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The learning technology business is taking a more holistic approach to learning, offering more functionality from more vendors than it ever has before, according to RedThread Research. The researcher said Covid-19 and the remote-work environment actually allowed many employers to get more users up and running than they’d planned for last year, and predicts the remote-work dynamic will continue to impact learning ecosystems. The research found that the overall L&D market has grown, in terms of vendors, users, functionality and revenue. Also, company leaders are more likely to allocate budget toward employee development than they were two years ago.
Skillsoft’s learning platform Percipio now offers blended learning options. In addition to mentoring, live events and bootcamps, customers can administer their virtual instructor-led training and instructor-led training programs. This allows companies to provide a single “front door” for learners, making it easier to discover, register for and access learning content.Remote work forces rapid changes in learning technology. Two D&I businesses increase their investor backing. And more in this week's #HRTech news roundup. Click To Tweet
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 drove the timeline. One reason for that, it said, is that pay equity; increased representation of women and minorities in leadership ranks and workplace fairness have become table stakes for enterprise firms. The company’s flagship product, PayEQ, is used by more than 100 firms to analyze and resolve pay disparities across 2.3 million employees.
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
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 at least sometimes external partners, especially staffing agencies, to meet their goals.
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 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 reach $106.75 billion in 2023. That’s a CAGR of 7.13%.
Paycor said it’s received commitments for $270 million in new investment. The investors Neuberger Berman, Qatar Investment Authority, ClearBridge Investments and Franklin Templeton.
Paradox acquired Spetz.io, an Israeli messaging platform focused on candidate communications. Founded in 2017, Spetz conducts automated chat to handle tasks such as pre-screening and scheduling.
Last Week’s Top Stories
ADP Adds New Storyboards, Benchmarks to DataCloud
Among other things, customers now have the ability to benchmark their organization’s data against broader information that’s gathered anonymously from some 740,000 companies. Read more.
3 Fundamental Trends for HR Technology in 2021
We’ve all read about the spike in remote work, the growth of digital recruiting, and increasing adoption of electronic payroll and touchless technology. But some broader shifts are underway, as well, if only because employers and HR technology vendors are reconceptualizing some of work’s fundamental tenets. Read more.
Data Points to Remote Work, Employee Health as 2021 Concerns
Covid-19’s impact on the workplace is sure to be broad and deep as both employers and workers develop new attitudes toward safety. Read more.
Podcast: Fosway Group’s David Wilson on the Role of HR Tech ‘Ecosystems’
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