Globoforce Redefines Performance Management with Launch of Talent Maps…from Globoforce

May 19, 2012

 

New visual tools leverage crowdsourced recognition for actionable insight on employee performance and culture

 

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 15 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!

 

Globoforce® (www.globoforce.com), the world’s leading provider of employee recognition solutions, today announced Talent Maps™, the industry’s first and only solution that connects employee recognition data with employee performance data. The new tool helps HR and business leaders more effectively manage their talent and culture by leveraging crowdsourced recognition and feedback. With this new level of insight, managers finally have the ongoing data to fill the void in traditional performance reviews.

Annual performance reviews have long come under criticism for their infrequency and single viewpoint about employee performance. With Talent Maps, business and HR leaders now have an easier, more effective way to evaluate their global talent. Through data populated by peer-to-peer recognition across the company, HR and business leaders can see firsthand who the top performers and influencers are within teams, departments, and the company.

This knowledge and data can be used to identify high potential, high performance individuals for succession planning, flight risk assessment, and leadership development. In addition, managers gain actionable data for more effective day-to-day team management and individual performance assessment.

“Social recognition is the next big disruptor within HR,” said Grant Beckett, vice president of product for Globoforce. “Its high levels of adoption across an entire workforce make it the ideal way to evaluate employee performance and influence. With Talent Maps, we take this crowdsourced feedback data and plot it against performance appraisal ratings. Combining these two data points delivers a level of insight about a company’s talent that has never been available in an HR system before.”

According to Gartner’s recent report, 2012 Strategic Road Map for Employee Performance Management, social recognition programs can help improve performance while decreasing reliance solely on manager and executive feedback. In the report, Gartner Managing Vice President Jim Holincheck writes that “leading organizations will start to move toward more bottom-up feedback, recognition and rewards.” Managers can see the level of frequency of recognition and performance feedback for individual employees. As a result, “senior executives can use this data to see if manager performance decisions align with what coworkers indicate through their actions.”

“Our recognition program with Globoforce is one of the critical programs we use to drive employee engagement and elevate business performance,” said Amy Montefinese, vice president, global total rewards and human resources operations at Premier Farnell. “Now, we will have a way to translate our recognition awards into actionable data to ensure our top performers and high potential employees are being recognized. By aligning recognition awards against performance review ratings, we will also be able to ensure our pay for performance philosophy is consistently executed across our global business.”

With Globoforce’s Talent Maps, HR and business leaders can also:

Assess company and individual department alignment to company values, showing how “everyday” behaviors impact business and cultural goals

Provide managers with an easy-to-use tool that visually maps out individual and team performance while highlighting hidden talent

Leverage the data from  ongoing social recognition programs to show which employees are driving the business forward

Talent Maps is already gaining recognition for its impact on the industry. Last week, Talent Maps was named a Finalist in the Best New Product or Service – Software – Human Capital Management Solution category in The 2012 American Business Awards.

Below is a sample of commentary from the HR analyst community about this launch:

“Performance management is only as good as its data. With this release, Globoforce uses recognition as the central data component for performance and potential indicators. The result is a useful, compelling data set of organizational relationships and performance assessments that are created in the context of getting work done. By further leveraging this data into performance reviews, business and HR leaders will be able to align ratings with the performance and behaviors that everyone across the organization recognizes on a daily basis.”

-     Yvette Cameron, vice president and principal analyst, Constellation Research

“Social recognition is offering a new vantage point on employee engagement and workforce performance.  As companies strive to identify high-potential, high-performance individuals, recognition data offers one of the most compelling use cases I’ve seen in HR. This is a burgeoning new technology development that will reshape performance management over the next three to five years, giving HR leaders the insight about their talent they have long sought.”

Jim Holincheck, managing vice president, Gartner Inc.

“Organizations are hungry for the data that will help them make better decisions about every aspect of their business, and employee performance management is mission critical. Globoforce’s Talent Maps not only provides multiple streams of actionable data to manage individual performance, it also provides the organization with a cultural diagnostic that gives visibility into engagement, goal alignment, and the informal networks that drive organizational change and results.”

