HR PRACTICE,EMPLOYEE BENEFITS
HiBob | December 08, 2022
HiBob, the company behind Bob, the HR platform transforming how organizations operate in the modern world of work, today announces it has been named to Nucleus Research's Hot Companies to Watch list for 2023.
In identifying the hot companies, Nucleus considered each vendor's current market position and their potential for impressive growth, justifying inclusion based on the vendor's momentum and recent successes. Some vendors on the list typify innovative approaches or new applications of technology; other companies are on the cutting-edge of their respective markets, delivering novel technology capabilities to customers and seeking to unseat incumbent solutions.
All vendors featured in this research note have moved towards driving customer value amid an uncertain economic landscape.
HiBob was recognized by Nucleus for its ability to deliver a high ROI and support a wide range of verticals and organizations with large remote workforces. In addition, Nucleus cited HiBob's new Workforce Planning module that introduces strategic future people planning and lets companies easily determine hiring needs to reduce instances of over- and under-staffing and be better prepared for changing business conditions.
"The tech industry is facing headwinds as we go into 2023, but a number of vendors offer exceptional value for their customers, The vendors in the hot companies to watch list are companies that stand out for their unique, industry-leading, and high value solutions."
-Ian Campbell, CEO of Nucleus Research
The 2023 Hot Companies to Watch List includes many vendors whose capabilities have become even more crucial as businesses continue to streamline processes or make transitions due to the economic uncertainty, and HiBob fulfills all our criteria in this respect, he concluded.
With another year of financial uncertainty looming, Nucleus Research looks to identify companies that address the world's shifting priorities, and to rising and falling trends as end-user organizations further discern what parts of their technology stack actually deliver value. CFOs are expecting to take a closer look at their balance sheets next year and filter out "nice-to-haves" in favor of critical applications.
Helping customers leverage their data to modernize the way businesses manage and look after their people drives our entire organization each and every day, Being named to Nucleus' 2023 Hot Companies to Watch list testifies to HiBob's mission of enabling businesses to put employee data to work in new ways that shape the workplace of the future. We aim to help create work environments where both people and businesses can thrive,said Ronni Zehavi co-founder and CEO at HiBob.
HiBob is on a mission to transform how organizations operate in the modern world of work with its HR platform 'Bob'. Leading the way for the future workplace, Bob offers resilient, agile technology that wraps all the complexities of HR processes into a game changing, user-friendly tool that touches every employee across the business. HiBob is used by more than 3,000 multinational companies - including Cazoo, Gong, Hopin, Monzo, Happy Socks, Fiverr, and VaynerMedia. Organizations using Bob are able to accelerate hiring, retain the best talent, upskill and elevate employee engagement.
HR ANALYTICS,EMPLOYEE ENGAGEMENT
Workhuman | November 29, 2022
Workhuman®, the company revolutionizing how employees celebrate, connect with, and appreciate each other in the workplace, today announced its 2021 revenues and billings, the appointment of a new board member, and the investment of €2.8M to expand its physical presence in its Ireland headquarters with a new state-of-the-art facility. The growth reflects a widespread movement among global enterprises to harness a culture of appreciation, which drove gross revenues in 2021 to reach more than $876M, up 28% from $682M in 2020.
In 2021, Workhuman recorded billings of more than $1.1 billion, along with $287M in net platform revenue. In addition, the company, which has nearly seven million people on its platform, processed more than 12 million billable awards (moments of recognition with a monetary value associated with them) in 2021 – a near-50% increase from the previous year.
"Workhuman is on an incredible trajectory, growing 28% year-over-year, as organizations continue to understand the impact that employee recognition can have on both their humans and their bottom line. Employees are worth more than any other tangible asset in the global economy. Between voluntary turnover and disengaged employees, organizations are battling a $1 trillion problem, Workhuman's employee recognition program can save enterprises millions in turnover costs, and our customers feel the positive impact of a culture of gratitude and appreciation on their bottom line. We're proud of our growth and look forward to helping more organizations meet today's biggest human capital challenges."
