By 2012, the workforce-performance-management software services industry will reach nearly $2.6 billion according to an IDC report entitled Worldwide Workforce Performance Management Forecast 2008-2012.
We’ve been hearing a lot lately about “economic downturn”, “slowdowns”, and the unemployment rate. At the same time, the IDC is forecasting somewhat rapid growth for software services that provide workforce-performance-management solutions.
This can be explained easily enough: HR executives are hedging their bets that a software solution is a cheaper solution than a human solution (i.e. a consultant or a new hire), and (working in the workforce-performance-management software services industry) I am inclined to agree.
Lisa Rowan, the IDC’s HR and Talent-management services program director says that “Despite a potential business downturn, employee retention will continue to be a key concern for HR executives in 2008, given the very real demographic shifts occurring in the workforce” and that “[e]mployers will be seeking ways to both automate and integrate talent functions, with the goal of identifying and retaining top performers. Performance management is a linchpin in this process”.
On a small scale, might such services (as implemented in, say, a paper company) be a first step in the direction of better fostering a relationship between Connectivity and Productivity?
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