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White Labeling Immediately Expands Your Offerings
White labeling SaaS solutions entails using another vendor’s software solutions and rebranding them as your own. Companies white label new solutions to offer new functions and services without getting mired in the development process.
White labeling helps businesses keep up with the demands of today’s customers who want solutions to solve more than one problem and expect consistent product evolution. One of the most significant benefits of white labeling is that new functions and features are available almost immediately, allowing purchasers to start growing their revenue, expanding into new markets, and making them instantly more competitive.
Table of Contents
- White Labeling Keeps These Types of Companies Competitive
- The Top HR Solutions to White Label (and Why)
- How to Establish a White Label HR Software Partnership
White Labeling Keeps Companies Competitive
HR software is having a moment. Spending on HR tech will rise from $24 billion in 2021 to more than $35 billion by 2028, a 6% increase YOY. Companies are realizing that to do their best work, they must invest in their most important capital: their people. Companies of all sizes report they plan to spend more on HR tech than they have in the past. The top investment priorities include cloud-based tools with built-in security, AI capabilities, and seamless integration into existing workflows. The top solutions companies are investing in are payroll management, learning systems, employee engagement, and recruiting-the solution where companies are spending most.
Some 40% of buyers are looking for better reporting functionality, an increase of 30% from last year.
White Labeling Additional HR Software Helps HR Technology Companies Offer All-In-One Solutions
Aside from the need to prioritize their people, the top reason businesses purchased HR software in 2022 was to gain greater functionality—users want an HR solution that covers multiple steps of the HR cycle, not just piecemeal solutions.
Forward-thinking HR systems have begun white labeling additional HR software to stay competitive, be stickier, and appeal to the wants of their customers. Similarly, vertical SaaS providers have been using white labeling to add HR software to their solutions, adding additional functionalities and demonstrating that they’re experts in every aspect of their niche industries.
White Labeling Additional HR Software Helps Vertical SaaS Companies Dominate Their Niche
HR is a big industry, and there are more HR tech options than ever, ranging from payroll software to apps that help employees meditate more meaningfully in the workplace. It can be overwhelming to choose which solutions are the best to white label, which is why we’re here to help. Below, you’ll find the top HR solution companies should consider white labeling based on what consumers are looking for, the benefits for end users, and opportunities for revenue growth.
The Top HR Software Solutions to White Label
- Recruiting
- Onboarding
- Payroll
- Benefits
- Mental Health and Wellness
- Employee Engagement
- Learning & Development
- Time and Attendance
- HR Analytics
- DEI Optimization
Recruiting
To reiterate what we disclosed above, recruiting is the top HR tech solution employers seek, so it belongs on top of the list of HR software you should consider white labeling. In terms of recruiting, there’s one piece of recruiting software that 75% of recruiters and hiring professionals and 98.5% of Fortune 500 companies utilize: an applicant tracking system (ATS). Applicant tracking systems are built to streamline, strengthen, and automate hiring and are so prevalent because of their success—78% of companies that utilizing an ATS say it makes recruiting easier, 78% say ATS usage has improved the quality of their hires, 86% report hiring faster, and 94% of users say the software’s positively impacted their hiring.
Why You Should White Label an Applicant Tracking System
ATS use is still growing, so there’s plenty of opportunity for your white labeled ATS to find new customers. The ATS market was valued at $2.14 billion in 2021 and is expected to grow 6.2% by 2030.
HiringThing Pro Tip: The ATS stats above are great content to help you market your white labeled ATS.
Businesses across all industries are currently struggling to hire (small businesses, in particular). Below you’ll find an infographic from the U.S. Chamber of Commerce on what industries are experiencing the most significant labor shortages (obviously, hiring—and ATS usage—is evergreen, but those companies serving the industries represented in the below chart can really help their customers by offering a new, white label recruiting solution).
Onboarding
Onboarding software helps new employees acclimate to their roles and companies, tracks and analyzes employee goals and progression, and maps out onboarding for employees and employers. Onboarding is a vital part of the HR cycle:
- Companies with strong onboarding improve new-hire retention by 82%.
- Automating onboarding increases the likelihood of employees hitting performance goals by 18%.
- Organizations with formal onboarding training are less likely to lose more than 60% of their workforce within four years.
Why You Should White Label Onboarding Software
There’s plenty of opportunity to sell your customers on the importance of onboarding software. Only 50% of small businesses have a structured onboarding process, and Gallup found just 12% of employees feel they had a solid onboarding experience.
Additionally, onboarding can increase employee engagement (which increases productivity and retention)—new employees with good onboarding experience are 18X more committed to their employer (disengaged employees in the US cost their employers $450 to $500 billion each year).
Check out how white labeling employee onboarding software can give your business a competitive advantage.
Payroll
Payroll software keeps track of employee wage and salary rates and automates pay periods, automatically calculating compensations and transferring those funds to employees. Competitive payroll software often includes time tracking, tax management, reporting, and analytics functionality (which, in a meta move, payroll software often white labels).
Being paid accurately and on time influences employee well-being, loyalty, and motivation—49% of employees will begin a new job search after only two paycheck errors (whether accuracy or timeliness).
Why You Should White Label Payroll Software
Like applicant tracking systems, the payroll software market is growing is growing rapidly, expected to grow 9.16% from $23.55 billion to $55.69 billion by 2031.
Payroll software is a potent growth tool for vertical SaaS platforms, as no matter the industry, all employers must pay employees. Embedded payroll solutions can result in a 40% increase in average revenue per user for vertical SaaS vendors.
