August 26, 2009
Despite economy, Cornerstone achieves record-level success in first half of 2009, announces strategic investments across the company to ready growth into 2010
HRchitect featured Cornerstone OnDemand 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. 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. Cornerstone OnDemand also participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow event. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Cornerstone OnDemand Inc., a leading provider of on-demand learning and talent management software and services, today announced that despite the current economic climate, the company has performed at record levels for the third straight quarter. New client bookings for the first half of 2009 were up by more than 100 percent from the previous year, led by the addition of more than 742,000 new users. Named among the top 100 fastest-growing private software companies in the U.S. by Inc. magazine, Cornerstone also recently announced plans for investing in the company’s continued growth.
“Momentum is in Cornerstone’s favor,” said Adam Miller, President and CEO of Cornerstone OnDemand. “Now is the time for us to step on the gas, advance the company’s strong competitive position, and ready the company for massive growth into 2010. This includes investing in the success of our clients, in the quality and innovation of our software, in direct and indirect sales distribution, and in the development and success of Cornerstone’s valued team members.”
Cornerstone is broadening the scope of its alliances operations in an effort to scale existing partner initiatives, expand the company’s referral network and improve partner enablement. To lead these efforts, the company has promoted former Senior Director of Strategy and Research, David Somers, to Vice President of Alliances and Strategy.
In addition to leveraging its relationship with ADP® Employer Services, the company is expanding its direct sales teams in order to increase Cornerstone’s share of mid-market business. The move supports the recent launch of Cornerstone Business Edition, the company’s talent management solution built specifically for medium-sized organizations. The sales team also is bolstering its vertical expertise, hiring specialists in key market segments such as healthcare and the public sector.
Strategic investments and hires in other areas across the company, such as client services, consulting, product development and software infrastructure, allow Cornerstone to continue to scale its operations, serve its rapidly growing client base, further extend its international reach and significantly expand its market share.
“While other talent management software vendors have faced workforce reductions, mergers and consolidations, Cornerstone has been the exception,” commented Miller. “We are continuing to invest to ensure the success of our clients and the strength of our team.”
Other company highlights include:
- Global Client Wins: To date, more than 2.7 million active users in 141 countries use Cornerstone’s Software-as-a-Service (SaaS)-based solutions. Second quarter client wins include American Bankers Association; Money Advice Trust; New York Presbyterian Hospital; ValleyCrest; two respected international non-profit organizations; a UK-based investment and insurance firm; and a leading European financial services company, among others.
- Product Innovation: In May, the company expanded its Succession Management platform. Designed to help organizations better engage, motivate and retain valued employees, features such as detailed resumes, career preferences and job profiles lay the groundwork for major new functionality focused on employee career management.
- Strategic Alliances: Cornerstone has significantly expanded its global footprint via new strategic reseller relationships with premier organizations such as ADP Employer Services, with more than 550,000 clients worldwide, and Australia-based Talent2, the leading talent management and HR outsourcing firm in the Asia-Pacific region.
- Empowering Communities: The company continues to expand the Cornerstone OnDemand Foundation, which leverages the company’s expertise in workforce development, education and software deployment, as well as other organizational assets, for philanthropic and community benefit. United Way of the Bay Area and Goodwill Industries of San Francisco, San Mateo and Marin Counties have joined Teach for America, Oxfam America and Save the Children as strategic non-profit partners of the Foundation.
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.
Matt Lafata, HRchitect
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Posted by mattlafata
August 26, 2009
HRchitect featured SilkRoad in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. SilkRoad participated in the Onboarding Systems panel on June 10, 2009 as part of theHRshow. SilkRoad competed in the HRchitect Beauty Pageant on Onboarding Systems in January 2009 where they were crowned the winner. Brian Platz, EVP and COO of SilkRoad also appeared on the HRchitect WebMingle on March 20, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Pinstripe, Inc., a privately-held HR firm and one of the nation’s top ten recruitment process outsourcing (RPO) providers, and SilkRoad technology, a leading provider of talent management solutions, today announced a partnership to provide Pinstripe clients access to SilkRoad’s Life Suite of HR Solutions.
According to the terms of the partnership, SilkRoad will integrate selected technology solutions into Pinstripe’s client service platform. The first implementation, RedCarpet for onboarding and life events, facilitates a positive new hire onboarding experience contributing to employee motivation, satisfaction, productivity, engagement and retention. The service also offers a life events, and offboarding component to better manage and ease these challenging employee transitions.
“SilkRoad is a wonderful complement to Pinstripe’s innovative approach to recruiting and talent management. As the recruiting industry’s leading innovator this is a natural evolution of our client service offering,” states Pinstripe CEO Sue Marks. “By joining forces, we are able to provide our clients a cutting-edge employee onboarding platform that directly impacts new hire satisfaction and day one readiness,” Sue explained. “The technology also empowers us to better manage employee transitions and offboarding on behalf of our clients — keeping moral and productivity up during times of change,” she continued.
“We are thrilled by our partnership with Pinstripe,” said Brian Platz, COO of SilkRoad technology. “Pinstripe is known for applying the latest technology solutions to their RPO and recruiting partnerships. Their selection of our software is an endorsement of the quality of our product and underscores our leading market position. With Pinstripe’s commitment to staying one step ahead of the technology curve, we expect this to be the beginning of a long and innovative partnership,” he concluded.
For more information on SilkRoad, please visit www.silkroad.com
Matt Lafata, HRchitect
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Posted by mattlafata
August 22, 2009
This eBook Discusses the Use of Social Networks and Employment Law
HRchitect includes Peopleclick in our list of top Talent Acquisition Systems vendors that businesses should consider. Peopleclick participated in the Talent Acquisition Systems panel on June 10, 2009 as part of theHRshow event. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Peopleclick, Inc., the leading global provider of talent acquisition and workforce compliance and diversity solutions, announces today the release of the complimentary eBook, Social Networks and Employment Law. Dr. Lisa Harpe from the Peopleclick® Research Institute and author of the eBook, discusses the compliance regulations HR professionals encounter when using social and professional networking sites as part of their talent acquisition strategy. Click here to download the complimentary eBook from Peopleclick.
