Public Insight Releases Fall Update of TalentView SolutionPublic Insight, a leading provider of talent management solutions, has announced the release of its Fall update for the TalentView solution. This update brings new features and enhancements designed to further support organizations in managing their talent effectively.
Zip Code Analysis, LinkedIn® Data, Shift and Benefit Reporting Provide Hyper-Targeted Talent Intelligence for Recruiting and Business Development
(Akron, OH) Dec. 21,2023 Public Insight announces the fall release of its TalentView job market data and analytics solution. New features and capabilities such as zip code analysis and 3D mapping, LinkedIn organizational data, and shift and benefit reporting provide a unique level of hyper-targeted talent market intelligence for recruiting and business development.
Granular analysis is available for over 160 talent market metrics. The number of organizations available in employer analysis and benchmarking has increased from 400,000 to 1.7 million. TalentView insights inform and justify recruiting decisions and influence hiring manager discussions. Use cases for identifying prospective companies to target, expanding product/service offerings, benchmarking, competitive intelligence and content development support business development strategies.
Key Feature Highlights of the Fall Update of TalentView
Zip Code Analysis and 3D Mapping – Job postings can now be analyzed at the zip code level generating more targeted regional insights for posting volume, turnover, supply and demand, and compensation. Job postings were previously analyzed at the metro (CBSA) level. This level of targeting will help inform sourcing strategies and improve ability to fill jobs. 3D mapping provides a quick, visual way to understand posting activity by specific locations.
In the example below, nurse posting volumes and reposting rates in CA are analyzed over time.
LinkedIn Organization Data – The addition of LinkedIn data increases the number of organizations in TalentView reporting to 1.7 million. Indeed® and Glassdoor® company data for postings and reviews/ratings has been mapped to LinkedIn organizations. These organizations cover 95% of job posting activity in the U.S.
In addition to the posting volume, supply and demand, time-to-fill and compensation analysis available by employer in TalentView, LinkedIn data provides more volume, depth and details to employer analysis. This enhances the ability to do targeted employer selection, analysis and benchmarking. Organizational reporting now includes specialty tags, multiple locations, LinkedIn follower counts and more. Reports include LinkedIn profile and company website links.
Employer Analysis Use Cases
TalentView insights have several use cases for sales, account management, recruiting, benchmarking, competitive intelligence and content development:
Target prospective companies by company size, type and location for business development
Add insights to expand product/service offering and increase revenue
Justify recruiting decisions and prepare for hiring manager discussions
Share client/competitor/market insights and trends with clients
Utilize employer insights as content for recruitment marketing and social media
Benchmark employer job/talent market KPIs over time and against competitors and the industry (including employer brand and DEI ratings)
Utilize employer, competitor and industry benchmarks to supplement HR/Executive reporting
Utilize employer, competitor and industry benchmark in new business pitches
Analyze who and where competitors are hiring to understand their growth strategies and direction
Shift and Benefit Reporting – Analysis and reports for job posting volumes, supply/demand and compensation can be created at the shift, schedule and benefit category levels. This capability is beneficial for companies and solution providers that recruit candidates that work in job shifts or schedules, such as those in healthcare, manufacturing and transportation.
Benefits reporting provides a more holistic understanding of competitive job postings and trends related to new benefit offerings.
In the example below, nurses’ compensation is analyzed by shift over time.
Ad Indicators – Advertising indicators from Indeed job postings are now captured and analyzed. These include: Sponsored Ad, Quick Apply and Fair Chance Job. Sponsored ads can help identify which companies have job titles that may need to be filled more quickly and have budget to spend on filling them. Quick Apply jobs may indicate a company doesn’t have an ATS or may need recruitment marketing services. Fair Chance Jobs could be a competitive advantage for companies recruiting alternative sources of candidates and it is helpful to see these trends over time.
Integrated KPI Reporting – Analyze over 160 KPI metrics easily and quickly using the new visualization with integrated tables and KPI metrics.
In the example below, registered nurse posting volumes, reposting rates, compensation, and urgency rates are analyzed over time by simply clicking on the table row.
“This release enables our most targeted and granular level of analysis yet to report on 160 talent market metrics,” explains Dan Quigg, Public Insight Chief Executive Officer. “Several new features were customer driven, which is yet another indicator of market demand for hyper-targeted talent market intelligence for decision making,” adds Quigg.
About TalentView
TalentView integrates and transforms jobs, talent and labor market data from Indeed®, Glassdoor®, LinkedIn® and government agency publications into strategic insights. Hyper-targeted market intelligence helps solution providers with business development and practitioners to inform and justify recruiting decisions. TalentView market insights are provided via reports and dashboards in our analytics platform and data integration with third party applications.
SOURCE Public Insight
Ceipal Further Increases Recruiter Productivity With New WhatsApp IntegrationThe integration of WhatsApp into the Ceipal platform is a positive development for recruiter productivity. WhatsApp, a popular messaging application, is widely used by individuals and businesses worldwide. By incorporating this widely-used communication channel into Ceipal, the platform can now offer recruiters a more seamless and efficient way to engage with candidates.
Users Can Strengthen Candidate Relationships, Schedule Interviews, and Auto-Source Candidates Directly From the Ceipal ATS
ROCHESTER, N.Y.,OCT. 11,2023 Ceipal, the industry-leading, AI-powered total talent acquisition and automation platform, is further increasing recruiter productivity through its new integration with WhatsApp—a free, cross-platform messaging service—so they can deepen their engagement with candidates in real-time. Ceipal applicant tracking system (ATS) users can now connect with candidates directly through WhatsApp conversations that strengthen relationships, improve efficiency, and attract talent faster.
