How are companies improving Performance Management?
Many are turning to performance management software, often part of a larger talent management software suite; in an effort create automated human capital solutions. Such systems typically link performance management, compensation, learning and development, corporate goal setting, succession planning tools, recruiting and other human resources systems. This trend towards performance management software is evidenced by the following powerful statistic from the 2007 Towers Perrin Reward Challenges and Changes Survey which reported data collected from over 600 companies in 21 countries: • 90% of respondents reported an increase over the past 3 years in practicing performance management as a high-tech, not high-touch activityThis trend is further supported by Watson Wyatts recent survey Changing Strategies in HR Technology and Outsourcing – 2007 HR Technology Trends which reports that Many companies are looking to implement technology solutions for their talent management programs. The chan
