Hr Analytics, Payroll
PRnewswire | July 17, 2023
Truework , a leading provider in verification of income and employment (VOIE) in the U.S., announced today the launch of Truework Guardian, a new verification automation tool for employees, employers and payroll providers that replaces the manual HR verification process while increasing the protection of sensitive data. Guardian is the first solution to help payroll providers and Human Capital Management systems (HCMs) automate verifications for every employer while protecting employee data through unique risk scoring on every request.
Guardian allows payroll providers to scale verification to thousands of employers without sacrificing on data security, privacy, or transactional speed. Similar to modern credit card systems where consumers are alerted about potential fraudulent transactions, Guardian notifies employees whenever a verification request is deemed suspicious, requiring additional authorization before sensitive data is shared.
Within the Guardian product, payroll providers and HCMs can use Truework's proprietary Transactional Risk Scoring system to set thresholds for which verifications are auto-approved and which require additional employee authorization.
"Helping protect employee data while accelerating high-impact financial transactions, like buying a home, is at the core of Truework's mission," said CEO Ryan Sandler. "With Guardian, payroll providers finally have the ability to automate verifications for every employer using risk-based insights to flag potentially fraudulent requests. This provides the best possible employee and employer experience."
In 2021, Truework launched the Payroll Network alongside Gusto and Rippling to allow payroll providers to customize data sharing settings for employers and employees on their platform, improving data transparency and control. Guardian is the next evolution in this offering, allowing payroll providers and HCMs to standardize verification automation for every employer using their platform.
"Requiring additional employee authorization on a high-touch transaction like applying for a mortgage adds unnecessary friction because the employee has already provided consent," added Sandler. "With Guardian, we analyze unique risk insights based on the reputation of the verifier, the classification of the verifying institution, as well as IP address and other data points to only require additional authorization when the risk of fraud is elevated."
Before Guardian, many verification providers would automatically approve verification requests without a full assessment of risk, significantly increasing the chances of fraud or identity theft for all employees.
In 2023, Truework has onboarded 3 new payroll partners into their instant data network representing over 8 million employees. Guardian is currently available for over 48 million employees spanning across some of the largest payroll systems in the country.
On a mission to create trust in every financial transaction, Truework provides a one-stop, customizable platform for income and employment verification that prioritizes efficiency, accuracy, and security. Using Truework, banks, lenders and tenant screening providers can verify 90% of U.S. employees.
Talent Management, Workers Compensation
PR Newswire | August 10, 2023
Attracting and retaining top talent persists as a major challenge for organizations. In a recent survey, the leading stressor keeping HR leaders up at night is keeping its top people, closely followed by competing for top talent. For employees, compensation is key: 70 percent identify salary as the largest factor motivating them to accept a job offer. Properly compensating high-performing talent through the use of analytics can help organizations looking to boost their talent retention efforts.
isolved recently announced the launch of its Benchmark Insights, which offers HR teams anonymized and aggregated industry data from millions of U.S. employees to aid organizations in making better, faster, and better-informed hiring and retention decisions, by leveraging the data of over 168,000 businesses that utilize isolved products and services.
Now, isolved is going one step further. To help organizations navigate the complicated compensation and talent landscape, isolved has announced the release of its Compensation Analytics and Talent Intelligence solutions, which build on its recent Benchmark Insights release. These newest releases allow businesses of all sizes to utilize enterprise-grade analytics with easy-to-use products to ensure that all compensation and talent decisions are more strategic and data-driven.
"In the past, powerful analytics were largely only available to enterprise corporations with limitless resources. That is no longer the case," said Geoff Webb, VP of Solutions Strategy at isolved. "With the release of Benchmark Insights, we gave small and medium-sized businesses access to a solution that would better guide their decisions. Now, with the release of Compensation Analytics and Talent Intelligence, we're moving to the next phase of actionable analytics that can be used by HR teams of all sizes. Within isolved People Cloud, our customers have the ability to view position-specific salary averages across over millions of employee records within seconds."
Salient features of isolved Compensation Analytics and Talent Intelligence:
Uninterrupted workflow: Customers can view critical compensation analytics directly within the solution, which allows them to make decisions quickly and without interrupting the flow of work.
Drill-down metrics: To more easily sift through employee big data, the solution allows HR professionals to drill down into compensation metrics to better understand data points like average annual base salary, average compensation ratio and more.
Look into the future: The solution allows customers to leverage predictive capabilities to gain a view into the future of compa-ratio, the number of employees who will be above and below the midpoint, as well as the range penetration distribution.
Significant benefits to help organizations of all sizes better manage talent and retain top performers:
Gain a competitive advantage: Companies gain access to position-specific salary data from organizations across the U.S. to ensure they're offering equitable and competitive compensation packages. This will not only help keep current talent engaged but assist in future recruiting efforts.
Plan for the future: Gives HR and payroll professionals a complete view of compensation and performance when planning for promotions and succession scenarios. Further, companies can gain visibility into compensation trends for specific positions so they can plan and prepare for future budgeting needs.
Keep top talent engaged: While only five percent of employees are considered "high performers," they are approximately 400 percent more productive than the average employee. Additionally, the cost of replacing these employees can be as much as 1.3 to 2 times their annual salary. Rewarding high performers through fair market compensation increases the likelihood of retention.
