Insights from Proteus
Research, Findings, Best Practices, and Humor
So we know HR is a growing industry, as it grew by about 15 billion last year. Companies are looking for HR solutions and SaaS startups are in the perfect spot to fill this gap. But what are the executives looking for? What HR tech solutions really matter to them?
The Starr Conspiracy in coordination with Human Resource Executive® conducted a survey of 210 business leaders to help determine the hottest HR tech trends for 2015. Their goal was to find out exactly what these leaders would be spending money on. We’re going to dive into some of their findings.
Seems like a no-brainer, right? Managing the performance of a team or department is rigorous. The analysis part alone takes forever. Then you have to worry about coming up with a plan to improve that performance. Once a plan is implemented, you have to continue to monitor and coach the team to make sure they stay on the right path. This presents huge opportunities for HR tech startups.
The age old problem of employee engagement. How do you make sure your team is engaged in the work place? This is a major focus for HR tech buyers in 2015. As more and more research comes to light showing the ties between engagement and overall performance, it’s impossible to deny that the best team is a team that cares about their job. Since so much of the tech world is already geared towards improving engagement a slight tweak to an existing model may be all it takes to launch a LinkedIn-sized company in the employee engagement tech space.
Another major pain point for HR buyers in 2015, but what does this mean for us as HR tech startups? Bersin by Deloitte also highlighted learning and development as a growing growth area in 2015. Start-ups that can use technology to make the tracking of formal and informal learning less cumbersome are sure to be in demand. As more Boomers continue to retire and there are fewer employees to take their place, start-ups that focus on knowledge transfer will also be hot. I’ll personally invest in an onboarding solution that can nail the first 60 days - the 30 days before hire and the 30 days after hire - to significantly reduce time to productivity and culture acclimation.