As the popularity of social and professional networking rises, recruiters, organizations and candidates are using Web 2.0 technologies to gain insight into each other. However, there are several federal anti-discrimination regulations that must be considered when organizations utilize these sites for recruiting and hiring purposes. In the eBook, Dr. Harpe reviews how organizations can avoid disparate treatment and disparate impact claims when using social networks for recruiting.
“Facebook, LinkedIn and Twitter offer an excess of information about job seekers applying for any open requisition in the marketplace today,” said Dr. Lisa Harpe, PhD, Sr. Consultant and Industrial Organizational Psychologist at the Peopleclick® Research Institute. “The novelty around these sites overshadows the fact that using these technologies for recruiting and hiring carries with it many legal obligations. Therefore, it is crucial to understand the laws and regulations behind using these sites in the talent acquisition process as employers utilize these networks to consider individuals for employment, verify employment data, evaluate qualifications or use an applicant’s leisure activities as a basis for making hiring decisions. All methods used to make employment decisions are considered selection procedures and subject to anti-discrimination regulations.”
As social networks gain momentum as a viable resource for candidates to job search and for organizations to connect with potential applicants, it is important to be aware of the consequences of using these technologies for sourcing, recruiting and hiring. By following the recommendations found in the Social Networks and Employment Law eBook, organizations can be confident they are using social networking as a part of their talent acquisition strategy without discrimination and in compliance with federal law.
To learn more about Peopleclick® RMS and the Peopleclick® Research Institute, www.peopleclick.com or call 877-820-4400.
Matt Lafata, HRchitect
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Posted by mattlafata
August 19, 2009
Kenexa Recruiter BrassRing Users Can Gain Complete Set of Tools for Analyzing Recruiting Data
HRchitect featured Kenexa in our May 2008 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. Kenexa participated in the Talent Management Systems panel and the Talent Acquisition Systems panel on June 10, 2009 as part of theHRshow event. Ron Hanscome, VP of Product Strategy with Kenexa appeared on the HRchitect WebMingle on June 26, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Kenexa (NASDAQ:KNXA), a global provider of business solutions for human resources, today announced a partnership with QlikTech, the world’s fastest growing business intelligence company. Under the terms of the agreement, QlikTech’s award-winning business analysis solution, QlikView, is integrated with Kenexa’s global recruiting solution Kenexa Recruiter® BrassRing (KRB) empowering KRB customers with a complete set of business analytics tools to further measure and manage their global hiring processes.
The award-winning Kenexa Recruiter BrassRing is highly configurable and scalable, meeting the needs of companies with complex recruiting processes as well as global organizations with requirements across multiple regions and languages. KRB helps organizations efficiently hire the best talent in emerging markets and comply with a wide range of country-specific regulations. With QlikTech’s patented technology, KRB customers can use the powerful and intuitive business analytics tools to gain valuable insight into their recruitment activities and processes.
“In this hiring landscape and weakened economy, hiring managers must rationalize increased candidate volume against shrinking budgets. That’s why it’s critical for our customers to have complete visibility into their hiring practices in order to successfully source talented candidates and maximize the allocation of valuable resources,” said Barrett Richardson, director of product management, Kenexa Recruiter BrassRing. “KRB’s reporting tools are world-class. By adding business analytics, our customers gain the ability to quickly analyze business critical data, monitor the hiring processes, and create meaningful what-if scenarios to improve their hiring efficiency and prepare for the economic resurgence.”
Using the new business analytics, information can be explored intuitively and visually, with drill-down detail in a few clicks, delivering accurate answers and better insights for better business performance. Described as “one of the hotter business-intelligence-software companies around” by Time, QlikTech offers an award-winning approach that makes the business analytics tools intuitive to learn, fast to deploy, simple to change and able to scale to analyze billions of records instantly.
“Pairing QlikView’s easy-to-use yet comprehensive analytics with Kenexa Recruiter BrassRing’s user-friendly global recruiting solution enables companies to access a wealth of information on their recruitment processes,” commented Anthony Deighton, senior vice president of Marketing, QlikTech.
For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect
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Posted by mattlafata
August 19, 2009
Third-annual Inc. 5000 list recognizes Cornerstone for three-year sales growth of 278 percent; also ranked among the top 100 Los Angeles-area companies
HRchitect featured Cornerstone OnDemand 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. 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. Cornerstone OnDemand also participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow event. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Inc. magazine has ranked Cornerstone OnDemand Inc. among the top 100 fastest growing private software companies in the U.S. (no. 69) as part of its third-annual Inc. 5000 list. Also ranked among the top 100 Los Angeles-area companies (no. 75), Cornerstone was recognized for its three-year sales growth of 278 percent since 2005. Overall, the company ranked at no. 1,136 on the Inc. 5000, advancing more than a thousand positions since the list launched in 2007.
A leading provider of learning and talent management software and services, Cornerstone continues to outperform its competitors despite current economic conditions. In addition to triple-digit growth of new client bookings and a 250 percent surge in active users of its Software-as-a-Service (SaaS)-based solution since last year, the company is significantly expanding its global reach via a new relationship with ADP® Employer Services, which has more than 550,000 clients worldwide.
“We are honored to be recognized by Inc. magazine as one of the country’s fastest growing software companies,” said Adam Miller, President and CEO of Cornerstone OnDemand. “Cornerstone has grown at a record pace over the past three years, thanks to industry-leading product innovation, best-in-class client service, global expansion, and the success of our sales teams and reseller channels. This strong momentum puts us in an excellent competitive position to further establish Cornerstone as the top choice for companies investing in the development and management of their most valuable asset: their employees.”
