With the news of Ceridian’s intent to acquire Ideal, a market-leading talent intelligence software company, we sat down with its co-founders to discuss their journey to Ceridian, and why access to measurable, data-driven insights has never been more important for today’s business leaders.
In today's competitive global labour market, organizations are increasingly challenged to attract the right talent and skills they need both for today and in the future. With recruitment needs rapidly changing, data is critical to inform talent decision-making that's fair and equitable, while also helping companies make smarter decisions, faster. Here, we speak with Ideal’s Somen Mondal, CEO and co-founder, and Shaun Ricci, COO and co-founder, about the next phase of their journey with Ceridian, the value of data across the talent lifecycle, and why customers need to embrace the power of modern technologies to reinvent their talent recruitment strategies.
Why did you start your company?
SOMEN: Before we started Ideal, we founded a safety compliance management software company. We relied on data-backed decisions for everything – sales, digital marketing, lead generation – but not for the hiring process. We both come from computer science and engineering backgrounds and quickly realized this lack of data backing hiring decisions was a huge gap.
Why didn’t we have that data? This was impacting our ability to hire quickly, fairly, and without bias. If we were having this problem, we realized other companies must be, too. This was the spark that led to us creating Ideal.
At Ceridian, we’re driven to make work life better for our customers and their employees. How do you think your software will help us achieve this?
SOMEN: Today’s employers know the best workforces are those that reflect diversity. We help companies build better, more inclusive environments through fair and equitable talent decision-making. We give employers the tools to help them measure the effectiveness of the diversity, equity, and inclusion (DEI) efforts and make work life better for their employees.
SHAUN: A diverse and equitable workforce brings out more innovation, different views, better performance – what we do is allow organizations to measure it. Imagine if you hired a head of Sales without giving them a customer relationship management (CRM) platform? We now have the tools to empower HR leaders to make a difference through DEI by applying data analytics to measure and course correct. This has never been more important.
DEI is a top priority at Ceridian. Can you explain why DEI is only continuing to grow in importance?
SHAUN: The spotlight is on DEI, and for good reason. Strong DEI policies and practices attract top talent, and in turn contribute to better business performance. And the way to continue pushing product innovation, creating strong cultures, and driving creativity is by having diverse voices, experiences, and individuals at the table and at every level of your organization. A recent Fortune/Deloitte study showed that 96% of CEOs consider DEI to be a strategic priority.1 An inclusive culture starts at the top, and the ability to measure DEI efforts will only reinforce its importance to overall culture and performance.
Why are you excited to join the Ceridian team?
SOMEN: We’ve been a longstanding partner of Ceridian’s and this is a natural continuation of our relationship. Our core focus is to make Ideal a great place to work for our people. This aligns remarkably well with Ceridian’s brand promise to make work life better. Our commitment to culture, tied with our desire to provide real, measurable value to our customers, makes this a perfect partnership.
SHAUN: Like Ceridian, we’re an active player in the Toronto tech ecosystem and have known David Ossip for a number of years. We’ve watched David and his leadership team take Ceridian to where it is today – a global leader in human capital management that is driving forward the future of work. Needless to say, we’re thrilled about this next chapter in our journey and can’t wait to join the Ceridian team.
Read the press release announcing Ceridian’s intent to acquire Ideal here.