UKG, a leading provider of HR, payroll, workforce management, and culture solutions, announced that its in-house global startup ecosystem and virtual laboratory, UKG Labs, has grown to 20 companies. UKG Labs is a highly selective program accelerating frontline workforce innovation by identifying and nurturing early-stage companies that share UKG’s vision to inspire every organization to become a great place to work through technology built for all.
Portfolio companies are recruited and selected through a rigorous vetting process centered on emerging categories and trends that are shaping the future of work. For instance, as contingent work becomes a larger part of workforce strategies for organizations worldwide, employers need streamlined technology to attract and manage these employees. New members of the UKG Labs ecosystem are working to address these challenges, including:
- Pruuvn, a background tracking platform, helps employers accurately verify and screen potential gig workers’ identities and credentials through blockchain technology and artificial intelligence (AI).
- Wallit is a portable benefits payment system of record with a unified, cross-brand shopping network. Its platform streamlines the delivery of workplace benefits for contingent and non-contingent workers, making it more accessible and efficient for carriers, brokers, organizations, and employees.
At the same time, the contingent workforce is growing, and many employers are wrestling with how to best capture and use data to make changes for a more efficient, productive, and happier workforce. Included.ai, an HR intelligence platform, enhances decision-making for HR leaders by identifying critical hotspots, including attrition rates, employee engagement, and diversity, equity, and inclusion (DEI) metrics, and providing actionable insights through integrations with corporate people systems.
Financial wellness and financial technology continue to be two key areas for employers to boost employees’ total wellbeing. The following companies are working to help employers achieve this goal:
- Muse leverages AI to focus on employees’ financial health by optimizing tax withholdings and providing life planning tools and affordable financial advice.
- Salt Labs operates the world’s first rewards program that is linked to an employee’s time, allowing them to accumulate and redeem “Salt” for unique rewards and experiences to boost employee recognition and productivity.
- Ditch helps people achieve financial freedom through AI-based insights, analytics, and transaction detection to help consumers manage and repay their debt.
- SecureSave specializes in providing employer-sponsored emergency savings accounts (ESAs). It enables employees to quickly set up and fund FDIC-insured savings accounts through automated payroll deductions.
- Your Money Line combines AI-powered software with human coaching to help employees manage their finances, reduce stress, and increase financial stability.
- Questis leverages generative AI and certified financial coaches to provide personalized, scalable, and secure financial guidance, so consumers can take control of their finances.
UKG collaborates with startup founders looking for assistance beyond capital from a strategic investor. Through UKG Labs, each portfolio company develops a personalized, outcome-based engagement plan tailored to their needs and interests involving collaboration with various teams within UKG.
Startups partner with a team of U Krewers to identify opportunities for mutual learning, creation, and experimentation. This collaboration helps startup founders gain insights and guidance on market-related questions and challenges where UKG has deep domain expertise. In return, U Krewers combine their skills with the entrepreneurial energy of startups and gain a deeper understanding of market challenges to better serve UKG customers.
“UKG Labs presents a unique opportunity for entrepreneurs to gain access to our employees’ knowledge, expertise, and time to improve their own technology,” said Hugo Sarrazin, president, chief product and technology officer at UKG. “Likewise, UKG employees who work with these startups hone their existing skills while developing new ones to further their own careers and bring fresh perspectives to their own teams. By working together to identify and solve market issues, we’re bringing solutions to customers more quickly while supporting the next generation of potentially game-changing HCM technology companies.”