LifeWorks | May 31, 2022
On May 26th, LifeWorks, a prominent benefits administration solutions provider who also offers extensive mental health, digital, and physical well-being offerings, announced a partnership with Nayya, a benefits experience and healthcare management solutions provider.
"LifeWorks is on a mission to help employees make decisions that will lead them to live healthier, happier, and more productive lives. The LifeWorks team is proud to work with Nayya to help provide a more personalized, innovative, and integrated benefits experience that will help millions of Americans have more confidence in their financial decisions. This partnership helps by taking the guesswork out of the benefits enrollment process and provides tools for them to make the most of the benefits programs their employer offers."
- Bradley Fusco, Vice President & US Region Leader at LifeWorks
Nayya’s benefits experience solution is enabled by billions of data points and machine learning technology. Employees get the visibility, tools, and the confidence to leverage benefits available to them all year round. The partnership will enable LifeWorks and Nayya to offer an improved and personalized approach for their clients to help their employees.
"Nayya is thrilled to be partnering with LifeWorks to help millions of Americans improve their health and financial wellness. It is a tragic reality that choosing benefits is so confounding and complicated, as it is one of the most important financial decisions that Americans make each year. Together, we hope to give LifeWorks'clients financial peace on their best days and confidence on their difficult ones."
- Sina Chehrazi, CEO, and co-founder of Nayya
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.
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.
HVMG | June 20, 2022
The private hotel investment, ownership, and management firm, Hospitality Ventures Management Group (HVMG), announced that it has appointed Wilson Turner to the position of Vice President of human resources programs and support. Headquartered in Atlanta, HVMG is a comprehensive hotel investment group that is focused on repositioning hotels that are underperforming. The appointment of Turner will help the firm bolster its human resources solutions and programs and align them better with HVMG’s long-term plan.
“While not immune from the ebbs and flows of sourcing and retention, we put our talent and associate engagement front and center. Wilson has excellent experience in human resources, giving him a wealth of knowledge and tools to support our teams and navigate the talent challenges facing our industry right now."
- Robert Cole, president and chief executive officer, HVMG
Turner has more than thirty years of cumulative experience in human resources in various industries. He joined HVMG in 2020 as the Director of HR. Following an onsite role as an HR specialist in Paychex/Oasis, Turner has held similar roles in companies like OrthoSensor Inc., Cox Media Group, Tampa Bay Times Publishing Co., and Tyson Foods. He received his professional HR certification from the Society of Human Resource Management in 2000. He received his Bachelor of Arts degree in business from North Carolina State University and his MBA from Saint Leo University.
“The top three issues facing the industry right now are labor, labor and labor, making human resources more invaluable now than ever. This new position allows me to take proactive steps that directly impact associate engagement and retention, ranging from offering a daily product to rethinking merit increases. Our 2022 annual performance-based increase potential started 2% higher than any prior year to account for inflation, meaning HVMG associates can earn up to an 8% pay increase this calendar year. I look forward to creating innovative solutions as we move further into the post-pandemic world.”
“Wilson’s promotion is an important step forward to continue to build the infrastructure to support our associates at both the property and corporate levels. Tactics are working as our 2021 turnover was 25% below the industry and 10% below our own 2019 numbers. We are on track to run these same or better retention numbers in 2022.”
Sue Sanders, EVP & chief human resources officer, HVMG