The HR Huddle Spilling the Tea on HR Tech - The rise of HR-finance convergence and why platforms are acquiring payment processors to create integrated business ecosystems that reshape the technology landscape.
In this episode of Spilling the Tea on HR Tech, Stacey Harris and Cliff Stevenson discuss Anaplan's purchase of AI-powered supply chain company Syrup Technologies and Gusto's acquisition of 401K provider Guideline, alongside significant product launches including Salary.com's multilayered AI compensation suite.
They analyze OrgView data revealing that Fortune 500 companies avoiding layoffs outperformed those making cuts by 4-5%, while discussing the challenges facing OpenAI's proposed LinkedIn competitor.
Key points covered include:
↪️ News from ADP’s Innovation Day shows that the company’s AI investments are paying off. ADP embeds AI assistants throughout its platform at no extra charge, contrasting with 50 to 60% of HR vendors charging additional fees for AI features. ADP’s AI assistants focus on compliance, payroll, and auditing applications. ADP’s HCM suite Lyric is also gaining traction.
↪️ OrgView data shows Fortune 500 companies that maintained stable workforces outperformed those reducing workforces by 4 to 5% across revenue, productivity, and other business metrics, challenging the conventionally held benefits of workforce reduction.
↪️ Salary.com just launched its new CompAnalyst AI Suite, designed to give employers simplified and more powerful ways to manage compensation based on detailed and deep talent data with multilayered AI agents giving users the ability to analyze data from many different perspectives with complete transparency.
↪️ OpenAI's proposed hiring platform, intended to take on LinkedIn, faces the same obstacles that derailed previous attempts by Microsoft, Meta, and Google; the B2B market with its complex sales processes, compliance laws, and regulatory requirements is much different than the consumer market.
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Stacey Harris
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Cliff Stevenson