Traditional job posting, dotcom companies are fading away, but the recruitment and human resource industry is still glamorous enough for entrepreneurs. The human resources (HR) and recruitment space is trending with interesting solutions, turning it into an attractive space for investors too. The most exciting part is that Hyderabad startups have been contributing to this emerging and positive scenario. The trend is not just backed by startup companies but also, validated by investors through seed and angel funding and acquisitions that lead this sentiment.
HR scenario in Hyderabad
A recent recruitment index released by Timesjobs.com has confirmed that there is a rise in demand for experienced professionals from 7% to 15%. Real estate, IT, BFSI and telecom are some of the industry sectors that have contributed to the rise in demand. Startups in Hyderabad have responded to this sentiment by introducing their solutions that address problems in the recruitment and HR space.
Darwin Box, a HR software services startup received seed funding from Mohandas Pai. Also, Talent Sprint, which thrived in the skill development and talent acquisition space got acquired by Java Learning Centre. Stockroom.io is another Hyderabad based startup that has attracted seed funding. These episodes validate the interest and spike in startups that are keen on solving HR problems.
Trends and Startups that contribute to this shift
Proctored Tests and Online interviews
PlacementsOnline.in is an online platform that helps recruiters find fresh talent via online resumes and proctored test taking abilities. This helps eliminate several rounds of interviewing and the arduous process of finding talent on college campus. Recruiters need not reach out to physical colleges to find students who are ready for the job. This platform specializes in attracting freshers who are seeking jobs.
Happy minds, a recruiting agency for IT companies has supported its services with a mobile app that helps millennial recruiters use video resumes. They have taken the route of selfie resumes, to eliminate time lags and lack of transparency in the interviewing process. They aim to remove the problem of ambiguity in assessing communication skills before reaching the face-to-face round of interview.
Talent Sprint the most popular in the space of skill development has contributed a great deal in organizing the sector. They have partnered with skill providers to enable fresh talent or unskilled talent to find jobs. This is not only a problem of the unemployed but also of many corporates that struggle with unfinished and unskilled human resources.
To provide the appropriate training and skill sets, TASK is one government initiative that recruiters could look forward to.
A startup that has identified that “Hiring is not the same for every company” is Stockroom.io, another Hyderabad based HR startup that specializes in hiring developers through hackathons. The team aims to sieve and segregate skilled from the yet-to-be skilled talent pool. They are driven to ease the cumbersome process of hiring technical talent.
Darwin Box, has built a one-stop HRMS solution that involves managing payroll, head count, recruitment, employee engagement and performance controls. The founding team has bagged seed investments and are continuously evolving their product to suit different industry needs.
Why is it shifting?
HRM as a function has been one of the business module that relies to a great extent on human relations and hence, it has been extremely difficult for problem solvers to address human intelligence and people issues. Now, entrepreneurs are adopting newer technologies like human face recognition, AI, algorithms advancements, etc into human resource solutions.
This season seems very promising for those of you who are looking forward to build a startup that solves HR problems.