In today’s business landscape, the role of Human Resources has become more complex than ever before, and technology has played a key role in addressing this challenge. This has given rise to a new category of businesses, known as HR tech solution companies, which are dedicated to providing innovative solutions for human resources management through the use of technology.
In this blog post, we will be exploring what HR tech is, how it works, and the benefits it offers to businesses. We will also be discussing the top 6 HR tech solution companies that are making waves in the industry and the unique features that make them stand out from the competition.
Whether you are an HR professional looking to streamline your operations or a business owner seeking to optimize your workforce management, this post is for you. So, let’s dive in and explore how you can revolutionize your HR department.
What is HR tech?
HR tech simply refers to technology that is designed to make HR processes more intuitive, easier, streamlined, and more efficient. They can range from simple tools like spreadsheets and basic HR software to more sophisticated systems that leverage advanced technologies like artificial intelligence, machine learning, and natural language processing.
These companies aim to make the following tasks run smoothly:
- Recruitment
- Onboarding
- Payroll
- Performance management
- Employee engagement
- Training and development
This can help HR professionals to save time, reduce costs, and improve the overall efficiency and effectiveness of the department. These solutions often provide valuable insights and analytics that enable the department to make data-driven decisions that align with the common goals of the business.
How can HR tech help?
HR tech companies can ensure your workplace is running smoothly. The most important element of a business is the employees. If they’re happy, you’re likely to be successful and efficient. This kind of technology automates and eases workflows to make sure HR management is running smoothly.
Here are a few key areas it can improve.
Employee experience
If your employee experience isn’t the best, you’ll have a high staff turnover. This is never a good look. In order for your team to work together and be invested in the common goal of the company’s success, you need to ensure they are supported.
HR tech, like chatbots, can make sure you’re checking up on your employees as it makes asking for feedback super quick and easy. It also means your HR team can take action on any issues before they develop.
Onboarding
We all know what it’s like starting a new job. Terrifying, right? Even more so if you don’t feel supported or well-connected with your team. Simple tasks like introductions and quick tutorials can be missed if an HR team is under pressure.
HR technology companies focus on making the onboarding process as smooth as possible. Whether that’s having a knowledge base full of information about the company and their role, or a chatbot providing the new hire with a list of useful contacts.
Employee engagement
Don’t let your team ‘quiet quit’. In order to motivate employees, improving engagement is essential. Tech solutions can make it easier for managers to recognize and reward employees for their hard work and achievements. This can help create a culture of appreciation and recognition, which can improve employee engagement and retention.
It can also provide employees with personalized training and development programs. This opportunity for progression can help to keep employees engaged and motivated.
Performance management
Keeping track of a full team of employees is a big task. If not managed properly, the efficiency and profitability of the company are at risk. You’ll also be at risk of alienating employees who are performing well consistently and receiving no recognition.
HR solution companies ensure that no member of your team slips under the radar. It’ll make it clear when certain employees need more support or guidance, which will also improve their experience at the company.
Recruitment process
The hiring process can be long and arduous. An endless list of CVs and cover letters to read through can be overwhelming and time-consuming. Especially when a surprising amount of candidates seem to not really want the job. It’s a waste of everyone’s time.
From filtering applications, asking important questions, and reference checking to eventually scheduling interviews, HR tech solution companies can automate the whole process.
6 Best HR tech solution companies
Whether you’re an entrepreneur embarking on a startup project and want to make sure you look after your employees, or you’re a huge fintech firm in San Francisco wanting to revolutionize how your company operates. Check out the following HR tech solution companies that could help you out.
1. Namely
Namely does it all. It’s designed to help out mid-size businesses streamline every element of their HR department. Here are a few key features of this management platform:
- Talent management: With a focus on creating a positive work culture, Namely offers a talent management package that can be seamlessly integrated with Slack. This includes a newsfeed to share important announcements, achievements, and even birthdays. It also gives continuous feedback to employees and allows you to easily track personal goals and performance.
- HR analytics: Without keeping an eye on metrics, you’re going into your HR strategy blind. Namely has an easy-to-understand visual dashboard that offers all the insights you’ll need to make informed decisions. This includes diversity in the company, KPIs, and time off. If you want, you can even have custom reports written for you.
- Payroll and time: Namely offers a personal payroll dashboard for every employee. This means there are no gray areas when it comes to pay. Each team member can see a clear breakdown of their salary. Their Payroll Wizard is available to make the processing time super quick and simple in three steps, so you can ensure everyone is paid on time.
There are plenty more great features to discover as well. To find out what this will cost your business, you’ll need to book a call to discuss your needs and what package will suit you. They have three main packages you can see below.
2. WFHomie
Unlike Namely, WFHomie doesn’t promise to take care of all human capital management (HCM) tasks. Instead, it focuses purely on employee experience. They are an HR tech startup that focused on the boom of remote working (thanks to the pandemic), offering solutions to help unite a team that may be based all over the world. Here are some of their coolest features:
- eNPS score: An easy Slack integration means you can calculate your Employee Net Promoter Score in seconds. This refers to how likely employees are to recommend working for your company and will help offer insights into employee satisfaction and loyalty.
- Employee insights: By gaging sentiments behind internal communications, you’ll be able to understand how your team is truly feeling. This will also highlight pain points in different departments, so your HR team can be proactive in addressing issues.
