October 31, 2011
Delivers Enhancements for Talent Management, Payroll, Financial Management, Solutions for Higher Education, and Integrations to Popular User Collaboration Tools
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Workday Inc., the leader in SaaS-based enterprise solutions for global human resources, payroll and financial management, recently introduced Workday 15. This update includes enhancements to Talent Management, Global Payroll Solutions, Financial Management, solutions for Higher Education, and new integrations with Microsoft Outlook® and Salesforce Chatter™.
Workday 15 also unveils Workday’s enhanced technology architecture for optimally handling the complex and intensive in memory transaction processing and reporting for very large enterprises.
What’s New
User Experience
- With this update, Workday continues to bring its human capital management solution (HCM) into the natural environments in which workers work – no longer requiring users to login using a standard browser interface.
- Workday for Outlook, accessible via the Xobni Gadget Store, allows workers to access their Workday inbox, search for colleagues, and view contact information directly in Microsoft Outlook.
- Workday for Chatter enables workers to view their Workday inbox – including notifications, approval requests, and workforce data – directly from their Chatter stream.
Talent Management
- Talent Reviews introduces a new business process and guided experience for workers and their manager to capture career and talent profile information used to inform talent review meetings among business leaders.
- Career Interests provides a new way for employees to express their career goals and aspirations, explore jobs within their company, and compare their qualifications to those identified for a job.
- Workday and Cornerstone OnDemand provide integration between Cornerstone Learning Cloud and Workday Human Capital Management.
Global Payroll Solutions
Financial Management
- Workday 15 extends its capabilities as a comprehensive financial management and accounting solution for global and complex organizations.
- Financial transactions and reporting provides significant additions to the transactions, processes, and reporting capabilities including everything from accounting and assets to projects and expenses.
- Enhanced financial analytics provides new levels of visibility into cash collection cycles and into the total cost of workers and the work they do.
Performance and Scalability
- Workday also unveils its enhanced technology architecture. Workday’s Object Management Server (OMS) has been transformed into a set of distributed application services that deliver:
- Grid processing for CPU-intensive process such as Payroll.
- Elastic computing to execute customer developed integrations on demand.
Solutions for Higher Education
- Workday continues to develop functionality that meets the unique needs of universities and their diverse, global workforces. With Update 15, Higher Education customers will have improved visibility into one of their most important resources – faculty – through new appointment and tenure tracking capabilities.
Comments on the News:
“Workday 15 is the culmination of many strategic initiatives that have been in development this year,” said Stan Swete, Workday chief technology officer. “Unlike with on premise software, the SaaS model uniquely enables customers to immediately benefit from enhanced functionality, performance and scalability without the requirement to invest in expensive servers, software upgrades, and performance benchmarking initiatives.”
All Workday customers will go live on Workday 15 this December.
For more information on Workday, please visit www.workday.com
Matt Lafata, HRchitect
Leave a Comment » | 
HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: HR Systems, HRchitect, HRIS, HRMS, Human Capital Management, Matt Lafata, paryoll, Talent Management, Workday | 
Permalink
Posted by mattlafata
October 31, 2011
Companies Create a Unified Experience for Organizations that Closely Align Learning and Development with Broader Human Capital Management Initiatives in the Cloud
HRchitect featured Cornerstone OnDemand in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems and top Learning Management Systems vendors that businesses should consider. Charles Coy participated in the HRchitect WebMingle on January 16, 2009. Cornerstone OnDemand participated in the Talent Management Systems Beauty Pageant in December 2008, where they were crowned the winner.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) announced recently that it has collaborated with Workday Inc., the leader in SaaS-based enterprise solutions for human resources, payroll and financial management, to enable integration between the Cornerstone Learning Cloud and Workday Human Capital Management (HCM).
Customers of Cornerstone OnDemand and Workday will be able to use this cloud-to-cloud integration at no added cost, and without the need for custom development or additional middleware or servers. The jointly designed and developed integration will bring worker, organizational and talent information to and from Workday Human Capital Management and the Cornerstone Learning Cloud. This will enable customers to leverage their investments in each solution and bring together the key information employees, managers and executives need to have in one place.
“The Cornerstone and Workday integration creates a truly unified experience for organizations that want to align learning with their broader human capital and talent management initiatives,” said David Somers, vice president of alliances and strategy for Cornerstone OnDemand. “The close collaboration among our product teams ensures that organizations are now able to seamlessly share relevant data among the systems, such as competencies, and transcripts and certifications, and, in turn, more effectively develop their workforces.”
“Companies want to integrate training and development with their core human capital management system of record without the inconvenience of disjointed systems,” said Leighanne Levensaler, vice president of HCM Strategy at Workday. “With this collaboration, customers that use Workday and Cornerstone can benefit from a seamless integration that unites their core system of record with learning management solutions.”
The Cornerstone Learning Cloud, with features for e-learning, instructor-led training administration, compliance management, enterprise social networking and more, has been recognized as a leading solution by industry analyst firms such as IDC and Forrester Research. Earlier this year, Cornerstone also was positioned by Gartner Inc. in the “Leaders Quadrant” of the 2011 Gartner Magic Quadrant for Corporate Learning Systems report.
