Performance management platform Betterworks acquired Hyphen, a San Francisco-based company that provides tools for employee listening and engagement. Terms weren’t disclosed.
By combining its performance management solutions with Hyphen’s listening capabilities, Betterworks said it’s melding business and HR processes that have traditionally been separate. The result will be “an integrated, data-driven continuous approach to both business and talent management.”
Betterworks believes the combination will improve its ability to provide insights about each customer’s workforce and help employers develop measurable goals for their employees..@Betterworks says its Hyphen acquisition combines processes to create an 'integrated, data-driven' approach to business, talent management. #HR #HRTech Click To Tweet
“With our acquisition of Hyphen, we complete the loop of measuring engagement, then executing on the right areas using objectives and key results, and then developing people with continuous conversations, feedback and recognition,” said Betterworks CEO Doug
Hyphen’s employees will join Betterworks and the product will be incorporated into its products as Betterworks Engage.
Employee Listening’s Role
The company plans to integrate Hyphen’s survey, polling and recommendation featuers into its enterprise offering as Betterworks Engage. Customers who use it will be able to continuously listen to employees from pre-hiring to retirement, and use what they hear to develop goals track improvement. Overall, Betterworks said, it aims to make its solutions “data-rich and process light.”
Betterworks has rolled out several enhancements since it secured Series B funding early last year. The most recent was January’s launch of Calibration and Feedback Summary, which are designed to increase visibility into employee performance and potential while simplifying the process for preparing and conducting calibration discussions.
In October it launched a new product home page to provide employees and managers with a clear view of next steps within the continuous performance process. At the same time, it introduced features meant to improve its usability and social tools.
The funding round, completed in March, secured $27 million. That brought the company’s total investment raised to more than $65 million.
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