isolved added new capabilities to People Cloud with an eye toward helping customers take advantage of AI. Specifically, the company wants to provide tools to help better manage the workforce, more closely connect HR leaders to overall business strategy and streamline HR operations.
At last week’s isolved Connect conference, the company highlighted:
- isolved Analytics Everywhere, which embeds AI-powered predictive and prescriptive analytics into the flow of work.
- Candidate and job matching features that simplify and speed up resume parsing and job matching, and also auto-creates job descriptions.
- New learning experiences that support skills development and workforce readiness with adaptive learning, course recommendations, feedback and dynamic assessment.
In their roadmap presentation, Vice President of Solutions, Product and Marketing Strategy Geoff Webb and Vice President of Product Management Kelli Rico said isolved wants to extend the power of People Cloud, add intelligence across the platform and make the entire package easier to use.
Digging Out from Under
Running through many conversations at isolved Connect was the idea of streamlining HR’s workload. Each day, HR leaders spend between one and eight hours on repetitive tasks, the company said. That means HR teams are buried in day-to-day tasks while facing a workforce that’s less motivated, more burned out and more likely to explore their options than they’ve been in the past.
Indeed, the company’s most recent Voice of the Workforce study found that 58% of employees intend to explore their new-job options this year, up 11% from 2022.
Approximately two-thirds of the study’s respondents said salary was the primary factor motivating them to accept a new offer. That’s not surprising given the impact of inflation. Some 85% said inflation has affected their spending habits by causing them to save less (54%), dip into their savings (45%) or withdraw retirement funds (41%). More than half of full-time employees, 55%, said they live paycheck-to-paycheck. And half would like employers to offer some form of on-demand pay.
isolved has talked about analytics and improving workflows for some time. In August, the company released Compensation Analytics and Talent Intelligence solutions that provide access to information in the flow of work, drill down into compensation metrics in order to understand individual data points, and run predictive analytics related to compensation. Benchmark Insights, launched in July, provides data on salary, tenure and turnover using aggregate industry data from People Cloud and an AI engine.