The Modern Day HR Department is swamped with continuous challenges in recruiting, onboarding, L&D and retention, on top of the administrative legacy it is carrying.
Digitisation and modernisation could be the solution, yet this is a complex process. Knowing what is out there, understanding the possibilities, in order to make a well-thought out and forward-thinking decision, could make things a whole lot easier.
Considering HR Tech as the “Modern Day Alice in Wonderland HR Department” holds the risk of getting sucked into the Rabbit Hole, but exploring the huge opportunities is quite intriguing and let’s be honest inevitable.
The question is: “How far down the Rabbit Hole do you want to go?”
55% of CHRO’s already had a digital transformation strategy in place and were executing it in 2019 according to the Hackett Group Survey. That number is expected to rise to 84% over the next two to three years.
Also 25% of companies fail half of their projects and 60% of companies changed their Business Model to adjust to AI adoption according to the Artificial Intelligence Global Adoption Trends & Strategies report.
It seems HR Technology is being developed at warp speed, while companies are bedazzled by the potential of the applications, not yet the application itself.
(Also read: AI in HR. The Good, The Bad and The Ugly?)
From AI innovations to virtual reality, the way organisations conduct operations with HR Tech is constantly shifting and evolving. HR Tech Start-ups are being innovative and often create solutions for specific new challenges or demand in features.
New technologies, now being developed, often opt to do one thing and handle that perfectly. There is nothing wrong in that strategy, on the contrary, they fuel a new wave of synergies in the HR Tech Market. In due time they will need to partner up, develop side ventures and/or white label their application if they have not already been acquired by a more mature HR Tech Vendor first.
This permanent wave of innovation leads to a hyperactive and disrupted HR Tech playing field that is be extremely hard to navigate for the uninformed.
Evolving HR Tech Ecosystem
Traditional HR software is adjusting rapidly in an effort to improve their Employee Experience and stay relevant.
In the past the focus was on transactional HR, administrative support, staffing & scheduling, Human Capital Management, HR automation and so on. However, in light of today’s challenges and the importance of the digital employee experience, even the market leaders are forced to seek out start-ups and scale-ups who are improving the experience or enhance their efficiency.
Start-ups offer tremendous improvements in specific areas of expertise, yet often they want to conquer the HR world on their own. They could be the perfect complement or feature for another application or another custom HR Tech system. This would allow them a faster and more reliable way to market.
BELGIUM has now over 200 native HR Tech solutions
It is official!
For the first time in history HR Tech Valley curated over 200 suppliers of HR Tech software with Belgian roots. From traditional providers to the newest start-up, our list includes several different categories - we had to rethink due to the ongoing evolution.
The map holds over 200 digital HR solutions grouped into twelve categories. This is remarkable for a country such as Belgium.
Yet, when you give it some thought it is not;
Belgium has 3 languages, a very complicated legal system and every challenge that HR is facing worldwide is present in this small ecosystem.
So in fact, if as a HR Tech start up you can make it here, you can make it anywhere.