To keep up with demand for skilled employees and increased competitive pressures, corporations are finding that they must make significant changes in how they run their employee performance management (EPM) operations.
This study revealed the most critical drivers for change in employee performance management as well as the key trends in how Best in Class companies are executing game plans for EPM success. Findings are based on a benchmark report conducted in June 2006 of more than 150 companies. Fully 31% of respondents were vice president or C-level executives, with most others at a director of human resources or manager level. Our study revealed that 98% of all Best in Class firms have automated their EPM processes, versus 59% of all other firms. Almost three-quarters of all respondents report that they don’t have enterprise-wide, database-driven automation of their EPM processes.
Why not? Aside from the fact that 27% say they cannot make a solid business case for it, a full 34% reported that they are unaware of EPM vendors and their offerings. For EPM vendors, the field is white and ready to harvest! The competition for talent is raising the bar for EPM excellence.
