EMPLOYEE EXPERIENCE, EMPLOYEE ENGAGEMENT
Businesswire | April 20, 2023
Betterworks, the leader in modern performance management solutions, today announced an embedded analytics partnership with Visier, the globally recognized leader in people analytics, to provide HR leaders with deep people insights around what drives employee success in the workplace. This capability will allow customers to develop targeted strategies to improve performance, engagement, and overall organizational success. Under the partnership, Betterworks will seamlessly integrate Visier’s analytics engine into a new offering called Betterworks Advanced Analytics that will be available on the Betterworks platform.
According to the “The State of People Analytics 2022-23” report, only 29% of HR professionals believed their organization is good at making positive changes based on people analytics. Most enterprise HR teams have an abundance of people data around such factors as performance, engagement, behaviors, and skill development, but the data exists in scattered silos, and integrating them is usually a struggle. Consequently, there is no way to pinpoint the impact of HR programs on employee behavior and overall business outcomes. In addition, most data analytic tools are not easy to work with—they offer no guidance around the right questions to ask or the range of factors to consider. Nor do they indicate how to use the information and explain the decisions it can drive.
In contrast, Betterworks Advanced Analytics is unique because it brings together the rich data from the Betterworks platform, including performance, engagement, employee growth data, and employee demographic data. Dashboards provide coherent insights for HR to deliver on the right talent initiatives, such as investing in the most valuable performance-building activities and knowing how to refocus employee training efforts. The solution also presents the insights in the form of a visual data story that follows a narrative structure starting with the business question and presenting the answer in the form of a dashboard.
In the first phase of its launch, Betterworks Advanced Analytics will offer chief people officers and HR business partners several benefits:
Enhance workforce effectiveness through a deep comprehension of the factors that enable or inhibit employee performance and engagement. Actionable insights provide clarity around steps to take to inspire and retain the talent base.
Unmask hidden bias in the performance process by revealing the differences in career coaching, developmental opportunities, performance ratings, and other activities for different groups within an organization. This information helps direct organizational DEIB initiatives and enables HR leaders to take action to ensure fairness in employee performance enablement and career advancement.
Establish a connection between learning and development (L&D) initiatives and their impact on the business value to fine-tune learning programs for optimal employee growth and performance.
HR will now be able to focus on understanding the enablers of top performance, productivity, and engagement in employees. Their organizations will move far beyond connecting-the-dots and basic operational questions to harness strategic people insights for the health of the business. “The C-Suite expects HR leaders to have answers to questions about how to strategically invest in talent development, especially as it relates to advancing the business and helping employees reach their growth and development targets,” said Arnaud Grunwald, chief product officer at Betterworks. "Betterworks Advanced Analytics enables companies to uncover hidden patterns by unlocking the wealth of data they have around employee goals, feedback, check-in conversations, performance ratings, calibration data, and much more. We are thrilled about our partnership and investment in a robust platform like Visier in this next phase of Betterworks’ analytics journey.”
“What Visier is best at is connecting data on people into the insights that improve business outcomes,” said Dave Weisbeck, chief strategy officer at Visier. “With Betterworks, there is an amazingly rich set of engagement, performance, and skills data that comes from their modern approach to performance management, and so we couldn't be more excited about being an embedded partner with Betterworks so that we can help them unlock those insights for their customers.”
As businesses deal with the current economic uncertainty, the good ones know that the thing to focus on is remaining relevant by preparing for the long term. And that means implementing a talent management strategy that will allow them to do more with the fewer people they now have, identify the drivers of outperformance to empower all employees, and position the workforce for agility and resilience to smoothly navigate change. Betterworks Advanced Analytics enables businesses and HR leaders to do just that by providing insightful people data so that HR leaders can focus on actions that both drive employee development and better support conquering business goals. The first phase of the general availability of Betterworks Advanced Analytics is planned for the Summer of 2023.
Founded in 2013, Betterworks develops best-in-class performance management solutions that enable exceptional results and put employee experience at the heart of how companies align, motivate, retain, and develop their people. Unlike monolithic legacy HR technology, Betterworks’ lightweight and enterprise-ready SaaS solutions for check-ins, feedback, employee engagement, and recognition are built to scale for businesses of all sizes. Our customers’ employees are proven more engaged and satisfied in their roles, which is why industry leaders like Colgate-Palmolive, Intuit, Freddie Mac, Asurion, Udemy, Vertiv, HCSC, and the University of Phoenix rely on Betterworks to manage and enable performance. Betterworks is backed by Kleiner Perkins, Emergence Capital, and John Doerr.
