Interesting HR Technology Solutions You Should Consider in 2023

Every CEO now wants to take a look at existing HR Technology solutions to modify their business strategy in the disruptive environment. There are numerous core HR tools that bring in immense business value to the CEOs. Traditionally, HR teams are known to invest in core HRIS and Human Capital Management solutions to meet their daily HR needs. But, during the COVID-19 and subsequent return to work, CEOs have understood that they need to equip their HR managers with more data-driven HR technology solutions for better results. If you are looking to invest in modern day HR technology solutions, you can refer to our HR Tech RADAR 2021 that covered 250 unique innovators. Here are the most interesting companies that emerged during our analysis for the upcoming edition of the HR Tech RADAR 2022-2023 series.

Affida

Resume parsing tool is a very important part of any HR’s hiring strategy. It requires a solid technical system to collect, mine and accumulate insights from CVs in quick time. These talent identification software tools are increasingly become the heart of modern day ATS which make jobs easier for sourcing agents and enterprise-level recruiters. That’s where Affida fits into the HR tech stack.

Affida is an AI for HR company that provides bespoke solutions for recruitment planning and management. Affinda’s RecruitmentAI Suite could prove to be a critical investment for CHROs looking to completely streamline their hiring processes with minimum human intervention. In our research for HR Tech RADAR, Affida emerged as a top contender in the list of powerful AI engines for recruitment. Its VEGA AI engine drives its major document processing products, including Resume Parser and API, Resume Redactor and Invoice Generator. This free to use AI tool can read and parse CVs in bulk across 56 recognized international languages, such as Hindi, English, Spanish, Italian, French, German, Portuguese, Russian, Turkish, Polish, Indonesian, and so on.

Vantage Fit

Fitness is a great leveler at workplace. Post COVID pandemic, we are witnessing a significant rise in the number of CEOs and CHROs prioritizing employee health and wellness at “anywhere” workplace locations. CEOs are taking heightened levels of interest in what their employees do as far as maintaining good lifestyle is concerned. They are inspiring their employees with fitness goals that directly influences their performance at work and elsewhere.

We have so many examples from our CXO Interview Series that point to the proactive role that CEOs are playing in making their organizations healthier in every possible way. In the era of health-savvy CEOs, we have some phenomenal HR technology solutions that specifically enhance employee well-being and productivity, such as this AI-powered app called Vantage Fit.

Vantage Fit’s AI algorithm tracks the lifestyle of your employees and motivates them to maintain a healthy activity routine in a cost-effective manner. This not only helps to enhance workplace productivity but also reduces healthcare-related costs incurred by employers and employees due to occupational diseases. For companies looking to normalize discussions on health and fitness, this is the time to do it digitally! So, if you want to join the league of health-savvy CEOs, leave no options unexplored when it comes to investing in a employee wellness HR technology tool in 2023. It’s totally worth the shot with software like Vantage Fit.

Deputy

Deputy is a fast-growing time management software and mobile app maker that caters to the HR needs of a modern organization. Many studies reveal the importance of investing in a reliable time management app or software to optimize employee’s resources. With teams mostly working in hybrid or remote modes across different time-zones, it becomes extremely important for managers to communicate in a straight manner through multiple meeting touch-points.

Deputy HR Tech – Deputy: Scheduling, Time-sheet & Time Clock Software

Deputy does the job with finesse for someone in your team who can’t make it to the meeting and calls out sick by finding a qualified replacement without a single phone call or text. Text-based swapping alerts and messaging prevents conflicts in scheduling and frees up the HR’s team in an intelligent manner.

Deputy provides integration to all major HR Tech solutions in core HCM and payroll management categories.

Bambee

HR compliance and policy management is one of the most complex tasks assigned to HR teams. It is not only time-consuming but also riddled with technical bottlenecks. That’s why only 12% of the US-based companies positively state that their HR teams are able to satisfactorily onboard new employees without any compliance issues. The remaining 88% of the companies and their HR teams are left to mercy of chance and fate resulting in poor organization HR planning. Small companies that can’t afford to invest in a HR compliance manager can look at a smart HR technology tool called Bambee.

Bambee’s HR Autopilot assists your dedicated HR Manager to craft relevant HR policies suiting your business needs without any hassles.It also provides an employee communication app – “Employee Voices” that lets your employees share concerns in online mode. Business owners and managers receive real-time alerts so that you know potential problems in the team and can proactively act to resolve these.

