A Look at REFFIND (ASX:RFN) Amid Evolving Landscape for HR Tech Space in 2020

Summary

  • Amid global shift towards automation across business functions, human capital strategies are also changing in the highly competitive environment.
  • Creating an engaging atmosphere based on individual preferences is a task as complex as any other human resource function like hiring.
  • REFFIND Limited (ASX:RFN) is a Software as a Service (SaaS) solutions provider with a unique offering, WooBoard, designed to meet the employee recognition needs of the modern-day workforce.
  • Shift towards automation in human resource processes has been quite evident in recent times due to COVID-19.

With the integration of technology into the organisational function of human resource management, we are experiencing a dramatic change in the human resource landscape, and it is not only a moving target but a fast one.

With a worldwide shift towards technological innovations across business functions, human capital strategies and plans are bound to take a similar route in today’s highly competitive world.

The automation of various business processes, especially in the human resource field has led to the rise of digital technologies. Consequently, various emerging HR tech players have helped in streamlining and accelerating this process, in order to capitalise on the opportunities.

Interesting Read: Creating Winning Environment for Employees in Era of Digital Workplace Through ASX-Listed REFFIND’s (RFN) WooBoard

Increasing Role of Technology in HR Functions

It was long ago when employees were simply seen as an element of business that led to its success. However, in today’s scenario, employees are considered as a key differentiator of the business. Therefore, it is natural that the way employees are managed today is a lot different than the ways of managing the employees earlier.

Employees of a business are the drivers of customer experience, which is an equally important aspect of the business as its offerings to the customers in today’s competitive environment.

From hiring to training, retaining, appraising, promoting employees and maintaining a positive environment in an organisation, technology has helped simplify and streamline these processes.

Related: REFFIND Leveraging WooBoard Platform to Seize Opportunities Amid COVID-19

As hiring is an expensive and time-consuming process, so is creating an engaging atmosphere which is based on individual preferences.

Breakthrough Offering in Employee Recognition Space

One of the emerging players in the HR tech space with a ground-breaking offering is, SaaS solutions provider, REFFIND Limited (ASX:RFN). The Company is focused on revolutionising the employee engagement and recognition space through its flagship platform WooBoard.

The innovative and ground-breaking features offered by WooBoard position the Company well in the present highly competitive market for talent acquisition.

In recent times, COVID-19 has been a major driving force for adopting automation in the HR processes, leading to increased demand for RFN’s WooBoard. Moreover, the growing expectations of employees are intensifying the pressure on organisations while creating fresh opportunities.

Interesting Read: 3 Reasons Why Recognition is Important at Workplace; A Look at REFFIND’s Recognition Tool WooBoard

Th organisations that create and maintain an engaging environment for employees, do not just appear luring, they also earn a great reputation and win allies in the market.

Why is WooBoard making news?

Being packed with industry-leading features, WooBoard is a technology-driven solution for employee recognition. It inculcates positive work culture and outnumbers the various challenges that are commonly encountered with employee recognition.

Businesses are in a race to retain top talent, boost productivity, reduce absenteeism, and motivate employees to work efficiently, enabling a win-win situation for employees as well as the organisation.

As a fun and friendly way, WooBoard encourages daily interaction through peer-to-peer recognition, gamification, social features and integrated rewards. Often, the recognition tools that consider individual preferences, are seen as effective for recognition.

Did you read: Overcoming Challenges in Employee Recognition with Modern Way, REFFIND’s WooBoard Platform

The wide range of features as well as inculcation of a company's overall vision, helps  create an engaging atmosphere for the employees. Moreover, with an evolving workforce spanning various age groups, now is the time when organisations need to focus more on integration.

Emerging players like RFN are gaining increased traction from a growing number of organisations that are aligning with the idea of establishing a winning environment at the workplace.

Related: REFFIND’s WooBoard to Gain from Deployment as Essential Service in Fast-Growing Industries

On 15 October 2020 (AEDT 03:11 PM), RFN share price quoted at $0.003 with a market capitalisation of $2.48 million.  

Bottomline

Overall, the HR landscape is shifting towards an increasingly personalised yet distinct approach. The revolutionary shift towards automation in the process of engaging and rewarding employees lowers the need for human interference. The technology driven solutions like WooBoard are shaping meaningful recognition and helping the businesses stay ahead of the curve.

Did you Read: Looking to Stay Ahead of Increasingly Competitive Market for Talent? Check REFFINND's WooBoard

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