Miller recently was named 2009 CEO of the Year by the Technology Council of Southern California. The award recognizes the leader of a Southern-California-based technology company that has best-in-class performance in areas such as profitability, team-building and product innovation.
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.
Matt Lafata, HRchitect
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Posted by mattlafata
August 15, 2009
HRchitect featured Cornerstone OnDemand 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. 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. Cornerstone OnDemand also participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow event. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
To support its continued global expansion, Cornerstone OnDemand announced it is partnering with Talent2, the leading talent management and HR outsourcing firm in the Asia Pacific (APAC) region. Talent2 will resell Cornerstone’s Software-as-a-Service (SaaS)-based talent management suite – including solutions for learning management, compliance, employee performance management, onboarding, succession planning, compensation, enterprise social networking, and more – in markets such as Australia, New Zealand, Singapore, Hong Kong and Japan.
Josh Bersin, president of industry analyst firm Bersin & Associates, estimates that the size of the global talent management systems market will reach $2.4 billion in 2010. “We would put the APAC market at close to $250 million today and project the growth rate to be about three times the rate of the U.S. and Europe, primarily because the economies there are growing at a much faster pace,” commented Bersin.
“More companies in the Asia Pacific region are looking to invest in SaaS solutions for talent management because the total operational cost of traditional, on-premise software is too high,” said Adam Miller, President and CEO of Cornerstone OnDemand. “Partnering with Talent2, which has a strong presence in APAC, allows Cornerstone to immediately take advantage of these new market opportunities. Our formidable network of strategic alliances worldwide, combined with the success of our team in EMEA, continue to play a key role in the rapid expansion of Cornerstone’s global footprint.”
Headquartered in Australia, Talent2 specializes in helping organizations with HR staffing and talent management needs. The company’s outsourcing services include executive search and recruitment, Human Resources Information Systems (HRIS), payroll, and consulting and learning. Clients include blue-chip companies such as Coles Group Ltd., Johnson & Johnson Pacific, Unisys, QBE Insurance and Telstra, as well as many Australian universities and government departments.
“Our strategic relationship with a talent management software category leader such as Cornerstone OnDemand is a perfect complement to Talent2’s existing learning and HR applications portfolio,” said Peter Goldrick, Asia-Pacific General Manager for Talent2’s Optimise division. “In the past year, we have seen significant growing interest and demand for integrated talent management software in markets such as Australia, Singapore, Hong Kong and Japan. With Cornerstone, we are now able to offer our clients a comprehensive, best-in-class learning and talent management software solution as an integral component of our Learning Outsourcing and talent management services.”
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.com.
Matt Lafata, HRchitect
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Posted by mattlafata
August 14, 2009
Saba Centra Enables Organizations to Reduce Costs and Improve Collaboration Among Globally Distributed Employees, Customers and Partners
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. Saba participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow. A.G. Lambert, the VP of Marketing with Saba will appear on the HRchitect WebMingle on August 14, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Saba (NASDAQ: SABA), the premier people management software and services provider, today announced that it has been positioned in the Visionaries Quadrant of the 2009 Gartner Magic Quadrant for Web Conferencing.1 The Magic Quadrant positions vendors according to their ability to execute and their completeness of vision.
According to Gartner, “The demand for Web conferencing has increased due to economic pressures and recent enterprise concerns and mandates about reducing travel costs. Web conferencing tools are perhaps one of the easiest to measure from a return on investment (ROI) perspective. It is fairly easy to determine potential cost savings from travel reduction in replacing face-to-face meetings with Web conferencing. However, the benefits include more than just travel reduction. Web conferencing enables real-time interactive information sharing with use cases ranging from team collaboration to training and support.”
“Saba Centra is used by some of the world’s leading organizations like Deloitte, IBM, and the U.S. Army to facilitate high-impact Web conferencing, collaboration, and learning across their organizations,” said A.G. Lambert, vice president of marketing for Saba. “We believe being placed in the Visionaries Quadrant is confirmation of the value of providing our customers with proven, innovative Web conferencing that helps improve organizational effectiveness, creates a learning culture and delivers measurable ROI.”
As organizations continue to look at ways to reduce training and meeting costs, Saba Centra helps create an optimal online experience—regardless of location or platform—to drive increased adoption, connect people with expertise and improve organizational productivity. Designed to meet the needs of the enterprise, Saba Centra is an industry-leading Web conferencing and collaboration solution that enables employees, customers, and partners to learn, interact, and exchange knowledge online. By making it easy to capture and share knowledge as it happens, Saba Centra increases the value of session content and improves collaboration among globally distributed employees, customers, and partners.
For more information on Saba, please visit www.saba.com
Matt Lafata, HRchitect
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Posted by mattlafata
August 9, 2009
HRchitect featured Kenexa in our May 2008 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. Kenexa participated in the Talent Management Systems panel and the Talent Acquisition Systems panel on June 10, 2009 as part of theHRshow event. Ron Hanscome, VP of Product Strategy with Kenexa appeared on the HRchitect WebMingle on June 26, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Kenexa (Nasdaq: KNXA), a global provider of business solutions for human resources, today announced operating results for the second quarter ended June 30, 2009.
For the second quarter of 2009, Kenexa reported total revenues of $39.5 million, a sequential increase compared to $38.8 million for the first quarter of 2009 and compared to $56.4 million for the second quarter of 2008. Subscription revenue was $34.0 million for the second quarter of 2009, compared to $43.7 million for the second quarter of 2008, while professional services and other revenue was $5.5 million for the second quarter of 2009, compared to $12.8 million for the second quarter of 2008.
