Lawmakers propose savings accounts for employee learning

HR Dive | December 18, 2018

Lawmakers have introduced a bill aimed at encouraging lifelong worker learning. The Lifelong Learning and Training Account Act, proposed by Terri Sewell, D-A.L., and Suzan DelBene, D-W.A., would give workers access to tax-preferred savings accounts for education. A companion bill was introduced in the Senate by Mark Warner (D-VA). The employee savings account would include a monetary government match to help low and moderate income workers who hope to retrain or increase their skills at any time over the course of their careers, according to a press release from Sewell's office. The employee-owned and potable savings plans also would allow employees or businesses to contribute to an employee account with the government matching their savings up to $1,000. Workers could apply their savings to training that leads to a recognized post-secondary credential.

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How do some of the world’s biggest organizations transform their global HR operations? The five companies profiled in this eBook made their HR transformation journeys in very different ways, but they all arrived at the same destination—a single system that streamlines processes and boosts engagement across the entire organizatio

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How do some of the world’s biggest organizations transform their global HR operations? The five companies profiled in this eBook made their HR transformation journeys in very different ways, but they all arrived at the same destination—a single system that streamlines processes and boosts engagement across the entire organizatio

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TALENT ACQUISITION

Radancy Announces Strategic Investment from New Mountain Capital

Radancy | July 21, 2022

Radancy, the global leader in enterprise software and services solutions for end-to-end talent sourcing, today announced it has partnered with New Mountain Capital, a leading growth-oriented investment firm with over $37 billion in assets under management. The investment from New Mountain Capital will allow Radancy to accelerate its software product roadmap and expand its suite of services focused on helping enterprises optimally identify, engage, and hire talent. Existing investor Gemspring Capital will remain a minority investor in the company. Talent acquisition is a mission-critical function for every company, but finding the 'right' talent, in the most efficient way, at scale, is increasingly challenging in the 'new' world of work. Radancy provides a best-in-class, global, cloud-based technology platform and consultative services that automate the recruitment process and provide a premium, personalized candidate experience, enabling customers to find the talent they need to support their business objectives. Adoption of AI-based technology solutions to improve how companies identify, engage, and hire talent has been rapidly accelerating. Companies are increasingly looking for advanced career site platforms that offer a personalized and seamless job search experience, data-driven programmatic advertising technology to increase media ROI, candidate relationship management (CRM) solutions to track and engage with proprietary talent pools, and automated employee referral software to activate existing employee networks. Radancy's unified platform is built as a holistic solution for all these needs. "The world of work is undergoing massive change and enterprises need to adapt in order to remain competitive in the 'war for talent', We are seeing tremendous demand from companies who are going through a fundamental shift from legacy talent acquisition operating models, involving manual processes and ad hoc tools, to a more integrated approach, leveraging Radancy's end-to-end talent sourcing platform. This is an exciting time in our evolution and we are confident that New Mountain's industry expertise and proven track record of business building will help us accelerate our roadmap and continue to deliver greater value for our clients." -Michelle Abbey, CEO of Radancy. Radancy has proven themselves as a leader in the market, bringing a fully integrated technology stack with data and AI-driven solutions to help companies optimize their talent sourcing efforts, said Lars Johansson, Managing Director at New Mountain Capital. We look forward to partnering with Radancy for the next phase of growth as they continue to transform the world of talent acquisition. We see many avenues for growth ahead and look forward to building on the team's impressive track record of success. Radancy has an outstanding track-record as a trusted partner to its clients, serving many of the most respected employers in the world, and is well-positioned to continue to be at the forefront of the digital transformation of the talent acquisition function, added Sean Donovan, Director at New Mountain Capital. "Since our investment in 2018, Radancy has furthered its position as the market leader in enterprise talent sourcing solutions, building the industry's leading end-to-end technology platform, all while maintaining an exceptional commitment to customer success, We are excited about the continued partnership with Radancy and believe that New Mountain will be a great partner for the business in driving further success." -Ravdeep Chanana, Managing Director at Gemspring Capital. Radancy and Gemspring Capital were advised by Lazard as financial advisor and McDermott Will & Emery as legal counsel. Jefferies and Piper Sandler acted as financial advisors and Ropes & Gray served as legal counsel to New Mountain Capital. About Radancy- Radancy is the global talent technology leader intelligently solving the most critical challenges for employers and delivering results that strengthen their organizations. Radancy's unified platform, augmented by rich data and deep industry expertise, is revolutionizing how employers attract and hire the talent they need. Radancy's unified software platform includes a market-leading, integrated suite of technology solutions, including a best-in-class career site platform, programmatic advertising technology, candidate relationship management platform, and employee referrals software. For more information, visit www.radancy.com. About New Mountain Capital- New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity and credit funds, with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. To learn more, visit www.newmountaincapital.com. About Gemspring Capital- Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.5 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial & insurance services, healthcare services, industrial services, software & tech-enabled services, or specialty manufacturing sectors.