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Learning Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Cornerstone OnDemand, HR Systems, HRchitect, HRIS, HRMS, Learning Management, Matt Lafata, payroll, Talent Management, Workday | Permalink
Posted by mattlafata
October 30, 2011
Federal Agencies Can Slash Interview Time and Costs while Drastically Improving Quality of Hire as HireVue Achieves Section 508 Compliance
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
HireVue, providers of an amazing new way to interview – on demand, today announced that its digital interviewing solutions have achieved Section 508 compliance. HireVue’s Digital Interview Platform™ and On Demand Interviews™ are now the only digital interviewing solutions available with this accreditation.
Section 508 was enacted by Congress in 1998 to eliminate barriers in information technology, making available new opportunities for people with disabilities and encouraging development of technologies that will help achieve these goals. It requires that federal agencies and other government departments that receive federal funding make their electronic and information technology accessible to people with disabilities. With this accreditation, HireVue’s simple, safe and reliable solution is now available to any organization seeking support for individuals with hearing or visual impairment, including those government agencies that are required to work only with 508 compliant technology providers.
“HireVue’s digital interviewing solutions are ten times faster, nine times cheaper and 100 percent better for recruiters, hiring managers and candidates than traditional interviewing methods,” commented Peter Clegg, director of Product Management at HireVue. “Now federal agencies can turn to digital interviewing and enjoy the same improved quality of hire and time- and cost-savings that our private-sector customers experience.”
It was determined that HireVue’s interactive Digital Interview Platform and ground-breaking On Demand Interviews can help federal agencies meet Section 508 requirements after a rigorous audit by accessibility experts, Interactive Accessibility. The company’s web-based, enterprise-ready solution offers features that eliminate barriers for individuals with hearing and visual impairments including additional time allotment (up to 10 times the default time) for timed portions of the interview process, 24-hour customer and candidate support, interoperability with Assistive Technology and screen magnifiers such as ZoomText Magnifier, and the availability of captions and video transcripts.
Clegg added, “We’re very proud to meet Section 508 standards and be recognized for the opportunities our digital interviewing solutions bring to individuals with disabilities. At HireVue, it’s very important that our technology connects employers with candidates through a simple, fair and standardized process that improves the interview experience for everyone.”
For more information on HireVue, please visit www.hirevue.com.
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: HireVue, hiring, HRchitect, Matt Lafata, Peter Clegg, Recruiting, section 508, sourcing, talent acqusition, video interview | Permalink
Posted by mattlafata
October 30, 2011
HRchitect featured Kenexa in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Derek Bluestone, VP Product Marketing appeared on the HRchitect WebMingle on June 17, 2010. HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended the Kenexa Analyst Day in 2010 & 2011 and the Kenexa World Conference from 2009-2011.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Kenexa® (Nasdaq: KNXA), a global provider of business solutions for human resources, today announced that it is transferring the listing of its common stock to the New York Stock Exchange (“NYSE”). The company expects to begin trading on the NYSE on November 9, 2011, under its current ticker symbol “KNXA”. The company will continue to trade on the NASDAQ until the transfer is completed.
Rudy Karsan, CEO of Kenexa, commented, “Many of our clients are NYSE-listed multinational organizations. With our move to the New York Stock Exchange, we’re proud to take a position among them.”
“We welcome Kenexa’s decision to join NYSE Euronext’s growing community of listed companies,” said Scott Cutler, EVP and Head of Listings, Americas, NYSE Euronext. “Kenexa is a leader and innovator in enabling organizations to optimize their workforces through integrated talent acquisition and talent management solutions, and we look forward to being a valued partner in the company’s future growth by providing the highest quality markets and services.”
In celebration of the transfer, representatives from Kenexa will ring the NYSE Opening Bell at 9:30 a.m. ET on November 9, 2011.
For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Applicant Tracking, BrassRing, HRchitect, Kenexa, Matt Lafata, NYSE, Recruiting, Rudy Karsan, Talent Acquisition, Talent Management | Permalink
Posted by mattlafata
October 29, 2011
Recruitment module can help small to mid-sized businesses establish a more uniform recruiting process by improving problems associated with hiring efforts.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
SaaShr.com (http://www.SaaShr.com), a leading provider of Software as a Service (SaaS) based Workforce Management Solutions with a major focus in Human Resources (HR), Payroll, and Time and Labor Management (TLM), announced today the release of its recruitment module as part of its Ancillary Product and Service Marketplace for licensees and users of the company’s HR application. Complementary to the applicant tracking component in the HR application, the recruitment module offers a powerful solution to help address recruiting challenges faced by small to mid-sized businesses.
“Many companies in the small to mid-sized business space are struggling to hire qualified job candidates in a simple, efficient, and consistent manner due to a shortage of recruiting or HR-related resources,” stated Chad Brenneman, President of the HR and Payroll Division at SaaShr.com. A 2010 survey conducted by Manpower Group, an employment services company, concluded that the percentage of employers who have had difficulties finding qualified candidates had increased by almost half since 2006. Brenneman continued, “As the economy begins to rebound, the number of companies in this segment are expected to increase hiring efforts, thus the demand for solutions to resolve recruitment issues is expected to rise as well.”
According to the U.S Bureau of Labor Statistics, there are 3.2 million unfilled job positions in the United States, however 9.1 percent of the population is currently unemployed. “The recruitment module can help bridge the gap between the unemployment numbers and the number of available positions by streamlining hiring processes for those companies that are currently hiring and in need of a solution,” Brenneman added.