Rudy Karsan, Chief Executive Officer of Kenexa, stated, “Headwinds created by the challenging economic environment and jobs market continued during the second quarter. While we expect current macro conditions to persist for the next several quarters, we were encouraged that our second quarter total revenue grew sequentially, deferred revenue continued to grow and interest levels in our broad suite of solutions remained high.” Karsan added, “We believe our unique breadth and expertise across software, employee science, HR business processes and consulting services will become increasingly important from a long-term perspective. A growing number of customers are engaging in strategic evaluations, and we believe they will deploy more comprehensive solutions and move ahead with strategic services engagements when the economic environment improves and IT budgets are more available.”
Non-GAAP income from operations, which excludes share-based compensation expense and amortization of intangibles associated with previous acquisitions, was $4.4 million for the three months ended June 30, 2009, a sequential increase from $3.9 million in the first quarter of 2009 and compared to $10.9 million for the three months ended June 30, 2008. Non-GAAP net income, which excludes one-time charges related to the retirement of a line of credit facility in addition to the above mentioned items, was $4.1 million based on a 12% non-GAAP tax rate. Non-GAAP net income was $0.18 per basic and diluted share for the quarter ended June 30, 2009, a sequential increase compared to $0.14 in the first quarter of 2009 and compared to $0.39 per basic and diluted share in the second quarter of 2008.
Kenexa’s income from operations for the three months ended June 30, 2009, determined in accordance with GAAP, was $1.9 million, compared with income from operations of $7.9 million for the same period of 2008. GAAP net income was $1.3 million, or $0.06 per basic and diluted share, compared to net income of $6.0 million and $0.26 per basic and diluted share in the same period of 2008.
A reconciliation of GAAP to non-GAAP results has been provided in the financial statement tables included at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”
Kenexa had cash and cash equivalents and investments of $47.2 million at June 30, 2009, an increase from $46.7 million at the end of the prior quarter. The Company generated positive cash from operations of $7.5 million during the second quarter, which was offset primarily by capital expenditures and earn out payments associated with previous acquisitions. Deferred revenue was $42.2 million at June 30, 2009, an increase of approximately $0.8 million compared to the end of the first quarter 2009 and an increase of 9% from the end of the year ago period.
Karsan added, “Throughout the economic slowdown, Kenexa continued to focus on driving profitability and cash flow. We will continue to operate with this focus in mind, and we are also planning to selectively increase investments in R&D and sales and marketing as we currently expect the buying environment to begin improving at some point during 2010. These incremental investments will leverage those already made in the development and launch of our Kenexa 2x platform, continued enhancements to our best-in-class Kenexa Recruiter BrassRing solution, as well as our recent rebranding initiative. We believe that Kenexa has weathered the most difficult stage of the economic storm, and we remain confident in the company’s long-term market position and opportunity.”
Business Outlook
Based on information as of today, August 4, 2009, the Company is issuing guidance for the third quarter 2009 as follows:
Third Quarter 2009: The Company expects revenue to be $37 million to $40 million, and non-GAAP operating income to be $3.7 million to $4.6 million. Assuming a 23% effective tax rate for reporting purposes and 22.9 million shares outstanding, Kenexa expects its non-GAAP net income per diluted share to be $0.13 to $0.16.
For more information on Kenexa, please visit www.kenexa.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: BrassRing, HCM, HR Systems, HR Technology, HRchitect, Human Capital Management, Integrated Talent Management, Kenexa, Matt Lafata, Ron Hanscome, Rudy Karsan, Talent Acquisition Systems, Talent Management Systems, theHRshow, WebMingle | Permalink
Posted by mattlafata
July 30, 2009
Application Revenue Increases 4% Quarter-Over-Quarter and 40% Year-Over-Year; GAAP EPS of $0.01; Non-GAAP EPS of $0.17; Increased Demand for Talent Management Suite Sales; Closes 8 Large Enterprise Deals, Including Largest International Deal to Date
HRchitect featured Taleo in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Taleo participated in the Talent Management Systems panel and Talent Acquisition Systems panel on June 10, 2009 as part of theHRshow. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Taleo (NASDAQ: TLEO), the leading provider of on demand talent management solutions, today announced its financial results for the quarter ended June 30, 2009.
Quarterly highlights include:
– GAAP revenues of $49.2 million for the second quarter of 2009, an increase of 30% year-over-year. Non-GAAP revenues increased to $49.5 million, which includes amounts excluded from GAAP revenue due to the write down of deferred revenue required under purchase accounting associated with the acquisition of Vurv Technology, Inc. (“Vurv”) on July 1, 2008.
– Signed 146 new customers, including 12 new enterprise customers and 134 new Business Edition customers.
– Closed 8 large enterprise deals with annual contract values in excess of $250,000, including one international deal in excess of $1 million in annual contract value.
– Increased demand for enterprise Talent Management suite sales, including Recruiting and Performance or Compensation management offerings.
– Record number of new Performance Management customers and three Compensation Management deals with strategic partner Worldwide Compensation.
– GAAP net income of $234,000, or $0.01 per fully diluted share.
– Non-GAAP net income of $5.6 million, or $0.17 per fully diluted share.
“Businesses of all sizes are taking a new look at priorities and ROI, and are recognizing the value of Talent Management products and practices to their success,” said Michael Gregoire, Taleo Chairman and CEO. “We are seeing this in the growing adoption of our unified set of Talent Management software solutions, as Taleo transforms and leads the industry.”
Other significant achievements included:
– Acquired 12 new enterprise customers and closed 8 large enterprise deals with annual contract values in excess of $250,000, bringing Taleo’s enterprise customer base to over 700 organizations around the world. New enterprise customers include: New South Wales Government, Nordstrom, SunTrust Bank, Meijer, NCR Corporation, L-3 Communications, Corrections Corporation of America and PricewaterhouseCoopers (Belgium).
– Increased momentum in enterprise Talent Management suite sales. New customers buying Taleo’s Talent Management suite offering include Vermeer
Corporation, Stream Global Services and Oakley, which purchased Taleo’s Recruiting, Performance and Compensation Management solutions.