Visier is the recognized global leader in people analytics, providing on-demand answers to people-powered businesses. Behind every great brand, product, or idea is the Human Truth, and the Visier People Cloud reveals the fundamental questions and actionable truths capable of elevating your employees—and your business—to new heights. Founded in 2010 by the pioneers of business intelligence, Visier has over 25,000 customers in 75 countries around the world, including enterprises like BASF, Bridgestone, Electronic Arts, McKesson, MerckKGaA, and more. Visier is headquartered in Vancouver, BC with offices and team members worldwide.
HR PRACTICE, RECRUITMENT & RETENTION
PRweb | April 06, 2023
Breezy HR, the leader in small and midsized business applicant tracking software, announced the release of Incognito Apply, which instantly levels the playing field for applicants without a minute of extra work for hiring teams. Incognito Apply uses an AI engine with machine learning to quickly and easily remove gender, age, and ethnicity from applicant profiles at the first stage of the hiring process. Hiring teams can then evaluate each applicant on job-relevant skills alone to make sure they’re moving the right candidates forward.
“We are all working to create more diverse high-performing teams,” says Barry Williams, Head of Product at Breezy HR. “Our goal with Incognito Apply was to simplify removing bias for any size hiring team, straight-up eliminate unconscious bias during the initial screening, and help our customers meet those goals and beat their competition.”
It's not just hiring teams that win with Incognito Apply—candidates get a major boost, too. By enabling Incognito Apply on a job, Breezy automatically hides all of the noisy personal information from candidate profiles, ensuring that the focus is on their all-star skills, qualifications, and experience—not their identity.
Incognito Apply is the latest advanced feature to join Breezy’s march toward the future of hiring, which already includes AI Candidate Match Score, automatic EEOC + OFCCP reporting, Structured Interviews, Scorecards, and more. Now, with Incognito Apply, hiring teams of all sizes and levels of experience can unlock the power, simplicity, and impact of AI-enhanced anonymous hiring.
“Anyone who enables the add-on in Breezy can take advantage of easier, faster, and better diverse hires with Incognito Apply now,” according to Williams. “Just post your job in a single click to dozens of the top job sites, as you normally do in Breezy, and we’ll take care of the rest.”
About Breezy HR
Breezy HR is a consumer top-rated, high-performing market leader in small business and mid-market recruiting software. Its user-friendly applicant tracking system turns messy, ad hoc, or complex hiring processes into streamlined, automated workflows that teams at every stage can stick to and benefit from. Breezy HR empowers nearly 10,000 teams to organize their work and deliver quality hires quickly. As recognized with accolades from Gartner’s Magic Quadrant, G2Crowd, TrustRadius, Forbes, and more, Breezy HR—part of Learning Technologies Group plc—is one of the fastest-growing and most recommended applicant tracking systems for small and mid-size businesses.
About Learning Technologies Group
Learning Technologies Group is a leader in the high-growth workplace learning and talent industry. The Group offers end-to-end learning and talent management solutions ranging from strategic consultancy, through a range of content and platform solutions to analytical insights that help customers transform through their people.
LTG is listed on the London Stock Exchange Alternative Investment Market (LTG.L) and headquartered in London. The Group has offices in Europe, the United States, Asia-Pacific and South America.
LTG’s businesses are at the forefront of innovation and best-practice in the learning technology and talent management sectors, and have received numerous awards for their exceptional performance. Our portfolio of brands represents the best of breed and they are acknowledged throughout the industry as market leaders.