Ceipal users can configure WhatsApp to contact candidates and automatically schedule interviews with them directly through the ATS, allowing candidates to accept, reschedule, or reject calendar invites directly from WhatsApp. The integration also enables users to auto-source candidates with Ceipal’s industry-leading artificial intelligence technology, which connects with potential candidates by sharing job information via email and WhatsApp messages to engage top talent from internal databases.
“In order to create remarkable candidate experiences, recruiters and staffing professionals must be able to immediately reach and nurture top talent before the competition,” said Ceipal Founder and CEO Sameer Penakalapati. “By interacting with candidates via instant messaging tools, such as WhatsApp, they can further build out their talent pools and personalize their communication with them. Ceipal’s WhatsApp integration is another solution for recruiters and staffing professionals to streamline their workflows and boost their productivity so they can strengthen their candidate relationships.”
Additionally, recruiters and staffing professionals can use WhatsApp to share GDPR consent requests. Candidates can easily accept or decline requests directly through WhatsApp, providing a more efficient way to handle these responses.
Ceipal’s WhatsApp integration is part of its suite of productivity applications integrations, which enable users to leverage their favorite software more effectively. These integrations help recruiters and staffing professionals save valuable time, automate repetitive processes, and empower them to grow their businesses.
For more information about Ceipal’s WhatsApp integration, which is now available for free, please visit the WhatsApp integration page.
About Ceipal
Ceipal is a scalable, AI-driven, total talent acquisition platform that provides visibility across all channels and sources while organizing your data into a single talent ecosystem. With the power of advanced automation and artificial intelligence, Ceipal’s industry-leading ATS and CRM capabilities empower you to efficiently identify, assess, engage, hire, and onboard the best talent. Ceipal Procurewise, our native and fully integrated VMS platform, provides unmatched capabilities for your HR, corporate procurement teams, and MSPs to source, manage, and engage contingent staffing, direct sourcing, and statement of work vendors and workers. Ceipal enables you to integrate, manage, and improve the entire talent acquisition lifecycle, so you can simplify, scale, and transform any high-growth business into a diverse talent powerhouse. Welcome to the new frontier of talent acquisition.
SOURCE Ceipal
资讯
2024年01月08日
资讯
Brandon Hall Group and G2 Name JazzHR a Leading ATS
Great news for JazzHR customers! JazzHR, an Employ solution, has been recognized as top recruiting software for small businesses by G2 and the Brandon Hall Group™.
This recognition further supports JazzHR as a powerful, easy-to-use applicant tracking system — perfect for SMBs looking to move away from manual recruiting and streamline their hiring.
JazzHR recognized as leading ATS software for small and medium-sized business
JazzHR won a coveted Brandon Hall Group Silver award for excellence in the Best Advance in Talent Acquisition Technology for Small and Medium-Sized Businesses category. This is the fourth time JazzHR has received recognition from Brandon Hall Group, receiving a Silver award last year.
The 2023 Brandon Hall Group Excellence in Awards™ are given for work in Learning and Development, Talent Management, Talent Acquisition, Human Resources, Sales Enablement, Future of Work, and Education Technology.
“In our 30th year, the Excellence in Technology Awards continue to showcase the best innovations in Learning, Talent Management, Talent Acquisition, HR, Workforce Management and Sales Enablement technologies,” said Brandon Hall Group COO Rachel Cooke. “We are proud to receive applications from a diverse range of organizations globally, reflecting the ever-evolving landscape of technology solutions.”
Entries were evaluated by a panel of veteran, independent senior industry experts, Brandon Hall Group analysts, and executives based upon these criteria: fit the need, program design, functionality, innovation, and overall measurable benefits. The complete list of winners can be found at: https://excellenceawards.brandonhall.com/winners/.
As SMBs embark on their hiring journey for 2024, they need a central recruiting solution that allows them to easily post to job boards, source candidates, schedule interviews, and automate workflows. The recognition from Brandon Hall Group reinforces that JazzHR empowers SMBs to replace time-consuming, repetitive recruiting activities with automated recruiting software.
G2 reports name JazzHR a leading small business recruitment software provider
In addition to the recognition from Brandon Hall Group, JazzHR was also featured in the four G2 reports throughout 2023 that highlight the top applicant tracking systems for growing companies.
And most recently, JazzHR has been spotlighted as one of the best ATS solutions in the G2 Winter 2024 Reports. The JazzHR SMB hiring platform was named a leader in the small business applicant tracking system and recruitment marketing categories, with more than two dozen badges awarded.
JazzHR recruitment software has helped streamline hiring for thousands of growing companies and many hiring team members have shared their positive experiences on G2:
“I haven’t found a better ATS for such a competitive price. It’s great for prescreening, pipeline management, collaboration, assessments, sending job offers, in addition to an easy to set up career page and seamless job syndication.”
“I like how JazzHR simplifies the whole recruitment process. It’s user-friendly, especially for setting up job posts and tracking applicants. Plus, the collaboration tools are great for getting the whole team involved in the hiring decisions.”
“As an HR department of one, I love the collaboration features! It makes working with hiring teams so much easier without extra training and hassle. I also appreciate the extra hands of the workflows to create a seamless experience for candidates.”
Streamline your small business recruiting process in 2024 with JazzHR. Book a demo today to learn how our SMB hiring technology can help you make great hires smarter and faster.
SOURCE JazzHR
资讯
2024年01月07日
资讯
EzPaycheck 2024 Helps Businesses Update Payroll Tax Rates For Compliance And EfficiencyEzPaycheck, a leading payroll software provider, has announced the release of EzPaycheck 2024, a software update designed to help businesses update their payroll tax rates for compliance and efficiency. The update includes the latest tax rate changes and ensures that businesses stay up-to-date with payroll tax regulations.
HalfPriceSoft.com offers a new 2024 version of ezPaycheck for novice payroll processors, ease of use and peace of mind. Download and test drive to get ready for the new tax year.