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HR STRATEGY

TELUS and LifeWorks receive court approval and key regulatory approvals for proposed acquisition

TELUS and LifeWorks | August 12, 2022

TELUS Corporation and LifeWorks Inc. today announced that the Ontario Superior Court of Justice (Commercial List) has granted its final order (the Court Approval) approving the plan of arrangement (the Arrangement) in respect of the acquisition by TELUS of LifeWorks previously announced on June 16, 2022. TELUS and LifeWorks also announced that the Competition Bureau of Canada has issued a no action letter in respect of the Arrangement. Accordingly, Competition Act Approval, as defined and as required by the Arrangement Agreement previously entered into between LifeWorks and TELUS, has been obtained. In addition, the applicable waiting period in relation to the Arrangement under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, has expired (the HSR Approval), with the result that the acquisition is clear to proceed in the United States as well as Canada. The Court Approval, the Competition Act Approval and the HSR Approval are significant milestones toward closing TELUS’ acquisition of LifeWorks and follows LifeWorks’ shareholder approval, which was obtained at a special meeting of LifeWorks’ shareholders on August 4, 2022. Pending receipt of regulatory approvals in the United Kingdom and Australia, and the satisfaction of customary closing conditions, the Arrangement is expected to proceed to closing which is anticipated to be on or about the fourth quarter of 2022. “We are pleased to have reached this significant milestone, with clearance to proceed with the TELUS – LifeWorks transaction in Canada and the United States, Importantly, we have seen overwhelming support from LifeWorks’ team members, customers and shareholders, and I am confident that the potent combination of the respective skills and capabilities of LifeWorks and TELUS Health will create a world-leading, end-to-end, digital-first employee primary and preventative healthcare, mental health and wellness platform, covering more than 50 million lives, and growing, on a global basis. We look forward to welcoming LifeWorks employees into our TELUS family so that, together, we can help even more people around the world lead their healthiest and most productive professional and personal lives.” -Darren Entwistle, President and CEO of TELUS This is an exciting new chapter for LifeWorks and together with TELUS we will be able to accelerate our shared vision of empowering individuals to take a more proactive role in the management of their health by unifying the continuum of care through digital-first innovations, as well as our unmatched in-person care, Our two organizations are aligned as leading purpose-driven companies that are committed to improving the lives of people around the world,said Stephen Liptrap, President and CEO of LifeWorks. About TELUS Corporation TELUS is a dynamic, world-leading communications technology company with $17 billion in annual revenue and 17 million customer connections spanning wireless, data, IP, voice, television, entertainment, video, and security. Our social purpose is to leverage our global-leading technology and compassion to drive social change and enable remarkable human outcomes. Our longstanding commitment to putting our customers first fuels every aspect of our business, making us a distinct leader in customer service excellence and loyalty. The numerous, sustained accolades TELUS has earned over the years from independent, industry-leading network insight firms showcase the strength and speed of TELUS’ global-leading networks, reinforcing our commitment to provide Canadians with access to superior technology that connects us to the people, resources and information that make our lives better. TELUS Health is Canada’s leader in digital health technology, improving access to health and wellness services and revolutionizing the flow of health information across the continuum of care. TELUS Agriculture & Consumer Goods is a global technology provider of innovative data insights and digital solutions, creating a unified, trusted and sustainable value chain. TELUS International is a leading digital customer experience innovator that designs, builds, and delivers next-generation solutions, including AI and content moderation, for global and disruptive brands across high-growth industry verticals, including tech and games, communications and media and ecommerce and FinTech. TELUS and TELUS International operate in 28 countries around the world. Driven by our determination and vision to connect all citizens for good, our deeply meaningful and enduring philosophy to give where we live has inspired TELUS, our team members and retirees to contribute more than $900 million, in cash, in-kind contributions, time and programs, and 1.8 million days of service since 2000. This unprecedented generosity and unparalleled volunteerism have made TELUS the most giving company in the world. Together, let’s make the future friendly. About LifeWorks LifeWorks is a world leader in providing digital and in-person solutions that support the total wellbeing of individuals – mental, physical, financial and social. As the trusted leader in mental health and wellbeing, LifeWorks delivers a personalized continuum of care that helps our clients improve the lives of their people and by doing so, improve their business. Guided by our purpose to improve lives and improve business, we help our clients improve the wellbeing of their people, we help them improve workforce engagement and productivity, thereby improving the performance of our clients’ organizations. LifeWorks is a publicly traded company on the Toronto Stock Exchange. LifeWorks has approximately 7,000 employees, 25,000 clients, and serves 36 million individuals and their families in more than 160 countries.

