Number of the Week: 1.5M
In a survey of 500 U.S. employers, 94% of respondents say they expect to shift to a remote and hybrid work policy, which could mean that 1.5 million businesses will adopt remote and hybrid work in the coming year. HR services provider Omnipresent, in a partnership with market researcher YouGov, also found that 26% of respondents plan to consult their HR teams about the change, while 50% will consult board members and leadership teams. And compliance doesn’t seem to be a factor as just 12% and 11% of respondents express concern about compliance issues and about providing local benefits, respectively.
New Deals
Scheduling platform provider Calendly has acquired Prelude, a recruiting operations platform. With this deal, Calendly says it will allow recruiting teams and hiring leaders to optimize scheduling for interviewers and candidates. “This acquisition presents a tremendous market opportunity with the amount of interactions and experiences modern companies have with their potential hires,“ says Will Laufer, founder and CEO of Prelude in a press statement.
New Products
Oracle NetSuite unveiled SuitePeople, a series of tools designed to control labor costs and profitability. The solution aims to automate routine tasks like scheduling staff, tracking employee hours worked and calculating wages, and it provides recommendations related to these tasks. “Organizations can quickly adjust staffing to align with changing business conditions. They can also ensure they accurately pay their employees and meet compliance requirements,” said Evan Goldberg, founder and EVP, Oracle NetSuite, in a press statement.
Talent acquisition solution provider Turn has added Cue Advice to provide marketing and sourcing tools to its TA suite. Companies spent close to $18.7B to hire 15.6 million hourly workers between October and December 2021, per a Turn press release. “Talent acquisition companies and teams are spending too much time, money and effort trying to fill your recruitment funnel,” said Rahier Rahman, founder and CEO of Turn, which uses AI to help recruiters reach their goals in a tight job market. “That’s why we builtCue Advice, the AI tool that knows exactly why your hourly jobs aren’t filling fast enough and how to fix it,” he added.
Funding News
Mobile recruiting and onboarding provider Workstream raised $60 million in fundraising to reach $108M to expand into new industries and pursue new clients. The technology provider counts Burger King, Dairy Queen, Jimmy John’s, Marriott, Ace Hardware and UPS as clients. “We’ve reduced our application-to-hire timeline down to about three days, which is fantastic for us,” said Amy Parman, director of training & recruiting at Taziki’s Mediterranean Cafe in a press statement. “We saw a high this year of a 71% show rate for interviews.”
Employee Cycle closed its $2.5M seed round to add new staff and improve its technology for its automated HR reporting process solution. The vendor provides an HR analytics dashboard for small and medium-sized businesses and plans to grow its sales, marketing and engineering departments. “We always hear that employees are a company’s greatest asset, but with most organizations having employee data spread across multiple HR systems, they end up knowing very little about the people who work for them,” said Employee Cycle CEO Bruce Marable in a press statement. “We’re empowering companies to transform their disconnected employee data into centralized workforce insights, to make smarter and more data-driven workforce decisions.”
Related: Bersin: Skills and talent intel dominate the HR tech market
Food benefits company Sharebite closed its $39 million Series B financing round to develop and launch new products for workplaces intent on employees returning to the office. Sharebite claims that clients are seeing up to a 6x increase in office attendance in part by offering free food. The company—which counts Barclays, Activision Blizzard, WeWork and Harry’s as clients—also supports meal donations to food-insecure families via Sharebite’s non-profit partners, including City Harvest and Feeding America. “Since day one, our technology was purpose-built for companies as an enabling mechanism for maximum employee engagement,” says Dilip Rao, CEO and co-founder of Sharebite.
People Moves
HR credentialing and learning organization HRCI announced the addition of Dr. Janet L. Walsh to its board of directors. Walsh is president and CEO of Birchtree Global, a workforce training and research consultancy with clients in all 50 states and 81 countries. She also served in top HR roles at Minerals Technologies, Mead Corp. and financial services entity S.W.I.F.T. “We are thrilled to welcome Janet to our Board of Directors. She brings a deep knowledge of human resources combined with global expertise that aligns directly with the HRCI mission,” said board chair China Gorman. “Her record of achievement and extensive board service complements HRCI’s values and enhances our strategic vision.”
Related: Stay up to date on HR Tech People Moves here.
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