HR Tougher Tech Ready To Fill Void

Maisha Leek, Managing Director, Forum Ventures

Coming out of the pandemic and under the constant cloud of an expected recession, HR professionals are experiencing unprecedented pressure as business professionals. Most are in the foxhole right next to the CEO, fighting to recruit and retain the right workforce to win in a tougher business environment. A survey by Gartner suggests that the priorities for 2023 will look similar to what they were in 2021:

● prioritizing employee experience
● organizational design, without inducing burnout or turnover
● updating recruiting strategies; the old approaches don’t work
● remote/hybrid teaming without becoming an overbearing clock watcher

Thankfully, entrepreneurs are charging to the rescue, and many of them want to design with our fearless HR business leaders.

Over the past few years, the HR tech space has grown exponentially, with new startups introducing advanced technologies and tools to help businesses win in tough conditions.

The urgency and effectiveness of HR tech are clear, as seen by some of Forum’s portfolio companies, including Symba, BiteNinja, Sprout, and more. From abolishing unpaid internships to introducing compensation transparency, HR tech startups are revolutionizing how businesses manage their employees. In addition, HR tech can provide companies with a much-needed boost in employee engagement and productivity, allowing them to increase their bottom line.

" As venture capitalists, we’re optimistic about the potential of HR tech startups to build the tools that make the demanding but important business function, HR, a bit easier "

At the same time, HR tech startups are also helping to reduce costs. By automating processes such as payroll and scheduling, they are helping companies to reduce overhead costs and eliminate time-consuming manual processes. This, in turn, leads to increased efficiency, improved productivity, and greater cost savings.

The smart startups, built with Forum Ventures’ support, are obsessed with their customers and their problems. So much so that we invite HR business leaders to be our first customers or design partners when building new companies. We do this to customize the software to meet the industry’s precise needs. As the workforce continues to evolve, businesses must find ways to become more agile and responsive to their employees’ needs. By leveraging HR tech, companies can provide tailored services to their employees, allowing them to create a more positive and productive workplace. At Forum Ventures, HR business leaders are our first call when our studio is exploring what should be built next. Like the best firms in our business, we’re building and investing in companies to address the problems you are really facing.

As venture capitalists, we’re optimistic about the potential of HR tech startups to build the tools that make the demanding but important business function, HR, a bit easier. This space is rapidly evolving, and new startups are introducing innovative technologies and solutions to improve the HR landscape. With the right investments, HR tech startups can help businesses become more efficient, productive, and cost-effective. With HR leaders as their partners, startup founders can build something exceptional that can power our businesses through current uncertainty and disruption.

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