HR ANALYTICS, WORKFORCE MANAGEMENT
PRnewswire | June 02, 2023
Eightfold AI, the leader in AI-powered talent intelligence, today announced their live implementation with Faurecia, a FORVIA Group company. Faurecia leverages Eightfold AI's Talent Acquisition and Talent Management offerings to further modernize its hiring programs leveraging the most advanced technology and employee experience.
Additionally, Faurecia is leveraging Eightfold AI's Talent Intelligence Platform to source more candidates from their existing Applicant Tracking System (ATS). Through Eightfold AI's skills database, Faurecia projects measurable improvements to the effectiveness and efficiency of its entire talent operation. Moreover, Eightfold's bias-reduction capabilities are key to Faurecia's ongoing commitment to make diversity, equity, and inclusion (DE&I) a core component of its workforce.
"We're a great company, and that means recruiting great talent, and enabling them to continue growing once they've joined our organization is our priority." said Jean-Pierre Sounillac, Faurecia Executive Vice President Group Human Resources.
"Faurecia is up-leveling their talent operation by creating a consistent global experience and connecting its talent acquisition with the upskilling of their employees," said Ashutosh Garg, CEO and Co-founder at Eightfold AI. "Their strategy to become a skills-based organization will serve as the model for future-ready organizations going forward."
Eightfold AI offers a single Talent Intelligence Platform that provides a consistent experience for recruiters, hiring managers, and employees. As a result, companies can consolidate the capabilities of their existing HR technology investments into one cohesive offering that can be leveraged globally, furthering a company's digital transformation.
By analyzing anonymized data points, the Eightfold Talent Intelligence Platform improves hiring, engagement, retention, and DE&I processes. Enterprise customers have achieved results for talent acquisition including 35 percent faster time-to-fill across all positions, 50 percent greater recruiter efficiency, 60 percent higher qualified candidate volume, 88 percent increase in employee referrals, and 19 percent increase in hiring of female candidates, among other verified outcomes.
About Eightfold AI
Eightfold AI's market-leading Talent Intelligence Platform™ helps organizations retain top performers, upskill and reskill their workforce, recruit talent efficiently, and reach diversity goals. Eightfold's patented deep learning artificial intelligence platform is available in more than 155 countries and 24 languages, enabling cutting-edge enterprises to transform their talent into a competitive advantage. For more information, visit www.eightfold.ai.
About Faurecia
Faurecia, company of the Group FORVIA, is a global automotive technology leader. With 257 industrial sites, 39 R&D centers and 111,000 employees in 33 countries, Faurecia operates through four areas of business: Seating, Interiors, Clarion Electronics and Clean Mobility. In 2021, the Group reported total turnover of €15.6 billion. Faurecia is listed on the Euronext Paris market and is a component of the CAC Next 20 index. www.faurecia.com
About FORVIA
FORVIA, the world's seventh largest automotive technology player, comprises the complementary technology and industrial strengths of Faurecia and HELLA. With over 300 industrial sites and 66 R&D centers, 150,000 people, including more than 35,000 engineers across 40+ countries, FORVIA provides a unique and comprehensive approach to the automotive challenges of today and tomorrow. Composed of 6 business groups with 24 product lines, FORVIA is focused on becoming the preferred innovation and integration partner for OEMs worldwide. The Group provides solutions for a safe, sustainable, advanced and customized mobility, FORVIA aims to be a change maker committed to foreseeing and making the mobility transformation happen.
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TALENT MANAGEMENT, EMPLOYEE EXPERIENCE
PRnewswire | May 11, 2023
Eightfold AI, the leader in AI-powered talent intelligence, today announced Skills-Based Talent Planning. Eightfold Talent Planning is a solution for organizations to analyze, forecast, and future-proof their workforce by assessing skills and resourcing gaps in real-time. This is an effective way to reduce the risk of costly and disruptive reorganizations and withstand unpredictable industry shifts.
Today, enterprises rely on ineffective spreadsheets to plan their workforce, without a true understanding of talent and skill trends, such as a sharp rise in digital skills within financial institutions. This method is outdated and leaves many without a path forward in times of rapid change. Eightfold Talent Planning allows business leaders to understand how these trends impact the needs of their organization. Eightfold feeds this insight into its industry-leading Talent Acquisition, Talent Management and Talent Flex solutions, allowing organizations to execute skills-based talent strategies at scale. Proactively hiring key roles and transforming existing jobs ahead of major workforce trends creates significant value, agility and flexibility for Eightfold customers, allowing customers to thrive during times of great upheaval.
"The speed at which business is evolving is too great for anyone to manage alone: our platform translates massive amounts of talent data into a blueprint for what skills a business has today and will need tomorrow," said Ashutosh Garg, CEO of Eightfold AI. "The result is an intelligent, easy-to-use offering that will allow business leaders to grow flexibly instead of being forced to execute on expensive, reactionary workforce changes."
