We believe that straightforward, easy to use tools like SonicPerform give organizations the best opportunity to see real gains and avoid stifling the process by overwhelming the key constituents for success: employees.
Emeryville, CA (PRWEB) June 3, 2008
Cytiva Software Inc. (CRX - TSX.V), a leading provider of on-demand talent management software solutions, announced today that the company has underwritten an important study by Aberdeen, a Harte-Hanks Company (NYSE: HHS). The goal of the report is to determine how companies are adopting and adapting employee performance management strategies in order to increase retention, maximize talent and gain insight into their organizational strengths and weaknesses.
"Managing Employee Performance" surveyed over 900 organizations globally, studying, among other things, the practices and results of the top 20% of respondents, dubbed "Best-in-Class." The research revealed that Best-in-Class organizations are achieving dramatic performance gains that are otherwise unachievable without a specific focus on key employee performance management practices.
The study shows that it starts with a focus on creating internal processes and organizational capabilities, including:
A well-defined process that holds managers accountable for their employees' performance management
A process that ensures employees understand how their individual performance affects organizational goals
Performance ratings that are standardized across the organization to ensure consistency with employee reviews
Informal meetings where managers involve employees in the goals definition process
The research reveals that while less than one-half of Best-in-Class organizations currently utilize an automated employee performance management (EPM) system, organizations that do are achieving greater average performance gains across all key performance indicators that end-user organizations assigned to employee performance management. This includes more than 600% greater improvement in employee time-to-productivity and more than 700% greater increase in employee retention than organizations with a manual EPM system.
"While automation is not a prerequisite for EPM success, our research shows that Best-in-Class organizations achieve better results when automation is utilized," said Kevin Martin, research director, Human Capital Management at Aberdeen. "And with more than 60% of organizations surveyed saying they do not have automated EPM in place, we believe vendors like Cytiva and others have a real opportunity to add significant value to organizations as they look to increase performance, boost retention and navigate an increasingly difficult talent landscape."
"The Aberdeen research shows that organizations are increasingly looking to involve all employees in the performance management process," said Jason Moreau, CEO of Cytiva Software Inc. "We believe that straightforward, easy to use tools like SonicPerform give organizations the best opportunity to see real gains and avoid stifling the process by overwhelming the key constituents for success: employees."
A complimentary copy of the report, partially underwritten by Cytiva, developers of the SonicPerform performance management system, can be downloaded from http://www.sonicperform.com, or by visiting http://www.aberdeen.com/link/sponsor.asp?spid=30410837&cid=4907.
About Cytiva Software Inc.:
Cytiva Software Inc. (CRX:TSX.V) provides innovative on-demand talent management software and services to mid-sized and Fortune 500 companies. Its flagship http://www.sonicrecruit.com/?utm_source=D2net&utm_medium=aberdeen pm Release [recruiting software] product, SonicRecruit, allows corporations to screen applicants, automate recruiting departments, customize corporate career sites and hire great people. This premier applicant tracking system improves recruiting effectiveness, speeding up the hiring process and reducing cost per hire. Cytiva's SonicPerform employee performance management system automates employee evaluations, aligns employees around key goals and encourages year round feedback. For more information, visit http://www.sonicrecruit.com.
About AberdeenGroup, a Harte-Hanks Company:
Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to AberdeenTM for insights that drive decisions.
As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information - Opportunity - Insight - Engagement - Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeen http://www.aberdeen.com
mediarelations @ sonicrecruit.com
The TSX has not reviewed and does not accept responsibility for the accuracy or adequacy of this news release, which has been prepared by management.
Forward-looking Statements: This news release contains forward-looking statements related to the future financial condition and results of operations of Cytiva. These statements are based on current expectations and estimates about the human resources markets in which Cytiva operates and management's beliefs and assumptions regarding these markets. These statements are subject to important risks and uncertainties which are difficult to predict and assumptions which may prove to be inaccurate. Some of the factors which could cause results or events to differ materially from current expectations include but are not limited to: general economic conditions, market or business conditions; changing competitive environment; changing regulatory conditions or requirements; changing technology; and success in implementing productivity initiatives. Some of these factors are largely beyond the control of Cytiva. Should any factor impact Cytiva in an unexpected manner, or should assumptions underlying the forward-looking statements prove incorrect, the actual results or events may differ materially from the results or events predicted. All of the forward-looking statements made in this document are qualified by these cautionary statements, and there can be no assurance that the results or developments anticipated by Cytiva will be realized or, even if substantially realized, that they will have the expected consequences for Cytiva. Readers should not place undue reliance on any forward-looking statements. Further, Cytiva disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or any other occurrence.
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