In 2006 more than 75 million baby boomers will turn 60 with retirement in clear view. According to AMR Research analysts Christa Degnan Manning and Bill Swanton this means that companies will need to prepare for the new workforce. Gen X and Y have different work/life balance than Baby Boomers and companies will need to "clearly understand what competencies and skills they need to reach corporate objectives, create succession plans and career paths for employees to follow, and be prepared to chart performance and development clearly to reach those goals."
This change will allow businesses the " opportunity to improve processes and establish programs to increase the return on their human capital investments." AMR says that for this reason many companies are investing in human capital management (HCM) software.
In a March 23, 2006 article AMR identifies and reviews a few ERP suites that can handle most of the talent management processes.
- Oracle E-Business has an integrated suite with strong competency and key performance indicator (KPI) tracking.
- SAP has invested in extended HCM development alongside its new user interface, portal, and metrics measurement that make it a strong choice, especially for multinational needs.
- Look for Lawson to beef up its products in the talent management space.
To view the full article that cites other companies visit:
Interested in information related to this topic? Subscribe to our weekly Value-chain eNewsletter.