Paycor acquired Talenya, an AI-driven recruiting platform that automatically sources talent. The acquisition is Paycor’s first since 2015, and further develops its recruiting solution.
Paycor CEO Raul Villar, Jr., said the AI-powered technology will enhance his company’s existing products, making it easier for frontline leaders to find skilled and diverse talent.
Specifically, Paycor’s hope is to alleviate the pressure on companies that stems from increased competition and changes in the labor market. The company said with the acquisition, its customers will be able to reduce time to fill and source both active and passive candidates. For those pursuing a DEI strategy, the platform will highlight diverse candidates, which Paycor says are often overlooked by traditional recruiting systems.
Needham & Company analyst Scott Berg said he approved of the acquisition because it took advantage of two dominating in HCM today: more advanced recruiting tools and solutions that improve DEI efforts. He expects Talenya to be integrated as a separate module.
AI, Automation and Times-Savings, Oh My
Last year, Talenya launched its fully automated talent sourcing solution, Engagement AI. At the time, it said the product could save hours of work by automatically sourcing and contacting potential candidates, thus allowing recruiters to spend more time on connection and interviews. Talenya’s data scientists spent four years developing the GDPR-compliant technology, the company said.
Founded in 2017, Talenya is one of the more recent entries into the recruiting space. The firm said it will work closely with Paycor to integrate the companies’ capabilities. Paycor expects to begin offering an integrated solution in early 2023.
“Finding, interviewing, and hiring qualified candidates quickly is one of the biggest challenges facing our customers today,” said Paycor Chief Strategy Officer Swati Garodia. “Talenya’s virtual recruiter will enable our clients’ front-line leaders to attract, assess and hire top talent faster.
Paycor expects to begin offering an integrated solution in the first quarter of 2023.
In September, Paycor launched a mobile wallet for employees in partnership with Payactiv, an earned wage access provider. The new features are available for all existing users.