EzPaycheck payroll software from Halfpricesoft.com has been released for compliance, efficiency and cost effectiveness. The latest software release includes the new 943 form for customer convenience with no additional cost. Furthermore, it still includes all of the exceptional features and forms from previous year versions.
When recently interviewed, Dr. Ge stated, “The payroll processing software, ezPaycheck 2024, has been revamped for compliance and efficiency.”
The payroll processing software, ezPaycheck 2024, has been revamped for compliance and efficiency for customer ease of use.
Despite its cost and ease of use, business, HR and entrepreneurs should not mistakenly assume ezPaycheck 2024 runs short on features. ezPaycheck 2024 has an abundance of features a business needs to run payroll quickly and easily, including:
Supports daily, weekly, biweekly, semimonthly and monthly payroll periods. Features report functions, print functions, and pay stub functions.
Automatically calculates Federal Withholding Tax, Social Security, Medicare Tax and Employer Unemployment Taxes.
Includes built-in tax tables for all 50 states and the District of Columbia.
Easily calculates differential pay
Prints miscellaneous checks as well as payroll calculation checks.
Prints payroll checks on blank computer checks or preprinted checks.
Creates and maintains payroll for multiple companies, and does it simultaneously.
Prints Tax Forms NEW 943 Form,940,941,W2, and W3 (Copy A preprinted form required)
Supports multiple accounts at no additional charge.
Supports network access (additional cost)
30 day no cost trial. No registration required and absolutely no obligation.
ezPaycheck is compatible with Windows 11,10,8,7, and other Windows systems. We also sell a MAC version separately.
SOURCE HRTECH SERIES
资讯
2024年01月07日
资讯
ManpowerGroup to Announce 4th Quarter 2023 Earnings Results
MILWAUKEE, Jan. 2, 2024 ManpowerGroup (NYSE: MAN), the world leader in innovative workforce solutions, today announced that it plans to release 4th quarter earnings results before the market opens on Tuesday, January 30,2024. Management will discuss the results the same day in a live webcast at 7:30 a.m. Central Time (8:30 a.m. Eastern Time), which can be accessed on the company's website.
The webcast will be available for replay at the same URL beginning at 10:30 a.m. Central Time (11:30 a.m. Eastern Time) on January 30,2024. The replay will remain available for 30 days in this location. Supplemental financial information referenced in the webcast and the text of the 4th quarter press release can be found on the company's website, in the section titled "Financial Information," after 7:30 a.m. Central Time on January 30,2024.
About ManpowerGroup
ManpowerGroup®(NYSE: MAN), the leading global workforce solutions company, helps organizations transform in a fast-changing world of work by sourcing, assessing, developing, and managing the talent that enables them to win. We develop innovative solutions for hundreds of thousands of organizations every year, providing them with skilled talent while finding meaningful, sustainable employment for millions of people across a wide range of industries and skills. Our expert family of brands – Manpower, Experis, and Talent Solutions – creates substantially more value for candidates and clients across more than 70 countries and territories and has done so for 75 years. We are recognized consistently for our diversity – as a best place to work for Women, Inclusion, Equality, and Disability, and in 2023 ManpowerGroup was named one of the World's Most Ethical Companies for the 14th time – all confirming our position as the brand of choice for in-demand talent. For more information, visit www.manpowergroup.com.
SOURCE ManpowerGroup
资讯
2024年01月07日
资讯
DCI Consulting Group's Strategic Move: Acquiring Human Resource Specialties, Inc. for More Comprehensive Range of ServicesDCI Consulting Group, a renowned provider of human resources consulting services, has recently made a strategic move by acquiring Human Resource Specialties, Inc. (HRS). This acquisition aims to broaden DCI Consulting Group's range of services and strengthen its position in the market. HRS, an established consulting firm with over three decades of experience, specializes in equal employment opportunity (EEO) compliance and diversity and inclusion (D&I) initiatives. Their expertise includes statistical analyses, affirmative action plan development, and EEO and D&I training and support.With this acquisition, DCI Consulting Group aims to enhance its offerings in EEO compliance and D&I consulting.
The acquisition strengthens DCI's standing as a front runner in the affirmative action sector.
WASHINGTON, Jan. 3，2024 DCI Consulting Group (DCI), a leading provider of human resources consulting and compliance solutions, has announced the successful acquisition of Human Resource Specialties, Inc. (HR Specialties), a respected player in the affirmative action industry. This strategic move reinforces DCI's commitment to delivering comprehensive, innovative, and tailored solutions to meet the evolving needs of organizations.
The addition of HR Specialties' portfolio further empowers DCI to deliver comprehensive solutions that address the unique challenges businesses face in today's dynamic and ever-changing workplace environment.
"I am thrilled to announce the successful acquisition of Human Resource Specialties, which aligns with DCI's strategic vision and solidifies our position as the premier affirmative action planning consulting firm," said David Cohen, President of DCI Consulting. "I look forward to collaborating with HR Specialties' clients to maintain the outstanding services provided by Sandy and the team."
The acquisition will help DCI continue to meet the growing demand for affirmative action planning, OFCCP audit support, diversity and inclusion consulting, pay equity analyses, test validation, and much more.
As part of the acquisition, DCI Consulting Group will retain key personnel from HR Specialties, ensuring a smooth transition and continuity of services for existing clients. HR Specialties' clients can expect to benefit from a broader range of services, increased efficiency, and a deeper pool of expertise to support their human resources and compliance needs.
About DCI Consulting Group
DCI Consulting Group, Inc. is a human resources risk management consulting firm strategically headquartered in Washington, D.C. Members of DCI's staff are recognized experts in a variety of spaces, including affirmative action plan development and implementation, OFCCP audit and litigation support, systemic compensation discrimination analyses, pay equity analyses, DEIA metrics, and employee selection and test validation. DCI also offers proprietary software and related support to clients.
