Credit reporting agency Equifax on Monday (Jan. 31) signed a definitive agreement to acquire cloud reporting, onboarding and HR management platform Efficient Hire, a move that will allow Equifax Workforce Solutions to offer more hiring and employment services and information to employers.
“The Efficient Hire acquisition demonstrates our commitment to reinvesting our 2021 outperformance in bolt-on acquisitions that further position Equifax for diversified growth,” said Mark W. Begor, CEO of Equifax, in the joint announcement. “Efficient Hire will enhance our robust suite of employer services and bolster our largest and fastest-growing business: Workforce Solutions.
“As the only cloud-native company of our kind, we will leverage the Equifax Cloud to rapidly integrate Efficient Hire’s solutions into the Equifax portfolio, helping us to drive innovation and provide customers with unique access to more capabilities, product suites and services,” he said.
Efficient Hire suite of solutions — including HR management issues — is geared toward hourly employers, primarily in the restaurant, staffing, building services, senior care and hospitality industries.
“Now more than ever, employers are in a battle for talent,” said Joe Muchnick, senior vice president of employer services and talent solutions for Equifax Workforce Solutions, in the joint announcement. “The addition of Efficient Hire further demonstrates our commitment to helping employers attract and retain the talent they need to help grow their businesses.”
Efficient Hire’s employees will join the Equifax Workforce Solutions business once the transaction has closed.
“Over the past 13 years, Efficient Hire has helped hourly employers hire more than 6.6 million new employees and provided the tools to help them create a consistent and more efficient hiring process,” said David Kenney, founder and CEO of Efficient Hire, in the joint announcement.
“Our team is invigorated by the opportunities that lie ahead, as we leverage Equifax’s renowned capabilities in analytics and technology for the benefit of our customers,” he said.
Related: Equifax to Include BNPL Plans in Credit Reports
Meanwhile, Equifax is adding buy now, pay later (BNPL) plans to credit reports, giving lenders a better picture of peoples’ financial commitments, including how much they owe on these plans.
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