– Record quarter in total Performance Management deals in both enterprise and Business Edition segments, including Veolia Group, CPS Energy, Phoebe Putney Memorial Hospital, Dow Jones and Company and Books-A-Million, and closed three Compensation Management deals with strategic partner Worldwide Compensation.
– Signed 134 new Small and Medium-sized Customers. Taleo Business Edition, a recruiting solution targeted at companies with less than 5,000 employees, now has more than 3,400 customers. New Taleo Business Edition customers include: MTV Networks, Public Policy of California, City of Artesia, Imperial Toy Company and Emprise Bank.
– Vurv conversions and commitments to convert to Taleo continues to track to expectations. Recent Vurv customers committing to Taleo include: American Family Insurance Group, Barclay’s Global Investors NA, Direct Supply, Wegman’s Food Markets, Hasbro, the City of College Station and Austin Industrial.
For more information on Taleo, please visit www.taleo.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: Applicant Tracking Systems, HCM, HR Systems, HR Technology, HRchitect, Human Capital Management, Integrated Talent Management, Matt Lafata, Michael Gregoire, Performance Management, Talent Acquisition Systems, Talent Management Systems, Taleo, theHRshow, worldwide compensation | Permalink
Posted by mattlafata
July 30, 2009
HRchitect featured SilkRoad in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. SilkRoad participated in the Onboarding Systems panel on June 10, 2009 as part of theHRshow. SilkRoad competed in the HRchitect Beauty Pageant on Onboarding Systems in January 2009 where they were crowned the winner. Brian Platz, EVP and COO of SilkRoad also appeared on the HRchitect WebMingle on March 20, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
SilkRoad technology, inc., a leading provider of talent management solutions, announced its second quarter earnings for 2009 marked the 24th consecutive period of sales growth for the company. Highlights from the quarter include several new strategic partnerships, continued industry recognition and customers purchasing multiple Life Suite solutions.
“Strategic partnerships help us to reach our goal of helping clients recruit and retain the best talent for their organizations. With partnerships such as the ones we have entered into this quarter, we are able to offer our customers a broader range of services, and often times reach a greater number of organizations,” said Andrew J. “Flip” Filipowski, Executive Chairman & CEO of SilkRoad technology.
In April, SilkRoad joined Jobfox in the introduction of ResumePal, the recruiting industry’s first universally accepted online employment application. ResumePal works seamlessly with SilkRoad’s recruiting management system, OpenHire, and revolutionizes the way applicants and employers connect by eliminating time spent completing forms and allowing employers to get more accurate candidate information. By completing a one-time online career profile, job seekers are able to apply at multiple companies by submitting with two clicks, instead of completing separate applications for each job listing.
Additionally, this quarter SilkRoad partnered with Simply Hired, the world’s largest job search engine and advertising recruitment network, allowing SilkRoad customers to even further expand their reach. Jobs indexed by Simply Hired through OpenHire will provide customers the ability to distribute and include their jobs in the organic listings on Simply Hired’s network of over 5000 new locations, including social networking sites such as Facebook, LinkedIn and Plaxo. The partnership allows SilkRoad customers to reach both active and passive job seekers in new and innovative ways.
New Q2 2009 OpenHire clients include: Applied Extrusion Technologies, Inc., Arista Care Health Services, and SWBC.
SilkRoad also announced a partnership with Deltek, Inc., the top provider of enterprise applications software for project-focused businesses, in May. The partnership makes SilkRoad’s talent management solutions more accessible to the government contractor market and other project-based industries such as accounting and engineering. The companies have long maintained a strong relationship but this partnership provides an even stronger integration between Deltek’s market leading HRIS solution Costpoint, and SilkRoad’s Life Suite. Among other benefits, these solutions will provide for a more efficient onboarding process, thus increasing day one readiness and maximizing employee productiveness in the shortest time possible.
In the second quarter SilkRoad received much industry recognition including:
- American Business Awards- SilkRoad was a finalist in “Customer Service Team of the Year” category in May for the American Business Awards. The awards program annually honors companies and generates public recognition of the achievements and positive contributions of organizations and business people worldwide.
- Network Products Guide- Network Product Guide honored SilkRoad with a 2009 Product Innovation Award. The award recognizes vendors from around the world that are responsible for innovative and ground-breaking products bringing essential and incremental changes in all areas of information technology.
- HROA Award- SilkRoad was a nominee for an HROA award for the “Customer Relationship of the Year” with client, Plante & Moran. The 2009 HROA Awards theme was “Be Innovative,” honoring individuals and organizations who have exhibited a commitment to innovation within the HRO industry.
- Tech 50- For the second year in a row SilkRoad was included as a 2009 Tech 50 winner by TechJournal South. Tech 50 companies are recognized as the most innovative regional companies and are evaluated by technology innovation, management team, marketplace potential and success of execution.
Healthcare and health products continue to be a strong industry for new clients. Representative new healthcare clients signed in Q2 2009 include: Des Moines University- Ostepatic Medical Center, Greater Baltimore Medical Center, Comprehensive Health Services (CHS), McLeod Regional Medical Center, and Sport & Health Inc.
For more information on SilkRoad, please visit www.silkroad.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: HRchitect, HCM, Matt Lafata, HR Technology, Integrated Talent Management, Talent Acquisition Systems, Talent Management Systems, SilkRoad Technology, Onboarding, OpenHire, HRchitect Beauty Pageant, theHRshow, Human Capital Management, WebMingle, Applicant Tracking Systems, Brian Platz, HR Systems, Andrew Filipowski, Deltek, ResumePal, Jobfox, Simply Hired, Costpoint, Life Suite, recruiting management system | Permalink
Posted by mattlafata
July 29, 2009
Addition of ResultsOnDemand Talent Development Suite Brings Improved Enterprise Performance Management to APT’s PerformMetrics Platform
HRchitect featured SumTotal Systems 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. SumTotal Systems participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow. Kimberley Kasper, VP of Marketing, and Jon Ciampi, VP of Product Management with SumTotal Systems appeared on the HRchitect WebMingle on May 1, 2009. SumTotal Systems also competed in the HRchitect Beauty Pageant on Employee Performance Management Systems in February 2009, where they were crowned the winner.
