On the heels of a first half that saw new customers and several growth initiatives, Reflektive, the real-time performance management cloud company, today announced it has acquired Shape Analytics, a real-time intelligence and predictive analytics solution for workforce data. Reflektive will embed the new capability into its platform as Reflektive Analytics, bringing simple, drag-and-drop, customizable people analytics to every employee.
“We’ve been a satisfied customer of Reflektive to drive our agile performance feedback processes, and we’ve successfully partnered with Shape to use their analytical data reporting capabilities to help us make better people decisions,” said Matt Hoffman, VP of People at DigitalOcean. “Having both of these solutions combined on the same real-time platform gets us incredibly excited for the power and possibilities of making our people data more actionable, more insightful, and easier to use across the entire organization.”
The acquisition comes just months after Reflektive’s $60M Series C round, led by TPG Growth, and will help to accelerate the company’s growth by expanding the capabilities of its best-in-class performance management solutions. The terms of the deal were not disclosed.
“Shape has solved a hard problem – they created a people analytics platform that is so intuitive that HR will no longer need the support of a data science team to analyze and surface insights,” said Rajeev Behera, CEO of Reflektive. “Through the Shape acquisition, we will be launching our Reflektive Analytics product which will provide real-time, customizable dashboards and reporting for our people management solutions to empower HR leaders, people managers and employees.”
Last-mile Analytics for Faster and Smarter Decision Making
Reflektive Analytics delivers breakaway last-mile analytics capability, enabling both front-line and higher-level employees to make analytics-enabled people decisions by making it accessible to every employee through user-friendly customization options to suit a wide range of needs.
From analyzing employee lifecycle and changing workforce demographics to self-driven benchmarking of individual employee performance, Reflektive Analytics empowers HR leaders, people managers and employees to improve performance and grow. Now, anyone can create custom dashboards and reports to analyze data across different Reflektive solutions, and compare Reflektive performance data against workforce data from HRIS solutions.
New, Growth-Minded Customers Worldwide
Reflektive’s platform provides comprehensive solutions that agile, growth-minded organizations need to drive business and employee success – to directly address Growth Divide opportunities and problems. New customers to Reflektive in several geographical locations include Lesmills.com, Everbridge, iFood, Cortland Partners, Bustle Digital Group, and Foursquare.
“We implemented Reflektive in early 2018 because we wanted to transform from an annual to real-time feedback and performance management culture, and our current HRIS software isn’t delivering what we need for where the world of work is heading,” said Cara Antonacci, VP of HR at Everbridge. “Reflektive’s customer experience is top-notch – starting with the sales process and currently with the customer success team – the platform is incredibly easy-to-use, flexible and powerful for employees and management.”
Reflektive also doubled-down on security and compliance during H118, achieving both SOC Type 2 and General Data Protection Regulation (GDPR) compliance in May to drive more customer success worldwide.
“Before Reflektive, our review process was very time intensive for our associates and managers,” said Megan Jackson-Cheatham, manager of talent programs at Cortland Partners. “Our managers did not have insight into the feedback their associates were giving or receiving to each other throughout the year and we struggled with ways to track individual goal progression. Our partnership with Reflektive has provided us with technology to facilitate more frequent, actionable feedback, empower associates to take development into their own hands, and allow managers to have an overview of an associate’s overall contributions.”
Hallmarks of Reflektive’s Success
As evidence of Reflektive’s momentum, the company also marked the achievement of several KPIs in the first half of this year, including:
- Continued triple-digit, year-over-year revenue growth
- 99 percent customer satisfaction score for support services reported in Q2’18
- Hundreds of thousands of employees served – more than doubled since Q1’17
Pandemic ‘shecession’ reverses women’s workplace gains
By Anuradha Nagaraj
(Thomson Reuters Foundation) – The coronavirus pandemic reversed women’s workplace gains in many of the world’s wealthiest countries as the burden of childcare rose and female-dominated sectors shed jobs, according to research released on Tuesday.
