Workday – a leading provider of solutions to help organizations manage their people and money – announced it has entered into a definitive agreement to acquire HiredScore, a leading provider of AI-powered talent orchestration solutions that enable companies to use data-driven insights to improve recruiting and talent mobility processes.
The combination of Workday Talent Management, Workday Skills Cloud, and HiredScore’s Talent Orchestration solutions will provide customers with a comprehensive, transparent, and intelligent talent acquisition and internal mobility offering, helping them better address their ever-evolving people needs.
As employers struggle to find the talent they need and up to a quarter of jobs are expected to change in the next few years, human resources leaders face an increasingly complex labor market. The combination of Workday and HiredScore will offer organizations 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:
1.) Leverage AI to solve recruiting challenges – With both of the companies committed to responsible AI and keeping humans at the center of decision-making, the joint offering will provide an explainable and trustworthy way for customers to match, hire, and manage talent from across their talent ecosystem.
2.) Better manage talent lifecycles – To help HR leaders manage a 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. And 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. This offering will also provide enhanced internal mobility and upskilling by helping employees more easily identify and prepare for new opportunities at their company.
3.) Elevate the recruiter and hiring manager experience – The combined Workday and HiredScore offering will help companies make 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.
The deal 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. And Orrick is serving as legal advisor to Workday and Cooley is serving as legal advisor to HiredScore and its shareholders.
KEY QUOTES:
“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.”
- Carl Eschenbach, CEO, Workday
“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 deliver even more value to companies around the world as they look to build their future HR function.”
- Athena Karp, founder and CEO, HiredScore
