ServiceNow to acquire Hitch Works to help customers address talent gaps

ServiceNow (NYSE: NOW) has announced it has signed an agreement to acquire Hitch, a skills mapping and intelligence company. Hitch will add a new layer of AI-powered skills insights to the industry-leading Now Platform to help customers address talent gaps by tying employee learning and development to workforce planning. Companies will be able to more effectively match people to projects – all from a single platform.

The employee experience matters more than ever. According to IDC, CEOs in North America believe that managing the talent skills gap is the biggest risk impacting business in 2022[1]. Faced with high employee turnover and an accelerated pace of change, companies today are under immense pressure to attract, train and retain a workforce that can respond to evolving business needs. With Hitch’s AI and ML capabilities, managers will be able to identify which employees are best suited for projects based on skills and interests.

"If skills are the new currency for business, insight into these skills is critical to driving talent retention and adapting to evolving business needs," said Gretchen Alarcon, vice president and general manager of HR Service Delivery, ServiceNow. "But skills management has historically been siloed, with numerous point solutions and fragmented processes that don't work together. With Hitch, ServiceNow will streamline skills intelligence on a single platform to help business leaders match employees with meaningful work."

Hitch was founded by HR-industry veteran Kelley Steven-Waiss, who served as CHRO and CIO of HERE Technologies prior to founding Hitch. The company is led by CEO Heather Jerrehian, a successful serial entrepreneur and one of the founders of the venture capital firm, How Women Invest. Both leaders are expected to remain with ServiceNow post-acquisition.

“AI-powered skills intelligence is the foundation for the future of work,” said Jerrehian. “Joining forces with ServiceNow allows us to scale our skills and talent mobility solutions across a global ecosystem of business leaders, managers and employees. Together we will make work more meaningful and purpose-driven for employees and deliver better business outcomes for companies.”

[1]IDC's Worldwide CEO Survey, 2022: The CEO Tech Agenda in a Digital-First World, Part 1 — Big Themes, Business Priorities, and Risks, Doc # US48898922, March 2022.