HCM Talent Technology Roundup – January 15, 2021
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Pandemic Pushes More Employers to Tap High-Volume Approach
Despite the pandemic and economic downturn, urgent and immediate needs have required many organizations to recruit high volumes of employees. Among employers using high-volume recruitment methods, 40% say the pandemic made them more likely to put such programs in place, reports the HR Research Institute.
The report said just 32% of HR professionals strongly believe their companies are good at high-volume recruiting, and most of those sometimes utilize external partners, especially staffing agencies, to meet their goals.
Economists believe Covid-19 vaccinations will pick up the pace of job growth at some point in the second quarter, while the earlier months of 2021 could suffer under the weight of a struggling labor market. According to Bloomberg, the impact of initial vaccinations on the job market will be muted because so many of those inoculated will be elderly, retired, and out of the workforce.
GR8 People added features that emphasize intelligent automation and new rules-based lead journeys. The features provide improved segmentation tools to help tailor talent strategies as needed, automates candidate engagement, and real-time dashboards that show who’s engaged, qualified, and ready to make a change.
Phenom partnered with the Dubai-based talent advisory firm Parisima to deploy its TXM platform in the Middle East. For a number of years, Parisima has supported companies throughout the region in implementing talent acquisition solutions.
SurveyMonkey announced a new integration with ServiceNow to help enterprises meld feedback data with digital workflows. The integration provides customers with insights that can help improve employee and customer engagement.
D&I technology provider Syndio raised $17.1 million in Series B funding, led by Bessemer Venture Partners. The company said increasing demand for its pay-equity platform have been driving growth recently as pay equity, increased representation of women and minorities in leadership ranks, and workplace fairness have become “table stakes” for enterprise firms. Syndio’s flagship product, PayEQ, is used by more than 100 firms to analyze and resolve pay disparities across 2.3 million employees.
Meanwhile, Kanarys, a data collaboration platform that facilitates employer-employee discussions on diversity and inclusion, raised $3 million to expand its technology, hiring, and sales and marketing efforts. According to media reports, the investment increases Kanarys’ funding to date to $4.6 million. The company’s technology gathers a variety of company and industry data, and employee reviews to help employers benchmark their performances and identify areas that need improvement
Benefits administrator and HR software provider Employee Navigator raised $34 million in growth equity funding from JMI Equity. The minority investment will fund hiring across all functions and help expand the company’s product. The company supports some 50,000 employers and 10 million employees and dependents.
The global HR advisory services market looked to be kind of sluggish between 2019 and 2020, showing a growth rate of just 1.12%. COVID-19 was the main reason, ResearchandMarkets said, and not surprisingly. All that social distancing, remote work, business closures, and general slowing down were going to act as a brake.
Still, the slowdown should be temporary. The researcher expects the market to recover and reach a value of $106.75 billion in 2023. That’s a CAGR of 7.13%.