If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
SumTotal Systems, Inc. a market leader and a global provider of talent development solutions, today announced a partnership with APT, Inc, in which the company will offer SumTotal’s ResultsOnDemand Talent Development Suite as the foundation for APT’s online performance management solution: PerformMetrics. This integrated talent development suite will help customers employ legally defensible, streamlined HR processes to build and retain high-performing talent.
“SumTotal is thrilled to have a partner like APT that combines best-in-class expertise in organizational psychology with our comprehensive talent development platform to provide APT’s customers with a turnkey solution to manage and develop their workforces,” said Jon Ciampi, vice president, product management at SumTotal.
APT is well known for building job-specific, legally defensible talent management solutions for organizations of all industries. The joint solution will integrate APT competencies and best practices to provide world-class performance management and succession planning services.
“Implementing an online system for managing your workforce will only be successful if the content is tailored to specific job competencies and performance goals for individual employees,” said Dr. John C. Scott, chief operating officer at APT. “Through our partnership with SumTotal, we are now able to extend the value of our performance management offerings so that our customers can better guide and develop their talent effectively.”
For more information on SumTotal Systems, please visit www.sumtotalsystems.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: APT, HCM, HR Systems, HR Technology, HRchitect, HRchitect Beauty Pageant, Human Capital Management, Integrated Talent Management, Jon Ciampi, Kimberley Kasper, Learning Management Systems, Matt Lafata, PerformMetrics, SumTotal Systems, Talent Management Systems, theHRshow, WebMingle | Permalink
Posted by mattlafata
July 22, 2009
HRchitect featured SumTotal Systems 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. SumTotal Systems participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow. Kimberley Kasper, VP of Marketing, and Jon Ciampi, VP of Product Management with SumTotal Systems appeared on the HRchitect WebMingle on May 1, 2009. SumTotal Systems also competed in the HRchitect Beauty Pageant on Employee Performance Management Systems in February 2009, where they were crowned the winner.
If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
SumTotal Systems, a market leader and a global provider of talent development solutions, today announced that Barbara Stinnett will assume the newly created position of President, effective immediately, as well as join the board of directors. In this role, she will be responsible for leading the company and all of its operations with the mission of advancing SumTotal’s integrated talent development strategy, while continuing to build best-in-class solutions around learning management, performance management and compensation.
Stinnett brings more than 25 years of enterprise software, services and solutions expertise to Sum Total, most recently as a co-founder and managing partner with Timmaron Capital Advisors. Prior to Timmaron, Stinnett was Executive Vice President and Chief Customers Officer (CCO) for i2, and previously held executive positions at Sybase and Hewlett-Packard. She has domain expertise across multiple functions, geographies, segments and industries, and is known for her customer-centric approach.
“I welcome the opportunity of building upon SumTotal’s established leadership in the talent development market, and am energized by the company’s stellar customer base, innovative and robust product offerings and strong management team,” said Barbara Stinnett, President of SumTotal. “SumTotal is truly a pioneer in the talent development space, and I look forward to expanding our expertise by further addressing the unique issues faced by each vertical industry to provide the most value to our customers.”
”Barbara is an industry veteran with a strong track record of managing transformations within organizations,” said Robert Smith, managing partner of Vista Equity Partners and SumTotal board member. “We are excited about the opportunity to work with Barbara and the management team to create a sustainable business that delivers the most value for SumTotal’s customers.”
As part of this announcement, SumTotal’s current CEO, Arun Chandra, will be stepping down as CEO, effective immediately.
“I’d like to thank Arun for his leadership and service to the company during his tenure, and in his effort to bring the company through the transaction of becoming private. His contributions are appreciated, and we wish him well in his new endeavors,” said Stinnett.
For more information on SumTotal Systems, please visit www.sumtotalsystems.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: Arun Chandra, Barbara Stinnett, HCM, HR Systems, HR Technology, HRchitect, Human Capital Management, Integrated Talent Management, Jon Ciampi, Kimberley Kasper, Learning Management Systems, Matt Lafata, SumTotal Systems, Talent Management Systems, theHRshow, Vista Equity Partners, WebMingle | Permalink
Posted by mattlafata
July 21, 2009
Solution Gives Verisign, Evergreen Packaging and Videotron a Competitive Edge at an Economical Price
HRchitect featured Taleo in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. Taleo participated in the Talent Management Systems panel and Talent Acquisition Systems panel on June 10, 2009 as part of theHRshow. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Taleo Corporation (Nasdaq: TLEO), the leading provider of on-demand talent management solutions, today announced increased momentum of Taleo Edge, it’s recruiting and performance management offerings for organizations with between 5,000 and 13,000 employees. Launched in 2008, organizations such as Verisign, Evergreen Packaging and Videotron have selected Taleo Edge to get their core talent management processes up and running quickly and in a cost-effective manner.
In today’s economy, organizations of all sizes are looking for ways to do more with less. Mid-sized organizations especially need to be agile in order to successfully compete in a rapidly changing business environment. Taleo Edge allows businesses to cut costs related to talent management without sacrificing performance. With Taleo Edge, companies realize a faster time to benefit at less cost, while still having access to the full functionality and value-added content of Taleo’s enterprise-level solutions. Customers also get a competitive edge via Taleo’s guided implementation methodology and toolkit that deliver pre-packaged best practice content and expertise.
Numerous studies have shown that a lack of strategic talent management can affect a company’s bottom line. According to a study from the University of Pennsylvania’s Wharton School of Business, companies with a well-designed approach to recruiting and developing staff delivered, on average, a 22 percent higher return to shareholders than their industry peers. Taleo Edge helps companies define talent management processes that work for them and their specific requirements, while having the flexibility to change and expand as their needs evolve.