Eightfold Talent Planning makes having a future-ready workforce a continual part of the talent process instead of a one-time exercise. This creates a strategic advantage, better aligning workforce planning with business objectives and allowing HR leaders to:
Leverage a global talent data set, including from the existing workforce, providing insights on people and industry talent trends
Understand market disruption's impact on every role: learn which skills will become more important, and which will reduce in prominence
Identify the talent to attract, engage, upskill and re-deploy into future roles
Forecast and scenario-plan the time required for skills and proficiency to develop in existing and emerging areas, and how roles and organizations should evolve over time
Capture progress and fully execute on a coordinated talent plan by integrating with Eightfold Talent Acquisition, Career Hub, and the entire Talent Intelligence Platform
"Utilizing robust talent data to inform and enhance actionable workforce planning - for both today's and tomorrow's needs, represents a massive step forward in the practical use of AI," said Kevin Moss, Managing Director, Workforce Planning Practice Leader, Deloitte Consulting, LLP. "We are proud to collaborate with Eightfold AI as they continue to bring people-first usage of advanced technology into the mainstream."
About Eightfold AI
Eightfold AI's market-leading Talent Intelligence Platform™ helps organizations retain top performers, upskill and reskill their workforce, recruit talent efficiently, and reach diversity goals. Eightfold's patented deep learning artificial intelligence platform is available in more than 155 countries and 24 languages, enabling cutting-edge enterprises to transform their talent into a competitive advantage. For more information, visit www.eightfold.ai.
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COMPENSATION MANAGEMENT, PAYROLL
PRnewswire | June 01, 2023
Nium, the leader in real-time global payments, has enhanced its market-leading payroll payments solution to support the complex needs of payroll platforms worldwide. Nium's payroll solution simplifies global growth for a majority of payroll platforms, including Panther, a provider of global employment, payroll, benefits, and contractor software that can be integrated with an HR tech stack.
In addition to expanded network and currency coverage in Canada, Africa, Middle East, Latin America, and Asia Pacific, new enhancements to this offering include:
Foreign Exchange (FX) Transparency: Allows for end-to-end FX control, which includes transparent costs with a single clear FX markup and one low per-transaction fee to help manage costs at scale. With this, clients can schedule bulk conversion for ease and control, lock FX rates to manage FX fluctuation, and configure fees at the customer level for flexibility;
Beneficiary Pre-screen and Confirmation of Payee: Minimizes potential returns with verified payee information and keeps the payment process quick and smooth;
Scheduled Payouts: Enables clients to disburse payments to their workforce on a certain date. Provides predictability to their clients' employees on when to expect to receive their salary payouts;
Direct Debit in the US, UK, and EU: Provides the ability for platform clients to pull funds from their customers' primary bank accounts into their Nium wallet to fund payroll payouts, this improves cash flows and reduces friction.
The global payroll outsourcing market was pegged at $9.9 billion in 2021, according to U.S.-based Allied Market Research. Growing at a CAGR of 7.2% from 2022 to 2031, the market is expected to reach $19.5 billion – making it one of the largest and fastest growing opportunities in global payments. The need to hire at scale across borders is rapidly becoming a key competition for companies. But, adding remote workers adds significant cost and complexity to payroll operations, simplified by the growing number of third-party payroll platforms. Specifically, 80% of companies believe that transparent foreign exchange rates are important for payroll providers. By making Nium's fees transparent, its clients can have more control over their finances.
"Global payroll is complex," says Robin Gandhi, CPO of Nium. "Every country has different regulations, including tax laws, employment laws and data privacy laws which make the compliance process tricky, and that's what payroll platforms do best. However, getting money to every employee or contractor on payday in their preferred account, on-time, and across multiple geographies is not easy. With our global payments network and payroll specific functionality, we make payroll seamless, so platforms don't have to worry about the technical and legal lift to send money across the world knowing that their employees will have access to funds when they need them."
"We trust Nium to move funds reliably, quickly, and compliantly around the world and across different corridors," said Matt Redler, CEO and Co-founder of Panther. "We consider their payroll solution a trusted component of our engine. Specifically, their transparent FX capabilities allow us to price our FX revenue stream in a competitive way. We're excited about Nium's payroll enhancements and our continued partnership."
Nium's payroll solution goes beyond the ordinary, offering a comprehensive suite of products to empower global payroll platforms and businesses to seamlessly onboard, transact and manage payroll for employees and contractors worldwide, including competitive FX, built-in compliance, real-time payments, security offerings, zero-deduction wire transfers, and multiple market coverage. However, the company understands that payroll is not merely a transactional process; it is mission critical money movement that holds the power to impact lives and it's important to have a partner businesses can trust. By leveraging Nium's global payment platform, platforms and businesses can put their trust in Nium while they focus on growing globally with improved operational efficiency and exceptional customer experience.
About Nium
Nium, the leader in real-time global payments, was founded on the mission to deliver the global payments infrastructure of tomorrow, today. With the onset of the on-demand economy, its payments infrastructure is shaping how banks, fintechs, and businesses everywhere collect, convert, and disburse funds instantly across borders. Its payout network supports 100 currencies and spans 190+ countries, 100 of which in real-time. Funds can be disbursed to accounts, wallets, and cards and collected locally in 35 markets. Nium's growing card issuance business is already available in 34 countries. Nium holds regulatory licenses and authorizations in more than 40 countries, enabling seamless onboarding, rapid integration, and compliance – independent of geography. The company is co-headquartered in San Francisco and Singapore, with regional offices in London, Amsterdam, Hong Kong, Mumbai, Bengaluru, and Chennai.
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