Many offices in India’s Silicon Valley, Bangalore, are either empty or half full. The work-from-home model that was taken to keep the employees safe has become a norm for many companies. Undoubtedly, the pandemic has created intense and instant changes to how societies operate and how individuals interact and work. A study conducted by Deloitte found that 68 percent of business leaders used automation to manage work during the COVID-19 pandemic. According to McKinsey, the need of the hour is for HR to collaborate on and leverage the landscape of HR tech solutions across the employee life cycle—from learning, talent acquisition, and performance management to workforce productivity—to build an effective HR ecosystem.
Today, HR managers have a more strategic role in organizations as they strive to deal with human capital challenges and sustainability concerns presented by the pandemic. Being one of the single most important functions for any organization in these unprecedented times, human resource management as an industry is on a tremendous growth trajectory. The global human resource management market size is anticipated to reach USD 38.17 billion by 2027, registering a CAGR of 11.7% from 2020 to 2027, according to a new report by Grand View Research, Inc. Now, advances in HR technology have instigated companies to implement a high-tech Human Resource Management Systems. Be it talent hunt, acquisition or payroll, the HR technology has been adding robust features to support advanced data-driven operations.
In this issue, we have identified, ‘10 Most Innovative HR Tech Companies in India – 2021’ that are developing cutting-edge solutions to integrate upcoming technologies into HR systems for enhanced organizational performance. On the cover, we feature Infotrack, an HRTech company that has been in the market for over 27 years, offering services to a broad range of organizations over the period. Infotrack products have made HCM a business transformation enabler with purpose-built custom solutions specially built for the client.