As the retention of top performers becomes a major priority for companies in 2006, the workforce performance management (WPM) market will experience a stellar year. Framingham, Mass.-based IDC, predicts that WPM services will experience a compound annual growth rate of 16.3% during 2006-2010.
"All areas of talent management are experiencing growth, and workforce performance management is no exception," said Lisa Rowan, program manager for IDC's HR and talent management services. "The war for talent is re-emerging and firms are recognizing that they are once again competing not only for product superiority, but for a high performing workforce, which is key to competitive advantage."
To get the most from WPM software, IDC recommends building a WPM plan with a specific end goal in mind and consider outsourcing this application.
The study, Worldwide Workforce Performance Management 2006-2010 Forecast, can be viewed at http://www.idc.com/getdoc.jsp?containerId=34907
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