HR STRATEGY

Globalization Partners Raises $200 Million in Investment Funding

Globalization Partners | January 25, 2022

Funding News
On January 24, premier global employment, Globalization Partners announced that it raised $200 million in investment from Visa Credit Partners (VCP). VCP is a subsidiary of Visa Equity Partners. Following the investment, Globalization Partners is now valued at $4.2 billion.
Globalization Partners is a platform that specializes in enabling companies to build a remote workforce. The company has an annual recurring revenue of approximately $1 billion. It plans to use the investment to expand its market share and tap into the $176 billion remote employment market globally. Some of the company’s clients include names such as ADP TotalSource, CoinDesk, Kruze Consulting, TaylorMade, London & Partners, and many more.

"Globalization Partners is uniquely positioned to capitalize on the massive opportunity we see ahead of us. We pioneered this space and offer the most comprehensive and compliant solution available, combining best-in-class technology and AI, with a global team of HR, legal and customer service experts who understand the local customs, regulatory and legal requirements in each geography we serve."  

- Nicole Sahin, Chief Executive Officer and Founder of Globalization Partners

"Globalization Partners' journey in transforming the remote work industry has been truly remarkable. As a customer of G-P, at both Vista and within our broader portfolios, we have witnessed firsthand their best-in-class legal compliance, the quality of the user experience, and the deep expertise and support they provide. VCP is proud to offer capital solutions to founders of innovative software companies. We look forward to partnering with Nicole and the entire G-P team as they look to further capitalize on the untapped global market and expand their platform to new customers in new markets."

- David Flannery, President of Vista Credit Partners

"Over the past decade, we have invested hundreds of millions of dollars in our business, building our global presence and technology platform to support the evolving and complex talent needs of growing companies. With Vista as our investment partner, we will be able to drive further growth and continue building innovative products to meet the increasing needs of our customers at scale."

- Bob Cahill, President of Globalization Partners

Spotlight

There’s never been a better time to be in HR. Now more than ever, your company depends on the unique insights you can bring to the table. It’s time to think big and push your HR team beyond the status quo. But what does that mean? At Paycor, we define “status quo” as an HR process that’s bogged down by paperwork and administrative tasks. It’s off-the-shelf technology that’s more of a hindrance than helpful. It’s the voice in your head that says, “There’s so much more we could do if only we had the time.”


Other News
HR STRATEGY

Diversified Medical Healthcare Acquires Mobile App for Employers to Easily Comply with Reinstated OSHA Mandate

Diversified Medical Healthcare | December 23, 2021

With the OSHA mandate for large businesses fast approaching, Diversified Medical Healthcare (DMH) announces their acquisition of a mobile app providing easy solutions for employer mandate compliance. The app, ConfirmD, created by Buddycheque LLC, serves as a digital health wallet for each employee, keeping their medical records in one user-friendly and secure platform. With an administrator dashboard, employers can view the status of COVID-19 testing and vaccinations across their organization at-a-glance, making reporting and compliance streamlined and simple. The app can be implemented in days and will make a drastic difference for businesses and their operations in the weeks and months ahead. "Throughout the pandemic, we've worked with large businesses and organizations across the nation to effectively handle their COVID-19 management needs, We've kept up with CDC guidelines and FDA regulations to ensure the companies we work with are informed and up to date to implement best practices and keep their employees safe. ConfirmD is just one more way we're helping businesses to stay open and compliant without disruption." -Kevin Murdock, CEO and Founder of Diversified Medical Healthcare. ConfirmD generates custom QR codes for each app user to store their vaccination records and test results in one place. This can be accessed by a facial recognition feature for maximized privacy from any mobile device. The HIPAA compliant platform also has the capability to integrate with any laboratory information management system (LIMS) to enable employees and employers to access COVID-19 results in real-time, as soon as the lab processes the results. Buddycheque, LLC, the company which created the ConfirmD app, was founded by Dr. Ramsey Kilani, Karl Wagner, Bob Ramsey, and Alex Chatel – who have amassed years of expertise in the industries of healthcare and tech security. The ConfirmD app is now powered by OnGen medical data management software company, which is a part of the portfolio of Diversified Medical Healthcare companies which deliver innovative solutions for the healthcare industry for molecular diagnostics, medical supplies, laboratory equipment, and medical software. "We developed this app to make it as simple as possible for people to keep track of their own medical information with cutting edge technology. We are thrilled that this app is now being taken to new heights by Diversified Medical Healthcare, initially in its efforts around the COVID-19 pandemic and for its broader application for the future of healthcare." -Buddycheque, LLC co-founder, Ramsey Kilani ABOUT: Diversified Medical Healthcare (DMH), headquartered in Greenville, SC is a holding entity with several portfolio companies providing healthcare solutions for improved patient care nationwide. Offering advanced clinical laboratory services that span throughout the US, their fully accredited laboratories include Premier Medical Laboratory Services, Dynasty Medical Laboratory Services, and First Medical Laboratory Services. DMH also provides medical supply and equipment distribution under Vessel Medical, delivers custom procedure trays for various surgical needs with CPT Medical, and helps to quickly and accurately manage medical data with their medical data software company, OnGen. DMH is your trusted partner providing advanced solutions for a healthier tomorrow.

