News: Workday strengthens talent solutions with acquisition of HiredScore


Workday strengthens talent solutions with acquisition of HiredScore

This strategic initiative will empower organisations to better meet their ever-evolving workforce needs," stated Carl Eschenbach, CEO of Workday, regarding the acquisition.
Workday strengthens talent solutions with acquisition of HiredScore

Workday, Inc, a provider of organisational management solutions for personnel and finances, has announced its acquisition of HiredScore, a provider of AI-driven talent orchestration solutions.

This strategic move will enable organisations to more effectively address their continuously evolving workforce requirements. "People are at the heart of every organisation, and investing in new and innovative ways to unlock the potential of talent is more important than ever," said Carl Eschenbach, CEO, Workday. 

"HiredScore is the perfect complement to our product portfolio as we look to provide AI solutions that deliver real business value for our customers. The combination of our AI technologies that keep humans at the centre, along with a deep understanding of the workforce landscape, will help organisations thrive and move forever forward,” he added. 

Empowering talent acquisition and mobility solutions 

As the labour market evolves rapidly, organisations grapple with talent shortages and anticipate significant job transformations in the coming years. In response, human resources leaders confront escalating challenges. The integration of Workday and HiredScore is likely to offer a transformative solution, furnishing organisations with a holistic and astute talent acquisition and internal mobility platform. 

Equipped with this solution, businesses will be able to effectively address the burgeoning needs of their workforce and adapt to dynamic business landscapes. Key features include:

Harness Responsible AI for Recruiting Solutions: Both companies prioritise responsible AI and human-centric decision-making. Their collaboration will deliver an explainable and reliable platform for customers to match, recruit, and manage talent within their talent networks.

Optimise Talent Lifecycle Management: Workday and HiredScore unite to offer a comprehensive solution for HR leaders to oversee the entire talent lifecycle effectively. This combined offering empowers recruiters to leverage data for talent sourcing, accelerating screening processes with data-driven insights, and identifying potential candidates, including those within the organisation's talent pool. Moreover, it enhances internal mobility and upskilling by facilitating employees' identification and preparation for new opportunities within the company.

Enhance Recruiter and Hiring Manager Experience: The integrated Workday and HiredScore solution streamlines and accelerates hiring processes by providing automated notifications, guided experiences, and actionable recommendations seamlessly integrated into their workflow, thus optimising talent acquisition efforts.

The transaction is anticipated to conclude during the first quarter of Workday's fiscal year 2025, concluding on April 30, 2024, pending the fulfilment of standard closing prerequisites, including necessary regulatory authorisations. Orrick is providing legal counsel to Workday, while Cooley is acting as legal advisor to HiredScore and its shareholders.

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Topics: Business, #ArtificialIntelligence, #HRTech, #HRCommunity

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