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INDUSTRY NEWS


6 May 2008

Workforce performance management market 'growing'


The market for workforce performance management (WPM) software and services will grow to $2.55 billion (£1.3 billion) by 2013, increasing at an annual rate of 10.1 per cent.

That is according to a new report from IDC, which suggests that consulting services will make up the largest share of spending and that the market will see further innovation, despite the fact that it is beginning to mature.

The research company also found that the software-as-a-service (SaaS) delivery model is growing within the WPM market, with 82 per cent of performance management applications delivered via SaaS, on average.

"Despite a potential business downturn, employee retention will continue to be a key concern for HR executives in 2008, given the very real demographic shifts occurring in the workforce," said Lisa Rowan, of IDC.

"Employers will be seeking ways to both automate and integrate talent functions, with the goal of identifying and retaining top performers. Performance management is a linchpin in this process."

Recently software company Taleo, which develops talent and performance management solutions, announced that it has agreed a deal to acquire Vurv Technology, a talent management software provider, for £65 million.

© 2006 Adfero Ltd.

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