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HR STRATEGY

Venterra Realty's 2021 Technology Innovations Mobilize Workforce, Empower Employees

Venterra Realty | December 28, 2021

Venterra Realty continues to invest in mobile technologies for enhanced employee processes and productivity, which has successfully resulted in improved employee flexibility, efficiencies, and job satisfaction. Since its inception, Venterra has maintained a focus on enabling its workforce to create opportunities for internal job growth and is on the front lines of building an environment where skilled people seek to be employed. One of the ways that Venterra has set itself apart in its ability to maintain a highly-skilled workforce is an emphasis on making work-life easier by leveraging solutions to support a mobile workforce, reducing tedious tasks, and allowing for time to be spent completing meaningful responsibilities. "It is no secret that Venterra's culture is appealing to potential and current colleagues. A large part of our culture is about implementing innovative solutions to enable our people to be successful in their role, and for our people in onsite roles. Specifically, this means freeing them from the desk and office and enabling them with tools, technology, and real-time data to make decisions while they are out on the property, meeting with residents, doing inspections, completing service requests, etc. Behind our technology-first approach is the fact that we care deeply about the daily lives of our colleagues and are always considering how we can leverage mobile and digital tools to improve their satisfaction. At the end of the day, people want to feel like they made an impact. Providing efficiencies enables them to get to impact faster and more often. " -Stephanie Gonzalez, Vice President of Innovations. To double-down on mobilizing Venterra's frontlines and Property Operations, Venterra has added dual function, mobile computing platforms to enable on-site staff to manage their properties while away from their desks and offices, a proprietary mobile app for property management teams is also available for those that prefer a smaller device, are on the go, or want to stay productive from their phones, eliminating the need for return trips to the office; and smart home automation products, to support key-less digital apartment access for community managers and maintenance people, eliminating trips to the office for keys. These not only impact colleague satisfaction, but they also have a significant impact on resident satisfaction. "Response and resolution times have never mattered more to consumers, so when you have access to everything you need and can reach resolution in real time, while out on property, without having to return to the office, that translates to real value for our residents which translates to more satisfied residents. Bottom line, make things easier and solve problems faster for your customers and they will love you for it," Gonzalez adds. "A key benefit of our technology stack is that we built it ourselves. Our PMS, mobile property operations app, resident app, and our CRM are therefore fully integrated, so we can adapt much more quickly to accommodate new ways of working," - Andrew Basso, Vice President of Technology. In addition to specific support for property-oriented operations, Venterra has also invested in tools that support the broader workforce. This includes class-leading software platforms for collaboration, planning, and cloud-based analytics, along with an events platform that allows leaders to connect to engage in company-wide learning. Venterra is thereby able to constant meaningful content that team members can engage with on their schedule from the comfort of their homes. About Venterra Realty: Founded in 2001, Venterra Realty owns and manages approximately 70 communities and more than 20,000 apartment units across 13 major US cities that provide housing to over 40,000 people and 12,000 pets. The organization has completed $7.2 billion in real estate transactions and currently manages a portfolio of multi-family real estate assets valued at approximately $4.0 billion. Venterra is committed to improving the lives of its residents by delivering industry-leading customer experience.

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WORKFORCE MANAGEMENT

beqom Partners with Modulus Data to Streamline HR Compensation Processes

beqom | May 23, 2022

5WPR, one of the largest independently-owned PR firms in the U.S., announces the creation of a specialty Travel Technology division, after welcoming multiple new clients within the industry this last month. As an extension of 5WPR's technology practice, the travel tech division consists of clients that are a part of the travel booking experience, as well as brands offering unique experiences through the use of tech. "The travel industry has forever been changed by the pandemic, and many of our clients provide improvements on the current experience, such as additional comfort in booking your vacation or alternative travel and destinations offerings, 5W welcomed our first travel tech client well over a year ago, and the outstanding work we've completed has drawn increased attention from others interested in how our offerings can support their work." -5WPR CEO, Matthew Caiola. 5WPR's tech practice has grown to specialize in several highly-specialized areas and prides itself on being a leading adtech, martech and fintech public relations firm in the nation. The team delivers results through key industry relationships with influencers, bloggers, celebrities, and media. By implementing integrated PR, Digital, Influencer Partnerships and Social Media campaigns, 5W ensures maximum coverage for its clients. PR services offered to travel tech clients include messaging and positioning, media relations, initial public offering media strategy, new market expansion campaigns, visibility programs, content creation, sponsorships/partnerships, digital media campaigns, event planning, thought leadership and speaking opportunities. About 5WPR 5W Public Relations is a full-service PR agency in NYC known for cutting-edge programs that engage with businesses, issues and ideas. With more than 250 professionals serving clients in B2C (Beauty & Fashion, Consumer Brands, Entertainment, Food & Beverage, Health & Wellness, Travel & Hospitality, Technology, Nonprofit), B2B (Corporate Communications and Reputation Management), Public Affairs, Crisis Communications and Digital Marketing (Social Media, Influencer, Paid Media, SEO). 5W was awarded 2020 PR Agency of The Year and brings leading businesses a resourceful, bold and results-driven approach to communication.

