TALENT MANAGEMENT, TALENT ACQUISITION
PRnewswire | April 06, 2023
Eightfold AI, the leader in AI-powered talent intelligence, announced today it is integrating recent advances in generative AI large language models to create two role-specific Talent Intelligence Copilots. In addition, Eightfold's Talent Insights will reflect the changing skills and roles brought about by generative AI in the labor market. Already an acknowledged industry-leader for AI insights and capabilities, these new capabilities in the Eightfold Talent Intelligence Platform offer greater assistance for employees and recruiters, increasing both effectiveness and productivity.
Since its founding, Eightfold AI has used deep-learning AI to understand a job seeker's skills, potential, ability to learn new skills and adapt to new situations, as well as facilitate the placement of those candidates in roles that help them fulfill their career potential. The addition of generative AI with its state-of-the-art natural language capabilities further enhances that experience. This is especially timely as talent management becomes increasingly complex.
The new Talent Intelligence Copilots offer Eightfold AI customers superior text generation capabilities and stronger language understanding to assist with their activities at every stage of the talent management process.
Employee Copilot: Designed to help every employee better manage their career and complete talent development tasks. An employee can use this Copilot to assist in aggregating career insights, identifying career education opportunities, or discover career options available to them within the organization, using a conversational, prompt-based interface.
Recruiter Copilot: Assists recruiters as they go through the talent acquisition journey. Recruiters can ask the Copilot to help with interview scheduling, send candidate reminders, generate a job description and consolidate insights from across the platform. Using natural language interaction, this can enhance recruiter productivity and ease day-to-day tasks.
The way work is getting done - from coding to content generation and many other roles - is rapidly changing with the impact of generative AI. According to estimates, 40% of all working hours can be impacted by generative AI large language models. This is because language tasks account for 62% of the total time employees work. Eightfold Talent Insights will provide a deep understanding of which roles are changing and use that to help enterprises better plan their workforce.
"We pioneered the use of AI to enhance talent management, bringing optimized, actionable talent insights and personalized experiences for users throughout every step of the journey," said Ashutosh Garg, CEO of Eightfold AI. "Now with the power of generative AI models, we are enhancing that experience while continuing to adhere to our principles of responsible AI. We are committed to developing AI responsibly and ethically through fairness, transparency, and privacy."
"Our continued partnership with Eightfold AI has proven that AI is a powerful deep learning technology that significantly augments the leadership and talent development solutions we are building," said Krishnan Rajagopalan, President and CEO, Heidrick & Struggles. "Together, we are bringing new innovative, AI-driven solutions that empower faster, more insightful decision-making around leadership and talent development decisions to drive agile, future-focused leadership planning and better business outcomes. Incorporating generative AI will add additional benefits, making these offerings even stronger."
"Architecting an agile workforce is critical to the success of any business," said Mike Bertolino, Global Skills Foundry leader, Ernst & Young LLP. "We are continuously looking for future-proofed technologies and solutions that can empower our teams—and our clients—to be adaptable. Working with Eightfold AI is helping us achieve that. Incorporating the latest generative AI further improves an already leading platform."
Eightfold AI will unveil Employee Copilot and Recruiter Copilot at its annual talent summit Cultivate 2023 on May 9-10. Register to attend Cultivate 2023 conference here. Learn more about the Eightfold AI Talent Intelligence Platform here.
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.
HR PRACTICE, EMPLOYEE BENEFITS
Reliance Matrix | March 13, 2023
Reliance Matrix, a technology-enabled absence, productivity, and employee benefits services provider, recently announced the launch of Matrixlink®, a solution designed to integrate absence and employee benefits data with Human Capital Management (HCM) systems. The solution's modular architecture enables employers to select data integrations that best meet their organization's needs while remaining flexible to ensure compatibility with a wide variety of HCMs currently in use.
Matrixlink was developed through years of creating "point-to-point solutions" with leading HCM and benefits administration systems. The solution gathers all vital interactions with an employee benefits and absence administrator, such as Reliance Matrix, into data that can be transferred immediately into and out of an HCM platform, creating productivity gains and efficiencies.
The solution transforms employer benefits administration activities, such as evidence of insurability updates, plan setup, and billing, into actionable data that can save HR resources and time. Matrixlink's design includes connection points for the management of return-to-work processing, benefit calculations, time tracking, employee absence data, and payroll updates, resulting in secure, end-to-end automation across the claim process.
Vice President of Sales at Reliance Matrix, JoAnne Doyle, shared, "Our clients talk to us all the time about the need to make it easier to manage their benefits program on their system." She added, "With Matrixlink, we can apply solutions that solve for those challenges and create meaningful, valuable efficiencies within their HR tech investment."