About HR Specialties
Human Resource Specialties, Inc., which was founded in 1984, provides human resource consulting and exceptional customer service for employers and attorneys, with a specialized focus on affirmative action plan preparation, OFCCP audit support, pay equity analyses, and other related services.
SOURCE PR Newswire
资讯
2024年01月07日
资讯
2023 Recap: A Turbulent Year with Significant M&A Changes in the HR Technology Market
Our annual reporting on M&A in the HR technology space is one of our most popular pieces of content year after year (see our 2022 version here). We look at some of the many announcements that happen over the course of the year, flag some key ones, and identify any big trends that seem to appear across the landscape.
2023 was no different than recent years. It’s a perennial “trend” from the “experts” in the space that “we will see more consolidation.” That statement is about as safe as saying that summer in Texas will be hot this year. Shocker.
What’s most exciting for us at Lighthouse is that many of these companies that are succeeding and shaking up the industry are also winners in the HR Tech Awards program (now accepting 2024 submissions), a clear indication that the judges in our program see significant value in what these firms are bringing to the market for their clients.
If you’re an employer looking for the right technology so support your organization, don’t hesitate to reach out for our insights.
Overall HR Tech M&A Trends and Insights
A considerable amount of consolidation in the services space, which is a bit tangential to this analysis of HR technology but significant for the larger market.
For instance, Arthur Gallagher & Co. acquired Buck in the benefits consulting and administration services space. We’re starting to see some of these benefits companies using their data in creative ways to identify health trends, provide analytics back to employers on their workforce, etc.
WilsonHCG picked up Personify in the recruitment process outsourcing industry. Our 2023 RPO research is some of the most compelling in the world when it comes to RPO buyer insights and behaviors.
Engage PEO acquired Zamp. Relatively small in the bigger scheme of things, but we’re planning some PEO research in 2024 to explore how PEO is evolving so we’re watching the space closely.
Also seeing some interesting crossover as services companies buy technology firms to scale and differentiate their services as well as technology companies buying service providers to reach more clients and bring more data into their solutions. AI-based solutions require a lot of data to train the models, and if it’s structured properly, services companies are sitting on a ton of data that can be a competitive advantage.
In the past month we’ve met with two different companies that started as services firms and built a technology that could take their intellectual property and scale it to more customers via a platform. The challenge with that is that services companies make money when they touch customer accounts and support them, but product/technology companies make money when they don’t have to touch customer accounts. It’s a difficult transition to make.
Let’s take a look at some of the announcements over the last year.
Key 2023 HR Technology Mergers and Acquisitions
Talent Acquisition and Hiring
Radancy, a global leader in recruiting with its Radancy Talent Cloud, acquired Brazen, a hiring event and communication platform and Ascendify, an enterprise-focused recruiting CRM.
Lightcast, a labor market insights company created by the merger of Emsi and Burning Glass, acquired Gazelle, a provider of B2B intelligence.
LiveHire, an HR Tech Award-winning hiring platform, acquired Arrived Workforce Connections to support growth in candidate reach and direct sourcing.
Clovers acquired Talvista to bring two inclusive hiring solutions under one roof.
Fama, an innovator in social media background screening and HR Tech Award-winning company, acquired Social Intelligence.
Spark Hire, a video interviewing solution, acquired Chally, an assessment solution. Video-only screening providers are trailing off in favor of video + assessment solutions that can provide a more full (and unbiased) picture of what candidates are about. Spark Hire also merged with/acquired Comeet, an ATS solution.
Veritone (Pandologic AI-driven programmatic recruiting solution) acquired Broadbean, a legacy recruiting technology provider. Intrigued by the depth and breadth of data this might offer to train the Veritone AI solutions under the hood.
Appcast, a leader in programmatic recruiting technology, acquired Bayard Advertising.
Hirevue acquired Modern Hire, an HR Tech Award-winning provider of video interview and hiring assessment solutions for enterprise employers.
Fountain, a high-volume hiring and onboarding solution, acquired Clevy.
Talent Management and Employee Experience
Engagedly, an HR Tech Award-winning company, acquired theEMPLOYEEapp for enabling client communications with frontline workers.
Neobrain, a global skills insights and intelligence provider, acquired Flashbrand to establish a US presence and bring its popular technology to North America.
Mitratech, an HR Tech Award-winning company and leader in employer compliance solutions, acquired Trakstar (talent acquisition and development) and Circa (DEI and OFCCP compliance).
Simpplr, an internal communication and work hub, acquired Socrates.ai, one of the industry’s most compelling intelligent chatbot solutions for employee experience and navigation, to increase the ease of which employees find, access, and act on information.
Edenred acquired Reward Gateway, a rewards and recognition provider.
Perceptyx acquired Humu, the “intelligent nudges” company made famous by its founder, former Google HR leader Lazlo Bock. Intrigued to see this functionality in the Perceptyx ecosystem.
Peoplelogic, an HR Tech Award-winning firm, picked up Plai to enhance its features across performance management and the overall employee experience.
Core HR/HCM/Compensation
Salary.com, an HR Tech Award-winning company, acquired CompXL to scale its enterprise compensation management functionality across merit increases, bonus allocations, and other rewards.
Paycor, an HR Tech Award-winning SMB HR, payroll, and talent solution, acquired Verb for microlearning support.
ADP, a leader in payroll and HR solutions, acquired Sora, a low-code workflow automation tool.
Deltek, the global leader in payroll and finance solutions for government contractors, acquired Replicon, a workforce management system.
When I Work, an HR Tech Award-winning company for its workforce management solution, acquired Lean Financial to incorporate earned wage access into the solution.
