Our weekly roundup of deals, product announcements and other HR technology news.
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Workday announced a $250 million expansion of its Workday Ventures fund. The company is expanding the fund to focus on larger growth areas, including emerging technologies like generative AI. The fund will also reinforce Workday’s strategic focus on machine learning, intelligent automation and serving target markets. Workday said the goal is “embracing innovations that unlock human potential in the changing world of work.”
Paycor released its COR Leadership Dashboard. The new offering provides people leaders with actionable data based on scores evaluating leadership effectiveness to drive engagement and maximize performance. The dashboard surfaces real-time insights on relevant employee data trends and evaluates leadership effectiveness. Results are put through native natural language processing and sentiment analysis engines to quickly categorize unstructured feedback by theme and positive/negative sentiment.
More than half of HR leaders surveyed are on board for the four-day work week, according to the 2023 Engagement and Retention Report from Achievers Workforce Institute (AWI). Fifty-one percent of HR leaders surveyed either had already implemented a four-day work week (9%) or were considering it (42%). AWI Chief Workforce Scientist Dr. Natalie Baumgartner said, “Work flexibility has become incredibly important to employees in the last few years. For the first time in the six years that we have been doing this research, work flexibility is the number one reason to job hunt in 2023, equal with career progression.”
Sequoia launched Comp Management on the Sequoia People Platform to help employers manage their end-to-end compensation processes and comply with new laws requiring the disclosure of pay scales to current and prospective employees. The Comp Management System will help bring together fragmented employee data to help employers establish job leveling, manage pay ranges with real-time market data, and properly communicate these ranges to current and prospective employees.
myInterview secured closed an $11 million Series A funding round. The investment will allow myInterview to expand its product offering to help better attract and engage talent at scale. The round was led by the company’s existing investors Aleph and Entrée Capital, along with new investor Jesselson Capital. It included participation from SeedIL Ventures, Digital Horizon and Ocean Azul Partners.
Recruit Rooster, a provider of talent acquisition technology and solutions, announced a suite of new recruitment tools. The products include text engagement, marketing automation and talent profiles, as well as an analytics dashboard for data and insights.
HR Path added Terra Information Group (TIG), which helps streamline HR business processes, to its organization. TIG specializes in SAP and SuccessFactors solutions for businesses in the U.S. and provides end-to-end solutions for customers including installation, support and consulting services.
Last Week’s Top Stories
New AI Apps Loom Over HR Technology
Microsoft is incorporating technology from AI lab OpenAI into its Bing search engine, a move that’s widely expected to reenergize the company’s search competition with Google. Ready for the battle – or at least acting like it is – Google plans to soon detail a new approach to search that allows its solutions to respond to complex queries with results that are more direct and detailed. Read More.
Employers Face Challenge Balancing Remote Work, Productivity
For years, businesses have tried to glean insight into the performance and productivity of their employees, whether through employee monitoring, tracking, data collection, evaluations or some other method. Meanwhile, some believe that the challenges they see are not an issue of productivity, but rather of engagement. Read More.
Business Leaders Fail to Take Ownership of DEI Efforts
More than half of diversity, equity and inclusion leaders — 51% of them — say the greatest hurdle they face lies in executives failing to take ownership of driving DEI outcomes. According to Gartner, additional challenges include limited power to drive decisions, ineffective coordination of DEI efforts across business units, limited DEI staff and employee resistance to DEI changes. Read More.
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