accenture, BCG, HCL, Tech Mahindra, Tata Steel, Rakbank, Lafarge, Resort World Sentosa, and many more.

3. InCruiter

InCruiter provides remote interview solutions for businesses to identify the perfect fit for their company through precision and accurate evaluation. Standardizing the interview process via advanced automated interview platforms is their vision statement. They have been enabling startups & enterprises to improve their interview process for the last 4 years. Their aim is to let the HR department focus on their core business activities while they look after the interview prerequisites. They have satisfied 250+ Domestic and International Clients (UK, USA, & all around the world) with their innovative interview solutions.

4. Belong

Belong is a platform for predictive hiring that uses data science & predictive analytics to find and engage high-impact talent. They are regarded as one of India’s leading HR-Tech firms. Belong now collaborates with Cisco, ThoughtWorks, Reliance Jio, and Amazon. The machine learning algorithms used by Belong enable businesses to find and target high-fit talent, connect candidates through tailored communications, and quicken hiring processes at scale. The business raised $10 million in 2019. Belong, an HR tech firm created in 2014 with Vijay Sharma, a graduate of BITS Pilani, is a prediction hiring tool that uses data science and modeling to identify and engage top talent. They are regarded as one of India’s leading HR technology firms. Belong works with Cisco, Jio, Amazon, and ThoughtWorks. Employers may find and target highly qualified candidates with the aid of Belong’s ML algorithms, engage candidates with personalized outreach, and cut down on hiring times overall. The business raised $10 million in 2019.

 5. Collibra

Collibra is an edge digital analytics platform that claims to accelerate digital transformation across all functions, providing value outside of essential HR services. With approximately €580 million in funding, they are also the most supported startup in Belgium and have a unicorn valuation of almost €4.5 billion. It enables companies to understand their data better and make more informed business decisions. The Collibra broad portfolio enables enterprise customers and IT to collaborate on a single platform to create a data-driven culture. The digital analytics company is called Collibra. By providing precise, reliable data for every purpose, for every user, and from every source, we unify your entire business. Collaborate with a few of the industry’s top talent. Customers consistently provide positive feedback for Collibra, which is already employed by businesses like Rolls Royce, AstraZeneca, and Legal & General. As a result, the company’s future is promising.