Roundup: Employers Take Formal Approach to HR Technology

News Roundup

Our weekly roundup of deals, product announcements and other HR technology news.

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The great majority of employers, 85% of them, have a formal strategy governing their approach to HR technology or plan to implement one in the next year, according to a study by XpertHR. Almost 90% have deployed some form of technology to support HR, with the most common being an HR management/HRIS system, used by just more than 71% of organizations. At most companies, HR technology strategy was part of a wider HR strategy.

PlanSource launched its Nova software release, its first of 2021. Included updates focus on the company’s work to simplify the benefits experience and increase the use of automation, and includes the launch of PlanSourceIQ, a suite of AI add-ons designed hyper-personalize shopping experiences and increased HR efficiency. Two new products within the PlanSourceIQ family, DecisionIQ and DependentIQ, offer optimized decision support and eligibility verification solutions.

In this week's #HRTech Roundup: Employers pursue formal strategies to workforce technology; @PlanSource announces new release; and more. #HR Share on X

Staffbase and General Atlantic announced a strategic partnership, through which the investment firm will lead a $145 million financing round in the German start-up to help with international growth and strengthen its position in the employee engagement space. Staffbase has a global workforce of 450 employees in 11 locations, including London, New York, Vancouver, Amsterdam and Berlin. In March, the company merged with Bananatag, Canada’s leading provider of internal communications solutions.  

Learning platform provider Strivr and consulting firm DDI announced a partnership to help users sharpen their leadership skills. The partnership brings together DDI’s experience in leadership development with Strivr’s expertise in virtual reality-based learning. Through the partnership, companies will be able train their leaders in key skills through a combined immersive and peer discussion format. The first virtual reality scenarios the companies developed include resolving conflict and driving change.

ResumeSieve launched its candidate evaluation platform, The Sieve, and said it was offering extended benefits to early adopters. The company said its tools use AI to automate the evaluation of resumes and provide quick insights that would otherwise take recruiters a significant amount of time and effort.

401GO, which offers an automated 401(k) plan-setup process, announced multiple payroll integrations with companies including ADP, Paychex, iSolved, PayCor, Rippling and Kronos. 401GO plans to add another 8-12 integrations over the next three months. The company said its integrations allow for full automation of the day-to-day management of the 401(k) by reducing the time necessary for businesses need to invest in its plan to about an hour per year. 

Crosschq closed $13 million in Series A funding in a round led by Tiger Global Management, with participation from returning investors, GGV Capital, Bessemer Venture Partners, Slack Fund, SAP, Intersect Capital and Rocketship.VC.  The company will use the investment to enhance its analytics capabilities to track and measure quality of hire, and also to grow its artificial intelligence, go-to-market and development teams, expand partnerships and continue its efforts to encourage diversity in hiring practices.

Virtual recruiting service secured $9.5 million in Series A funding in a round led by GSR Ventures, with participation from Spider Capital, TSVC and select individual investors. As part of the round funding, Amer Akhtar, former Yahoo Small Business President and CEO of ADP China, joined the company as CEO.

Aclaimant, a workflow platform for safety and risk management, raised $15 million in a Series B round led by Next Coast Ventures. This brings the company’s total funds raised to over $20 million. The company said it will use the funding to boost product innovation, increase hiring, accelerate client acquisition and sales as well as marketing and partnership development. The company will also add risk management talent to grow and expand its in-house subject matter expertise.

Last Week’s Top Stories

Paycor’s New Career Management Module Helps Development Coaching

Paycor today launched Paycor Career Management, a module HR and business leaders can use to design and implement succession plans. Read more.

Employers, Vendors Mull Expanded Scope of Employee Experience

The Covid-19 pandemic has spurred businesses to think of the employee experience more holistically, as a dynamic that’s impacted not only by their managers, teammates and HR, but by how workers interact with departments across the organization and the very tools they use to get their jobs done. Read more.

PayScale, Payfactors Merge to Form Compensation Data Force

Compensation data companies PayScale and Payfactors have decided to stop competing and join forces. Their merger will form a company of 600 employees and some 10,000 customers, including half of the Fortune 500. Read more.

Podcast: Technology Frustrates Employee Experience

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