A Week in HR Tech – TecHR Round-up for 2nd December 2019
Human Capital Management Firm Ultimate Software Announced Leadership Transition
A major global provider of Human Capital Management (HCM) and employee experience solutions in the cloud, Ultimate Software announced that co-CEO Scott Scherr will be retiring on December 31, 2019, as planned, after almost 30 years serving as the company’s founder, president, and CEO. As per the company’s long-standing succession plan, Ultimate’s Board of Directors appointed Adam Rogers—previously serving as co-CEO for Ultimate alongside Scherr—as Chief Executive Officer effective January 1, 2020.
Tray.io Raised $50 M Series C Funding to Transform the Future of Work
Tray.io has closed an October $50M Series C funding round just five months after its previous raise at the end of April 2019. The round is led by Meritech Capital alongside existing investors Spark Capital, GGV Capital, and True Ventures, who participated over their pro-rata amounts. Tray.io’s General Automation Platform enables citizen automators in any business role to build enterprise-class integrations and automation themselves in a low-code environment.
G2 Recognized JazzHR As a “Leader” in the Recruiting Software Category
Peer-to-peer software review site, G2, recognized JazzHR as a “Leader” in the recruiting software category for their Fall 2019 Grid Report. G2 made this selection based on user reviews, market share, vendor size, and social impact. JazzHR earned the title owing to its world-class customer service, user-friendly interface, and market-leading innovations including Candidate Texting and Self Scheduling of Interviews.
Silver Lake Acquired Pre-employment Background Check and Drug Screening Services Provider First Advantage
First Advantage, a global technology and information services leader in background check and drug screening solutions, and Silver Lake, a global leader in technology investing, announced that Silver Lake has signed a definitive agreement to acquire First Advantage from Symphony Technology Group (STG). First Advantage’s senior management team will remain in their current roles and continue to be meaningful equity holders in the company. The collaboration will provide timely and trusted intelligence to support hiring, risk management, and brand protection.
Empyrean Benefit Solutions Strengthens Securian Financial’s Employee Benefits Market Portfolio
Securian Financial Group, Inc., announced that it has signed a definitive agreement to acquire Empyrean Benefit Solutions, Inc., a company with a leading platform for employee benefits enrollment and human resources administration. Empyrean, which will remain an independently operated organization, delivers a single platform for all benefits administration, enrollment, education and communication. Its technology integrates insurance carriers with payroll systems and other third-party administrators, helping employees understand their benefits, appreciate their value and make smarter coverage and utilization decisions. The move will create exceptional experiences for employers and their employees and the transaction is expected to close this December.
What are the new emerging markets that you see providing the biggest opportunities in HR Technology?
“The new emerging markets that I see providing the biggest opportunities in HR technology are those markets in which gig and remote workforces are part of the strategic mix. That is where technology can be used to maximize investments and profits by making it possible for those companies to meet the needs of part-time, intermittent or contingent workforces.”
Excerpts from TecHR Interview with Brad Killinger, CEO at Sapience Analytics
Can 4-day Workweeks Really Improve Employee Productivity?
The five-day, 40-hour workweek has been the conventional practice in business essentially since its inception by Henry Ford in 1926. But a recent Microsoft pilot program challenging that convention has signaled that when done right, the four-day workweek can yield great benefits for the company, community and individual alike, says J. Gerald Suarez, professor of the practice in systems thinking and design at the University of Maryland’s Robert H. Smith School of Business.
2020 Will Deliver Smart and Personalized Work Experiences
Regardless of age, industry or geographic location, as the workforce continues to evolve, so do the needs of workers, businesses and HR leaders. To better understand those needs, ADP, a leading global technology company providing ADP human capital management (HCM) solutions, uncovered the five HCM realities that will shape the workplace in 2020 and beyond. Among these realities, personalization and the ability to provide relevant and actionable solutions will be increasingly sought by companies as they strive to engage their workforce and strategically propel their business forward.
HR Leaders Still Unsure How to Create an Organizational Culture Barring Workplace Harassment
A new study from Vault Platform, the next-generation solution for workplace misconduct reporting and resolution, spotlights a disconnect between the demands of the workforce and promises of leadership at the management layer tasked with delivering change.
5 Workplace Cultures and Trends to be Thankful for
Good workplace culture is much more than just catered meals, foosball tables, and coffee machines. It’s one that constantly works towards making employees happy and fostering a sense of ownership in them. This ultimately leads to higher levels of productivity and better business outcomes.
Can HR Tech Save Employees from Burnout and Social Isolation?
Employee burnout is not a new phenomenon. And, the start-up culture is not doing anything helpful to bring the burnout numbers down. All employees feel stressed at some point in their career but start-up pressures are taking its toll on the employees, especially on the best ones. When it becomes a recurring event, things can spiral out of control unexpectedly, jeopardizing both employee’s health and company reputation.
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