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Today, Phenom announced the acquisition of Tydy, a global preboarding and onboarding provider. Tydy connects tools, processes and people to generate workflows that are personalized for each user. This announcement is Phenom’s fifth acquisition to date – rounding out its TA platform and expanding further into employee experience technology.
Kyle and I had the opportunity to interview Mahe Bayireddi about the acquisition and understand how Tydy will support Phenom’s product strategy.
Onboarding is the most critical part of any talent strategy. It is the first impression between an employee and employer and the transition between talent acquisition and talent management. When companies get onboarding wrong, it impacts revenue, retention, and productivity. According to Aptitude Research, onboarding has a significant impact on retention, employer branding, and quality of hire.
Retention: Eighty-six percent (86%) of employers believe that new hires make the decision to stay at a company in their first 90 days. Employer Branding: Three-quarters (75%) of new hires share their first day of work experience on social channels. Quality of Hire: Eighty-three percent (83%) of employers believe managers know if a new hire is a quality hire within the first 90 days.
But,
