John DealJuly 2, 2024
Topics: News

Phenom Acquires Tydy to Advance Phenomenal Onboarding & Talent Experiences

At Phenom, our team is obsessed with empowering enterprises across industries to hire faster, develop better, and retain longer — all while ensuring every experience is phenomenal.

Onboarding is a critical, yet historically underserved stage in the talent journey where candidates become employees — and where talent leaders can set them up for success. It is here where first impressions are made, and each interaction has the potential to create a lasting impact.

The desire to deliver the best employee experiences and accelerate time to productivity is what led us to acquire Tydy, an HR technology company that is purpose-built to provide seamless preboarding, onboarding, and offboarding experiences for some of the world’s biggest companies.

Now with onboarding, the Phenom Intelligent Talent Experience platform bridges candidate and employee journeys to create an end-to-end experience from job discovery until the moment an employee is offboarded from an organization.

Here’s a short video from our co-founder speaking about the acquisition:

New Hire Processes & Experiences Are Broken

Once a candidate is hired for a job, the next stage of their journey begins: becoming an official employee. Too often, this experience is bogged down by inefficient processes and miscommunications, as talent acquisition and talent management teams must work together across multiple systems to complete necessary operational steps, verifications, and documentation leading up to an employee’s first day. Documentation in different systems compounds inefficiencies and leads to compliance risks.

On top of that, most companies look to automating the process as a quick fix — but there is not enough consideration and focus on the type of experience that is being created. As a result, there is a delay in new employees quickly becoming productive, realizing their potential, and making an immediate impact on the business.

All of this comes at a critical time when the organization has a true opportunity to create a lasting and meaningful first impression with the talent they’ve just hired. According to Gallup, only 12% of employees feel their organization has a good onboarding process, while 43% wait more than a week for essential tools and resources. Meanwhile, about a quarter of HR professionals indicate their onboarding programs lack essential tech support.

Considering as much as 20% of turnover occurs within the first 45 days of employment, a streamlined experience and process that unites all key stakeholders across talent acquisition, talent management, operations, and HRIT teams is essential to success.

Phenom + Tydy: Bridging the Gap from Hire to Day 1

The Phenom platform empowers companies to deliver amazing experiences throughout the entire journey all from one place — this fifth acquisition fortifies our vision to shorten time to productivity for employees, while creating efficient experiences for HR practitioners that make a lasting, positive impact.

Founded in 2019, Tydy connects tools, processes, and people to generate workflows that are seamless, efficient, and personalized for each user. Several of the world’s largest companies use Tydy’s Employee Data Platform (EDP) to reduce manual effort from HR, IT, and operations teams, easily achieve compliance through automation, and decrease the amount of time it takes to onboard employees.

Phenom recognized the immense synergy that existed between Tydy’s EDP and Phenom’s platform – enabling personalization and productivity by leveraging data, context, automation, and intelligence. Now with onboarding, Phenom will further empower organizations to expedite employee productivity through:

  • Personalized experiences: Customized workflows will be available for employees, talent acquisition, people managers, HRIT, and HR Ops teams

  • A holistic view: Status information across multiple systems will be consolidated in one place to see candidate and employee progress

  • Streamlined, efficient processes: A single onboarding system for HR, operations, and IT teams will unify verification services for global enterprises with multiple, local vendors

The full extent of capabilities from Tydy’s EDP will be made available directly through Phenom’s platform, affording HR practitioners a common user interface for their talent acquisition, onboarding, and talent management needs. This introduction of new functionality and enhancements to the Phenom platform will support key use cases, including:

  • Preboarding and onboarding for new hires

  • Compliance checks and approval orchestration

  • Background check integration

  • Documentation collection, validation, and submission

  • Provisioning and IT asset collection triggers

  • Initiation of payroll

  • Offboarding

“The acquisition of Tydy and addition of preboarding and onboarding into their Intelligent Talent Experience platform is a natural progression for Phenom, integrating a critical part of the talent acquisition growth and development process into one comprehensive solution,” said David Wilson, CEO of Fosway Group. “Consolidation is continuing to accelerate in the HR tech industry, and this acquisition is a testament to Phenom’s continued success and growth, as well as its focus on providing a seamless end-to-end experience for customers.”

Analysts Madeline Laurano and Kyle Lagunas from Aptitude Research sat down with our CEO & Co-Founder Mahe Bayireddi to discuss phenomenal onboarding and the acquisition news. Watch it here:

The Future of Phenomenal Onboarding

With the addition of Tydy, we’re poised to make onboarding a great experience for employees, while empowering organizations to accelerate time to productivity. We’re excited to make every talent moment phenomenal from the start.

We also welcome Tydy’s team to the Phenom family, including co-founders Kiran Menon, Nikhil Gurjer, and Gaurabh Mathure — their innovative purpose-driven culture fits well with our own as we drive towards helping a billion people find the right work.

To learn more about improving the employee onboarding experience, we invite you to join us and our new Tydy partners for a live webinar on August 6 — Save your spot today.

John Deal

John is a product manager whose goal is to package Phenom's employee-centric culture into a solution that can be used by other organizations. He enjoys horror novels and running—mostly from age.

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