Digital Transformation Exchange: HR Tech
Transforming Human Capital at the inaugural Digital Transformation Exchange
When ex-consultants Leong Chee Tung and Dorothy Yiu founded EngageRocket, it was with a vision to help companies better manage their teams and improve productivity. EngageRocket is a cloud-based analytics software that collects and analyses employee feedback in real-time to advise leaders on how to build a better culture. Citing the importance of employee feedback, Chee Tung shared, “Singapore was recently ranked lowest in Asia for employee engagement, globally engagement scores have been stagnant while Google trends show an almost 4-fold increase in searches for employee engagement over the past 4 years. The impact of this has been an estimated $6B drag on the economy from lost productivity,”
“In the past, leaders had to manage their teams using their experience and intuition only, what we’re hoping to do is to provide quantitative insight to support their people decisions. This has been shown to make a tangible difference to staff productivity, talent retention, and even sales and customer loyalty,” highlighted CEO and co-founder Chee Tung.
Despite being founded only last year, the HR tech startup has already made waves within the startup scene. The startup is the first of its kind in Southeast Asia to raise $450,000 in funding which counts co-founder of JobsCentral Group, Huang Shao Ning as one of the investors.
EngageRocket may be in their early days, but have already made positive impact for their clients. “We helped a 54-year old SME in the retail sector improve the levels of engagement by more than 35% in their retail teams, resulting in lower staff churn, and therefore hiring costs, as well as improved sales productivity per staff. This was done through pulse surveys in their retail organisation to guide the head of retail in managing the team better, improving communications and transparency,” shared Chee Tung.
EngageRocket recently participated in the inaugural session of Digital Transformation Exchange (DTE), organised by the Action Community for Entrepreneurship (ACE) where he presented on the topic of human resource (HR) technologies and human capital solutions, alongside a curated number of technology innovators in the field. The session is part of a series of knowledge-sharing events with various themes such as Cyber Security, Data Analytics, Education Technology, etc. The initiative is built to help corporations and SMEs connect with and understand current digital platforms from startups who are at the forefront of innovation and technology. The participating startups also got to learn from their more experienced counterparts in areas such as managing and growing their businesses.
When asked how DTE participants can benefit from the initiative, Chee Tung said, “Startups definitely benefit from the profiling and exposure. For companies, DTE provides a curated platform for exposure to the latest developments in technology and productivity enhancements. This gives companies the confidence in the solutions presented, while being able to sample how the cutting-edge technology can help their business grow.”
With innovation cited as a key driver for our economy in the Committee on the Future Economy (CFE) report, it is important for companies to leverage on digital technologies and knowledge to continue to innovate for greater success. The SME Go Digital Programme is one such instance of the Government’s increased efforts to help SMEs build stronger digital capabilities. With the DTE initiative, companies can now stay abreast of startups’ latest innovations, and possibly adopt them to increase growth and productivity.