Our weekly roundup of deals, product announcements and other HR technology news.
The global market for HR professional services will be worth $7.5 billion by 2025, representing a 12.4 percent CAGR, reports a study by Grand View Research. Driving the demand are the increasing needs for HR processes and the management of remote teams. The report said on-premise deployment will remain the most common delivery channel, growing by 9.7 percent during the period. However, hosted deployment will grow at a faster clip of 15.6 percent.
More evidence of a disconnect between employers and the workforce when it comes to AI. Randstad Sourceright’s 2019 Talent Trends report found that 81 percent of employers are excited about the opportunities presented by AI, while 44 percent of working professionals are concerned that advanced solutions will eliminate their jobs. Randstad Sourceright CEO Rebecca Henderson said the disconnects “presents an opportunity for employers to attract and retain talent by offering job training, upskilling and assuring them of job security.”In this week's #HRTech update: HR Services market keeps rising; Workforce still fears #AI. #HR #HRTribe Click To Tweet
SmartRecruiters raised $50 million in a Series D round led by repeat investor Insight Partners. Existing investors Mayfield Fund and Rembrandt Venture Partners are also participating. The company said it will use the funds to accelerate its product roadmap, expand in Europe and Asia, and hire about 100 people.
Oracle is laying off hundreds of employees in the U.S., according to media reports, and some employees worry that as much as 10 percent of the company’s workers could ultimately be let go. For now, the dismissals are centered on the company’s cloud teams and pose little apparent threat to Oracle HCM. During the company’s March conference call, CEO Mark Hurd said Oracle “an enormous opportunity” in its ERP and HCM businesses.
Small-business HR platform BerniePortal launched a searchable broker network to help customers access local workforce and benefits specialists. More than 100 local brokerage firms across the country have created profiles on the network so far, the company said.
Alegeus, which provides consumer-directed healthcare solutions, launched a “Smart HSA” that uses AI and machine learning to deliver more personalized and self-guided features. The product helps guide employers and brokers in creating plan designs and helps employees make better benefit choices, the company said. The should be on the market during 2020’s first quarter.
Assessment and training firm Core Strengths released its Talent Effectiveness Platform, an end-to-end solution that provides talent management and development professionals with tools designed to improve relationships, build better teams and coach for performance.
CareerBuilder appointed Sasha Yablonovsky as president. She joined the company in September 2018 as executive vice president of success, and the company emphasizd her experience customer experience and customer service in its announcement. In January, CareerBuilder acquired AI-based candidate-matching solution Textkernel and said it would apply its technology to candidate-facing products.
Executive search firm H.I. Executive Consulting announced a strategic partnership with Teamscope, an AI-driven talent analytics platform designed to help companies build effective leadership teams. HIEC said the partnership will allow it to deliver more data-driven hiring results for its corporate and private equity clients.
Green Circle Health has renamed itself Green Circle Life and launched new services to meet increased market demand for more comprehensive HR solutions. The company launched to help employers maximize benefits utilization, thus increasing engagement. Now it hopes to build engagement by addressing both work and personal-life concerns. “We have learned over the past several years that a narrow focus on health and wellness alone does not help employers maximize benefits utilization or attract and retain employees,” said Dinesh Sheth, the company’s founder and CEO.
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