Workday, Inc., a leading provider of solutions to help organizations manage their people and money, has entered into a definitive agreement to acquire HiredScore, a leading provider of AI-powered talent orchestration solutions which enable companies to use data-driven insights to improve recruiting and talent mobility processes, according to an official statement.
The merging of Workday Talent Management, Workday Skills Cloud, and HiredScore’s Talent Orchestration solutions will provide customers with a comprehensive, transparent, intelligent talent acquisition and internal mobility offering, allowing them to address their ever-changing human resource needs better.
Workday curiosity drove the platform to develop something new: a finance, human resources, and planning system that evolves with the business, as well as a company committed to doing the right thing by its people, customers, and around the world. It is built with AI at the core to help customers elevate people, supercharge work, and move their business forever forward. The firm is used by over 10,000 organizations worldwide and across industries – from medium-sized businesses to more than 50% of the Fortune 500.
Commenting on the acquisition, CEO of Workday Carl Eschenbach said:
People are at the heart of every organization, and investing in new and innovative ways to unlock the potential of talent is more critical 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. Combining our AI technologies that keep humans at the centre and a deep understanding of the workforce landscape will help organizations thrive and move forward.
With employers struggling to find the talent and up to a quarter of jobs expected to change in the next five years, human resources leaders face an increasingly complex labour market. The combination of Workday and HiredScore will provide organizations with a comprehensive and intelligent talent acquisition and internal mobility solution to help them keep pace with growing workforce and business demands. This will include the ability to:
- Leverage Responsible AI to Solve Recruiting Challenges: With both companies committed to responsible AI and keeping humans at the centre of decision-making, the joint offering will provide an explainable and trustworthy way for customers to match, hire, and manage talent across their talent ecosystem.
- Better Manage the Talent Lifecycle: To help HR leaders manage the holistic view of the talent lifecycle, Workday and HiredScore will provide a combined offering that will better enable recruiters to use data to connect talent to open opportunities. This includes solutions that assist with identifying candidates whose skills and experience most closely match a customer’s open jobs, accelerating screening using data-driven insights, and identifying passive candidates – including within a customer’s talent ecosystem. The offering will also provide enhanced internal mobility and upskilling by helping employees more easily identify and prepare for new opportunities at their company.
- Elevate the Recruiter and Hiring Manager Experience: The combined Workday and HiredScore offerings will help companies make their talent acquisition efforts more efficient by streamlining and expediting hiring processes through automated notifications, guided experiences, and recommended action items, all in their flow of work.
Athena Karp, Founder & CEO of HiredScore, added:
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. By combining our efforts and innovations with Workday, we’ll be able to provide even more value to companies worldwide as they look to build their future HR function.
The transaction is expected to close in the first quarter of Workday’s fiscal year 2025, ending April 30, 2024, subject to the satisfaction of customary closing conditions, including required regulatory approvals. Orrick is a legal advisor to Workday, and Cooley is a legal advisor to HiredScore and its shareholders.
HiredScore’s artificial intelligence, automation, and deep integrations empower some of the world’s largest and most innovative companies to drive critical business outcomes in recruitment productivity, internal mobility, and total talent management safely and transparently. Its proprietary technology provides responsible AI that seamlessly connects to data and systems to power the shift in HR operating models. The platform is live in 150 countries and available in 70 languages.