With the SaaShr.com recruitment module, applicants can upload a resume or include previous work experience, quantify their level of proficiency with a multitude of skills, list references, and include compensation requirements. Administrators, recruiters, and hiring managers can easily view that applicant’s information through a summarized view. This information is then compared with the criteria required for the position in order to zero-in on the best job applicants.
“The recruitment module provides companies with the means for making better hiring decisions faster and easier than in the past. Essentially, it can help to create a more uniform recruiting process for the businesses that lack the tools and resources necessary to effectively manage recruitment initiatives,” Brenneman concluded.
For more information on SaaShr.com, please visit www.saashr.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Applicant Tracking, hiring, HRchitect, HRIS, HRMS, Matt Lafata, payroll, Recruiting, Saashr.com, Talent Acquisition, Talent Management, Time and Attendance, Workforce Management | Permalink
Posted by mattlafata
October 27, 2011
Combined offering from SaaS innovators engages employees to improve the speed and quality of hiring
Dan Finnigan, CEO, and Jamie Glenn, Chief Product Officer with Jobvite both appeared on the HRchitect WebMingle on July 8, 2010. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
This week at Workday Rising 2011, Jobvite, the leading recruiting platform for the social web, announced a partnership with Workday, the leader in SaaS-based enterprise solutions for global human resources, payroll and financial management. Jobvite will integrate its award-winning social recruiting and applicant tracking innovations with Workday Human Capital Management (HCM).
Jobvite provides social recruiting technologies on a subscription basis that work across social networks and lead the market in their proven ability to drive referral hires. Jobvite enables jobs to be shared across social networks, on websites and via email not just by recruiters and hiring managers but by every employee of its client companies. The company’s Software-as-a-Service products automate all of the steps in the hiring process and provide complete visibility via real time analytics.
The Jobvite integration with Workday will lower cost and implementation time for connecting these leading solutions for recruiting and human capital management. It will enable customers of both solutions to plug Jobvite into their Workday infrastructure and seamlessly share current data across platforms.
“One of the benefits of cloud-based SaaS solutions is the flexibility to choose the best solutions to meet business needs. HR leaders have asked for us to integrate with Workday because it has been built from the ground up for today’s business consumer of web-based services,” said Dan Finnigan, President and Chief Executive Officer of Jobvite. “Now our joint customers can integrate company directory into Jobvite making it easy to engage all employees in referral hiring and manage a productive recruiting process.”
Our companies share a philosophy about enabling employees throughout the company to be productively engaged in managing key business processes. We’re happy to partner with Jobvite to bring valuable social recruiting and applicant tracking innovations to our loyal Workday customers,” said Jeff Pulver, Workday’s vice president, business development.
For more information on Jobvite, please visit www.jobvite.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: Dan Finnigan, HCM, hiring, HR Systems, HRchitect, HRIS, HRMS, Human Capital Management, Jeff Pulver, Jobvite, Matt Lafata, payroll, Recruiting, Workday | Permalink
Posted by mattlafata
October 27, 2011
Recurring Revenues Up by 24%, Total Revenues Up by 19%
HRchitect includes Ultimate Software in our list of top HRIS vendors that businesses should consider. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Ultimate Software (Nasdaq: ULTI), a leading provider of unified human capital management SaaS solutions for global businesses, announced today its financial results for the third quarter of 2011. For the quarter ended September 30, 2011, Ultimate reported recurring revenues of $54.7 million, an increase of 24%, and total revenues of $67.8 million, an increase of 19%, both compared with 2010’s third quarter. GAAP net income for the third quarter of 2011 was $1.1 million, or $0.04 per diluted share, the same as the third quarter of 2010.
For the three months ended September 30, 2011, non-GAAP net income was $4.9 million, or $0.18 per diluted share, versus non-GAAP net income of $3.5 million, or $0.13 per diluted share, for the third quarter of 2010. Non-GAAP net income for both periods excludes non-cash stock-based compensation expense and amortization of acquired intangible assets. See “Use of Non-GAAP Financial Information” below.
“We again performed according to plan for both our recurring and total revenues in this year’s third quarter. Our operating margin was on the positive side of our 12% target at 12.7%, and our customer retention rate remained consistent at greater than 96%,” said Scott Scherr, CEO, president, and founder of Ultimate.
“We strengthened the strategic power of our unified talent management suite with the release of UltiPro Succession Management in the third quarter. We continued to execute in Canada, and our new customers in both our Enterprise and Workplace markets continued the trend of expanding the value of their UltiPro purchases by adding talent management and time management product components.”
Financial Highlights
- Recurring revenues grew by 24% for the third quarter of 2011 compared with 2010’s third quarter, primarily due to revenue growth from our Software-as-a-Service (SaaS) offering. Recurring revenues for the third quarter of 2011 were 81% of total revenues as compared with 77% of total revenues for the same period of last year.
- Ultimate’s annualized retention rate exceeded 96% for its existing recurring revenue customer base.
- The operating income (or operating margin), on a non-GAAP basis, for the third quarter of 2011 was $8.6 million (or 12.7%) compared with $5.8 million (or 10.2%) for the third quarter of 2010.
