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The World of HR Tech is More Competitive Than Ever
The HR tech industry is growing at an unprecedented pace, with an expanding array of options available to organizations looking to optimize their human resources processes. The market is projected to reach a staggering $35 billion by 2028, highlighting the increasing importance and value placed on HR technology solutions. This rapid growth is fueled by a variety of factors, including the rise of artificial intelligence (AI) and the demand for seamless integration into existing HR workflows. Companies are eager to invest in technology that enhances payroll, learning and development, and employee engagement. However, the area receiving the most attention and investment is recruiting solutions.
Recruiting solutions have traditionally been synonymous with applicant tracking systems (ATS), which are designed to streamline and optimize the hiring process. ATS software has been statistically proven to improve the quality of hires and accelerate the recruitment process. However, one critical functionality that often goes overlooked is employee onboarding software. Despite its potential to significantly impact both recruiting and retention, many organizations fail to prioritize it. In this article, we’ll explore the transformative power of employee onboarding solutions and how white-labeling these solutions can give your HR tech organization a competitive edge.
How White Labeling Employee Onboarding Can Make Your HR Tech Organization More Competitive
Why Employee Onboarding is Often Overlooked
Employee onboarding is a critical yet frequently neglected aspect of the HR process. Despite its importance, many organizations fail to execute a solid onboarding experience. A staggering 88% of companies admit that their onboarding processes are subpar, even though research shows that effective onboarding can boost employee retention by up to 82%. This disconnect between the recognized value of onboarding and its actual implementation presents a significant opportunity for HR tech organizations.
The truth is that well-designed HR technology can revolutionize not only onboarding but HR practices as a whole. Investing in employee onboarding software can help shift the perception of onboarding from an afterthought to a vital, strategic component of the HR lifecycle. For HR tech platforms, white-labeling employee onboarding solutions offers a way to provide customers with a powerful tool that addresses a commonly overlooked need. By offering a robust onboarding solution, HR tech companies can differentiate themselves in a crowded market and provide their clients with a resource that has the potential to transform their hiring and business practices.
The Untapped Potential of the Employee Onboarding Solutions Market
The market for employee onboarding solutions is ripe with opportunity. Despite the clear benefits of effective onboarding, many organizations have yet to invest in the necessary technology. A significant 27% of HR professionals believe that technology is the missing link in their onboarding programs, and 42% of organizations do not have dedicated onboarding technology in place. Furthermore, 90% of companies either use or are interested in using their ATS for onboarding capabilities, and 70% believe that onboarding should be integrated with recruiting.
The demand for onboarding technology is only expected to grow. Half of all companies are looking to increase their investment in onboarding tech, and 68% of HR professionals plan to implement onboarding technology in the near future. This trend is likely to accelerate, with Deloitte reporting that 90% of HR leaders plan to increase their technology spending in 2024. For HR tech organizations, adding an employee onboarding solution to their offerings can open up new revenue streams, help them break into new markets, and position them as pioneers in the industry. White-labeling an onboarding solution allows companies to capitalize on this opportunity quickly, offering a competitive advantage in a market that is still relatively untapped.
The Strategic Advantage of White Labeling
White labeling offers a strategic advantage for HR tech organizations looking to expand their product offerings without the time and expense of developing a new solution from scratch. By white-labeling an employee onboarding solution, HR tech companies can immediately offer their clients a valuable tool that addresses a critical need. This approach not only saves time and resources but also allows companies to enter the market at a time when demand for onboarding technology is on the rise.
At HiringThing, we provide full white-label recruiting solutions, including a white-label ATS and employee onboarding solutions. By partnering with us, HR tech organizations can quickly add these powerful tools to their product lineup, providing their clients with a comprehensive HR solution that enhances recruiting, onboarding, and overall employee engagement. If you’re interested in exploring how white-labeling can give your organization a competitive edge, we encourage you to connect with one of our Partner Development Representatives today.
Seizing the Opportunity in HR Tech
The HR tech industry is more competitive than ever, and the demand for innovative solutions is only expected to grow. As organizations continue to invest in technology that enhances their HR processes, the importance of offering comprehensive solutions that address every stage of the employee lifecycle cannot be overstated. Employee onboarding, while often overlooked, is a critical component of this lifecycle and presents a significant opportunity for HR tech organizations.
By white-labeling employee onboarding solutions, HR tech companies can quickly and efficiently add a valuable tool to their product offerings, providing their clients with the resources they need to improve retention, engagement, and overall HR effectiveness. As the market for HR tech continues to expand, those companies that can offer a full suite of solutions will be best positioned to succeed. Now is the time to seize this opportunity and establish your organization as a leader in the HR tech space.
About HiringThing
HiringThing is a modern recruiting and employee onboarding platform as a service that creates seamless talent experiences. Our white label solutions and open API enable HR technology and service providers to offer hiring and onboarding to their clients. Approachable and adaptable, the HiringThing HR platform empowers anyone, anywhere to build their dream team.
