No matter what industry you work in, no matter what the size of your company, few things are more important than finding and retaining the best available talent. After all, finding new employees can prove quite expensive, while hanging on to your best workers will give your company the foundation it needs for lasting success.
As Jack Altman, CEO for HR-software company Lattice, writes, costs such as “hiring, onboarding, training, ramp time to peak productivity, the loss of engagement from others due to high turnover, higher business error rates, and general culture impacts” associated with hiring and retention challenges can significantly impact your business.
With the help of HR tech, however, businesses can offset these expenses with smarter recruitment and talent management. This is why TNW has partnered with Randstad to co-found the HR Tech innovation program.
By joining forces, this partnership between TNW and Randstad will make it easier for startups to integrate modern HR solutions so they can better deal with the human resources challenges that so often derail their work before they can truly get going.
In addition, TNW and Randstad will be launching a new branded channel this month, titled “Work2030,” featuring amazing stories from HR-tech startups around the world.
The core idea behind the program is that Randstad and TNW will connect a list of partnering companies to startups to provide assistance with specific HR tech solutions. By giving startups a list of vetted, reputable HR tech partners to work with, young brands will have the right tools to address human resources challenges so they can lower costs and enjoy steady growth.
A penchant for innovation
Those familiar with the history of both Randstad and TNW should hardly be surprised by this latest innovative venture. Recognizing technology’s ever-increasing importance in all facets of life, TNW has previously partnered with Vodafone with the goal of integrating IoT solutions in several large Dutch organizations.
Randstad is also passionate about helping startups through HR innovation, as demonstrated by the Randstad Innovation Fund. This fund operates with the intention of spurring new tech innovations in a wide range of HR applications, with a special emphasis on big data analytics, screening and selection tools, machine learning and online platforms.
Previous startups that have been funded through the Randstad Innovation Fund include Pymetrics, a tool that uses gamified neuroscience assessments to analyze a candidate’s soft skills to match the right person to the right job. Another startup success includes HackerRank, a coding community over 5 million developers strong that sources, ranks and matches programmers with the right opportunities.
As these previous successes reveal, this joint investment into this new HR Tech Innovation program is geared to bring even more streamlined HR solutions from startups to large organizations — and job-seekers — who need them most.
An opportunity to learn more
Though the full list of partnering companies that will participate in the HR Tech innovation program is still pending, this platform is poised to have a big impact on the way corporates manage their HR needs.
Even if your company doesn’t currently see a great need for HR tech solutions, there is no denying that artificial intelligence is poised to significantly disrupt both the ways that businesses hire top talent and the methods job-seekers use to find their dream position.
Those interested in learning more about HR tech and the future of work should pay close attention to the upcoming TNW Conference. On May 9, Randstad CEO Jacques van den Broek will be interviewed in a fireside chat in which he discusses current trends in HR tech and how they will impact the future of work — including Randstad’s investments and initiatives in HR tech.
Also at TNW Conference, Randstad will exhibit 20 startups — selected by TNW and Randstad Innovation Fund — that provide new solutions to potential corporate challenges. You can find them on the exhibition floor.
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