In the latest move to consolidate HR tech platforms, HCM giant Workday announced the acquisition of the talent platform HiredScore this week. The latter is a system “leading the way in advanced AI solutions for some of the world’s most expert talent acquisition teams,” according to a LinkedIn post from Kyle Lagunas, principal analyst at Aptitude Research.
Lagunas, who had practitioner experience with HiredScore during his time leading talent attraction for General Motors, expects this acquisition will serve as a “lightning rod for vendors” to examine their own products through the lens of partnership and competition.
Can tech satisfy the TA needs of HR leaders?
Athena Karp, founder and CEO of HiredScore, commented in a release: “We’ve only just begun to see the opportunities of what is possible with responsible AI in the workforce, and how organizations can use it more efficiently and effectively to deliver on HR transformation goals related to recruiting and employee experiences.”
In an Aptitude Research webinar this week, Lagunas noted that the acquisition of HiredScore supports Workday’s vision to “double down” on artificial intelligence. In a release, Carl Eschenbach, CEO of Workday, confirmed that HiredScore is the perfect complement to its product portfolio as it looks to “provide AI solutions that deliver real business value for our customers.”
Not only does talent acquisition seem to be an area ripe with innovation, but it’s also a sector that meets a need specified by many HR practitioners. In HRE’s recent What’s Keeping HR Up at Night? survey, readers indicated that talent was the biggest human resources challenge for their organization.
As HRE reported in January, nearly half of the surveyed respondents cited hiring and retaining key talent as their most pressing challenge, followed by improving company culture, and learning and development. When asked how they were spending their time, respondents flagged recruiting ahead of employee experience and leadership development.
A new era of talent acquisition innovation
There are likely more HR tech couplings to come—forecasts made by WorkTech, Gartner and other industry experts predict a continued uptick in 2024 HR tech merger and acquisition activities.
Lagunas seems to agree, calling the Workday/HiredScore the “biggest news since Oracle announced its acquisition of Taleo.” He touted this move as the kickoff to a “new era” of talent acquisition innovation.
Industry analyst Stacey Harris of Sapient Insights Group also took to social media to react similarly to the news: “It is only February; expect more acquisitions across the #HRTech spectrum this year.”
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