HR ANALYTICS, HR STRATEGY
Accesswire | April 25, 2023
FullStack, a leading professional employer organization (PEO) based in Indianapolis, has announced the acquisition of Simple IT, a human-centered technology management company also based in Indianapolis. The acquisition will allow FullStack to provide even more comprehensive HR and technology management solutions to fast-growing businesses in the Midwest.
FullStack and Simple IT share a deep commitment to crafting human experiences for employees, owners, and organizations. By bringing together the expertise of both companies, FullStack will be able to offer clients a full suite of services that cater to their unique needs, including employee benefits, payroll management, HR administration, risk management, and IT services.
"We are excited to welcome Simple IT to the FullStack family," said Dawn Lively-Jenkins, CEO of FullStack. "Our shared values and core focus on crafting human experiences make this acquisition a natural fit. By combining our strengths in HR and technology management, we can provide even more innovative solutions to help our clients grow and thrive."
As a result of the acquisition, Simple IT will become a subsidiary of FullStack, and the companies will continue to operate independently under their respective names. Thomas Burris, CEO of Simple IT, will remain in his current role and will work closely with the FullStack team to integrate the two companies.
"We are thrilled to be joining forces with FullStack," said Thomas Burris, CEO of Simple IT. "Our expertise in technology management complements FullStack's strengths in HR, and together, we will be able to provide clients with the most comprehensive solutions available in the market."
About FullStack
FullStack is a professional employer organization (PEO) that helps growing companies in the Midwest accelerate their business. The company's core focus is on crafting human experiences for employees, owners, and organizations. FullStack offers a range of services that include employee benefits, payroll management, HR administration, risk management, and IT services.
About Simple IT
Simple IT is a human-centered technology management company that helps growing teams be more productive. The company's niche is human-centered technology management. Simple IT offers a range of services that include cloud management, IT strategy, cybersecurity, and compliance.
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TALENT ACQUISITION, RECRUITMENT & RETENTION
PRnewswire | April 18, 2023
Blockchain-powered recruitment platform LaborX has announced a partnership with the SingularityNET AI solutions developer to automate job search and hiring processes.
LaborX, which is a product of Australian company Chrono.tech, will use SingularityNET's AI solutions to analyze job candidate profiles in a faster and more comprehensive manner, streamlining the screening, selection, and hiring process. Current statistics indicate that each posted vacancy can attract from 1,000 to 2,000 candidates, making selection both time-consuming and inefficient. The application of AI is expected to improve candidate matching and significantly increase selection efficiency.
The modern labor market is still reeling from the effects of the COVID-19 pandemic. Considerable issues remain with screening and selection procedures, which are lengthy and often imperfect due to large response volumes, resulting in the sifting out of potentially valuable talent. Labor force participation rates have also remained stagnant since the end of the pandemic, posing challenges in both time and analysis terms before HR teams in the search for qualified professionals. In addition, the low degree of automation and inefficient AI integration leave little room in the HR domain for a human experience and a personalized, transparent, and communicative approach to candidate selection. To address these issues, LaborX and SingularityNET will test AI-powered HR software.
"AI technology is in a phase of rapid advancement and one after another area of human pursuit is being effectively automated by Large Language Models, neural-symbolic systems and other latest innovations. At this stage, however, as AI takes on more tasks it also creates new forms of work for people to do – and there is a role for AI in helping match people needing work with the ever-shifting array of employment and contracting opportunities," noted Ben Goertzel, CEO and Chief Scientist at SingularityNET.
Smart use of AI solutions can significantly reduce recruiting workloads for hiring managers through automation, thus drastically reducing candidate screening and selection times. With refined and customized search parameters, the AI can single out talent pools with pinpoint precision and match candidates with employer requirements. Most importantly, advanced AI tools can neutralize screening bias, expand candidate sources, and enhance the recruitment experience, approximating it to human communication via the use of tuned chatbots.