(Source – Business Wire)
About Reliance Matrix
Reliance Matrix is a Philadelphia-based employee benefits company that delivers comprehensive, integrated solutions and services to employers. Focusing on customized solutions, it offers a seamless member experience and expertise in regulatory knowledge and cutting-edge technology. Its absence and benefit solutions enable employers to manage time away from work while attracting and retaining valuable human capital. As a global Tokio Marine Group member, the company offers the financial stability and innovative spirit of a Third Party Administrator (TPA) to optimize an employer's workforce.
EMPLOYEE BENEFITS, PAYROLL
Businesswire | May 04, 2023
Strongpoint Partners (“Strongpoint” or the “Company”), a tech-enabled financial services platform focused on third-party administration of retirement plans, recordkeeping, payroll and HR solutions for SMBs, today announced a new partnership with Retirement Planners and Administrators (“RPA”), a leading retirement third-party administrator (TPA) headquartered in Falls Church, Virginia.
Backed by Shore Capital Partners (“Shore” or “Shore Capital”), a Chicago-based private equity firm focused on microcap investing, Strongpoint combines an integrated software platform for outsourced retirement services alongside a relentless passion for service and innovation. The partnership with RPA comes on the heels of Strongpoint’s recently-announced partnership with Retirement Strategies Group, an independent, TPA firm headquartered in New Orleans, and an exceptional year of business performance and growth in 2022.
Founded in 1969 by Hans Banziger, RPA provides cost-effective, accurate and hassle-free retirement plan compliance administration and open-architecture valuation daily recordkeeping. With the addition of RPA to its family of brands, Strongpoint now has over 3,200 plans under administration, serves clients in more than 35 states, and manages more than $6B in total assets under administration, making the company one of the leading, fully U.S.-based TPA firms in the industry.
“My father, our talented team and I have spent the past 54 years putting our all into building this business, and joining the Strongpoint family is a monumental step for us,” said Richard Banziger, Principal at RPA. “We are proud to be solidifying the legacy of RPA, and it was important to us to partner with an organization committed to building upon that legacy, not replacing it. Strongpoint has already established an incredibly strong foundation with early success and the backing of an experienced capital partner such as Shore, and we are very excited to be invested in the future success of the business.”
“Strongpoint could not be more pleased to welcome RPA into our family,” said Danny Hest, Chief Executive Officer of Strongpoint. “When building Strongpoint, we knew the importance of identifying and partnering with firms that prioritize client service and serving the small and medium-sized business community. Richard shares our passion for bringing the best firms in the industry together to create an unrivaled experience that our clients and partners can rely on. As the industry continues to adapt to constant regulatory change, including upcoming changes to state retirement mandates in RPA’s home state of Virginia, our reach, size, and concentration of experience will ensure we’re better prepared than anyone to serve the needs of small and medium-sized businesses through a continuously evolving regulatory environment.
About Strongpoint Partners
Strongpoint Partners is a fast-growing, tech-enabled financial services platform that provides third party retirement administration (“TPA”), recordkeeping, and integrated payroll and HR technology solutions for small-and-medium businesses. Strongpoint’s suite of services prioritizes accuracy, compliance, and reduction of regulatory risk for its clients, delivered by local client success teams that understand the nuances of the markets they serve. With a coast-to-coast network of leading firms including HowardSimon, Jocelyn Pension Consulting, Retirement Strategies Group (“RSG”), and Retirement Planners and Administrators (“RPA”), Strongpoint Partners combines a relentless passion for service and innovation with the experience and expertise required to make retirement work for everyone. For more information, please visit: www.strongpointpartners.com
About Retirement Planners and Administrators
RPA has proudly served the employee benefits market since its founding in 1969, leading with a customer-centric approach that helped simplify the complicated and made retirement benefits accessible to a traditionally underserved segment of the small and medium-sized business community. Located in Falls Church, Virginia, RPA works with clients across the continental US with a focus on serving the local DMV community. Having navigated the introduction of defined contribution plans such as 401(k) solutions and near-constant regulatory change for over 50 years, RPA is our community’s partner in ensuring everyone has a plan for their financial future. For more information on how we keep our clients compliant while maximizing the benefits of their retirement strategies, please visit us at www.retirementplanners.com.
About Shore Capital Partners
Shore Capital Partners, a Chicago-based private equity firm with offices in Nashville, is focused on microcap investments within the Healthcare, Food and Beverage, Business Services and Real Estate industries. Shore supports management partners with capital, business development expertise and industry knowledge to accelerate growth, fund acquisitions and generate value for shareholders. Shore targets investments in proven, successful private companies with superior management teams, stable cash flow and significant growth potential, including organic growth and growth through industry consolidation. Shore has approximately $3 billion of cumulative capital commitments through various investment vehicles. For more information, please visit: www.shorecp.com.