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RECRUITMENT & RETENTION

IT Workers Will Be Hard to Find and Keep in 2022

SHRM | December 14, 2021

Three recently published reports suggest that while the demand for technology will remain high in 2022, skilled IT workers will be hard to find and difficult to keep. These trends will disrupt technology projects, but they will also close the gap between technology and HR leaders according to a survey report titled The Impact of Technology in 2022 and Beyond: an IEEE Global Study. The report reveals that 97 percent of IT leaders agree that their team is working more closely than ever with human resource leaders to implement workplace technologies—though it may take longer than usual due to the staffing shortages. The Institute of Electrical and Electronics Engineers (IEEE) report, which was published in November, relied on 350 chief information officers, chief technology officers, IT directors and other technology leaders in the U.S., China, U.K., India and Brazil who work at organizations with more than 1,000 employees across multiple sectors. The IT leaders shared their views on the state of HR technology as the impact of COVID-19 continues to change the workplace. Respondents predict that in 2022 they'll have a plethora of difficult IT problems to solve: Maintaining strong cybersecurity for a hybrid workforce of remote and in-office workers (83 percent). Managing return-to-office health and safety protocols, software, apps and data (73 percent). Deciding what technologies are necessary for their company in the post-pandemic future (68 percent). Recruiting technologists and filling open tech positions will be difficult to do in the year ahead (73 percent). A survey published in October by TalentLMS, part of the Epignosis Group of Companies, and recruiting software company, Workable, suggests there's more trouble ahead. The companies polled 1,200 IT workers for its report and found 72 percent of respondents in the U.S. said they are thinking of quitting their jobs in the next 12 months. Respondents cited several reasons to quit, with 41 percent saying their jobs had limited career progression, 40 percent noting a lack of flexibility in working hours, and 39 percent citing a toxic work environment. "The percentage of IT workers [who] are thinking about quitting their jobs is higher than I would imagine," - Periklis Venakis, chief technology officer at Epignosis. Venakis said employers will have to adapt to remote work, which will continue after the pandemic ends. He added that HR should see this as an opportunity because companies can find employees in markets that were closed to them prior to the pandemic. One company that is watching its IT staff turnover rates is Cloudflare Inc., an infrastructure and website security company based in San Francisco. According to Janet Van Huysse, Cloudflare's senior vice president and chief people officer, since the pandemic began, the company's employee turnover rate peaked in May 2021. Cloudflare has more than 2,200 employees and an IT organization of 964 workers globally. "Since March 2020, the IT organization accounted for approximately 30 percent of all our terminations, most of which were voluntary, Primarily, these were due to either career progression, opportunities elsewhere, or because of performance or capabilities fit," -Janet Van Huysse, Cloudflare's senior vice president and chief people officer She agreed with the 2021-2023 Emerging Technology Roadmap for Large Enterprises report from Gartner Inc., published in September, in which 64 percent of IT executives cite talent shortages as the most significant barrier to the adoption of emerging technology, compared with only 4 percent in 2020. Gartner's survey also showed that among the technology areas affected by IT talent shortages are computer infrastructure and platform services, network, security, digital workplace, IT automation, storage and database systems. IT executives cited talent availability as the main adoption risk factor for the majority of IT automation technologies (75 percent) and nearly half of digital workplace technologies (41 percent). Yet across all technology domains, 58 percent of respondents reported either an increase or a plan to increase emerging technology investment in 2021, compared with 29 percent in 2020. As companies seek IT skills, Huysse said HR leaders need to be open-minded about where talent comes from and embrace unconventional paths to tech by using more inclusive hiring strategies. She added that looking in unconventional areas for talent also means seeking applicants from more geographies. While a larger talent pool diversifies the candidate pipeline, it also creates more complexities for organizations. HR leaders must be flexible in their approach and be ready to support teams and leaders as they make this transition.

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Spotlight

There’s never been a better time to be in HR. Now more than ever, your company depends on the unique insights you can bring to the table. It’s time to think big and push your HR team beyond the status quo. But what does that mean? At Paycor, we define “status quo” as an HR process that’s bogged down by paperwork and administrative tasks. It’s off-the-shelf technology that’s more of a hindrance than helpful. It’s the voice in your head that says, “There’s so much more we could do if only we had the time.”

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