UKG acquired Immedis, a global payroll solution, to enable more seamless payroll in countries around the world.
Learning and Talent Development
This year we’re unveiling our new Learning Tech Awards program to focus more deeply on the sophisticated and robust technologies supporting talent development, employee growth, and skills intelligence across the industry. If you operate in this space, you won’t want to miss it.
Docebo, a leader in the global LMS market, acquired Edugo.ai to increase its AI capabilities.
Go1, a leader in global learning content, acquired Blinkist and Anders Pink.
LMS365 acquired performance management solution Weekly10.
The Bottom Line
In spite of the continuing challenges from an economic perspective, 2024 is poised to have some interesting activity. Election years are always a bit unpredictable, and many new providers are emerging to tackle today’s most pressing talent and workforce challenges. Stay on top of the latest by following our ongoing research and insights across the HR technology market.
Curious what we do at Lighthouse?
We work with employers by providing research and advisory services around 1) the complicated HR technology landscape, 2) the talent trends and practices that matter most to the modern workforce, and 3) executive presentations to internal teams on how the market is changing in their industry or demographic.
We work with solution providers and vendors that want to sell more product and serve more customers. We use a combination of advisory, industry insights, market intelligence, and custom research to support our partners.
HR Tech Awards opens for submissions on January 3rd: learn about benefits of participation
Ben Eubanks
Ben Eubanks is the Chief Research Officer at Lighthouse Research & Advisory. He is an author, speaker, and researcher with a passion for telling stories and making complex topics easy to understand.
His latest book Talent Scarcity answers the question every business leader has asked in recent years: “Where are all the people, and how do we get them back to work?” It shares practical and strategic recruiting and retention ideas and case studies for every employer.
His first book, Artificial Intelligence for HR, is the world’s most-cited resource on AI applications for hiring, development, and employee experience.
Ben has more than 10 years of experience both as an HR/recruiting executive as well as a researcher on workplace topics. His work is practical, relevant, and valued by practitioners from F100 firms to SMB organizations across the globe.
He has spoken to tens of thousands of HR professionals across the globe and enjoys sharing about technology, talent practices, and more. His speaking credits include the SHRM Annual Conference, Seminarium International, PeopleMatters Dubai and India, and over 100 other notable events.
Contact Ben
资讯
2024年01月05日
资讯
Sterling Acquires Vault Workforce Screening: Offering Market Leading Clinical SolutionsSterling, a talent optimization platform has recently acquired Vault Workforce Screening, renowned for building reliable screening solutions for employers. The acquisition strengthens the capabilities of Sterling to offer more clinical solutions that healthcare organizations need.
Extensive Clinical Network and Flexible Service Model to Meet Hiring Demands in Healthcare and Other Regulated Industries
INDEPENDENCE, OH, Jan. 2, 2024 Sterling Check Corp. (NASDAQ: STER) (“Sterling”), a leading global provider of background screening and identity services, today announced that it has acquired Vault Workforce Screening (“Vault”), a leading U.S. clinic management platform. The acquisition brings a network of 17,000 clinics and a flexible service model to enhance Sterling’s existing drug and health services. This will enable Sterling to deliver additional market leading screening solutions for employers in healthcare, transportation, and other regulated industries where staffing challenges are most acute, decreasing time-to-hire and improving employee retention.
As part of Sterling’s strategy to in-source key components of its supply chain, the acquisition of Vault will accelerate and strengthen Sterling’s financial model and revenue growth. Vault’s proprietary service model, including Medical Review Officer (MRO) services and emergency/after-hours scheduling, will bring increased flexibility and control over delivery of drug and clinical services. This will enhance Sterling’s suite of pre- and post-employment drug and health solutions, benefiting both Sterling and Vault clients.
“The acquisition of Vault extends Sterling’s drug and health testing capabilities with a broader range of clinical options, delivery channels, and service models,” says Josh Peirez, Chief Executive Officer of Sterling. “This acquisition builds scale within the attractive healthcare and industrials verticals, enabling Sterling to better meet hiring demands and drive growth, consistent with our long-term strategy to expand through organic revenue growth and strategic M&A. We are also particularly pleased to acquire a strategic asset at an acquisition multiple in line with our typical tuck-in M&A range.”
The acquisition is expected to contribute $40 to 50 million of annualized revenue to Sterling and be accretive to Sterling’s Adjusted EPS in 2024. Sterling expects to realize significant financial synergies related to vendor consolidation and pricing optimization, enhanced fulfillment capabilities, and operational efficiencies.
“This sale allows Vault and Sterling to combine the very best service and delivery of occupational health tests and exams with the broadest possible menu of employment screening products,” said Claire Cochrane, Vault Health, Inc. Co-founder. “Sterling is a great fit for Vault as the business continues its rapid growth, offering Vault’s clients the most comprehensive background and identity products and expanding Vault’s service area to address an expanding global marketplace.”
Vault’s expert management team and employees will transition to Sterling as the integration process moves forward and build upon the company’s proven model of providing deep market expertise and unrivaled client service.
About Sterling:
Sterling (NASDAQ: STER) is a leading global provider of background and identity services, helping over 50,000 clients create people-first cultures built on a foundation of trust and safety. Sterling’s tech-enabled services help organizations across all industries and regions establish great environments for their workers, partners, and customers. With operations in North America, Europe, the Middle East, Asia Pacific, and Latin America, Sterling conducted more than 110 million searches in the twelve months ending December 31, 2022. Visit us at www.sterlingcheck.com.
