What does this mean for HR leaders? According to Arnaud Grunwald, chief product officer at Betterworks, this expanded offering aims to bridge the gap between performance management and talent development.
While other LMS tools might sync with LinkedIn Learning content, Grunwald says that the new deal will bring LinkedIn’s upskilling and development tools directly into its performance software. This will allow both managers and employees to view the employee’s progress during a career development conversation.
“Better course completion rates mean a greater return on the investment in LinkedIn Learning,” he tells HRE. “Averages hover around 10%, but in a sample of our customers using a similar integration with Udemy, course completion rates are over 40%.”
“The tight integration between the two systems allows organizations to take a proactive and concerted approach to the performance management of employees,” Lee Womer, vice president of business development at LinkedIn, said in a news release.
Tying skills development to career growth demonstrates to employees that their employers and managers are dedicated to their overall development, says Grunwald. “Plenty of statistics show that over 90% of employees stay longer where there are opportunities for growth and development,” he says.
This new offering ultimately comes down to HR’s focus on employee career development by providing workers with vital skills to enhance their careers. “Skills gaps are widening and some employees aren’t able to keep up with technology or job requirements,” says Grunwald. “Instead of searching for a new job or fretting about being let go, employees can prioritize upskilling or reskilling by tying learning to goals.”
Acquisition
HR solution provider UKG has acquired Quorbit, a U.K.-based startup that specializes in long-term workforce planning for frontline and hourly employees. Quorbit aims to help large organizations make future workforce decisions via modeling, labor budgets and recruitment strategies. The start-up says it can forecast staffing needs years into the future while creating growth and learning opportunities for clients’ workers. “With more than half a billion dollars invested in R&D annually, UKG will fully integrate Quorbit into our intelligent suite and explore new opportunities for the operational insights created by Quorbit to inform operations, talent management, and employee development,” Hugo Sarrazin, UKG’s chief product and technology officer, said in a news release.
Funding
HR, benefits and payroll solution provider GoCo.io raised $15 million in a funding round in September, which brings its total recent investment to $27.5 million. This new funding will enable the company to enhance its HR technology and expand into the small to medium-sized market. “SMBs are facing significant challenges right now and GoCo has grown rapidly because we are able to not only meet but exceed HR departments’ needs and expectations,” said Nir Leibovich, GoCo CEO in a news release.
Incentive solution provider SparkPlug secured $8 million in fundraising to grow its platform for managing frontline retail workers. This round of funding brings the company’s total raised to $11.5 million. SparkPlug’s solution allows hourly workers to earn a portion of the revenue they generate when making recommendations to customers. Since the start of the pandemic, SparkPlug says it has experienced more than 2,300% revenue growth and now works with more than 1,000 US retailers and 200 brand partners. “Coming out of the pandemic, we’ve seen direct-to-consumer brands hit a major roadblock in expansion, and many leaders are coming to terms with the fact that a physical retail presence is necessary for the long-term health of a brand,” Jake Levin, COO and co-founder of SparkPlug, said in a news release.
People Moves
HR solution provider for small businesses Justworks announced that Michael Seckler will be its new president and chief executive officer and rejoin its board of directors. Isaac Oates, Justworks’ founder and chair of the board, will transition to the new role of executive chair of the board. Seckler has served as Justworks’ COO since 2019. As CEO, he will lead efforts on strategy, culture and the long-term direction of the company. “We are investing heavily to innovate faster and on multiple fronts so that Justworks becomes the obvious choice for even more small businesses,” said Seckler in a news release. “As Justworks’ new CEO, I am thrilled to have Isaac’s continued support and guidance. We have a lot to build and an exciting road ahead.”
The Benefit and HR Consulting division of insurance brokerage and risk management service provider Arthur J. Gallagher & Co. has named John Tournet as its new CEO, U.S. Regions. He started in the newly created role for the Illinois-based consultancy on Nov. 1. Tournet is a 23-year veteran in the employee benefits field and has worked at Gallagher for the last two decades. “John is known for using innovative solutions to solve problems, fostering a culture of mutual trust and appreciation and challenging the status quo in the spirit of continuous improvement,” William F. Ziebell, CEO of Gallagher’s Benefits and HR Consulting Division, said in a news release.
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