Compiled ByTraci Purdum Performaworks Inc., a Burlington, Mass.-based provider of performance management software, has introduced its succession-planning software solution. Aimed at helping companies identify and develop high-potential employees, Performaworks Succession Management solution is based on software from Seagate Technology. The solution, which will be available in early 2004, uses a six-part process to enable companies to promote talent from within the organization.
- Profile: Basic information is culled from existing HR systems. The profile also includes work experience, past performance, strengths, development needs and career interests. Additionally, users can configure the profile makeup to meet particular requirements.
- Assess: Enables access to past performance evaluations and current performance, a candidate's potential for career advancement and risk for departure.
- Nominate: Based on rankings, nominees are automatically entered into the appropriate cells in a performance-potential matrix. Executives also can identify an outside candidate as a potential successor.
- Review: Executives can review nominees' work experience, strengths, development needs and level of readiness.
- Develop: Reports pinpoint cross-functional experience that employees express interest in pursuing.
- Fill Positions: Once users have identified viable internal candidates, the selection process can begin.