Mollie Lombardi, research director, HCM, Aberdeen Group

For more information on Globoforce, please visit www.globoforce.com

To learn more about HRchitect and how we can help your organization, please visit www.HRchitect.com. HRchitect is the leader in HR systems strategic consulting.  As the premier Human Capital Management (HCM) and Talent Management Systems consulting firm, we offer end-to-end HR technology consulting services focused around strategic planning, evaluation/selection, project management and implementation of HR systems, Talent Management Systems, Talent Acquisition Systems, and Workforce Management software. After more than 15 years in business working on over 1800 successful engagements for more than 800 clients across the globe, HRchitect is a name you can trust as your one-stop shop for all your HR technology consulting needs.

 
Matt Lafata, HRchitect


SHRM/Globoforce Survey Reveals Growing Impact of Recognition Programs on Performance Management…from Globoforce

April 16, 2012

More than half of companies with recognition programs also observe higher levels of employee engagement, retention, and productivity

 

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 15 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!

Sixty-four percent of companies that have an employee recognition program say their employees are rewarded according to job performance versus just 36 percent of organizations who do not have a recognition program in place. These are just two of the noteworthy statistics from the SHRM/Globoforce Employee Recognition Survey*, announced today by Globoforce® ( http://www.globoforce.com ), the world’s leading provider of employee recognition solutions, and Society for Human Resource Management (SHRM), the world’s largest association devoted to human resource management. To download the Winter 2012 report, click here.

The SHRM/Globoforce semi-annual survey examines the current state of HR leaders’ employee engagement and recognition practices and their impact on performance management. Today’s leaders face increasing competition to hire skilled workers and retain top talent — a business’s number one asset. The survey reveals that employee engagement is still the number one priority among HR professionals. The recent survey also uncovers a connection between recognition programs and engagement and retention levels, all crucial elements amidst an awakening job market.

“We’re witnessing intense competition for talent that requires new approaches for energizing, engaging, and evaluating a global workforce,” said Eric Mosley, CEO of Globoforce. “Performance management has long been viewed as the underlying way this is done. Yet, as this latest survey shows, the lack of ongoing feedback continues to be its missing ingredient. By using a social performance management strategy powered by employee recognition, HR leaders can fill that critical gap of feedback. The result is higher levels of employee engagement, satisfaction, and productivity.”

“The latest SHRM/Globoforce survey shows a growing introspection among HR leaders. They know how critical HR strategies will be in 2012 and well into the future,” said Mark Schmit, SHRM’s vice president of research. “By taking the next step beyond simply talking about employee engagement and proactively addressing it with tools like employee recognition, HR leaders will have greater success in elevating all key HR metrics.”

Among the 770 HR leaders who responded to the survey, key insights include:

Employee engagement is the top HR challenge but underutilized

According to the survey, 94 percent of HR leaders say employee engagement is an important or very important workforce challenge they currently face. However, only 42 percent of respondents currently track employee engagement levels, missing an opportunity to address low engagement levels within the organization with targeted, proactive strategies. In fact, among companies that measure engagement (versus those that do not), HR leaders say:

– More employees feel rewarded according to job performance (69 percent vs. 49 percent)

– More managers acknowledge and appreciate employees (56 percent vs. 46 percent)

– More employees are satisfied with their levels of recognition (37 percent vs. 23 percent)

Employee recognition fills the feedback gap for effective employee performance management

The survey finds that 45 percent of HR leaders do not think annual performance reviews are an accurate appraisal for employee’s work while 42 percent do not think employees are rewarded according to their job performance. Examining this by companies with recognition programs versus those without:

– 55 percent of companies with recognition programs say their managers effectively acknowledge employees.

– Conversely, only 36 percent of companies without recognition programs feel employees are effectively acknowledged and appreciated by managers.

Employee recognition delivers ROI against key HR metrics

Among organizations that measure the ROI of their employee recognition programs, HR leaders observed increases in key metrics. More than half of survey respondents saw increases in productivity, customer/employee retention, employee engagement, return on profit margin, and return on equity as a result of their employee recognition program.