Women were more likely than men to lose their jobs in 17 of the 24 rich countries where unemployment rose last year, according to the latest annual PricewaterhouseCoopers (PwC) Women in Work Index.
Jobs in female-dominated sectors like marketing and communications were more likely to be lost than roles in finance, which are more likely to be held by men, said the report, calling the slowdown a “shecession”.
Meanwhile, women were spending on average 7.7 more hours a week than men on unpaid childcare, a “second shift” that is nearly the equivalent of a full-time job and risks forcing some out of paid work altogether, it found.
“Although jobs will return when economies bounce back, they will not necessarily be the same jobs,” said Larice Stielow, senior economist at PwC.
“If we don’t have policies in place to directly address the unequal burden of care, and to enable more women to enter jobs in growing sectors of the economy, women will return to fewer hours, lower-skilled, and lower paid jobs.”
The report, which looked at 33 countries in the Organisation for Economic Co-operation and Development (OECD) club of rich nations, said progress towards gender equality at work would not begin to recover until 2022.
Even then, the pace of progress would need to double if rich countries were to make up the losses by 2030, it said, calling on governments and businesses to improve access to growth sectors such as artificial intelligence and renewable energy.
Laura Hinton, chief people officer at PwC, said it was “paramount that gender pay gap reporting is prioritised, with targeted action plans put in place as businesses focus on building back better and fairer”.
Britain has required employers with more than 250 staff to submit gender pay gap figures every year since 2017 in a bid to reduce pay disparities, but last year it suspended the requirement due to the coronavirus pandemic.
(Reporting by Anuradha Nagaraj @AnuraNagaraj; Editing by Claire Cozens. Please credit the Thomson Reuters Foundation, the charitable arm of Thomson Reuters, that covers the lives of people around the world who struggle to live freely or fairly. Visit http://news.trust.org)
German January exports to UK fell 30% year-on-year as Brexit hit – Stats Office
BERLIN (Reuters) – German exports to the United Kingdom fell by 30% year-on-year in January “due to Brexit effects”, preliminary trade figures released by the Federal Statistics Office on Tuesday showed.
In 2020, German exports to the UK fell by 15.5% compared to 2019, recording the biggest year-on-year decline since the financial and economic crisis in 2009, when they fell by 17.0%, the Office said.
“Since 2016 – the year of the Brexit referendum – German exports to the UK have steadily declined,” the Office said in a statement.
In 2015 German exports to the UK amounted to 89.0 billion euros. In 2020, German they totalled 66.9 billion euros.
Imports to Germany from the UK totalled 34.7 billion euros in 2020, down 9.6 % compared to 2019.
(Reporting by Paul Carrel; Editing by Madeline Chambers)
German unemployment unexpectedly rises in February
BERLIN (Reuters) – German unemployment rose in February for the first time since last June, data showed on Tuesday, dashing expectations for a fall as lockdown measures to suppress the coronavirus case load held back Europe’s largest economy.
The Labour Office said the number of people out of work rose by 9,000 in seasonally adjusted terms to 2.752 million. A Reuters poll had forecast a fall of 13,000.
“Kurzarbeit (shortened working hours) continues to secure employment on a large scale and prevent unemployment,” Labour Office chief Detlef Scheele said in a statement, adding: “Individual sectors are feeling the effects of the lockdown.”
Germany has been in lockdown since November, and measures were tightened in mid-December, as it battles a second wave of the virus. Chancellor Angela Merkel has said new variants of COVID-19 risk a third wave of infections.
The unemployment rate remained unchanged compared with the previous month at 6.0%.
The labour agency said some 2.39 million employees were on shortened working hours in December under the government’s Kurzarbeit scheme designed to avoid mass layoffs during downturns by offering companies subsidies to keep workers on the payroll.
After peaking at some 6 million last April, the number of people on Kurzarbeit fell before rising again in November as lockdown measures kicked in, the Office said.
(Writing by Paul Carrel; Editing by Madeline Chambers)
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