Understand the problem and create a transformative solution

In an exclusive interaction with People Matters, Mukul Jain, founder and CEO of HR tech company HONO, together with latest big investor Aakash Chaudhry, open up on their competitive advantage in the fast-evolving HR tech solutions market 

- Mamta Sharma

The HR tech start-up market is booming, as organisations seek to address the complex issue of not only managing their employees but transforming them, and attracting talent in the post pandemic working arrangements.

People Matters spoke to one such startup, HR tech company HONO, on how they define and develop their competitive advantage. Mukul Jain, founder and CEO, HONO, together with latest big investor Aakash Chaudhry, discussed the opportunities that the new markets hold for the platorm, and how they plan to leverage them to their advantage in the coming years.

The sweet spot

According to Jain and Chaudhry, the SME (small-to-medium enterprise) segment is very ripe for HR tech products and solutions, because there, the decision making is faster and more transparent.

"That's a very, very sweet spot, with up to 30,000, potential clients in that segment alone,” says Chaudhry. SMEs, he explains, can change their processes much faster than larger organisations, and their implementation is quicker and less complex.

The trick to matching that speed of implementation lies in the technology, says Jain.

"The traditional methods of employee engagement are not relevant today. The entire workplace experience has been disrupted and the new workplace decisions cannot be instinct driven anymore. This era demands solutions that help to enable, engage and transform your workplace. It requires AI driven collaborations, engagements and sharp real time insights on employee productivity and satisfaction to maximise talent acquisition, management and retention," he says.