- Cash flows provided by operating activities for the nine months ended September 30, 2011 increased by 45% to $23.6 million from $16.2 million for the same period in the prior year.
- The combination of cash, cash equivalents, and marketable securities was $52.2 million as of September 30, 2011, compared with $50.2 million as of December 31, 2010.
- Days sales outstanding were 63 days at September 30, 2011, representing a reduction of 9 days compared with days sales outstanding at December 31, 2010.
Stock Repurchase Plan
During the quarter ended September 30, 2011, we repurchased 197,310 shares of our issued and outstanding $0.01 par value common stock (“Common Stock”) for $9.4 million, under our previously announced stock repurchase plan (“Stock Repurchase Plan”). During the nine months ended September 30, 2011, we repurchased 346,988 shares of our issued and outstanding Common Stock for $17.3 million, under our Stock Repurchase Plan. As of September 30, 2011, we had 58,187 shares available for repurchase in the future under our Stock Repurchase Plan.
On October 24, 2011, our Board of Directors extended the Stock Repurchase Plan (originally approved by the Board in late 2000) by authorizing the repurchase of up to 1,000,000 additional shares of our Common Stock. Accordingly, an aggregate of 1,058,187 shares of Common Stock are available for repurchase under the Stock Repurchase Plan as of today’s date. The extent and timing of repurchase transactions will depend on market conditions and other business considerations.
Financial Outlook
Ultimate provides the following financial guidance for the fourth quarter ending December 31, 2011, the 2011 full year and preliminary financial guidance for the 2012 full year:
For the fourth quarter of 2011:
- Recurring revenues of approximately $57.0 million;
- Total revenues of approximately $72.0 million; and
- Operating margin, on a non-GAAP basis (discussed below), of approximately 16%.
For the year 2011:
- Recurring revenues to increase by approximately 25% over 2010;
- Total revenues to increase by approximately 18% over 2010; and
- Operating margin, on a non-GAAP basis (discussed below), of approximately 12%.
For the year 2012, preliminary:
- Recurring revenues to increase by approximately 25% over 2011;
- Total revenues to increase by approximately 23% over 2011; and
- Operating margin, on a non-GAAP basis (discussed below), of approximately 15%.
Operating margin expectations were determined on a non-GAAP basis using the methodologies identified under the caption “Use of Non-GAAP Financial Information” in this press release. Non-cash stock-based compensation expense for 2011 and 2012 is expected to be approximately $15.5 million and $19.0 million, respectively.
For more information on Ultimate Software, please visit www.ultimatesoftware.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: HCM, HR Systems, HRchitect, HRIS, HRMS, Human Capital Management, Matt Lafata, payroll, Talent Management, Ultimate Software | Permalink
Posted by mattlafata
October 26, 2011
Industry Leaders Align to Provide Award-Winning Solutions to Enable a Transformative Workplace
HRchitect featured Saba in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems and top Learning Management Systems vendors that businesses should consider. A.G. Lambert, the VP of Marketing with Saba appeared on the HRchitect WebMingle on August 14, 2009. Matt Lafata with HRchitect attended the 2010 Saba Global Summit and Analyst Day in Boston, MA. Matt Lafata & Tiffany Appleby attended the Saba Global Sales Rally FY12 in June 2011 in Redwood City, CA.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Saba (NASDAQ:SABA), the premier People Cloud provider, today announced at Workday Rising 2011 that it has established a new partnership with Workday, a leader in SaaS-based enterprise solutions for global human capital, payroll and financial management, to provide enterprise-class learning and human capital management (HCM) solutions to joint customers in the cloud. Saba’s leading learning management solutions, delivered via the Saba People Cloud, will be tightly integrated with Workday HCM.
The two organizations’ complementary solutions will provide customers a broad portfolio of human capital management and enterprise learning solutions to drive business impact.
In addition, Saba will use Workday Studio, a powerful development tool that builds sophisticated and highly customizable integrations to and from Workday. Using Workday Studio, a component of Workday’s Integration Cloud, joint customers will be able to reduce cost of integration and speed time to deployments.
Supporting Quotes
“Our customers look for strong integration with best-in-class cloud business applications that deliver greater productivity for their people,” said Jeff Carr, president, global field operations. “We’re very excited about this partnership with Workday, as it will allow Saba and Workday to provide significant value to our joint customers around the globe by delivering an integrated and unique customer experience.”
“We are pleased to have Saba join the Workday ecosystem and leverage the Workday Integration Cloud,” said Jeff Pulver, Workday’s vice president, business development. “Many of Workday’s customers are looking for an integrated HCM and learning solution and Saba has a great track record of success.”
For more information on Saba, please visit www.saba.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Learning Management, Talent Management | Tagged: HRchitect, HRIS, HRMS, Human Capital Management, Learning Management, Matt Lafata, payroll, People Management, Saba, Talent Management, Workday | Permalink
Posted by mattlafata
October 26, 2011
Authors reveal Breakthrough Research that shows Employees Worldwide have Seven Fundamental Needs and Organizations that Meet these Needs Outperform those that Don’t
HRchitect featured Kenexa in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems and top Talent Management Systems vendors that businesses should consider. Derek Bluestone, VP Product Marketing appeared on the HRchitect WebMingle on June 17, 2010. HRchitect’s Matt Lafata, one of the industry’s leading talent management systems analysts, attended the Kenexa Analyst Day in May, 2010 and the Kenexa World Conference in 2009 and 2010.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Organizations can achieve greater success by meeting the seven fundamental needs of employees, according to a new book by Jack Wiley, Ph.D., and Brenda Kowske, Ph.D, titled “RESPECT: Delivering Results by Giving Employees what They Really Want.”