SOURCE Sterling
资讯
2024年01月05日
资讯
Josh Bersin:2024: The Year That Changes Business Forever (Podcast)The podcast "2024: The Year That Changes Business Forever" by Josh Bersin explores anticipated transformations in business by 2024. It highlights the impact of AI, labor shortages, and evolving organizational structures. The podcast delves into the 2023 economic performance, changes in employee engagement, and the necessity for businesses to adapt strategically. It emphasizes a shift towards dynamic, flatter organizations and the critical role of systemic HR practices in shaping future business landscapes.
Josh Bersin探讨了2024年企业预期的转型。这些转型由AI的应用、劳动力短缺和组织结构的变化驱动。播客讨论了2023年的经济表现、员工参与度的变化以及企业为应对未来挑战所需的适应策略。它强调了向动态、扁平化组织的转变和系统性人力资源实践在塑造未来商业环境中的重要作用。
In this podcast I recap 2023 and discuss the big stories for 2024, and to me this year is a tipping point that changes business forever. Why do I say this? Because we’re entering a world of labor shortages, redesign of our companies, and business transformation driven by AI. We’ll look back on 2024 and realize it was a very pivotal year.
(Note: In mid-January we’re going to be publishing our detailed predictions report. This article is an edited transcript of this week’s podcast, so it reads like a conversation.)
Podcast Begins:
Interestingly, the entire year 2023 people were worried about a recession and it didn’t happen. In fact, economically and financially, we had a very strong year. Inflation in the United States and around the world went down. We did have to suffer rising interest rates, and that was a shock, but it was long overdue.
I really think the problem we experienced is we had low interest rates for far too long, encouraging speculative investment. Now that the economy is more rational, consumer demand is high, the business environment is solid, and the stock market is performing well. The Nasdaq is almost at an all time high, the seven super stocks did extremely well: the big tech companies, the big retailers, the oil companies, many of the consumer luxury goods companies did extremely well. And the only companies that didn’t do well were the companies that couldn’t make it through the transformation that’s going on.
On the cultural front we had the Supreme Court overturning affirmative action in education, which led to a political backlash on diversity and inclusion. The woke mind virus by Elon Musk and similar discussions further pushed back DEI programs, which has made chief diversity officers life difficult. We’re living through two wars, which have been very significant for many companies. I know a lot of you have closed down operations in Russia, and anybody doing business in Israel is having a tough time. And we’ve had this continuous period where every piece of data about employee engagement shows that employees are burned out, tired, stressed. They feel that they’re overworked.
Despite this employee sentiment, wages went up by over 5% and people who changed jobs saw raise wages of 8% or more. The unemployment rate is very low so there are a lot of jobs. You could ask yourself, why are people stressed?
I think it’s a continued overhang of the pandemic: the remote work challenges, the complexities and inconsistencies in hybrid work. And something else: the younger part of the workforce, those who are going to be living a lot longer than people who are baby boomers, are basically saying I don’t really want to kill myself just to get ahead. I want to have a life. I want to quietly quit. If my company don’t take care of me, I’m going to work my wage, meaning I’m going to work as hard as I’m paid, no more than that. And that mentality has created an environment for the four-day work week, which I think is coming quicker than you realize. And unions, which are politically in favor, are rising at an all time increase in about 25, 30 years.
Inflation and the need to raise wages to attract talent leads to pay equity problems. This domain is more complex than you think. You can read about it in our research and in 2024 it belongs on your list. 2024 will also see enormous demand for career reinvention, career development, growth programs, coaching, mentorship, allyship and support amongst the younger part of the workforce. And that means that if you’re in retail, healthcare, hospitality, or one of the other industries that hires younger people you have to accommodate this tremendous demand for benefits. These are things that became very clear in 2023.
But let’s talk about the elephant in the room: the biggest thing that happened in 2023 was AI.
AI has transformed the conversations we have about everything from media to publishing to HR technology to recruiting to employee development to employee experience. As you probably know, I’m very high on AI. I think it’s going to have a huge transformational effect on our companies, our jobs, our careers, and our personal lives. AI will improve our health, our ability to learn, the way we consume news (note that the NYT just sued OpenAI and Microsoft for copyright infringement). Almost every part of our life will be transformed by AI.
I know from our conversations that most of you are trying to understand it and see where it fits. And many of you have been told by your CEO, “we need an AI strategy for the company as well as in HR.” And the AI strategy in HR is one thing, but the bigger topic is the rest of the company. So HR is going to have to be a part of this transformation: the new roles, jobs, rewards, and skills we need.
This year I’m very excited that we introduced Galileo™, which about 500 or so of you have been using. We’re going to launch the corporate version for everybody in the corporate membership in February, so corporate members stay tuned (or join). Galileo brings AI to HR in an easy-to-use, safe, and high-value way, so it will help you get your strategy together. It’s basically ready to go. Then later in the year we’ll launch a version to the JBA community and more. AI, despite all the fear-mongering, is already a very positive technology.
Where are we going next? Well as the title of this article states, I think this is the year that changes business forever. And I’m not trying to be hyperbolic, I really see a tipping point. Let me give you the story.
For about a decade I’ve been writing about the flattening of organizations, breaking down of hierarchies, creating what I used to call the networked organization. And this is now mainstream and we’ve decided to call it the Dynamic Organization.
And what we mean by this, as you read about in the Dynamic Organization research or in the Post-Industrial Age study, is that the functional hierarchies of jobs, careers, organizations and companies are being broken down for really good reasons.
The reason we have functional hierarchies, job levels and siloed business functions is because they’re patterned after the industrial age when companies made money by selling products and services at scale. The automobile industry, the oil and gas industry, the manufacturing industries, the CPG industries, even the pharmaceutical companies are essentially building things, bringing them to market, launching them, selling them, and distributing them in a linear chain. And that “scalable industrial business model” is how we designed our organizations.