Percent of HR leaders who say they observed an increase in these metrics as a result of their recognition program:

– Employee productivity – 63 percent

– Employee engagement – 61 percent

– Return on profit margin – 58 percent

– Customer retention – 52 percent

– Employee retention – 51 percent

– Return on equity – 50 percent

To download the 2012 SHRM/Globoforce Employee Recognition Report, visit: http://go.globoforce.com/SHRM-winter-2012-report_announcement.html

To view the February 2012 webinar on the SHRM/Globoforce survey findings, visit: http://globoforce.com/Feb8_2012_webinar

To learn more about HRchitect’s expertise in HR technology strategy, selection and implementation services, and how HRchitect can help your organization, please visit www.HRchitect.com
Matt Lafata, HRchitect


Thirty-Eight Percent of Workers Seek New Jobs, According to Globoforce Workforce Mood Tracker…from Globoforce

October 1, 2011

 

Semi-annual survey reveals lack of employee recognition a driving factor behind increased employee dissatisfaction and turnover

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!

 

Globoforce, the world’s leading provider of SaaS-based employee recognition solutions, today announced the results of its latest Globoforce Workforce Mood Tracker™. The semi-annual survey* provides key insights into the current pulse of the U.S. worker. According to the September 2011 report, a startling percentage of employed Americans are considering leaving their jobs despite an uncertain economy with a lack of new job creation. The September 2011 study also reveals a direct correlation between employees’ intent to look for a new job and the level of recognition they receive at work. To download this latest report, visit: http://www.globoforce.com/mood-tracker-september-2011.

Overall six-month trends reveal higher worker dissatisfaction

According to the September 2011 Workforce Mood Tracker, employees are less satisfied in their current job and feel less appreciated for the work they do. In fact, when compared to the February 2011 results, the latest survey shows alarming trends in the US workforce:

 

  • Thirty-eight percent of employees are actively looking for a new job, up from 36 percent
  • Thirty-nine percent of workers don’t feel appreciated at work, up from 32 percent
  • Fifty-two percent are dissatisfied with the level of recognition they receive, up from 41 percent

 

Companies that recognize employees see lower turnover

According to the September 2011 survey, nearly half of all surveyed said they would leave their current job for a company that clearly recognized employees for their efforts and contributions. The survey also reveals the connection between a lack of recognition and potential turnover. Among respondents who stated they plan to search for a new job this year:

 

  • Only 24 percent are satisfied with the level of recognition they receive at work. Conversely, 63 percent of employees who have no plans of leaving are satisfied with their level of recognition.
  • Thirty-two percent have been recognized at work in the past three months. By contrast, 52 percent of those who have no intention of leaving had been recognized in the past three months.

 

Wake up call for businesses – appreciate employees and get more employee productivity

The September 2011 Mood Tracker survey reveals the majority of employees surveyed would perform better and have higher job satisfaction if their employer acknowledged their efforts and appreciated them for their work on a regular basis. Highlights from the study:

  • Seventy-eight percent of U.S. workers said being recognized motivates them in their job
  • Sixty-nine percent stated they would work harder if they felt their efforts were better recognized

 

“It’s been often stated that we’re in the midst of a jobless recovery. While that may be true, it’s critical for companies to avoid a ‘thankless recovery’ for their current employees, as that could have damaging consequences on employee productivity, company culture, and employee retention,” said Eric Mosley, CEO of Globoforce. “Our latest survey shows that if you recognize and appreciate your employees in relevant ways, they will want to continue to work for you.”

* The Globoforce Workforce Mood Tracker study was commissioned by Globoforce and conducted on August 5-6, 2011, by independent market research firm MarketTools, Inc., through an online panel of fully employed persons (age 18 or older) at companies with 500+ employees in the United States. There were 630 responses generated for the survey, resulting in a margin of error of +/- 3.9 percentage points at the 95 percent level of confidence. To view the full survey results, please view the September 2011 Globoforce Mood Tracker Report: http://www.globoforce.com/mood-tracker-september-2011

For more information on Globoforce, please visit www.globoforce.com

 

Matt Lafata, HRchitect


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