A world authority on the factors that motivate employees and how they perceive their work, Jack Wiley is executive director of the Kenexa High Performance Institute, a division of Kenexa (NASDAQ: KNXA). Over the past 30 years, he has surveyed over 200,000 employees around the world. His conclusion is that there are seven things that employees really want from their managers and their organizations.
Dr. Wiley has summarized the seven wants of employees in the acronym R.E.S.P.E.C.T., which stands for: Recognition, Exciting work, Security of employment, Pay, Education and career growth, Conditions and Truth.
“These seven fundamental needs are the same across different countries, different industries and different job roles,” said Wiley. “The real story from our research, however, is the impact on engagement, productivity, customer service and the bottom line when organizations meet these needs. Their employee engagement level is 117 percent higher; their operational performance is 64 percent higher; their customer satisfaction level is significantly greater and their ‘return on assets’ is up to ten times higher.”
Featuring real-world examples, the book provides practical actions to help managers, executives and HR practitioners to meet the seven needs. It also provides diagnostics to help assess an organization’s areas of vulnerability.
More information about the book and the authors is available at www.respectthebook.com
For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: HR Systems, HR Technology, HRchitect, Jack Wiley, Kenexa, Matt Lafata, Talent Acquisition, Talent Management | Permalink
Posted by mattlafata
October 26, 2011
Revenues Rise 13%, 10% Organic; EPS up 9%
Confirms Fiscal 2012 Forecasts for Revenue Growth of 7% to 9% and EPS Growth of 8% to 10%
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Automatic Data Processing, Inc. (Nasdaq: ADP) reported revenue growth of 13%, 10% organic, to $2.5 billion for the first fiscal quarter ended September 30, 2011, Gary C. Butler, chief executive officer, announced today. Revenue growth benefited 2 percentage points from favorable foreign exchange rates compared with a year ago. Pretax earnings increased 5% and benefited 1 percentage point from favorable foreign exchange rates. Net earnings increased 9% and benefited from a lower effective tax rate in the quarter compared to a year ago. Diluted earnings per share of $0.61 increased 9% from $0.56 a year ago on fewer shares outstanding. ADP acquired 5.9 million shares of its stock for treasury at a cost of about $280 million fiscal year-to-date. Cash and marketable securities were $1.4 billion at September 30, 2011.
First Quarter Discussion
Commenting on the results, Mr. Butler said, “I am pleased with ADP’s results for the first quarter of fiscal 2012. The increase in new business sales during fiscal 2011 and the acquisitions closed last fiscal year contributed to the strong revenue growth in the quarter. As anticipated, the year-over-year pretax margin comparison was negatively impacted by the decline in high-margin client interest revenues resulting from lower interest rates and the impact of last year’s acquisitions.
ADP’s key business metrics continued to trend positively, led by growth in new business sales for Employer Services and PEO Services. These new, incremental recurring revenues are the key to driving future revenue growth. Employer Services’ client revenue retention also improved for the quarter from a year ago. The automotive marketplace is stable and Dealer Services posted strong new business sales.
Employer Services
“Employer Services’ revenues grew 9% for the first quarter, 7% organically. The number of employees on our clients’ payrolls in the United States increased 2.7% for the quarter as measured on a same-store-sales basis for our clients on our AutoPay platform. Worldwide client retention improved 0.2 percentage points for the quarter compared with a year ago. As anticipated, Employer Services’ pretax margin declined 50 basis points for the quarter, but improved 20 basis points excluding a drag of about 70 basis points from last year’s acquisitions.
“Combined Employer Services and PEO Services worldwide new business sales increased 8% for the quarter. New business sales represent annualized recurring revenues anticipated from new orders.
PEO Services
“PEO Services’ revenues increased 17% for the first quarter, all organic. PEO Services’ pretax margin improved 90 basis points for the quarter. Average worksite employees paid by PEO Services increased 13% for the quarter to approximately 242,000.
Dealer Services
“Dealer Services’ revenues grew 18% for the first quarter, 6% organically. Total revenues benefited from acquisitions closed during the first quarter of fiscal 2011. Dealer Services’ pretax margin improved 115 basis points for the quarter. Excluding a drag from last year’s acquisitions of 70 basis points and the positive year-over-year impact of 130 basis points from acquisition-related costs in last year’s first quarter, Dealer Services’ pretax margin improved 55 basis points.
Interest on Funds Held for Clients
“The safety, liquidity, and diversification of our clients’ funds are the foremost objectives of our investment strategy. Client funds are invested in accordance with ADP’s prudent and conservative investment guidelines and the credit quality of the investment portfolio is predominantly AAA/AA.
“For the first quarter, interest on funds held for clients declined $4.9 million, or 3.9%, from $126.8 million to $121.9 million, due to a decline of 50 basis points in the average interest yield to 3.2%, partially offset by an increase of 10% in average client funds balances from $13.8 billion to $15.2 billion.
