Workday has announced it’s intent to acquire talent orchestration technology provider, HiredScore.
As a leading provider of enterprise cloud applications for finance and human resources, Workday is currently used by more than 10,000 organizations across the globe.
Find out more about the acquisition below.
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Workday has announced its interest in the acquisition of HiredScore, a talent orchestration technology provider.
Built with AI at its core, Workday has the business aim of helping customers elevate their workforce, and is used by more than 10,000 organizations around the world – including more than 50% of the Fortune 500.
In a statement, the vendor shared that the combination of Workday Talent Management, Workday Skills Cloud, and HiredScore’s Talent Orchestration solutions will help address employee’s ever-changing needs, by providing a “comprehensive, transparent, and intelligent talent acquisition and internal mobility.”
Carl Eschenbach, who has recently taken Workday’s helm as CEO, said: “People are at the heart of every organization, and investing in new and innovative ways to unlock the potential of talent is more important than ever.
“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 center, along with a deep understanding of the workforce landscape, will help organizations thrive and move forever forward.”
The acquisition is expected to complete in the first quarter of Workday’s fiscal year 2025, subject to customary closing conditions, including required regulatory approvals.
Writing on LinkedIn, Kyle Lagunas, head of strategy at Aptitude Research, said it was the “biggest news since Oracle announced its acquisition of Taleo, and marks a new era of talent acquisition innovation.
“Unmatched matching and scoring AI, unparalleled AI compliance and ethical standards, and (as yet) peerless AI orchestration capabilities have made HiredScore a major player.”
“Looking ahead, I expect this will serve as a lightning rod for vendors to rethink everything–their products, their partnerships, and their competition.”
Finding solutions to fit the ever-evolving talent
In a statement, the vendor explained that the acquisition will enable Workday to provide organizations with what it describes as an “intelligent talent acquisition and internal mobility solution” to ensure businesses keep growing at their current pace.
This is particularly important as up to one quarter of jobs are expected to change in the next five years, meaning HR leaders will be facing the challenges of an increasingly complex labor market.
As both companies are committed to responsible AI, the acquisition will open up the chance to leverage new opportunities to help solve recruiting challenges by providing an explainable and trustworthy way for customers to match, hire, and manage talent from across their talent ecosystem.
“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,” said Athena Karp, founder and CEO of HiredScore.
“By combining our efforts and innovations with Workday, we’ll be able to deliver even more value to companies around the world as they look to build their future HR function.”
What’s more, the vendor plans to support HR leaders to manage the holistic view of the talent lifecycle.
For example, the acquisition will enable recruiters to use data to connect talent to open opportunities in a more efficient manner, including; identifying and matching candidates who hold the skills and experience that match a customer’s open jobs; using data-driven insights to accelerate screening; and identifying passive candidates.
Employees will also receive greater support when identifying and preparing for new opportunities within their companies, through the enhanced internal mobility and upskilling options.
Last but not least, the acquisition will help streamline the hiring process to make their talent acquisition efforts more efficient. This will help to elevate the recruiter and hiring manager experience by providing automated notifications, guided experiences, and recommended action items.
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