According to a recent article from the HCM Technology Report, several significant developments have occurred in the HR tech industry. In this weekly roundup, we will discuss and analyze these news items to provide you with an informative overview of the latest trends and updates in the field.
Firstly, ServiceNow has acquired ToolBox OH&S from Enable, a Fujitsu company based in Australia. ToolBox OH&S is a solution that helps companies minimize incidents and maintain compliance to create a safe workplace culture. This acquisition will enable ServiceNow to accelerate and scale existing health and safety solutions, improving safety management practices and streamlining incident response processes.
In another interesting study by Gartner, it was revealed that nearly half of candidates who initially accepted a job offer ended up leaving for another employer. The survey found that 47% of respondents were open to alternative job offers even after starting a new job, indicating that employee retention continues to be a challenge for organizations. Additionally, 42% believed they could find better opportunities if they kept looking.
Oyster has launched its Talent Network, which aims to help companies find remote candidates worldwide. This partner-driven solution connects organizations with talent platforms and provides personalized support for their candidate search and hiring process. With 20 platforms available on the network, companies can access a diverse pool of remote talent efficiently.
VirgilHR has introduced a chat-based tool designed to help employers distinguish between employees and independent contractors during onboarding. This product offers prescriptive guidance to ensure compliance with worker classification regulations, simplifying the process for employers.
CoachHub has launched its Innovation Lab, collaborating with EMCC Global on research regarding AI innovation in digital coaching. This initiative aims to improve human coaching practices by connecting learning and development needs with science-backed coaching initiatives.
Erudit, an AI-powered workforce insights platform, recently raised $10 million in Series A funding. Erudit analyzes internal data from tools like Google Workspace or Slack to provide real-time reports on the work environment. This helps companies understand which employees may be at risk of attrition, having a negative experience, or facing harassment.
GliderAI has released new AI skills-based recruiting software as part of its Skill Intelligence platform. The solution includes features like chatbots, skills assessments, proctoring, and interviewing to enhance the recruitment process.
Sapia.ai has made its AI Smart Interviewer available on the SAP Store. This integration enables SAP customers to select and evaluate talent using NLP-based conversational chat interviews.
Moreover to these developments, Workday has introduced AI capabilities to improve efficiency within its product suite. These new additions aim to boost productivity, optimize business processes, empower employees, and enable better decision-making. Workday has also launched the Workday AI Marketplace to help customers find and implement certified solutions from AI and ML partners.
Furthermore, a study by learning and engagement platform Kahoot found that 90% of Generation Z knowledge workers face social unrest or anxiety in the workplace. The survey revealed that 35% of Gen Z employees deal with social anxiety almost daily. This highlights the need for training programs that address mental health concerns in the workplace.
Lastly, an interesting report from Indeed suggests that while generative AI can perform tasks within specific jobs, it is unlikely to completely replace many occupations. The report indicates that only about 20% of jobs posted on Indeed are “highly exposed” to generative AI, emphasizing that AI technology augments rather than replaces human workers in most cases.
Ultimately, these recent developments in HR tech highlight various trends shaping the industry. From acquisitions and innovations to challenges related to employee retention and mental health concerns in the workplace, organizations must stay informed about these advancements to effectively navigate the evolving landscape of HR technology.