Fiscal 2012 Forecast
“Since we provided our initial fiscal 2012 forecast, interest rates have declined and the economic environment has become more uncertain. However, we are confirming our total ADP fiscal 2012 forecasts with updates as noted below:
- Total revenues – increase 7% to 9%
- We anticipate that the first quarter’s positive impact from favorable foreign exchange rates will not continue and will be about neutral for the full year
- Diluted earnings per share – increase 8% to 10%, compared with $2.52 earnings per share in fiscal 2011
- Employer Services – revenue growth of about 7% compared with our prior forecast for 6% to 7% growth; pretax margin expansion of about 50 basis points compared with our prior forecast of at least 50 basis points due to the impact of current year acquisitions
- Pays per control – up about 2% for the year compared with our prior estimate of up 1% to 2%
- PEO Services – revenue growth of about 17% compared with our prior forecast for 15% to 17% growth; pretax margin about flat
- Employer Services and PEO Services new business sales – 8% to 10% growth compared to $1.1 billion sold in fiscal 2011
- Dealer Services – revenue growth of 8% to 9%; pretax margin expansion of about 50 basis points. About 2 percentage points of revenue growth is anticipated to result from the full-year effect of the Cobalt acquisition, which was completed during the first quarter of fiscal 2011.
“Interest on funds held for clients is expected to decline $40 to $50 million, or 7% to 9%, from $540.1 million in fiscal 2011. This is based on a decline of 40 to 50 basis points in the expected average interest yield to 2.7% to 2.8%. We continue to anticipate 7% to 8% growth in average client funds balances. This is updated from our previous forecasted decline of $25 to $35 million, or 5% to 6%, based on a decline of 30 to 40 basis points in the expected average interest yield to 2.8% to 2.9%. The interest assumptions in our forecasts are based on Fed Funds futures contracts and forward yield curves as of October 24, 2011. The Fed Funds futures contracts do not anticipate any changes during the fiscal year in the Fed Funds target rate. The three-and-a-half and five-year U.S. government agency rates based on the forward yield curves as of October 24, 2011 were used to forecast new purchase rates for the client extended and client long portfolios, respectively.
“ADP entered fiscal 2012 with positive momentum. While the economic recovery has been weaker in recent months than anticipated at the beginning of the fiscal year, I am nonetheless pleased with our execution as evidenced by ADP’s first quarter results. We continued to invest in our distribution and service capabilities, and in product innovation. As a result, ADP continued to win in the marketplace and I remain optimistic about ADP’s growth opportunities,” Mr. Butler concluded.
For more information on ADP, please visit www.adp.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: ADP, employer services, Gary Butler, HR Systems, HR Technology, HRchitect, HRIS, HRMS, Matt Lafata, PEO Services, Talent Management | Permalink
Posted by mattlafata
October 24, 2011
Investors Include T. Rowe Price, Morgan Stanley Investment Management, Janus Capital Group, and Bezos Expeditions
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Workday, Inc., the leader in SaaS-based enterprise solutions for global human resources (HR), payroll, and financial management, has closed $85 million in Series F financing. The round was led by new investors, including T. Rowe Price, Morgan Stanley Investment Management, Janus Capital Group Inc., and Bezos Expeditions, the personal investment company of Amazon.com founder and CEO, Jeff Bezos.
Workday was founded by Dave Duffield and Aneel Bhusri in 2005 to offer a cloud alternative for mid- and large-sized enterprises saddled with on-premise deployments of legacy software. Today, Workday offers Human Capital Management, Payroll, and Financial Management solutions, making it easy for organizations to rip and replace entire traditional administrative ERP systems. More than 230 companies – accounting for over two million users – have selected Workday.
“We believe the caliber of this group of investors underscores the market opportunity before us. The world’s largest and most global enterprises are moving their business management solutions to the cloud,” said Aneel Bhusri, Workday co-founder and CEO. “With this capital, Workday will continue to expand its core technology, products, go-to-market capability, and administrative infrastructure. Dave and I couldn’t be more thrilled to welcome T. Rowe Price, Morgan Stanley Investment Management, Janus Capital Group, Bezos Expeditions, and the other investors to Workday.”
Allen & Company LLC served as financial adviser to Workday and assisted the company in putting together this financing.
For more information on Workday, please visit www.workday.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Dave Duffield, HCM, HR Systems, HRchitect, HRIS, HRMS, Matt Lafata, payroll, Talent Management, Workday | Permalink
Posted by mattlafata
October 22, 2011
HRchitect featured Cornerstone OnDemand in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems and top Learning Management Systems vendors that businesses should consider. Charles Coy participated in the HRchitect WebMingle on January 16, 2009. Cornerstone OnDemand participated in the Talent Management Systems Beauty Pageant in December 2008, where they were crowned the winner.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Learning and talent management software provider Cornerstone OnDemand (NASDAQ: CSOD) recently announced it has been named as one of the fastest growing software companies in North America by Deloitte’s 2011 Technology Fast 500™. Cornerstone was recognized for the company’s 501 percent fiscal year revenue growth from 2006 to 2010.
