London, UK -- April 26 2022 – Beamery, the leader in talent lifecycle management, today announced its acquisition of Flux, an internal mobility platform that connects open development and work opportunities with best-fit internal talent, prioritizing employee growth and performance while propelling businesses forward.
Every company is struggling more than ever to put the right person in the right seat at the right time. According to the most recent report from the Office of National Statistics, the number of UK job vacancies rose to a new record of 1,288,000 in January to March 2022, whilst latest JOLTS data cited USA businesses as having 11.3 million job openings to fill. Across the same month the number of Americans quitting their jobs was recorded as 4.4 million. With the acquisition of Flux, Beamery will offer the first unified platform for internal and external resourcing, allowing businesses to tap into the skills of their global talent pool, and recruit, find, develop, and redeploy people “on-demand.”
“Talent is the driving force behind business success and to gain a market advantage organizations need a different workforce tomorrow than the one they have today,” said Abakar Saidov, Beamery’s Co-Founder and CEO. “Flux’s technology empowers employees to be more self-directed in their development, advancement, and connection to others within their company. With this acquisition, we're creating a more holistic solution - one that unifies internal and external resourcing - to better inform organizations on the capabilities of their workforce, and enable them to achieve their DEI, talent, hiring and retention goals."
In today’s competitive talent market, companies can benefit significantly from creating a culture focused on supporting mobility and development. Connecting individuals with opportunities to upskill and take on short term gig work, and promoting career progression via tailored career pathways are all critical steps in improving retention and ultimately creating a workforce that is well placed to support future business growth. The importance of which is echoed by joint Beamery and Flux customer, Mark Eckert, Director of Talent Mobility and Immigration at Uber:
“An amazing talent experience is at the heart of what makes Uber an incredible place to work. By empowering employees to move internally we can learn from their movement and offer personalised journeys to employees and candidates that keep them engaged and growing throughout their career here.”
Companies that use Flux, including Uber and Peloton, have seen an increase in participating employee tenure, sentiment about career path visibility and attainment, and a meaningful reduction in administration time which is crucial for scaling the initiatives within. Most work needs are able to be filled in under 14 days on average.
“We share Beamery’s belief that talent is intrinsically tied to business success and are excited to go forward together and break down silos between HR and the C-suite to unify employee and candidate data,” said Nick Ionita, Flux’s Co-Founder and CEO. “The importance of providing employees with meaningful work, including exposure to new roles that will help them learn new skills and will enable them to envision a growth path at a company should not be underestimated.”
Notably, LinkedIn’s 2022 Workplace Learning Report reinforces this, citing that companies that excel at internal mobility retain employees for an average of 5.4 years, nearly twice as long as companies that struggle with it, adding that many L&D leaders haven’t made this connection yet despite employees’ top three motivations to learn also being linked to progressing their careers. However, 54% of L&D professionals did agree that internal mobility has become a higher priority at their organization since COVID-19.
“Companies are caught in a dilemma: trying to hire while they reskill and reorganize jobs at all levels.” said Josh Bersin, global industry analyst. “Through the acquisition of Flux, Beamery can help companies tap into key skills and “talent on demand” with an intelligent platform that brings together external candidates, employees, and alumni into a single, global talent pool"
“From attracting top talent to help grow Peloton to engaging our employees and connecting them to motivating opportunities to progress their careers, we’re excited to strengthen our commitment to making Peloton the best place to work for all our team members.” - Shari Eaton, Chief People and Culture Officer