November 7, 2016 – Organizations everywhere are looking for better ways to recruit and retain good quality people to drive effectiveness, and performance, in their business. Analytic tools, it follows, continue to gain traction in the talent management world.
To this end, ManpowerGroup Solutions, part of ManpowerGroup, just recently formed a new partnership with PeopleTicker, a provider of real-time labor market rate data and analytics. Through this partnership, ManpowerGroup Solutions will leverage PeopleTicker’s ability to analyze and compare salary information with bill and pay rate data to provide market intelligence that improves benchmarking, enabling clients to achieve accelerated cost optimization across their entire workforce.
“We are continuously innovating and looking for new ways to leverage HR analytics to provide local market expertise on a global scale,” said Jamiel Saliba, vice president and general manager of TAPFIN Global, a ManpowerGroup Solutions’ Managed Service Provider. “PeopleTicker’s global data integrates seamlessly with our industry-leading market intelligence to not only accelerate cost savings but ensure our clients have access to the information they need to make better and more competitive decisions when pricing talent.”
“PeopleTicker is excited to partner with ManpowerGroup Solutions to provide independent labor market data and analysis for their programs across the globe,” said John Sculley, PeopleTicker chairman. “TAPFIN and ManpowerGroup Solutions have embraced new innovative strategies and are benefiting from the industry disruption that HR analytics provides. We look forward to providing meaningful insights and outcomes through this partnership.”
ManpowerGroup Solutions provides clients with outsourcing services related to HR functions, primarily in the areas of large-scale recruiting and workforce-intensive initiatives that are outcome-based. Its solutions offerings include TAPFIN-Managed Service Provider, strategic workforce consulting, talent solutions, talent based outsourcing and recruitment process outsourcing.
Investors Pour Money Into HR Analytics
Reflektive, an HR analytics and employee engagement platform, recently secured $13 million in series A funding led by Lightspeed Venture Partners. Reflektive is using the new funding to accelerate development of its platform, enhance customer success and hire across all departments to support its mission to revolutionize performance management.
“We have met with thousands of human resources executives who struggle with their outdated performance management processes and systems,” said Rajeev Behera, Reflektive co-founder and CEO. “Our technology has found a very strong product-market fit in helping companies transition to a modern and integrated performance management solution that optimizes employee performance, drives company alignment, and provides continuous talent development.”
Randstad Holding, a firm specializing in HR solutions, has led a seed financing in Focus Orange Technology through its Randstad Innovation Fund. The investment is centered around the development of Crunchr, Focus Orange’s analytics platform. Crunchr collects, validates and consolidates people data into meaningful insights around strategic workforce planning, succession, talent management and employee preferences.
“Crunchr fits Randstad’s objective to offer comprehensive total talent management solutions,” said Linda Galipeau, Randstad executive board member. “We have high expectations of Crunchr’s HR-analytics tool and of its potential to give our clients insights in their human capital and workforce planning.”
Analytic & Assessment Tools Gain Traction
Just recently, Marlin Hawk, a search firm that is making big investments in the sphere of candidate assessment analytics, is about to launch its new assessment tool, ATHENA, after a 12-month development cycle and positive client feedback from beta tests. ATHENA uses a potent blend of science and art to deconstruct a candidate’s DNA and identify their talent gene.
“Our tool is a hybrid, engineered from the best practice of numerous cognitive, behavioral and personality tools, combined with Marlin Hawk’s own extensive experience,” said Mark Oppenheimer, the firm’s New York-based chief commercial & innovation officer. “It peels back the layers to uncover a candidate’s deeper personality and tendencies, revealing how they are wired and what motivates them to succeed.”
London-based advisory firm ALC just launched a new assessment tool, ALC Insights, that some are saying could revolutionize the way talent assessment is delivered, and who delivers it. This latest assessment offering is designed to fill a knowledge gap in the hiring process and, once employed, according to ALC founding partner, Tim Connolly, in just a matter of hours it could provide a more complete and dynamic profile of any candidate being screened.
The new product will serve as a complimentary tool for heads of HR and talent acquisition leaders. But what makes it really unique is that this off-the-shelf assessment tool can be licensed by any search firm. That, its founder said, could level the playing field in this hotly contested new area of executive search and leadership solutions services.
Executive search firm Allen Austin just weeks ago partnered with ENGAGE, a sourcing intelligence platform that combines big data and predictive analytics to identify potential targets, to increase overall business intelligence, and enhance sourcing efficiency. The firm forged the alliance as it looked for productive technology to improve speed, execution and growth predictability, particularly one with advancements in analytics.
“Utilizing our proprietary process in combination with ENGAGE’s predictive analytics, we are potentially cutting our research and candidate development time by half,” said Rob Andrews, Allen Austin chairman and CEO. “These powerful analytics will enhance speed of execution and support our commitment of bringing our clients the best possible talent in the market, not just a suitable slate.”
Russell Reynolds Associates recently formed a partnership with Hogan Assessments, a global provider of personality assessment and leadership development. The alliance is designed to increase the success rate of executive appointments and accelerate the development of rising leaders. It combines Russell Reynolds’ expertise in advising senior executives and boards on executive search and succession planning with Hogan’s suite of assessment instruments, data assets and scientific acumen.
“The cost of betting on the wrong leader has never been higher,” said Clarke Murphy, chief executive officer of Russell Reynolds Associates. “That said, innovation in the executive assessment space has not kept pace with the rate of change confronting senior executives.”
“For decision-makers, ‘increasing predictability’ really means ‘reducing risk,’” he said. “The risk associated with executive selection and hiring has always been high. But, as executive roles have become more complex, the risk of making the wrong hiring decision has increased meaningfully.”
Options Group just recently named Debbie Freer as head of OGNext, the firm’s classified strategic initiative. OG iQ will provide solutions in culture assessments as well as competency assessment, metrics, identification of key talent, and benchmarking.
“Over the last decade, we have seen a transformation in the way high-performing companies attract and acquire talent,” said Josh Bersin, principal and founder at Bersin by Deloitte. “Recruiting is now a strategic business function that includes marketing, recruitment, assessment, analytics, and integrated process management, involving managers, recruiters and sourcers.”
Contributed by Dale M. Zupsansky, Managing Editor, Hunt Scanlon Media