“We’re honored to be recognized again by the Deloitte Technology Fast 500 as one of the fastest growing software companies in North America,” said Adam Miller, president and CEO of Cornerstone OnDemand. “Cornerstone’s strong momentum over the past five years is due in large part to our continued commitment to product innovation and the success of our clients, as well as our growing international ecosystem of direct and indirect sales channels. With more than 6 million global users, we now have one of the largest SaaS subscriber bases in the market.”
Organizations featured on the Deloitte Technology Fast 500 list include technology, media, telecommunications, life sciences and clean technology companies. Overall, companies featured on this year’s list achieved revenue growth ranging from 134 percent to 70,211 percent from 2006 to 2010, with an average growth of 1,736 percent.
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Learning Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Adam Miller, Cornerstone OnDemand, Deloitte, HRchitect, Matt Lafata, Talent Management | Permalink
Posted by mattlafata
October 20, 2011
HRchitect includes Kronos in our list of Talent Acquisition Systems that businesses should consider. If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Kronos Incorporated recently announced the October release of the Kronos Retail Labor Index™, a family of metrics and indices that characterize the current state of the demand and supply sides of the labor market within the U.S. retail sector. The October report includes data for September 2011. The analysis and write-up is prepared by Macroeconomic Advisers LLC, and is available on the Kronos Retail Labor Index website.
News Facts
- The Kronos Retail Labor Index: (This index is defined as the ratio of hires to applicants within a given month, expressed as a percentage. A level of 3.0 percent means that for every 100 applications received, three hires occurred). The Kronos Retail Labor Index rose to 3.9 percent in September 2011, reflecting a strong gain in hires and a modest decline in applications, all on a seasonally adjusted basis.
- Retail Hiring Level: The retailers representing 18,362 distributed locations across the U.S. that make up the Kronos®data sample made 38,252 hires (seasonally adjusted) in September 2011, up 12.6 percent from an upwardly revised 33,974 hires in August 2011. The level of hires in September was the highest reading in nearly three years and was 16 percent above its level one year ago.
- Retail Applications Level: The number of applications received by retailers in the Kronos sample fell 1.7 percent to 985,915 in September 2011, from an upwardly revised 1,003,265 in August 2011, all on a seasonally adjusted basis.
- Retail 60-Day Retention Rate: The 60-day retention rate, measured as the number of hires who remain employed for at least the first 60 days divided by the total number of hires made in that month, edged down to 83.4 percent (seasonally adjusted) in May from 84.2 percent in April (Note: There is a four-month lag on this indicator as two months are required to measure whether a hire remained employed for 60 days and Kronos customers have two months to return data on separations.)
Supporting Quotes
Chris Varvares, senior managing director and co-founder, Macroeconomic Advisers “The Kronos Retail Labor Index rose a half percentage point in September to 3.9 percent. Underlying the increase in the Index was a strong gain in retail hiring, which posted a 12.6 percent increase from August to September, to 38,252 hires, the highest level in nearly three years. The recent sharp uptick in hiring, coupled with a rise in monthly applications since earlier this year, suggests that retail labor market activity is picking up.”
Supporting Resources
- Organizations that use Kronos hiring solutions employ approximately 15 percent of the U.S. consumer retail labor market, providing Kronos with a unique set of data on employee job applications, hires, and length of service.
- The Kronos Retail Labor Index is released on a monthly basis. Go to www.kronos.com/retail-labor-index to access: the full report; a schedule of upcoming Retail Labor Index release dates; the Retail Labor Index methodology; and downloadable graphics.
For more information on Kronos, please visit www.kronos.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Applicant Tracking, HRchitect, Kronos, labor, Matt Lafata, metrics, retail, Talent Acquisition, Talent Management | Permalink
Posted by mattlafata
October 20, 2011
HRchitect featured SuccessFactors in our release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Management Systems vendors that businesses should consider. Matt Lafata and Tiffany Appleby from HRchitect attended and sponsored the SuccessConnect event in San Francisco in May 2011 and the Insights event in San Diego in Oct 2011.
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
Recently, SuccessFactors, Inc. (NYSE: SFSF), the global leader in business execution software, announced an agreement with VMware to empower its customers and partners to extend SuccessFactors applications using the VMware Cloud Foundry(TM) Platform as a Service (PaaS) beta.
“We’re thrilled to launch our Cloud Foundry(TM) project with SuccessFactors. Cloud Foundry continues to gain traction as the PaaS of choice for modern and open cloud application development,” said Paul Maritz, CEO of VMware. “This new project takes the Cloud Foundry vision one step further, enabling customers to extend and build custom applications around SuccessFactors to address specific business and vertical use cases, without restricting the choice of development frameworks, data or application services. Cloud Foundry helps ensure customers can build applications using open and industry-standard development technologies while preserving the flexibility to deploy across both public and private clouds. SuccessFactors and VMware are both committed to enabling custom development and integration across a broad ecosystem of SaaS providers.”