Benefits Software
The pandemic has highlighted just how significant benefits are to employees' well-being, and employers are responding:
- 57% of senior leaders are prioritizing upping their care benefits.
- 63% of workplace leaders plan to increase their company's existing childcare benefits.
Good benefits—and a good employee experience regarding how those benefits are managed—help with recruiting and retention.
- 56% of adults say health benefits, in particular, are a key factor in deciding whether to stay at their current job.
- 49% of employees will look for new work if they’re dissatisfied with benefits.
- 46% of employees say health insurance was a deciding factor in accepting their current role.
Why You Should White Label Benefits Software
Benefits software facilitates the workflow of any HR department and business, improving the employee experience and making life easier for management.
Mental Health and Wellness
Mental health can take a toll on workplaces. 39% of employees report experiencing poor mental health symptoms related to work, yet most don’t feel comfortable bringing that up in the workplace. That shouldn’t be the case, especially since, from an employer's perspective, mental health and wellness initiatives can increase engagement and productivity and decrease absenteeism. 86% of employees experiencing depression, for example, report improved work performance after being treated, and employers who invest in mental health initiatives see 4x the return on their investment.
Mental health and wellness SaaS tackles everything from mindfulness to meditation to therapy sessions or facilitated conversations.
Why You Should White Label Benefits Software
Companies are spending money on their employees’ mental health and wellness—90% of employers are increasing their investment in mental health programs (76% are growing investment in stress management and resiliency programs, and 71% are increasing investment in mindfulness and meditation programs).
Employee Engagement
New white label solutions work best when they’re helping customers solve big problems, like the engagement problem plaguing the American workforce.
Gallup has studied workplace engagement for years and found that only 36% of workers are engaged (the most successful workplaces have a 73% engagement rate or higher). 63% of employers say retention is harder than recruitment, which is a key sign they’re struggling to keep employees engaged (73% of employees are considering leaving their jobs).
Employee engagement software collects and analyzes employee feedback and engagement levels. It collects formal and informal feedback at regular intervals, standardizes the review process, and helps employers boost morale by implementing reward and recognition strategies.
Why You Should White Label Engagement Software
Employee engagement software helps create a strong company culture, and studies show a strong company culture can help businesses grow by up to 682% in revenue—how’s that for a selling point?
Learning and Development
A lack of professional development is a top reason today’s employees leave their jobs.
Learning and development software helps employees and employers pinpoint skill gaps, upskill employees, and help both management and employees chart and manage professional progression. Competitive learning and development SaaS solutions often come with employee self-study modules or courses.
70% of employees believe better training would make them better at their jobs, though they’re often reluctant to request them. Additionally, companies that spend at least $1,500 per employee on learning and development annually earn 24% more profit than those that don’t.
Why You Should White Label Learning Solutions
There’s a big market for learning solutions. 80% of small businesses and 96% of medium businesses utilize learning and development software.
Timekeeping & Attendance
Timekeeping and attendance software helps track working hours and attendance for salaried and hourly employees. They help ensure accuracy, oversee scheduling, track time off and overtime, and help ensure payroll is correct.
Why You Should White Label Timekeeping & Attendance Software
- 80% of timesheets must be corrected (software helps ensure accuracy).
- One in three timekeeping and attendance methods need to be updated.
- 38% of American employers still use punch cards and paper timesheets.
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HR Analytics
HR analytic software helps companies make data-driven decisions that affect the full breadth of their HR cycle. HR analytics can help organizations see what works and doesn’t, implement meaningful changes, and A/B test new solutions.
Why You Should White Label Engagement Software
There are myriad benefits to HR analytics you can sell customers on, but one of the most crucial is forecasting future skills gaps. As SHRM puts it, “With the ongoing push to use greener technologies and lower emissions as part of broader climate goals, gaps in future needs must be addressed. AI is being used to detect potential shortfalls in the years to come so that these can be addressed by urgent reskilling of the existing workforce.”
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Diversity Equity and Inclusion (DEI) Solutions
DEI SaaS solutions can help organizations make all aspects of their companies more DEI-friendly. DEI SaaS solutions help educate employers and employees on DEI best practices and diversify their workforces.
Tech innovators are noticing. The DEI tech market has tripled to $313 million—an 80% growth rate—since 2019. Forward-thinking HR vendors would be wise to add DEI tech solutions to their offerings.
Why You Should White Label DEI Solutions
The demand is there for both employees and employers. More than two-thirds of American employers have a formal DEI policy or program, so they need technology to support those initiatives. On the employee side, today’s employees seek organizations that prioritize diversity, equity, and inclusion (Millennials and Gen Zers both rate transparent DEI as important when finding new jobs), and organizations are taking notice—Chief Diversity Officer was the fastest-growing C-Suite role last year.
How to Establish a White Label HR Partnership
Here at HiringThing, we're the purveyors of a white label applicant tracking system and onboarding solution. White labeling is the backbone of our business and we're passionate about helping other businesses become more competitive—and successful—by helping them white label recruiting solutions. Because we’re so passionate about our private labeling modality, we’ve created a guide, The Ultimaate Guide to Establishing a Private Label Partnership, with everything you need to know about embarking on the white label journey. Check it out.
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 technology and service providers to offer hiring and onboarding to their clients. Approachable and adaptable, the platform empowers anyone, anywhere to build their dream team.