So we built large organizations for R&D, large organizations for product management and product design and packaging, large organizations for marketing, large organizations for sales, large organizations for business development and distribution, supply chain, and so on (including Finance and HR). And all these ten or fifteen business functions had their own hierarchies. So you, as an employee, worked your way up those hierarchies. When I graduated from college in 1978 as an engineer, I went into one of those hierarchies.
For each employee you were an engineer, a salesperson, a marketing manager, or whatever and you worked your way up the pyramid. And at some point in your career you crossed over and did other things, but that was fairly unusual. That wasn’t really the career path. You worked about 35-40 years in that profession and then you retired.
And a lot of companies had another construct: management and labor. Management decided “what to do” and labor “did it.”
And all of these designs helped us build most of the HR practices we use today, including hiring, pay, performance management, succession, career management, goal setting, leadership development, and on and on. Today, if you look at how the most valued companies in the world, they don’t operate this way any more. Why? Because it slows them down like molasses. If you have to traverse a functional hierarchy to come up with a new idea it takes months or years to create something new.
Today value is created through innovation, time to market, closeness to customers, and unique and high-value offerings. The “hierarchy” wasn’t designed for this at all.
Here are a few dogmas to consider. We used to think that all new ideas come out of R&D. That’s crazy. Of course R&D is important, but some of the most innovative companies in the world don’t even have R&D departments, they have product teams. The Research Department at Microsoft didn’t even invent AI, the company had to partner with OpenAI, a company that has less than a thousand employees.
Here’s another one to consider. Deloitte consultants used to talk about “innovation at the edge,” otherwise known as “skunk works.” We used to advise clients to “separate the new ideas from the scale business” so they new ideas don’t get crushed or ignored. Well today all the new ideas come from the operating businesses, and we iterate in a real-time way. So there’s another industrial organization structure that just no longer applies.
So what we’ve been going through in the dynamic organization, and we’ve studied this in detail, is that we’ve got to design our companies to be flatter. We’ve got to simplify the job titles and descriptions so people can move around. We have to organize people into cross functional teams, we have to motivate and train people to work across the functional silos. We have to build agile working groups, we have to redo performance management around teams and projects, not around individual goals and cascading goals. We need to build pay equity into the system so you’re paid fairly regardless of where you started.
Let’s talk about pay. One of the problems with the hierarchy is you get a raise every year based on your performance appraisal. And after a few years your pay may have been quite a bit different than somebody sitting next to you simply because of your appraisals. But you may not be delivering any more than them. That wasn’t fair.
If you came into the company with a background in marketing, you made less money than somebody who came into the company with a background in engineering. But five years later you might be doing the same stuff but making different amounts of money. And then there’s gender bias, age bias, and other non-performance factors. In a “skills meritocracy,” as we call it, pay equity has to get fixed.
We’ve got to have developmental careers and talent marketplaces and open job opportunities and mentoring for people. And these people practices are the facilitation of becoming more dynamic. And the problem of not being dynamic is what happened at Salesforce, Meta, and other tech companies last year. Salesforce hired thousands of salespeople during the last upcycle after the pandemic, and then a year later laid most of them off. Meta did the same thing. Google’s probably next.
These companies, operating in the industrial mindset, thought that the only way to grow is to hire more salespeople, more engineers, or more marketing folks. But the quantity of people in one of these business functions doesn’t necessarily drive growth and profitability. What matters is how they work together and what they do, not how many of them there are.
This old idea that we’re going to grow the company by hiring, hiring, hiring is gone. It doesn’t work anymore. It’s still a part of the growth part of the company, you’re always hiring to replace people, to bring new skills, et cetera, and to bring new perspectives. But in a dynamic organization, a lot of the growth comes from within. People grow too.
Even the word growth mindset has become overused. We need to have an organizational growth mindset so that we can grow as an organization. A great example of this is Intel. Intel lost their way in the manufacturing of semiconductors and also in the R&D. Now they’re reinventing themselves internally and their stock is skyrocketing. They didn’t hire some guru to tell them what to do, they know what to do. They just need to get around to doing it.
Google has more AI engineers than OpenAI, Anthropic, and all the other little guys put together, but they didn’t execute well. Now they’re executing better. They brought their AI teams together into cross-functional groups and they’re sharing IP from YouTube with other business areas. I bet they stomp many of the others in AI once they get it going. That’s part of being a dynamic organization.
You as HR people know better than anybody how dysfunctional it is when there are multiple groups in the company doing competing things and they’re not working together because they don’t know about each other, or they don’t talk to each other. There’s no cross fertilization or they’re protecting their turf. All of these are the things that get in the way of being a dynamic organization.
And the reason it’s relevant in the next year is this has taken hold. Things like talent marketplaces and career pathways and skills-based organizations, skills based hiring, skills based pay, skills based careers, skills based development, et cetera… these are not just HR fads, they’re solutions to this big shift: making companies more dynamic. Despite their value in the past, hierarchical stove-piped companies don’t operate very well anymore.
Now this isn’t an A-B switch type of thing. This is an evolution, but it’s taking place very quickly. And the reason we came up with this concept of Systemic HR is we in HR have to do the same thing. The HR function itself operates in silos. We’ve got the recruiting group, the DEI group, the Comp group, the L&D group, the business partners, the group that does compliance, the group that worries about wellbeing. We’ve got somebody over here is doing an EX project, somebody over there is doing a data management project, a people analytics group.
Okay. Those are all great functional areas that belong in HR. But if they’re not working together on the problems that the company has, and I mean the big problems, growth, profitability, productivity, M&A, etc., then who cares? Then you’re at level one or level two in systemic HR. We built the Systemic HR initiative around business problems. And that’s how we came up with the new HR operating model (read more details here or view the video overview).