- Employee recognition: A kudos bot in Slack recognizes those performing exceptionally well and sends out praise and rewards. The employee recognition tool also allows HR to give shout-outs in a virtual ‘public’ setting, improving your eNPS.
WFHomie is used by big brands like Spotify, Indeed, Facebook, and Google. If they trust this tech company, you should too. Book a demo to find out whether it’s right for you.
3. BambooHR
BambooHR markets themselves as the ‘complete HR software’. Sounds attractive, right? These one-stop-shop SaaS companies can be super helpful at streamlining your HR workflows and encouraging a positive workplace culture. Let’s take a look at their key features:
- Hiring and onboarding: Applicant tracking systems, talent acquisition, new hire onboarding, and even offboarding are all simplified with BambooHR. Useful analytics means you can identify bottlenecks and spot inconsistencies. The software also makes it super easy to post jobs to multiple platforms and allows you to create personalized onboarding packages to make sure everyone settles in smoothly.
- Data management: Keeping track of employee data is very important. For this reason, BambooHR offers a secure database with 49 automated built-in reports and a mobile app so management is easier on the go.
- Employee experience: Frequent check-in surveys measure employees’ happiness, engagement, and relationship health at work, improving your eNPS. There is also the option for performance assessments to help your team reach their goals and set new progressive targets.
If this sounds up your street, why not try their free 7-day trial? If you don’t need any more convincing, check out their two different plans below, and contact them for a free price quote.
4. Workday
Workday is a cloud-based management system that has been around for years. It’s no secret why it’s so successful. It offers solutions for all HR services. Check out some of their best features:
- Core HR Management: Workday’s core HR management system offers a centralized database of employee data, including personal information, employment history, benefits, compensation, and more. This feature allows HR professionals to easily manage employee records, track employee progress, and streamline their HR processes.
- Talent Management: Workday’s talent management features help organizations manage the entire employee lifecycle, from recruitment to performance management and beyond. This includes tools for recruiting and hiring, onboarding, career development, and succession planning.
- Payroll Management: Workday’s payroll management system automates the entire payroll process, from calculating salaries and bonuses to organizing deductions such as for taxes. This feature reduces the likelihood of errors and ensures that employees are paid accurately and on time.
You’ll have to talk to their sales team to find out what their HR platform will cost you. But if Netflix invests in it, I’m sure you can trust it.
5. Hireology
As the name suggests, Hireology offers software solutions that are dedicated to making recruitment and onboarding a smooth process. A few key features make this possible:
- Attract: A powerful applicant tracking system (ATS) automatically filters applications based on the requirements of the position. This means no more manual screening and no more time wasted reviewing applications. It allows businesses to focus on attracting top talent and building relationships with candidates rather than spending valuable time sifting through piles of resumes.
- Hire: The platform includes a range of scheduling tools that allow businesses to coordinate interviews with candidates, minimizing the risk of scheduling conflicts. This ensures everyone involved in the hiring process is on the same page. The platform also has automated communication tools that allow businesses to send job offers, follow-up messages, and other important updates to candidates.
- Manage: Hireology includes a range of tools designed to help new hires get up to speed quickly, including automated orientation programs, training modules, and customized onboarding checklists. It also offers performance-tracking tools that allow businesses to monitor employee progress, set goals, and track the success of their training and development programs.
If your HR department is running smoothly in most areas but is struggling with recruitment, then Hireology might be the right HR tech solution company for you. Each package includes different features, but you’ll have to contact them for a quote.
6. Deputy
Deputy focuses on shift scheduling and time tracking. This can be super helpful for HR departments in the hospitality or healthcare sectors. The following features ensure no business is held back by outdated timesheets.
- Scheduling: Deputy’s scheduling feature allows managers to create schedules for their employees quickly and easily. The drag-and-drop interface makes it simple to assign shifts, and the software can automatically fill shifts based on employee availability and skill set. The scheduling feature also allows employees to request time off, swap shifts with coworkers, and receive notifications about schedule changes.
- Time and attendance: The time and attendance feature allows employees to clock in and out using their mobile devices, desktop computers, or Deputy’s kiosks. The software can also be set up to automatically track break times and overtime. Managers can review time sheets, approve time off requests, and generate reports to help with payroll processing.
- Communication: Deputy’s communication feature allows managers and employees to stay connected throughout the workday. The software includes a chat feature that allows employees to communicate with each other and with managers in real-time. It also includes task lists and notifications, so employees can stay on top of their responsibilities and managers can keep track of what needs to be done.
The pricing for Deputy works a little differently. Instead of a set monthly price, you pay per user. This can mean it’s super affordable for midsize and small businesses.
Conclusion
The role of HR in businesses has become more complex, and cutting-edge technology solutions have been developed to help address these challenges. Thousands of providers can now offer innovative solutions for human resources management, meaning companies can prioritize their employees.
The benefits of HR tech solutions include saving time, reducing costs, and improving efficiency and effectiveness. With the increasing adoption of HR tech solutions, organizations are better positioned to attract, retain, and develop top talent, leading to improved performance and increased competitive advantage.
Don’t get left behind using outdated technology to run your business. Show your employees you care and invest in an HR tech solution company.