With 43 percent of HR leaders unsure if the Great Resignation is over, HR teams will need to use every tool at their disposal to ensure they hold on to their top-performing employees—especially using compensation analytics and talent intelligence.
isolved is the most-trusted HCM technology leader, providing the best combination of software and services to meet the needs of today's People Heroes – HR, payroll, and benefits professionals. From talent acquisition to workforce management to talent management, our solutions are delivered directly or through our HRO partner network to more than 6 million employees and 168,000 employers across all 50 states – who use them every day to increase productivity, accelerate decision-making and ensure performance, while reducing risk. isolved People CloudÔ, our intelligently connected platform, automates the entire employee experience by design, so that organizations can engage, empower, and energize their talent while freeing their People Heroes to exceed their goals and grow their careers.
Hr Analytics, Workforce Management
Businesswire | July 21, 2023
Leapsome, the all-in-one intelligent people enablement platform, today announces the launch of Leapsome for Startups, its new program designed to provide early-stage companies with world-class people enablement tools at an accessible cost. As part of the program, all new customers with fewer than 50 employees will receive a 25% discount on their first Leapsome module for up to three years, while those affiliated with a Leapsome partner will receive a 50% discount.
Scaling with Leapsome from day one
Leapsome’s integrated suite of people enablement tools includes five core modules – Reviews, Surveys, Learning, Goals, and Compensation – as well as Competency Frameworks, Instant Feedback, and Meetings. With a discount of up to 50% on their first module, early-stage startups can accelerate growth and drive success with Leapsome in several ways, including:
Strategic Alignment: Leapsome’s Goals and Meetings modules are essential for preserving strategic alignment. The Goals module, with its real-time progress tracking, amplifies team unity and productivity. The Meetings module promotes efficient planning and follow-ups, avoiding time wastage and keeping everyone laser-focused on shared objectives. Speed is everything for an early-stage startup, and to build and execute fast, the whole team needs to be 100% aligned on priorities. Leapsome enables businesses to achieve and maintain this critical alignment.
Performance Management: Leapsome’s blend of Reviews, Competency Frameworks, and 1:1 meetings creates a dynamic feedback ecosystem and continuous growth. Performance Reviews deliver insightful feedback while the Competency Framework pinpoints skills gaps, aiding future hiring or training decisions. Regular 1:1 meetings provide a forum for candid conversations, boosting productivity and overall job satisfaction. Promoting these discussions early in a startup’s journey fosters a culture of feedback and learning, which is crucial for sustainable business growth and success.
Employee Engagement: Leapsome’s Surveys module is vital in gauging employee engagement - a critical factor for startups where maintaining a motivated and high-performing team can directly impact success. Its ability to capture anonymous feedback enables leaders to swiftly identify and tackle pressing issues, cultivating a more inclusive, engaging workplace. Measuring engagement drivers early establishes a baseline for engagement and provides startup leaders with valuable data they can use to continually refine and enhance company culture.
Learning & Development: With Leapsome’s Learning module coupled with the Competency Framework, skill development becomes a streamlined journey. The platform provides resources for ongoing learning, tracks progress, and aligns it with the identified competencies that need enhancement, paving a clear path for individual growth. Fast growth is critical in the early stages of a startup, so making this learning process effective sets early-stage companies up for continued success.
“Startups need to be agile and efficient. Investing in people processes from day one isn’t a luxury; it’s a necessity. We believe the secret to our success at Leapsome is that we implemented effective people enablement processes internally from the beginning – setting a strong foundation for sustainable growth. We now want to support other companies to find similar success! That’s why we are committed to helping startups invest in their most valuable asset: their people,” said Jenny von Podewils, co-founder and co-CEO of Leapsome.
This commitment is born from the real-life experience of Leapsome’s co-founders, Jenny von Podewils and Kajetan von Armansperg. They bootstrapped Leapsome for six years before securing a US$60 million Series A from Insight Partners. Throughout this journey, they successfully grew their team from two to nearly 200 employees and placed significant importance on investment in effective people processes.
“Many early-stage startups fall into the trap of thinking they can sideline HR processes and people enablement. But having these elements in place from the beginning saves valuable time and money – the cornerstone of long-term business success. These core foundations fuel growth from day one by driving employee engagement and productivity and building organizational resilience,” said Kajetan von Armansperg, co-founder and co-CEO of Leapsome.
Empowering the next generation of startups
Today, over 1500 forward-thinking CEOs and HR leaders trust Leapsome to drive productivity and build organizational resilience. Among them, hundreds of high-growth startups are scaling with the platform:
“Leapsome has enabled us to set goals and expectations with each other. As a result, it has helped our employees clarify where they are with their development and where they want to go,” says Deborah Caulet, Head of People Development at Blinkist.
“While there is no silver bullet to guaranteeing success in the scale up journey, the most significant advantage is usually someone and not something,” said Rebecca Liu Doyle, Managing Director at Insight Partners. “Leapsome’s startup program provides early-stage companies with a much-needed foundation. Great businesses don't exist without great people.”
With its new startup program, Leapsome aims to equip more early-stage companies with the tools they need to grow their people and businesses. This initiative provides startups with a powerful, affordable people enablement solution and underscores Leapsome’s commitment to supporting the next generation of successful companies.
Leapsome is the all-in-one, intelligent people enablement platform trusted by CEOs and HR teams at more than 1500 forward-thinking companies, such as Spotify, monday.com, and Unity, to drive employee development, productivity, and engagement.
The platform offers an integrated suite of tools for Goal Setting & OKRs, Performance Reviews and 360s, Competency Frameworks, Learning & Onboarding, Engagement Surveys, Feedback & Praise, Compensation & Promotions, and Meeting Management. Leapsome was founded in 2016 by Kajetan Armansperg and Jenny Podewils. Visit leapsome.com to learn more.