BANGALORE, INDIA: Infor, a leading provider of business application software serving more than 70,000 customers, announced the acquisition of PeopleAnswers, a leader in predictive talent analytics.
PeopleAnswers' cloud-based talent science platform adds analytical rigor to human capital management. Developed by a team of PhDs in behavioral science, this unique cloud service analyzes 39 behavioral traits for job candidates and produces a fit rating.
Companies like Audi, Foot Locker, Gold's Gym, Hertz, Neiman Marcus, and The Cheesecake Factory can measure significantly reduced turnover, improved customer service, and increased revenue by qualifying applicants more thoroughly and analytically as a result of PeopleAnswers.
According to research, 46 percent of new hires are bad hires and 89 percent of them fail because of attitudinal reasons. Skills are not predictive of positive outcome for a new hire.
PeopleAnswers scientists invested in big data for over a decade and the data proved that 39 other attributes were more predictive of a new employee's performance. Those attributes include ambition, discipline, energy, acceptance of authority, attention to detail, flexibility, conscientiousness, and empathy.
PeopleAnswers administers statistically significant and consistent online interviews to 20 million applicants annually across multiple industries, job roles, and geographies that measure the 39 performance attributes and create DNA profiles. Those attributes are weighted differently by job role and completely derived from the data.
The acquisition of PeopleAnswers will make the Infor HCM suite, already recognized as a leader, one of the first HCM suites to deliver a real-world use case for big data that impacts results that can be measured. Stores at a large retailer, for example, had 30 percent higher sales and lower turnover in the stores that used PeopleAnswers versus the stores that did not. That retailer is now standardizing on PeopleAnswers and centralizing the hiring process.
PeopleAnswers' unique approach uses behavioral science to achieve results in the traditionally "soft" space of HR, tying performance metrics to key behaviors of top employees using Performance ProfilesTM and Behavioral DNA to enable companies to hire, reward, and promote their best performers.