Salesforce has chipped in $15 mn into HR tech platform Darwinbox. The round saw participation from Sequoia Capital, Lightspeed India, Endiya Partners and 3one4 Capital. The company, including the latest round, has raised $35 mn. Darwinbox, the third-largest HR cloud provider after SAP and Oracle in India, wants to become the leader in the next two years. The platform services 500 firms globally, touching 1 mn employees in 60 countries.
ZingHR, a Microsoft backed Cloud HR Tech venture, has announced that it would collaborate with Times Network to provide HR Tech solutions. The strategic collaboration would merge Times Network’s existing HR practices with digital solutions and bring forth an organisational change to improve the work experience for its 1200 employees. ZingHR claims to have more than 365 employees and over 565 customers.
Oracle announced key updates to its Oracle Fusion Cloud ERP and Oracle Fusion Cloud Enterprise Performance Management to help businesses to rapidly adapt to the current economic climate, drive new business models and improve strategic decision making. It also announced major updates to Oracle Cloud Human Capital Management to deliver personalised journeys and growth opportunities for employees, while improving data accuracy for HR teams.
RBL Bank has tied up with Accenture to transform its IT systems and boost its digital transformation journey. Accenture will help RBL Bank modernise its large apps environment; streamlining and automating bank’s key business processes like finance, HR, and sales. Also, it will create a flexible and more responsive tech backbone for RBL bank to enable the continuous roll-out of improved digital capabilities while enabling effective IT cost management.
Collaborative platforms like Microsoft Teams, Slack, Zoom help the HR to bridge communication gap; especially, during remote working. Data analytics and people analytics tools help in making data-driven decisions in hiring, promotion etc. Digital upskilling programs coupled with interactive AI, AR, VR ensure better engagement and learning. AI, ML-based dynamic goal setting, regular performance checks, etc help in employee engagement and retention.
The coronavirus outbreak has fast-tracked digitalisation in HR management like never before. Experts claimed a 30% rise in demand for HR-related tech during the last 40 days alone. Demand for productivity-related platforms is an all-time high. Digital tools to check employee’s sanitation and health protocols, live sessions or pre-recorded training sessions and AI-enabled chatbots for pandemic-related queries to reminding employees of deadlines are in demand.