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EMPLOYEE BENEFITS

Workzinga Launches Workplace Culture Fit Assessment

Workzinga | July 07, 2022

Workzinga, a human resources technology company focused on culture fit, launched its first product, Discover. Breaking the mold of existing pre-employment evaluations, Discover features Workzinga's Culture Fit Assessment designed to indicate the alignment between candidates and the company's workplace culture. Developed by organizational psychologists, the assessment reinforces the importance of candidates and employers considering each other based on key motivations, leadership preferences, personality, values and job preferences. Unlike most pre-employment tests that only evaluate six to eight characteristics, the Culture Fit Assessment aligns 26 unique traits. This insight grants hiring managers and candidates a greater perspective into how and where they align on their needs, interests and overall goals. The assessment has no wrong answers and no diagnostic results. The comparison report produced after completing the assessment shows the level of alignment between individuals and companies based on those 26 characteristics. "We believe there is more to a company than a job posting and much more to a candidate than a resume," said Dan Hunter, founder and CEO of Workzinga. "We believe there is more to a company than a job posting and much more to a candidate than a resume," said Dan Hunter, founder and CEO of Workzinga. "We surveyed 2,501 U.S. adults as we built this platform, revealing that employees stay at their jobs more than twice as long if it is a good culture fit. We aim to foster authentic conversations between candidates and employers during the hiring process to produce mutually beneficial job placements with greater tenure." Businesses can purchase Discover for a quicker, more effective and joyful hiring experience. Workzinga is launching two other pre-employment assessments with similar goals on the Discover platform this year. With headquarters in Brentwood's Horizon Center, Workzinga joins the growing number of tech companies based in the city. Clinical Psychologist Dr. Margarida Rafael and Marketing Officer Cole Evans lead this fast-growing team alongside Dan Hunter. To learn more about Workzinga's Discover platform, pricing packages, and how job seekers and employers can benefit, visit Workzinga.com. About Workzinga Workzinga is a human resources technology company focused on workplace culture fit. The Culture Fit Assessment on its Discover platform was developed by organizational psychologists and allows employers and job seekers to identify alignment on key motivations, leadership preferences, personality, values and job preferences before hiring. Built on the data that culture fit is essential to lasting hires, Dan Hunter founded the Nashville-based company in 2021.

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