Verisign, Inc. (Nasdaq: VRSN) is the trusted provider of Internet infrastructure services for the networked world. Headquartered in Mountain View, California, VeriSign protects more than one million Web servers with digital certificates and the majority of secure Web sites on the Internet, including 93% of the Fortune 500 sites. VeriSign is utilizing Taleo Edge globally for all hiring, complete with an HRIS integration.
Evergreen Packaging is a leading supplier of beverage packaging solutions. Headquartered in Cedar Rapids, IA, the company is committed to developing and supplying sustainable paper and packaging solutions. Evergreen Packaging moved from a paper-based to a completely automated recruiting process with Taleo Edge. The company currently uses Taleo Edge for professional hiring and is in the process of implementing onboarding.
Videotron is an integrated communications company engaged in cable broadcasting, interactive multimedia development, Internet access services, cable telephony and wireless telephone services. The Canadian-based company strives to offer its customers unparalleled services that are always reliable. Videotron used a 1st generation recruitment solution before switching to Taleo and now experiences greater user adoption, richer functionality and better communication with their candidates.
“Many organizations are looking for ways to optimize their talent and do more with less, regardless of size. Taleo Edge gives mid-sized enterprises the ability to do just that, without making a costly investment or sacrificing functionality,” said Michael Gregoire, Chairman and CEO of Taleo.
For more information on Taleo, please visit www.taleo.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: Applicant Tracking Systems, HCM, HR Systems, HR Technology, HRchitect, Human Capital Management, Integrated Talent Management, Matt Lafata, Michael Gregoire, Talent Acquisition Systems, Talent Management Systems, Taleo, Taleo Edge, theHRshow | Permalink
Posted by mattlafata
July 21, 2009
Non-GAAP Earnings Grow 52% and Cash Increases 56% Over Prior Year
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. Saba participated in the Learning Management Systems panel on June 10, 2009 as part of theHRshow. A.G. Lambert, the VP of Marketing with Saba will appear on the HRchitect WebMingle on August 14, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Saba (NASDAQ: SABA), the premier provider of human capital management (HCM) solutions, today reported financial results for its fourth quarter and fiscal year ended May 31, 2009.
“We are very pleased to report record annual non-GAAP earnings and cash generation while increasing deferred revenue and maintaining solid revenue results,” said Bobby Yazdani, Chairman and CEO of Saba. “During the fiscal year, we achieved several key milestones as we strengthened our overall business model. We successfully streamlined our business to better match to our profitability objectives, signed a record number of new OnDemand customers, grew our total recurring revenues year over year and extended our partner relationships with the addition of IBM’s software group and Hewlett-Packard, as well as a number of regional alliance partners.”
Fourth Quarter and Fiscal Year 2009 Results
Fiscal fourth quarter revenue was $25.6 million compared to $28.2 million in the same period of the prior year. For the year ended May 31, 2009, revenue was $102.8 million compared to $107.8 million in the prior year. Assuming constant foreign currency rates, revenue in both the fourth quarter and fiscal year 2009 would have remained substantially similar to the revenue in the comparable periods of the prior fiscal year.
On a GAAP basis, net loss for the fourth quarter was $1.1 million, or $0.04 per share, compared to a net loss of $310,000, or $0.01 per share, for the same period of the prior year. GAAP net loss for the year ended May 31, 2009 improved by $1.2 million to $2.4 million, or $0.08 per share, compared to a net loss of $3.5 million, or $0.12 per share, for the prior year. Fourth quarter and fiscal year 2009 GAAP net loss included non-cash tax charges related to a prior acquisition of $1.2 million and $1.4 million, respectively.
On a non-GAAP basis, net income for the fourth quarter increased by $0.2 million to $2.2 million, or $0.07 per share, compared to $2.0 million, or $0.07 per share, for the same period of the prior year. Non-GAAP net income for the year ended May 31, 2009 improved by $2.2 million to $6.5 million, or $0.22 per share, from $4.3 million, or $0.15 per share, in the prior year.
Non-GAAP results are computed by adjusting GAAP results to exclude the impact of certain items including (i) non-cash amortization of intangibles, (ii) non-cash charges related to share-based compensation expenses, (iii) costs incurred related to potential strategic transactions that are no longer under consideration, (iv) restructuring costs, and (v) certain non-cash acquisition-related tax expenses. A reconciliation of GAAP to non-GAAP results is included in the financial statements accompanying this press release.
Cash balances increased 56% year over year to $26.0 million at fiscal year end. Deferred revenue at May 31, 2009 increased 13% to $35.3 million from $31.3 million at the end of the prior fiscal year.
Fourth Quarter Highlights
During the fourth quarter, Saba signed new customer contracts and expanded existing relationships with a number of organizations worldwide, including Autofin, AXA, Brinker International, City of Houston, Deloitte, Finning International, Grupo Comercial Chedraui, Liebherr Worldwide, Telekom Malaysia, Petróleo Brasileiro, Taylor, Bean & Whitaker, The Indian Hotels Company Limited, U.S. Army, and Unum Group.
In addition, key announcements by Saba in the fourth quarter included:
- An expanded relationship with IBM pursuant to which IBM will offer a new Learning Accelerator for WebSphere Portal that is based on Saba Learning. As part of this relationship, IBM announced that customers with active maintenance agreements for IBM Lotus Learning Management System or IBM Workplace Collaborative Learning will be entitled to Saba Learning licenses, provided they purchase support for Saba Learning from Saba.
- The appointment of Jeff Carr as President of Global Field Operations, assuming responsibility for the company’s worldwide field operations, including sales, professional services, alliances and customer success. Carr’s extensive experience includes executive roles with PeopleSoft and Taleo.
- Saba’s recognition as the provider with the most experience in large-scale implementations, according to the recently published Bersin & Associates study, LMS and Learning Platforms 2009: Facts, Practical Analysis, Trends, and Provider Profiles.