-Scott Dussault, Chief Financial Officer at Workhuman
Workhuman also announced that it has appointed to its board Vidya Peters, former Chief Operating Officer at Marqeta, a modern card-issuing platform. Previously, she was the Chief Marketing Officer at MuleSoft, acquired by Salesforce, and before that, she held various strategy and marketing roles at Intuit and Bain & Company. Peters brings a wealth of go-to-market and operating experience to the Workhuman board and will immediately replace Lorrie Norrington. She holds a B.S. in Industrial Engineering from Northwestern University, an MPA in Public Administration from Harvard University, and an MBA in Marketing and Finance from Northwestern University's Kellogg School of Management. Peters was named one of the Most Influential Women in the payments industry by American Banker in 2022.
We are very excited to add Vidya to the Workhuman board. Her deep expertise and experience with customer success building and managing operating efficiencies in the technology space make her a valuable addition to our board, We would like to thank Lorrie for her many contributions that had a positive impact on the growth and success of the company,said Workhuman CEO Eric Mosley.
As part of its €2.8M investment in Dublin, Workhuman expanded its physical footprint by approximately 15,000 square feet with a brand-new facility. In addition to more physical space, the company revamped its in-office perks to prioritize its employees' professional success, health, and emotional well-being and safety. These improvements include wellness, fitness, learning and development spaces, and more.
After spending years at home during the pandemic, employees have never been more aware of what they expect from their work and workplace. They have new and increased expectations of their employers and workplaces desiring a dramatically different and better experience than the one they left. Our new workplace goes far beyond the physical space into every aspect of the employee experience throughout the workday, tying together space, technology, behaviors, and amenities, The new way of working is making the workplace a destination, not an office. We have created a space that supports our culture and strengthens our community,said Jess Klay, VP of Global Workplace Experience Design at Workhuman.
Workhuman® is helping companies meet today’s biggest human capital challenges - including unprecedented turnover, employee engagement, hybrid work environments, and DE&I - through the Workhuman Cloud®, a secure SaaS platform that provides the industry’s best-in-class Social Recognition® solution. As the leading global provider of technology solutions, analytics, expertise, and services helping organizations of all sizes build and foster workplace cultures powered by employee recognition and crowdsourced feedback, Workhuman is revolutionizing the way employees celebrate, connect with, and appreciate each other in the workplace. Combined with unmatched data through Workhuman iQ™, we empower HR and business leaders with proactive insight to understand issues as they develop and tools to help them make the right decisions to align business objectives and culture to deliver immediate impact. And, with world-class award redemption from our proprietary global e-commerce network, Workhuman is committed to building more connected human-centered workplaces that recognize the value and potential of each and every employee.
For more than 20 years, Workhuman has been pioneering the human workplace by disrupting legacy and obsolete HR approaches to improve the employee experience at work, with solutions that engage with approx. seven million customer employees in 30+ languages, in 180 countries, generating 100 million instances of human connection. With dual headquarters in Dublin, Ireland and Framingham, Massachusetts, Workhuman employs 1,000 people who deploy solutions and services at scale, committed to helping companies improve returns on their most important investment– their people.
EMPLOYEE BENEFITS,WORKERS COMPENSATION
Innovation Minds | November 23, 2022
Innovation Minds, a Silicon Valley-based company, announced today the launch of their new Rewards-as-a-Service solution. With this solution, Innovation Minds is enabling companies to offer their employees tailored reward options in order to increase talent retention and satisfaction.
Motivating and rewarding employees is one of the top challenges facing organizations today. In fact, according to a recent survey, more than 60% of respondents say their company struggles to motivate and retain top talents. The Innovation Minds team is uniquely positioned to help companies with this challenge by providing personalized rewards service that creates experiences where employees are engaged and motivated throughout the day.
With this solution, companies can customize rewards based on data insights, such as reward preferences and demographics. It offers a self-service platform to let companies update or make changes to their rewards program for their employees. It also allows employees to get real-time notifications when they earn a reward and they can redeem it on their device with just a click, creating a seamless and enjoyable experience for employees.