"According to our estimates, labor and time costs for selecting the best candidate will be reduced by more than 100 times, and optimal parameter settings will allow AI to find a candidate in a matter of seconds, while currently it takes dozens of working hours," Sergei Sergienko, Chrono.tech founder and CEO.
The LaborX platform was designed by Australian company Chrono.tech to improve job search experiences by giving users access to safe and efficient tools, including digital contracts and escrow services. An embedded decentralized infrastructure provides a rating system that prioritizes searches and reduces associated fees to just 10% for freelancers and 0% for employers — a far cry from the 20% to 30% charged by traditional recruiting platforms. LaborX also provides dispute resolution and flexible payment systems, which include different currencies and digital assets across multiple blockchains. LaborX has already attracted over 120,000 talents and about 5,000 employers on the platform.
The partnership with SingularityNET opens up vast development possibilities for Chrono.tech. The company is planning to achieve full recruitment process automation within the framework of its services through the use of AI solutions and blockchain technologies.
About LaborX
LaborX is an on-demand work platform built by Australian blockchain company Chrono.tech. As a jobs marketplace hosted on the Ethereum network, LaborX connects freelancers and customers through smart contracts, enabling robust protections and efficient blockchain payments — wherever the different parties are based.
About SingularityNET
SingularityNET is a full-stack AI solution powered by a decentralized protocol and the first and only decentralized platform allowing AIs to cooperate and coordinate at scale, removing one of the major limiting factors to AI growth today — the lack of interoperability — which severely restricts the ability to leverage the strengths and capabilities of individual AIs.
About Chrono.tech
Founded in 2016, Chrono.tech is Australia's oldest blockchain business that is engaged in building a suite of software solutions aimed at the HR and recruitment sector. In early 2022, the company raised $30 million in a funding round led by Australian venture capitalist Mark Carnegie and a leading European Family Office.
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HR ANALYTICS, HR STRATEGY
Lattice | March 08, 2023
HR solutions provider, Lattice, recently announced the launch of its People Strategy Group. The People Strategy Group is a consulting consortium that assists senior leaders in developing efficient people programs with certainty, enhancing employee engagement, optimizing team performance, and producing outstanding business outcomes. The group represents a development of Lattice's Advisory Services, focusing on readying companies for the constantly changing world of work.
In recent years, businesses have faced numerous challenges that demanded quick adaptations from HR teams and leaders. The pandemic and its impact on work arrangements and mental health, the "Great Resignation," and a growth period have highlighted the need for retention and hiring strategies. As an impending recession looms, businesses are under pressure to achieve growth with limited resources while prioritizing top-performing employees.
The People Strategy Group consists of a team of experienced people strategists with more than 100 years of HR experience and extensive expertise in various domains, such as workforce planning, organizational design, people analytics, and executive leadership coaching. They will collaborate directly with people leaders to create and execute personalized HR strategies that are highly effective. These strategies will involve goal management and OKRs, talent management, compensation, and career development, drawing on the team's knowledge of operations, research, and principles of exceptional people management. Furthermore, customer feedback and research projects support the team’s work, ensuring that all recommendations are grounded in practical trends and outcomes.
Dave Carhart, VP of the People Strategy Group, Lattice, said, "We understand that there is a clear difference between understanding what you need to drive more effective people programs, and knowing how to execute the changes and approaches necessary to make it happen." He further added, "Our goal is to help our customers unlock the tools to not only create and launch high-impact people programs, but to ensure those programs are designed strategically for the specific needs and challenges facing their organizations."
(Source – CISION PR Newswire)
About Lattice
Lattice is a platform that empowers business leaders to build engaged, high-performing teams and cultivate winning cultures through people success. Its suite of tools simplifies the process of launching 360 performance review cycles and engagement surveys, tracking progress towards OKR/goals, gathering real-time feedback, and promoting manager 1-on-1 meetings. Lattice aims to make work more meaningful by improving people strategy and enhancing business strategy.
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