Employment Hero, a company specializing in HR, payroll, and employee engagement, is launching Swag, an employment superapp designed to modernize the employer-employee relationship.
Building on its existing platform that streamlines HR and payroll processes for SMEs, Employment Hero is shifting its focus to enhance the job hunting experience for both employers and job seekers. Swag utilizes AI-powered recruitment tools to simplify and expedite the process of finding, onboarding, and rewarding talent. This initiative is supported by Employment Hero’s extensive network of over 200,000 employers and more than 1 million employees.
According to Employment Hero, the current employment landscape presents two significant challenges. Firstly, the looming possibility of a global recession and slower economic growth in Malaysia and Singapore has increased operational costs for SMEs, hindering their growth and expansion. This is compounded by a shortage of skilled workers, making it difficult for businesses to maintain productivity and plan for the future. Furthermore, retaining experienced employees is an ongoing struggle in the current volatile job market.
Simultaneously, Malaysian and Singaporean employees are grappling with a sharp rise in the cost of living. Employment Hero’s recent 2023 Talent Insights Report revealed that 92% of Malaysian employees are engaging in “career cushioning”*, and almost half (45%) report that their wages are not keeping pace with inflation. The survey also indicated that only 51% of Singaporean respondents feel secure in their current positions, the lowest percentage among all surveyed countries, and 49% are actively seeking new job opportunities.
Swag directly addresses these challenges by providing employers with tools to streamline key aspects of recruitment, such as:
● Generating initial job descriptions using AI ● Forecasting future hiring needs with AI ● Identifying and matching suitable candidates for relevant roles ● Posting job ads to numerous popular job boards with a few clicks
Swag also includes a job board called Swag Jobs, which provides SMEs with free access to a vast pool of job-ready candidates. This eliminates job posting and advertising costs, a significant advantage in a time where these fees have escalated considerably.
Upon employment, Swag transforms into a central hub for all work-related activities, including time and attendance tracking, leave management, and rostering. Its Work features streamline onboarding and mitigate common HR inefficiencies by consolidating timesheets, payslips, leave requests, induction materials, and certifications in one location. Swag also encourages reward and recognition programs, featuring peer-to-peer acknowledgments and the tracking of accredited personal achievements within the company.
Swag also simplifies the job search process for employees by providing features like:
● AI-powered generation of initial cover letters ● AI-driven job recommendations based on a candidate’s profile and skills ● One-click application functionality for expedited applications ● Automatic parsing of CVs and resumes to eliminate manual data entry
Ben Thompson, Co-founder and CEO of Employment Hero, highlighted the platform’s future potential: “We are rapidly developing new features that will match candidates with jobs even before they are advertised – surpassing the speed of traditional job boards. Our goal over the next 12 months is to further automate manual tasks using AI, making the process even more efficient and allowing individuals to concentrate on their core strengths.”
He emphasized the role of AI in recruitment: “AI and platforms like Swag have the potential to revolutionize the entire recruitment process by making it more streamlined and personalized. Swag was created to give employers a competitive edge in the hiring market and to relieve job seekers of the burden of manually searching for jobs and writing lengthy cover letters.”
“Importantly,” he added, “while AI assists in the hiring process for both employers and employees, it is not intended to replace the human touch. Instead of automating every interaction, Swag streamlines the tedious and repetitive aspects of hiring, such as drafting job descriptions, identifying promising candidates, and filtering out unsuitable applicants. This allows for a greater focus on personal interactions, from discovering your next great hire and conducting one-on-one interviews with potential candidates, to nurturing relationships with talent for future recruitment needs. With more time on their hands, SMEs can focus on expanding their businesses and finding the right people to help them achieve their goals.”
Swag’s Career feature grants job seekers access to a free job board called Swag Jobs. Here, they can create a digital employment profile and explore thousands of job postings across various industries. Once a candidate submits an application, they can utilize a real-time messaging feature to communicate directly with hiring managers, ensuring transparency and keeping them informed at every step, regardless of the outcome.
“The Swag superapp facilitates a more interactive and genuine connection between candidates and employers," Thompson explained. “Direct messaging between the hiring manager and the candidate is enabled throughout the interview and recruitment process. Subsequently, Swag seamlessly transitions into the onboarding tool, integrating the new employee into the business. It becomes the platform for work management, payment processing, and even savings and spending.”
“By combining all these features,” he concluded, “Swag offers a unique value proposition for candidates. They can search and apply for jobs, navigate the recruitment and onboarding processes, manage their work, and access benefits and perks that maximize their earnings.”
* Career cushioning refers to creating a safety net in case of potential job loss. This could include searching for other jobs, acquiring new skills, or taking on freelance work.