"We believe this is an important step forward in helping employers create a more elevating work environment, Innovation Minds is focused on helping businesses create positive and engaging employee experiences. By making the rewards experience easier and more enjoyable, we are helping our customers deliver more value faster."
-Innovation Minds CEO Bala Balasubramaniam
The Innovation Minds team integrated their patented concept ‘Earn-Your-Pride-To-Reward-Your-Peers’, an innovative framework that allows employees to exchange appreciation for each other’s contribution, encouraging employees to make deep, personal connections with their team members and see how their position affects the work of others. Mike Lella, Head of Business Development added, The idea of receiving reward from an accomplished peer is much more meaningful than simply receiving recognition from management alone. Simultaneously, this notion is also encouraging a self-sustainable culture of engagement because the awardees get to enjoy the privilege of earning AND giving.
The solution features a wide range of reward options that supports 594 global brands, 45 countries and 28 currencies, customizable for each company's specific needs while being aligned with their company values. It also provides HR teams and managers with tools to measure the success of their campaign and track results.
We understand that rewards are often not enough to keep your employees motivated at work. It's about more than just giving out candy it's about creating an environment that makes work rewarding in itself. This latest upgrade will allow us to support even more companies in their efforts to drive employee engagement and retention, said Maria Bolo, Head of Customer Success at Innovation Minds.
UKG | November 10, 2022
UKG, a leading provider of HR, payroll, and workforce management solutions for all people, today announced it will embed UKG solutions into popular systems of engagement and communication, beginning with Microsoft Teams. This initiative will help reduce the disruptions people regularly experience at work switching between multiple business applications and instead allow them to focus on completing important actions in the moment in the solution they prefer, like Teams.
Capitalizing on the highly extensible UKG FleX technology platform, UKG collaborated with Microsoft to develop a single, seamless interface for UKG Dimensions and Shifts, the schedule management application within Teams. Organizations can empower their people to view and accept open shifts, request time off, punch in and out, and complete other workforce management tasks directly from Teams — without ever switching to Dimensions.
“Our collaboration with Microsoft is a powerful example of how the world’s leading technology providers are coming together to transform the workplace IT experience in service of people so that everyone can instead focus on more meaningful and purposeful aspects of their role, Our vision to embed UKG into leading systems of engagement will eliminate the need to learn and navigate multiple applications and allow people to achieve more in the flow of work. We are committed to creating the new standard for interoperability in the HCM industry.”
-Hugo Sarrazin, chief product and technology officer at UKG
The UKG Dimensions integration with the Shifts app in Microsoft Teams helps the workforce simplify scheduling and time management, all on one single, secure pane of glass, With over two billion frontline workers globally, we have a unique opportunity to provide digital solutions to address the needs of this workforce who has been traditionally underserved,said Nicole Herskowitz, vice president of Microsoft Teams and Platform.
UKG has a long history of collaborating with Microsoft to help people get more done at work. The two organizations first partnered in 2018 to explore opportunities to help people get faster access to answers through a workforce management chatbot. In 2021, the collaboration expanded to feature a UKG Pro chatbot for Teams, as well as the ability to surface critical updates from Dimensions and Pro to Microsoft’s employee experience platform, Viva. Other projects together have focused on integrating Azure Active Directory (Azure AD) for security and simplifying business insights with Microsoft Dynamics 365.
We foresee a future of HR technology where people are able to focus on what they need to achieve and how to make the biggest impact instead of which business application they need to use to complete frequent and routine tasks, By removing this friction from the workplace experience, we’ll help our tens of thousands of customers continue to positively transform work for their people every, single day,said Chris Todd, CEO at UKG.
At UKG, our purpose is people. As strong believers in the power of culture and belonging as the secret to success, we champion great workplaces and build lifelong partnerships with our customers to show what’s possible when businesses invest in their people. Born from a historic merger that created one of the world’s leading HCM cloud companies, our Life-work Technology approach to HR, payroll, and workforce management solutions for all people helps more than 70,000 organizations around the globe and across every industry anticipate and adapt to their employees’ needs beyond just work.