The Future of "The Future of Work"
HR startups abound
With an estimated market size of 24 billion USD according to Forbes, the human resources technology market is bursting with opportunity. AI-based algorithms, together with increases in cloud computing have enabled major innovations for crucial HR functions, such as staffing, recruitment, applicant tracking, freelance hiring, workforce planning, and employee management more generally.
Using Revelio Labs' own HR database systems, we have looked at 50 of some of the biggest and fastest growing companies in this space. Below are the 5 fastest growing companies:
If HR-Tech is the future of HR, which companies have employees with the skills to build these solutions? Below are the companies with the highest and lowest shares of employees with advanced coding, engineering or data science skills. We can show with our skills taxonomy that Rippling, Visier, and yours truly, are leading the race.
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Fast headcount growth and technically skilled employees will both be key ingredients to success in this market. Here is how these companies are doing with respect to both:
- Many HR-Tech companies have entered the HR market and are growing fast, with Rippling, Eightfold and WorkLlama among the fastest growing companies.
- Given that much of this growth is driven by AI-powered innovations, companies with more tech-skilled employees are likely to succeed.
- Fast growth and a technically skilled workforce are key to succeed in the HR-tech market.
For more on Revelio Labs' HR database systems, including specific tools like our skills taxonomy, and how they can help with HR functions like workforce planning, please feel free to reach out.