Roundup: New TA Products from Korn Ferry; HireVue Adds Assessments

HCM Technology Report News Roundup

A roundup of deals, product announcements and other news from the HCM technology community.

HCM Technology Report News RoundupKorn Ferry released two new talent acquisition products that its said augment key elements of the recruiting process, including best-in-class job profiles, one-click candidate sourcing, insights into talent supply, demand and compensation data, plus predictive candidate assessments. The products draw from a database of 4.9 million assessments plus engagement, reward and management data on more than 20 million professionals. The enterprise product leverages data from a company’s ATS and integrates with recruitment tools and technologies to improve sourcing capabilities, drive efficiencies and provides a holistic view of talent acquisition, the company said. The second product, Korn Ferry Direct, gives hiring managers at small to mid-size organizations access to TA tools similar to those used at larger companies.

Kronos added Even’s financial wellness app to its Workforce Dimensions Marketplace. Even’s technology integrates with attendance, payroll, and banking systems to create products that help employees tackle the core components of financial health, such as budgeting, saving and cashflow “with the ultimate goal of breaking the paycheck to paycheck cycle.”

HireVue added pre-built assessments to its HireVue Assessments platform. Delivered to candidates on demand, HireVue Pre-Built Assessments are tailored to specific job roles and competencies. It includes a combination of video questions, game-based challenges and, for technical job roles, coding challenges. The first models are designed to measure specific cognitive abilities and competencies for call center service representative, sales representatives, retail associates and software developers.

Arcoro acquired InfinityHR to join its existing Arcoro HCM platform companies of BirdDogHR and ExakTime. It’s the third HR software acquisition by Arcoro this year. “InfinityHR’s product suite is highly complementary to the current Arcoro product suite, and will further empower Arcoro’s customers with a highly integrated HCM solution with the breadth of capabilities they are looking for,” said Gopi Vaddi, managing director of Providence Strategic Growth Capital Partners, Arcoro’s backer. “Their strong core HR software solution, support structure and partner network reinforces our go-to market strategy.”

Skillsoft added its Technology and Developer content portfolio to Percipio, the company’s learning experience platform. The addition of Practice Labs, TestPreps and Ask a Mentor to Percipio multi-modal learning resources allows enterprise technology and software development professionals a way to watch, read, listen and now practice their skills in one place, the company said.

Espresa added a reimbursement allowances feature to its employee programs automation platform. The new feature will allow HR and benefits teams to more effectively manage reimbursement allowances with the aim of driving engagement across campuses and remote employees.

Paychex said total revenue for its first quarter was $862.8 million, a 9 percent increase from the same period in 2017. Net income and diluted earnings per share each increased 16 percent to $243.6 million and 67 cents per share, respectively. Adjusted net income and adjusted diluted EPS each increased 18 percent to $242 million and 67 cents per share, respectively. Separately, the company declared a regular quarterly dividend of $.56 per share, payable Nov. 15 to shareholders of record Nov. 1.

Pro-Flex introduced an employer dashboard and enhanced its mobile app. The Pro-Flex Employer Dashboard provides organizations with insights into their employees’ benefits use to give benefits team more insight into worker spending and saving habits. The Pro-Flex mobile app now sports a refreshed UI that includes features such an the Eligible Expense Scanner, which lets users scan a bar code to determine if a product qualifies as an approved medical expense.  The company described the new features as “a necessary addition in order to meet our increase in service demand and growth over the years.”

OneSource Virtual, a provider of Business Process as a Service, unveiled a robotic process-as-a-service (RPaaS) capability for HR and Finance. The products, which will be available in January 2019, will leverage a digital workforce to help organizations navigate a variety of business issues in HR and finance departments. Among the offerings are an RPaaS library solution for Workday HR and Finance that allows customers to consume only those digital assistants they need. “This service is well suited for customer repetitive tasks and those that have high business value either for cost avoidance or resource reduction,” OSV said.

PayActiv raised $20 million from Generation Partners in a Series B financing round. Generation Partners joined early round investors Ziegler Link•Age Fund II and affiliate funds of Softbank Capital. PayActiv develops financial wellness tools including bill pay, budgeting and savings tools, discounts, financial education, and instant funds availability options for immediate access to earned wages.

Scheduling app-provider When I Work is launching a new product, Hire, to serve small and medium-sized businesses that employ hourly workers. The service will be released in time for workplaces to use it as they compete for workers during the holiday hiring season. Hourly employers can use Hire to create and share job postings, manage candidate screening, and hire employees all in one place.

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