Paycor, a portfolio company of Apax Partners, has acquired 7Geese, a Vancouver, British Columbia-based software company focused on goal setting and performance management. No financial terms were disclosed. Based in Cincinnati, Paycor is a human capital management business.
CINCINNATI, Sept. 29, 2020 (GLOBE NEWSWIRE) — Human Capital Management (HCM) company Paycor today announced the acquisition of 7Geese, an industry leader in goal setting and performance management. 7Geese’s platform will be fully integrated into Paycor’s product portfolio, enabling customers to further focus on what matters most to their businesses – their employees.
“Now, more than ever, it is critically important for business leaders to feel connected to their employees and provide the tools and guidance they need to help them perform and develop their skills for the future,” said Raul Villar Jr., CEO at Paycor. “Performance management is more than just a performance review – it’s a way to empower employees to not only set but also exceed their own career goals as well as contribute to overarching business objectives. A leader and innovator in performance management, we’re excited to welcome 7Geese to the Paycor family and work together to further enable business leaders to create great places to work for their employees.”
When done correctly, performance management is a key driver of employee engagement. 7Geese’s solution inspires high performance and engagement in distributed teams with objectives and key results (OKR) goal setting, agile performance reviews, continuous feedback, and career development plans. According to research, companies with high employee engagement experience 2.5 times higher revenues, an 18% increase in productivity and a 65% reduction in turnover.
“7Geese has always believed that the future of work was one that inspired high-performance in teams while simultaneously enabling people to grow in their careers. We have spent over a decade reimagining a modern approach to goal-tracking and performance management,” said Amin Palizban, CEO and Founder at 7Geese. “Along with Paycor, we believe that the workplace has evolved from the traditional command-and-control management environment to one of team collaboration, alignment, and engagement. We’re excited to join forces with a leading all-in-one HCM vendor to continue to lead the industry and enable both people and organizations to thrive, especially in these difficult times.”
The acquisition of 7Geese continues to further Paycor’s leadership in the HCM market and delivers on its promise to take care of the client first.
Paycor creates HR software for leaders who want to make a difference. Our Human Capital Management (HCM) platform modernizes every aspect of people management, from the way you recruit, onboard and develop people, to the way you pay and retain them. But what really sets us apart is our focus on business leaders. For 30 years, we’ve been listening to and partnering with leaders, so we know what they need: HR technology that saves time, powerful analytics that provide actionable insights and dedicated support from HR experts. That’s why more than 40,000 medium & small businesses trust Paycor to help them solve problems and achieve their goals.