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ServiceNow has announced plans to acquire the AI-powered platform HitchWorks, which helps companies bridge the talent gap by aligning existing employees’ skills with new roles and training opportunities.
The announcement comes at a time when businesses across the industrial spectrum are struggling with growing skills disparities and talent shortages, driven in part by trends such as the so-called “great resignation”.
With pre-integrated integration for Applicant Tracking Systems, Learning Management Systems, Human Capital Management (HCM) Systems, LinkedIn, online survey tools and more, Hitch offers mapping and analytics for skills supply and demand, career planning and guidance. Leaning on machine learning, Hitch automatically interprets data in project work, job postings, and people’s profiles, then makes recommendations – this may include new training courses for employees, internal job posts, short-term projects that are understaffed, and so on. .
Over the five years of its operation, Hitche has amassed a fairly impressive roster of enterprise clients, including Allianz, Bosch and GE Digital.
Now is the time
Founded in 2003, ServiceNow has emerged as a $ 100 billion powerhouse in the enterprise sector, and is known for its workflow automation platform known for IT services, employee onboarding, facilities management and more. However, the company is promoting its flagship Now platform, aligning itself with the growing hybrid work movement with new indoor mapping functionality recently acquired from its Mapwize acquisition.
When the Hitch acquisition closes, which is expected later this quarter, ServiceNow will set Hitch’s skills insights about integrating into the Now platform, and look to bridge existing skills and talent management data silos that often do not go beyond their original HR software. Systems All of this is ultimately about unlocking insights that can help retain talent – recent Pew research suggests that as many as 63% of U.S. workers quit their jobs in 2021 because there were no promotion opportunities.
“If skills are the new currency for a business, understanding these skills is key to adapting to retaining talent and developing business needs,” said Gretchen Alarcon, VP and general manager of HR service distribution at ServiceNow. “But skills management has historically been sealed with numerous point solutions and split processes that do not work together. With Hitch, ServiceNow will streamline skill intelligence on a single platform so business leaders can help employees match meaningful work.
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