New Cornerstone OnDemand Report Examines Importance of Performance Management for Mid-Size Organisations
Complimentary white paper from Cornerstone OnDemand examines the business benefits of investing in a solid performance management strategy and technology solution
LONDON, 12 October, 2010 – Cornerstone OnDemand, a leading global provider of a comprehensive learning and talent management solution, is issuing a new complimentary white paper entitled “Performance Management Solutions for the Midmarket Organisation: Why Bother?” The report examines the business benefits of – and best practices for – creating a performance-oriented culture in mid-size organisations.
“Performance management may seem like an unnecessary bureaucratic exercise, in part because of manual, paper-based processes,” said Vincent Belliveau, EMEA General Manager for Cornerstone OnDemand. “An automated, consistent and company-wide performance management process can have a considerable business impact, such as lower turn-over of top performers and higher revenue per employee.”
Readers of Cornerstone’s white paper will learn how the right performance strategy and technology support can help midmarket organisations achieve the following:
• Improve efficiency and compliance. According to CedarCrestone research, automating the performance management process can reduce operational costs by 20 percent.1 These cost savings are due in part to the reduction of errors inherent in manual processes. Automation also helps managers to provide constructive feedback to employees on a more frequent basis – and in less time.
• Make performance reviews relevant. Organisations with best-in-class performance management processes are 47 percent more likely to reinforce formal annual reviews, supplemented with informal reviews at least once per quarter.2 Technology can transform performance management from a once-a-year event into an ongoing process that also includes development plans and learning opportunities.
• Maximise productivity and pay for performance. Top performers almost always exceed the performance of average workers by at least 25 percent – making them valuable assets to an organisation.3 Technology solutions can nurture better performance, focus individual efforts on key business strategies, and make it easier to recognise and reward superior performance.
To download the complimentary white paper, visit: http://info.cornerstoneondemand.com/forms/UK_2010_10_CSOD_EPMforMM_WP
For more information about Cornerstone OnDemand, visit www.cornerstoneondemand.co.uk
To read Cornerstone OnDemand’s talent management blog, visit http://www.cornerstoneondemand.co.uk/blog. To follow Cornerstone OnDemand on Twitter, visit http://twitter.com/cornerstoneinc.
About Cornerstone OnDemand
Cornerstone OnDemand is a leading global provider of a comprehensive learning and talent management solution delivered as software-as-a-service (SaaS). We enable organizations to meet the challenges they face in empowering their people and maximizing the productivity of their human capital. Our solution consists of five integrated platforms for learning management, enterprise social networking, performance management, succession planning and extended enterprise. Our clients use our solution to develop employees throughout their careers, engage all employees effectively, improve business execution, cultivate future leaders and integrate with their external networks of customers, vendors and distributors.
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Cornerstone® and Cornerstone OnDemand® are registered trademarks of Cornerstone OnDemand Inc.
1. CedarCrestone. Value of HR Technologies, 2008.
2. The Aberdeen Group. Managing Employee Performance, 2008.
3. Workforce Management. The True Value of Hiring and Retaining Top Performers, August 2002.
Media Contact:
Michelle Haworth
Cornerstone OnDemand
Phone: +1 (310) 752-0178
mhaworth@cornerstoneondemand.com
Lena Ahad
Technology PR (for Cornerstone OnDemand)
+44 (0) 7908 725212
lena@technologypr.eu
