Human Resources (HR) professionals have to wear many hats. From recruitment, to handling employee performance, relations, training and benefits, to planning and maintaining administrative functions, HR management is not just limited to hiring anymore. With the role of HR becoming critical in supporting business, companies are increasingly looking to integrate technology into their HR operations to streamline their tasks. Seeing an opportunity, a slew of HR technology startups are building products using artificial intelligence (AI), machine learning (ML), data analytics and blockchain to help enterprises enhance their business outcomes.
AI OVERHAULING HIRING PROCESS
Nitin Kumar signed up on several job portals in early 2020 while looking to switch jobs. What worked well for him was an AI-based platform Instahyre that threw up relevant listings which matched his credentials. “The platform listed tech roles suited to my skill set and from known companies, which was not the case with other portals,” said the Delhi-based software developer. Instahyre has developed a matchmaking algorithm that analyses millions of data points to find the job best suited for candidates using the platform.
The Delhi-based advanced hiring platform is streamlining recruitment--from discovery, to communication to engagement-of not just job seekers but also companies. Sarbojit Mallick, co-founder and CBO, said “Our platform is solving three key problems in the recruitment industry: high cost of hiring talent that often turns out to be unreliable, long hiring process and difficulty job seekers face in discovering the right job.”
Another startup changing the dynamics of recruitment is ReferHire. As per founder Rohit Tewari, an estimated 70 per cent jobs aren’t advertised and over 65 per cent vacancies get filled through referrals. For this reason, making the right connections has become an important criteria in advancing one’s career, which puts the majority of candidates who haven’t graduated from top schools at a disadvantage.
“We’re enabling professionals to build multiple peer level connections in specific companies they want to target next,” said Tewari. ReferHire is a P2P social hiring network where users can check vacancies their peers may have put or tap them on behalf of their company to earn their referral bonus.
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Top 3 Cool Products of 2021
The year 2021 has seen several new integrations in terms of people’s lifestyle, the technology used, and much more. While lockdown and isolation have been stressful with the pandemic, we sure have developed a habit of ordering innovative and interesting products online and finding good use in something cool. Some cool products have surfaced in this duration, and you might want to get your hands on them.
What Does the SPAC Buzz Mean for Indian Startups
SPAC or Special Purpose Acquisition Company is fast becoming a preferred route for startups to list on the US bourses, but a tough regulatory landscape pose challenges After a failed attempt at an IPO and losing billions of dollars two years back, WeWork is finally going public again. Has the office-space sharing company’s finances changed for the better this time? Nobody knows. Instead, the company has taken a different route to reach the stock markets: SPACs.
TECH- LEADERSHIP SEARCH MAGICIAN
2021 is a year full of hopes for start-ups as they look to increase the revenue generation and try to keep their venture on an upward growth trajectory. 2020 was a year full of ups and downs. The lockdown proved to be an obstacle in the growth of these start-ups as the economy slumped and almost everything came to a standstill. After the upliftment of the restrictions and the lockdown itself, things started picking up pace again and there was rapid development for the start-ups not to forget, many new start-ups came to the fore. The start-ups got fresh funding and with those funding one of their main targets was to broaden the employee base and hire in key technology and leadership roles. Edtech, E-commerce, software-as-a-service (SaaS) and Fintech have gained significant scale and are on the lookout for talent who can initiate an even more aggressive growth model.
Think Like a Disruptor
If you want to shake things up, you must have a mindset that’s different from everyone else’s. Here are three ways to reshape your thinking.
WILL YOU WALK TO WORK?
With the outbreak of Covid-19, the ensuing security risks and administrative challenges of a largely remote working office culture have proven to be daunting to employees and organizations alike. Providing a solution to ease this, using coworking spaces and workspaces which allow users to book a place to work from near their homes is expected to see a rise. The Government norms around occupancy for private offices are not expected to become lenient any soon. However, industries such as Banking, Financial Services, Insurance and many more carry huge data security risks which cannot be secured by employees at their homes. This month at Entrepreneur, we analyze how well prepared are coworking spaces to provide COVID-safe and security-enabled spaces near homes, thereby providing the same atmosphere, amenities and cyber security that an entity would have given at its own facility. Will this be the new future of work?
A ‘SHOT IN THE ARM’ FOR INDIAN COMPANIES AND START-UPS
BETHENNY FRANKEL IS A TIME-MANAGEMENT MACHINE
She builds multimillion-dollar brands, stars in TV shows, and vigorously defends every moment of her day. The secret? It starts with deciding what matters (and what doesn’t).
THESE STARTUPS ARE PREVENTING INDIA'S RICH HANDICRAFT CULTURE FROM FADING AWAY
Startup community realised artisans typically are unaware of marketplaces and heavily rely on middlemen
From SMS Era to Internet Age, This Unicorn Helps Enterprises Build Strong Customer Relation
According to the founder Beerud Sheth, Gupshup at present serves more than 100,000 businesses and developers globally
How 1 Ex-Cognizantand 3 former ZOHO Employees Went On To Create A Unicorn
In April 2021, Chargebee raised $125 million in Series G round, almost tripling its valuation to $1.4 billion