The rise of Artificial Intelligence (AI) and its human-like abilities has spurred significant change across various sectors. BBC Research notes that AI has been expanding at an impressive annual rate of 20% over the past five years. By simulating human intelligence through advanced software, AI is transforming multiple fields. Yet, AI isn’t expected to replace core human-centric roles such as recruitment or crucial elements like empathy and personal connection. The HR industry, which depends heavily on interpersonal interaction, remains less susceptible to complete automation. Tools like chatbots for routine tasks and cloud-based collaboration platforms are enhancing HR functions, while incentive programs continue to boost job satisfaction and productivity.
According to Fortune Business Insights, the global HR technology market anticipated to grow from USD 23.98 billion to USD 39.90 billion by 2029, at a CAGR of 7.5%. With fast-changing work trends, HR departments are adopting new approaches to meet employee expectations. A prominent trend in HR tech is AI-driven recruitment, where machine learning algorithms sift through vast data to pinpoint top candidates, enhancing hiring efficiency and minimizing bias. AI tools also improve candidate engagement via personalized communications, streamline onboarding, and offer insights through workforce analytics. AI is leading a transformation in HR, driving advancements in recruitment, training, performance management, and workforce planning. Companies using these technologies are better equipped to attract, retain, and grow top talent, fueling success in an increasingly competitive global landscape.
We have narrowed down the list of 4 HR tech startup-
iXceed Solutions: iXceed Solutions is a leading Talent and Workforce Solutions service provider to Fortune 500 companies globally focussing on Technology, IT Consulting, Engineering Consulting domains. iXceed has been functioning as one of the leading end-to-end recruitment solutions Internationally(UK), now operational in the Indian market.
It uses an efficient and robust process to develop solutions in the recruitment space. The facilities are primarily tech-skill-based, and customer satisfaction is always based on the best fit for the industry. The company uses Artificial Intelligence-based recruitment solutions to create a best-in-class experience for both the clients and candidates. Some of their clients are- Infosys, HCL, Oracle, Mindtree, NIIT, etc. It is co-founded by Yogita Tulsian, who is also its Director.
Darwinbox:Darwinbox is a cloud-based HR solutions firm. An end-to-end HR platform, Darwinbox offers solutions for recruitment, core HR processes, employee engagement, performance management, employee movement, and others.The platform’s AI engine allows a recruiter to analyze a job description and employee profile picking up keywords to arrive at a certain ranking metric. So, if there are 400 applicants for a job, the system will shortlist about 10-15 applicants for the recruiter to talk to, which saves time, increases productivity, reduces costs, and results in better talent acquisition. The three-year-old firm serves over 100 clients, including Paytm, Ekart, Spencer’s, Delhivery, and others.They provide services in Indonesia, Malaysia, Thailand, Dubai, and many more.’
Freshworks:Freshworks makes it fast and easy for businesses to delight their customers and employees.Taking by a fresh approach to building and delivering software-as-a-service that’s affordable, quick to implement, and designed for the end-user. Unlike legacy software, Freshworks builds tech that works for everyone, making it easy for IT, customer service, sales, marketers and HR to do their job and delight their customers.They provide services in Australia, Germany and UK.
Keka: Founded in 2015 by Vijay Yalamanchilli, Keka has swiftly become India’s premier HR tech platform for small to medium-sized enterprises. With a team that has grown to over 550 professionals, Keka offers a complete solution, automating HR processes, and streamlining payroll, recruitment, leave management, and performance evaluation. Serving over 6500 customers globally, across sectors like IT services, pharmaceuticals, manufacturing, and more, Keka manages payroll for 1.5 million employees worldwide, leaving a significant mark on the HR tech landscape.