Forward and Upward: HR Technology in 2017
Even though the fast-paced HR tech landscape is creating a dynamic market, as we step into 2017, every existing HR technology market will be poised for disruption
The use of technology is no longer the domain of IT functions alone. It has become an integral part of many different functions in large global businesses. This is true of HR as well, where the use of technology and its effects on the workforce is a major area of focus for C-suite executives today. Research consistently indicates that business leaders plan to increase their investments in HRIT and HR analytics. Firms that use analytics effectively already benefit with over 12% better talent outcomes. Further, HR technology has emerged as a strong magnet for investors in recent years. According to a recent Tracxn report, HR tech company formation has grown each year from 2009, with over 200 startups founded in India in 2015. Investor activity has been on the rise over the past three years, both in terms of funding and number of rounds. $49M was invested over 31 rounds in 2015 the peak funding for the sector, while $16M has been invested this year. With major trends and players drivin...
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