HR ANALYTICS, WORKFORCE MANAGEMENT
PRnewswire | June 01, 2023
Veritone, Inc. (NASDAQ: VERI) ("Veritone" or the "Company"), a leader in enterprise AI software and services, today announced its agreement to acquire Broadbean, a global leader of software-as-a-service (SaaS) technology that makes talent acquisition and engagement easier, faster and more efficient, from CareerBuilder. Covering more than 180 countries, serving 3,000+ clients and integrated with over 100 Applicant Tracking Systems (ATS) partners, the strategic acquisition of Broadbean will expand Veritone's AI-powered human resources solutions offerings and will build upon Veritone's acquisition of PandoLogic in 2022. Total consideration paid will be $52.5 million in cash on a cash- and debt-free basis. The acquisition is expected to be immediately accretive to Veritone's operations, and on a standalone basis, is expected to generate SaaS and GAAP revenues of over $35.0 million on an annualized basis while contributing attractive EBITDA margins.
Veritone's Innovative HR Solutions Enable Increased Efficiencies within the Hiring Process
Both Broadbean and PandoLogic hold leadership positions in the rapidly evolving talent acquisition market, which is valued at $36.1 billion globally as of 2022, according to Staffing Industry Analysts. By using AI recruiting tools to engage job seekers, Veritone HR Solutions will accelerate employers' hiring efficiency with advanced data-driven hiring decisions and process automation. With more than half of Broadbean's revenue coming from outside of North America, the combined offerings will further accelerate Veritone's geographic expansion and address the challenges presented by today's remote and hybrid hiring requirements.
The acquisition of Broadbean will add more than 5 billion data points of global job advertising performance to Veritone's AI algorithms and analytics, enabling Veritone to further enhance recruitment insights for customers and scale AI-driven enhancements across the business.
"This transformative acquisition signifies Veritone's focused approach to expanding and scaling our AI-powered HR Solutions portfolio globally," said Ryan Steelberg, president and chief executive officer of Veritone. "The acquisition will build on the strength of our organic growth, will expand our HR Solutions addressable market opportunity, is expected to be immediately accretive, and will unlock new sales growth and development opportunities as Veritone integrates PandoLogic's recruitment technology into Broadbean's global distribution software and network. The combination of our companies will extend the reach of leading AI technology and HR SaaS solutions globally to the world's largest multinational employers that require more efficient and scalable human resource and hiring solutions.
"We believe the added financial scale and leverage, and product expansion into over 100 ATS partners, will enable us to accelerate further adoption and utilization of our AI via PandoLogic's programmatic technology," added Steelberg. "Both companies have been leaders in the HR and talent acquisition markets, including Broadbean's global footprint with over 3,000 customers. We are excited about the prospects, and welcome Broadbean's talented team to Veritone."
"With our shared vision for technological HR-enabled solutions and strong cultural alignment, we are looking forward to becoming a part of the Veritone family," said Alex Fourlis, President, Broadbean, who will step into a new senior leadership role with the combined company after the transaction closes. "We believe that Veritone's AI capabilities and our combined portfolio will help unlock value in Broadbean's performance data, client and partner ecosystem."
Post-closing, the combined businesses of Broadbean and PandoLogic will be integrated and rebranded as Veritone HR Solutions. This will enable Veritone to better service new and existing customers with a broader suite of HR-enabled solutions and allow for increased efficiencies and a go-to-market team that has broader geographic presence.
In conjunction with the acquisition, Veritone is announcing several executive changes within its HR Solutions business. Terry Baker has stepped down as President and Chief Executive Officer of Veritone subsidiary, PandoLogic, and accepted a new role as independent advisor to Veritone, supporting Veritone's HR Solutions business. Additionally, Veritone has appointed Matthew O'Connor as Chief Revenue Officer of Veritone HR Solutions.
UBS Investment Bank is acting as sole financial advisor to Veritone. Cooley LLP is acting as legal counsel to Veritone. PJT Partners and LionTree are acting as financial advisors to Career Builder. Sidley Austin is acting as legal counsel to Career Builder.
Veritone is a leading provider of artificial intelligence (AI) technology and solutions. The company’s proprietary operating system, aiWARE™, orchestrates an expanding ecosystem of machine learning models to transform audio, video and other data sources into actionable intelligence. aiWARE can be deployed in a number of environments and configurations to meet customers’ needs. Its open architecture enables customers in the media and entertainment, legal and compliance, and government sectors to easily deploy applications that leverage the power of AI to dramatically improve operational efficiency and effectiveness. Veritone is headquartered in Costa Mesa, California with over 300 employees, and has offices in Denver, London, New York, and San Diego.