Fiscal Year 2009 Highlights
Saba signed 98 new enterprise customers, including Haier, Aircel, Vodafone Australia, Canada National Department of Defense, Media Saturn, Future Electronics, Sonic Automotive, Arvin Meritor, Sydney Water and BDO Stoy Hayward.
- Existing customers continued to standardize on Saba across the enterprise, including HP, Cisco, Intel, US Army, Ministerio De Defensa de España, Credit Suisse, Bank of America and Petróleo Brasileiro. Approximately 50% of product bookings came from our existing customers as they continued to expand their use of Saba.
- Saba OnDemand exceeded the three million user mark and continues to demonstrate superior scalability with 15 global deployments each having more than 50,000 users, seven of which have more than 100,000 users.
- Saba shipped new releases of Saba Centra and Saba Enterprise. The latest release of Saba Enterprise advances the value of unified people management with new talent, learning and performance management innovations. Saba Centra has new features to better support enterprise expertise sharing, including RSS publishing, one-click knowledge capture and enhanced evaluation and learning event administration.
- Saba also announced a number of industry accolades and awards garnered by its product offerings, including:
- Saba was positioned in Leaders Quadrant of the Gartner 2008 Magic Quadrant for Corporate Learning Systems;
- In the Bersin & Associates two part study, The Essential Guide to Performance Management Practices and The Essential Guide to Employee Performance Management Systems, Saba received the highest possible rating in all six core performance management areas;
- Saba received the top award in the “Excellence in LMS” category of Chief Learning Offer Magazine’s Learning in Practice Awards; and
- Saba received a Bersin & Associates Learning Leaders’ Award for vendor innovation, which recognized the Saba Knowledge Center for its ability to deliver Web 2.0 collaboration.
For more information on Saba, please visit www.saba.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: A. G. Lambert, Bersin & Associates, Bobby Yazdani, Gartner Magic Quadrant, HCM, HR Systems, HR Technology, HRchitect, Human Capital Management, Integrated Talent Management, Jeff Carr, Learning Management Systems, Matt Lafata, Performance Management, Saba, Talent Management Systems, theHRshow, WebMingle | Permalink
Posted by mattlafata
July 10, 2009
SilkRoad technology-Sponsored Report Highlights Reduced Training Costs, Greater New Hire Engagement Through Use of Social Networking Tools — Complimentary copy of report made possible in part by SilkRoad sponsorship
HRchitect featured SilkRoad in our May 2008 release of The Suite Life of Integrated Talent Management and also includes them in our list of top Talent Acquisition Systems vendors that businesses should consider. SilkRoad participated in the Onboarding Systems panel on June 10, 2009 as part of theHRshow. SilkRoad competed in the HRchitect Beauty Pageant on Onboarding Systems in January 2009 where they were crowned the winner. Brian Platz, EVP and COO of SilkRoad also appeared on the HRchitect WebMingle on March 20, 2009. If you are looking for a new Talent Management System, or any HR system, talk to HRchitect first. We have unparalleled knowledge of the HR and Talent Management vendor community and can save you time and money in selection and implementation.
Organizations using blogs, wikis, internal social networks and other online collaboration tools throughout the talent management lifecycle demonstrated a 39 percent reduction in training costs while improving engagement and quality of hire by 33 percent according to a recent Aberdeen Group study sponsored in part by SilkRoad technology, inc., the leading provider of talent management solutions. The study, “HR Executive’s Guide to Web 2.0: Cracking the Code for Talent Management” provides a roadmap to Web 2.0 tools and examines how leading organizations achieve success by using social networking technologies throughout the talent management lifecycle.
Aberdeen interviewed well over 500 organizations for the study and found organizations utilizing Web 2.0 tools were twice as likely to achieve Aberdeen’s Best-in-Class designation. The report found 55 percent of all organizations that achieved the Best-in-Class designation utilized Web 2.0 tools to facilitate knowledge transfer and 36 percent used the tools to connect employees with colleagues within the organization. Social networking strategies used include company forums, employee communities, enterprise social networking, and employee profile pages.
“Organizations utilizing key social networking tools internally, such as employee forums/discussion groups and internal employee communities achieved a 37% year-over-year improvement in engagement – over three times the improvement seen by organizations not utilizing these technologies,” said Mollie Lombardi, research analyst, human capital management at Aberdeen and co-author of the report.
A complimentary copy of the Aberdeen report has been made available in part by SilkRoad at: http://www.aberdeen.com/link/sponsor.asp?cid=6070.
“This report proves that keeping talent engaged, from their first encounter with the company through training and beyond, can significantly impact the quality of hires. It also can dramatically reduce training costs,” said SilkRoad technology CEO, Andrew J. “Flip” Filipowski. “We always welcome the opportunity to participate in a study with Aberdeen and help make valuable information available to other organizations, allowing them to better recruit and retain the best employees for their teams.”
SilkRoad provides its clients – which include 62 of the Fortune 500 group of companies – with comprehensive talent management solutions. These integrated solutions manage the entire employee life cycle, cutting millions of dollars in human resources costs. With its award-winning Life Suite™, SilkRoad assists companies to attract best-fit talent, manage onboarding & employee transitions, maximize employee performance, provide a centralized learning management system, and deliver accurate information with employee intranets and content management systems.
For more information on SilkRoad, please visit www.silkroad.com
Matt Lafata, HRchitect
Leave a Comment » | Uncategorized | Tagged: Aberdeen Group, Andrew Filipowski, Brian Platz, HCM, HR Systems, HR Technology, HRchitect, HRchitect Beauty Pageant, Human Capital Management, Integrated Talent Management, Life Suite, Matt Lafata, SilkRoad, social networking, Talent Acquisition Systems, Talent Management Systems, theHRshow, WebMingle | Permalink
Posted by mattlafata