“This agreement is the revolution the cloud industry needs. Our announcement with VMware represents a paradigm shift in the way companies will consume cloud services. We believe SuccessFactors has the world’s largest cloud deployments, and we plan to empower our 3,500+ customers with 15 million subscription seats and our partners to rapidly develop custom extensions and integrations of our solutions on Cloud Foundry(TM) in an open and non-proprietary manner. This open approach will allow CIOs to leverage the skills they already have on their team, and further unlock the value from their investment with SuccessFactors,” said Lars Dalgaard, founder and CEO, SuccessFactors. “This is a strategic move for our customers because as their use of our various applications is increasing, in many cases customers are using 5-10 SuccessFactors applications, the ability to interface and extend into other business areas is irresistible for them. Where we don’t want to build them ourselves, through Cloud Foundry we can extend business data from our apps into company specific apps and extensions connecting us deeper into our customers’ business, at a low cost to them and without cost to us. The cloud belongs to all of us and this agreement presents CIOs and business leaders with immense flexibility to extract much more value from their public and private clouds, and we believe, create unseen cross functional business value and multi-directional business execution data in and out of SuccessFactors’ BizX Suite. This significantly increases its value for existing customers and makes it much more attractive and lower risk to new customers.”
SuccessFactors was able to build its first application on CloudFoundry.com within hours that integrated Google Maps data with SuccessFactors’ employee location data from its next generation Core HR Information System platform, Employee Central. Today, SuccessFactors’ customers and partners have the same ability to easily build, test and run their applications on CloudFoundry.com. In the near term, the new SuccessFactors integration with Cloud Foundry will enable customers and partners to combine its capabilities with other web applications.
“The unique competitive advantage of this platform is that it is open and enables development on standard development languages such as web service APIs, Java, PHP, Ruby-on-Rails, HTML, Ajax, Javascript and the Spring Framework (Java),” said Aaron Au, co-founder and chief technology officer, SuccessFactors. “Our customers can create a Cloud Foundry account, integrate with SuccessFactors data via our APIs and create, deploy and scale their own applications within hours. We believe this is the future of enterprise cloud computing.”
For more information on SuccessFactors, please visit www.successfactors.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Learning Management, Recruiting, Talent Acquisition, Talent Management | Tagged: Business Execution, cloud foundry, HR Systems, HR Technology, HRchitect, Lars Dalgaard, Matt Lafata, SuccessFactors, Talent Management, VMware | Permalink
Posted by mattlafata
October 20, 2011
Multimedia recruitment platform provider raises funds to scale operations and help global companies find the right talent anywhere in the world
If you are looking for a new Talent Management System, or any HR system, don’t rely solely on “recommendations” or published reports. Do yourself a huge favor and talk to HRchitect first. After 14 years, HRchitect has unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation. Simply put, do not invest in any kind of HR technology without consulting with the experts first. HRchitect is always available to help!
OVIA, an emerging leader in multimedia recruitment technology, today announced their first funding round led by global venturecapital firm, DCM. The new funding will be used to further enhance OVIA’s technology platform, expand sales and marketing, and add key employees to its San Francisco headquarters.
Launched in January 2011, OVIA’s multimedia recruitment screening technology is already helping several high-growth companies including Groupon, Intel, and Salesforce, find passionate, qualified candidates. According to a recent talent acquisition survey from Aberdeen Group, the number of companies using video as part of the hiring process has sharply increased in the last year. OVIA’s platform taps into this trend by helping employers get to know candidates before they arecalled for an in-person interview, enabling them to invest the right resources in the right candidates. Tens of thousands of interviews have been sent through OVIA’s global video screening solution, and that number is growing rapidly as is the number of organizations using OVIA around the world.
With DCM on board as an investor, OVIA joins its roster of successful companies driving critical improvements in online recruitment including HireRight, the leaders in background checks, and 51Job, the leading job board in China.
“The new wave of recruiting technology centers around video technology that is becoming more ubiquitous via webcams, mobile device cameras and video services like uStream and Youtube,” said David Chao, co-founder and general partner, DCM. “Companies today are wasting time and resources on unqualified candidates. OVIA’s video technology helps employers quickly uncover key traits of a candidate, share with others, andfocus in on the right candidates. OVIA turbo charges the conventional process and the ROI proposition is hard to beat.”
OVIA’s video screening experience is unique in that it replicates an actual interview for both employers and job candidates. In contrast to other services where companies only provide typed questions, OVIA provides an easy way for companies to record their questions in advance of the interview, humanizing the video interview process for candidates. Additionally, OVIA becomes an extension of the organization’s brand, providing job candidates with important insight into the organization’s brand, values and culture, during the entire OVIA process.
“Our goal is to disrupt and improve the recruitment process by leveraging technology to bring back the true essence of recruitment: people getting to know people,” said Rodrigo Martinez, CEO and co-founder of OVIA. “We are excited to have DCM join us as a partner in reaching our vision of helping employers find the best, most passionate candidates – the candidates that are truly going to make a difference for them. And we also want to help job seekers find the jobs that they love. DCM’s experience in the recruitment space will be invaluable to us as we grow towards that vision.”
DCM’s David Chao, who serves on the 51Job Board and whose past experience includes work at Recruit, the largest HR company in Japan will also serve on OVIA’s Board of Directors. Joining this Series A round will be Dave McClure of 500 Startups, who also helped incubate the company.
For more information on OVIA, please visit www.oviahr.com
Matt Lafata, HRchitect
Leave a Comment » | HCM, HR, HR Technology, Human Capital Management, Recruiting, Talent Acquisition, Talent Management | Tagged: david chao, DCM, HRchitect, Matt Lafata, OVIA, Recruiting, Rodrigo Martinez, Talent Acquisition, video | Permalink
Posted by mattlafata