I think Systemic HR will be a very big deal for 2024, and there are many reasons. Not only are we living in a labor shortage but there’s another accelerant, and that is AI. For those of you that have used Galileo, and I hope you all get a chance to use it this year, it’s absolutely unbelievable how AI can pull together information, data, text from many sources in the company and make sense of what your company is doing.
You know as well as I do, if you’ve worked in sales, if you’ve worked in marketing, if you worked in finance, these are siloed groups. Few companies have a truly integrated data management system for all of their customer data match to their sales, data match to their revenue, data match to their marketing. Customer data platforms are a idea, but it doesn’t really happen very often, and it takes tens to hundreds of millions of dollars and many, many systems to do that. Well, AI does this almost automatically.
So when you pull together a tool like Galileo, and you use our research as part of the corpus, and you add data about employee turnover, for example, in your company, or pay variations, you’ll see the relationship between pay and turnover just by asking a question. You don’t have to go spend months doing an analysis and trying to figure out if the analysis is any good. And that’s happening all over the company in sales and customer service and R&D and marketing – everywhere.
So this more integrated, dynamic organization is happening before your eyes. In 2024, this is the context for almost everything we’re going to be working on now.
The other context is the labor market, which is going to be very tough. You’ve read about from us and others about how tight the labor market is now. Unemployment in the United States is 3.8%, and it’s not going to get much better. Even if we do have a recession, which is questionable, there aren’t enough people to hire. The fertility rate is low, and even if every company gives employees fertility benefits and they all have babies, it will take twenty years for these people to go to work. So all of the developed countries: US, UK, Canada, Germany, Japan, the Nordics, China, Russia, the fertility rate has been low for a long time. The World Bank sees working population shrinking within ten years in almost every developed economy.
Since hiring is going to get harder and we’ll see fewer and fewer working people, companies have to be much more integrated in hiring. And we all have to look the Four R’s: Recruit, Retain, Reskill, Redesign. This puts HR in the middle of a lot of job redesign, career reinvention, and a serious look at developing skills, not hiring skills, and using the tools we have as hr professionals to help the organization improve productivity without just hiring and hiring and hiring.
I measure the success of companies by two things. One is their endurance: how well have they fared over ups and downs? The second is their revenue per employee. Companies with low revenues per employee tend to be poorly managed companies relative to their peers. Of course there’s a lot of industry differences.
When we went through our GWI industry work: healthcare, consumer goods, pharma, banking, we could see the high performing companies were very efficient on a headcount basis. And we found out these companies are actually implementing Systemic HR practices.
The other driver that we’re living in a service economy. Interestingly enough, in the United States, more than 70% of our GDP is now services. So the people you have, the humans in your company, are the product. And if you’re not getting good output per dollar of revenue per human, you’re not running the company very well.
And this leads to many management topics.
How are we going to build early and mid-level leaders?
How can we rethink what employees really need? The topics of employee engagement and employee experience are really 25 to 30 years old. They need a massive update.
How are we going to implement AI in L&D and replace a lot of these old systems that everybody kind of hates, but we’re stuck with?
What’s going on with the ERP vendors and what role will they play as we replace our HR tech with AI powered systems?
How will we implement scalable talent intelligence? In a world of labor shortages talent intelligence becomes even more important, whether you think of it for sourcing and recruiting or an internal mobility or just a strategic planning initiative.
How do we all get comfortable with AI?
And then there’s this issue of Systemic HR and developing your team, your function, your operating model to be more adaptive and more dynamic.
So I look back on 2023 I feel it was one of the most fascinating and fun and enriching years that I’ve had. I am always amazed and impressed and energized by you, by you guys who were out there on the firing lines, dealing with these complex issues and companies with old technologies and all sorts of changes going on and how you’re adapting. I continue to be more impressed and more excited about the HR profession every year. I think a lot of people who aren’t in HR think we do a lot of compliance and administration stuff and we fire people. That is the tiniest part of what we do.
2024 is going to be an important year. You as an HR professional are going to have to learn a lot of things. You’re going to learn about Systemic HR issues, you’re going to learn about AI, and you’re going to learn to be a consultant.
There’s no question in my mind that over the next decade or two dynamic organization management is going to become a bigger and bigger issue – how we manage people and companies. And I don’t mean manage like supervise, I mean develop, move, retain, pay, et cetera, culture, all of those things.
I leave 2023 very energized about what’s to come with AI. And if you’re afraid of AI, just take a deep breath and relax. It’s not going to bite you. There’s nothing evil here. It’s a data driven system. If you don’t have your data act together, you’re not going to get a lot of good value out of AI.
I talked to Donna Morris at Walmart last week; I talked to Nickle LaMoreaux at IBM; and I talked with the senior HR leaders at Microsoft. They’re all seeing huge returns on investment from the early implementations, and seeing hundreds of use cases. We’re going to have a lot of new tools and lots of vendor shakeout. (Check out what SAP is up to and where Workday is going.)
Stay tuned for our big Predictions report coming out in mid January. That report is my chance to give you some deep perspectives on where I think things are going, recap things that have happened over the last couple of years, and give you some perspectives for the year ahead.
As always we would be more than happy to walk through these things with your team.
I hope you have a really nice holiday season and you take a deep breath.
The world is never perfect. It’s never been perfect. It wasn’t perfect in the past. It won’t be perfect in the future.
But the environment you live in and the environment that you create can be enriching, enjoyable, productive, and healthy, and fun if you decide. And I think we all have the opportunity to make those decisions.
It has been a pleasure and an honor for me to serve and work with you this last year, and I’m really looking forward to an amazing 2024 together.
–END OF PODCAST–
Irresistible: The Seven Secrets of the World’s Most Enduring, Employee-Focused Organizations
资讯
资讯
资讯
资讯
资讯
资讯
资讯
资讯
资讯
资讯
扫一扫
添加客服
