Sectors | HR Tech

HR Tech

HR technology (“HR Tech”) includes software, tech-enabled services and related hardware designed to increase efficiency and effectiveness of the human resources function within organizations. It covers the entire talent journey and spans across employee payroll and compensation, talent acquisition and management, workforce analytics, performance management, and benefits administration.

The adoption of HR Tech has developed rapidly in recent years, with large employers around the world integrating solutions from enterprise software companies, as well as specialized HR tech providers. A notable trend is the transition to a new generation of HR technology, where large organizations are moving from on-premise systems to cloud platforms. Small and mid-sized employers are migrating to digitize their human resource functions, often turning to SaaS platforms or cloud-based HR technology outsourcing vendors.

Factors like the shortage of skilled workers and its constant reinforcement by aspects such as changing demographics, the lowest global unemployment rate for the last 20 years, and an expected global workforce gap of 85 million until 2030 promoting digitalization and innovation, with the aim of improving efficiency in workforce and cost management. Therefore, AI solutions are being discussed and experts expect that many jobs will be redesigned and that new skills will become relevant and highly sought after. Simultaneously, implementing AI-based solutions will create the need for new roles.

Employees are one of a company’s most valuable resources and HR is increasingly becoming a strategic responsibility and a priority for C-Suite leaders.

Our areas of expertise are:

Talent Acquisition

The processes of identifying the staffing requirements of an organization, attracting well-qualified candidates, and choosing the most suitable individuals for available positions. This involves utilizing technologies for candidate sourcing, recruitment marketing, selection, engagement, and onboarding.

Human Capital Management

This function oversees the entire process of personnel management, with technologies around HRIS/payroll, benefits, workforce management and contingent labor helping professionals systematically capture, analyze, conceptualize, and steer the skills, development, and evaluations of employees.

Talent Management
Strategies, methods and measures around compensation, diversity & inclusion, compliance, performance & succession, learning & development, employee engagement and HR analytics to ensure employee satisfaction and retention.

Reach out to our HR Tech experts for more information, to discuss recent transactions and opportunities or ask questions. Browse the different categories above to discover deals we advised on, our latest research publications and other news from the Drake Star HR Tech team.

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Ralf Philipp Hofmann Full
Biography
Ralf Philipp Hofmann

Managing Partner, Member of the Executive Committee

HR Tech

Software/SaaS

Digital Services

Munich

Jim Holzer Full
Biography
Jim Holzer

Managing Partner

Software/SaaS

HR Tech

Digital Services

New York

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