Bonusly

Candidates turn into employees the minute they walk into the office or log in to start working. Rewards and recognition enhance the motivation and loyalty levels among employees.Accelerated speed of digitization has influenced the way employees look at their employers for better opportunities at workplace that go beyond monetary rewards. Modern HRs are playing a great role in building an inclusive corporate culture by rewarding and recognizing employees from diverse backgrounds, prominently eliminating biases at workplace by deploying rewards and recognition platforms like Bonusly.

Bonusly thrives by providing them with integration into the team from day one which plays a huge impact to start things off on the right note. It is an employee recognition platform and helps in building a culture of recognition and appreciation. It’s a huge favorite of HR professionals globally, since it is fun to use, easy to learn, and generates goodwill within teams and departments. Bonusly offers cash, gifts, or gift cards against reward points earned by employees.

Caroo

Should corporate gifting companies be a part of HR Technology stack? Yes, we think so! And, like Bonusly, we need a solid technology platform that matches the e-commerce standards of customer experience, only this time we are talking about building a product showcase for employees! Caroo for onboarding a new hire automates the entire process from the minute a new joinee walks into the office with a bespoke welcome program. This autopilot program helps to create an”unforgettable first impression with every hiring class.” This software is best for employee engagement with employee rewards and recognition packages. The premier employee care platform makes showing employee appreciation incredibly easy – every care package can be customized and sent in mass to your teams. Every bit of the care process is summed up into one on this end-to-end HR platform.

NectarHR

Are you suffering from the same problems that most high-growth companies suffer from — high attrition rates, low morale levels, high dissatisfaction at workplace, increasing interpersonal conflicts? Then, you should seriously look at a culture enablement tool that syncs with your existing organizational development and employee experience management suite. Meet, Nectar, a modern day HR technology software for employee recognition and rewards.

With Nectar, managers can create a great workplace where employees constantly strive for excellence, values and success. Nectar is best known for employee engagement too where managers can stay connected to their team members through “shoutouts”, and “rewards”. It helps companies reward outstanding work through its top-rated recognition and incentives set directly through any of your modern day HR Tech suite, like Slack, Microsoft 365 or Google Suite. It gives all team members a chance to express sincere appreciation and acknowledgment no matter where they are located. It can also be used for new hires, and to keep up with employee performance.

CoAdvantage

CoAdvantage is an HR outsourcing solution provider, but it has also measured up to its task of delivering a HR technology in recent months. It provides an integrated HR management portal called CoAdQuantum. This online portal is meant for HR managers and employees who require a clear, streamlined HR workflow management tool. CoAdvantage is best for people management and supports growth of small businesses. It provides consultation for succeeding in several areas including HR resources – workplace safety, payroll, benefits, and employee development.

CoAdvantage will cover you for both HR and the financial departments, something that many other HR tools are simply incapable of competing with in HR data management and business intelligence.

Confetti

Looking for an enchanting HR experience management platform that makes your organization look great? Here’s Confetti for you. Aha, the name makes lot of sense, isn’t it?

Bringing Confetti team building software to your HR technology stack adds a bit of bling and charm without losing track of HRM’s core proposition of turning your workplace into a ‘great place.’ Confetti HR software, known for team building, offers more than 1300 exciting and fun workplace experiences for your workforce. It offers holiday parties, happy hours, and smoothie stations throughout the year and enables companies to seamlessly organize customized, multi-vendor work parties with just a few clicks.

Our love for Confetti’s virtual team building exercise is unmatched. Check out the list here:

Talmundo

A majority of the organizations lose their new recruits within the first few weeks due to poor employee transition frameworks. Reporting analytics on how transitions occur has enabled HR SaaS companies to empower HR and Line Managers with better insights at every level of onboarding a new employee. Internal employee transitions can take days and weeks to happen, and they take a lot of time to show results. If not done with planning, these could even backfire on the management, ruining the prospects of providing the replacement with better opportunities within the organization. Employment transition management software like Talmundo helps organizations make a great impact on the way employee onboarding and cross-boarding are managed during personnel replacement and organizational change.

Conclusion:

We would continue to focus on the growing ecosystem of next-gen data-driven HR technology companies that could transform the way organizations manage people and their workflows. From hiring to exit, each stage of employee lifecycle can be influenced with an infusion of data-based analytics and insights which result in desirable business results. Moreover,companies that use these HR technology tools with a democratized approach are likely to build a great name for themselves in the gallery of “great places to work.”

So, what does your HR tech stack look like and what are your investments in AI for people management?

To share your insights with us and to know more about our HR tech RADAR, please write to us at sghosh@martechseries.com