Investor Markets
Talent Management as a Fast Growing Category
As the baby boomers retire and skilled positions become harder to fill, organizations recognize their success or failure rests on their ability to find, hire, deploy and retain effective employees. Investors are increasingly requiring CEO’s to provide clear strategies for attracting and maintaining a high performance workforce. Talent management, which includes software for recruiting, performance management, compensation, succession planning and other strategic employee management functions, has become a fast growing category. The availability of web-based, on-demand solutions has further ignited this segment. These solutions make it easier for HR departments to purchase and maintain strategic employee management applications.
Providing Employers with Powerful Tools to Reduce Costs & Increase Productivity
Cytiva’s SonicRecruit recruiting software, SonicOnboard onboarding software and SonicPerform employee performance management system, give mid-sized employers powerful tools to reduce costs associated with acquiring employees and managing their performance, while increasing productivity. These tools help companies to align employees around key goals and provide clear performance metrics, allowing them to actively hire and retain top talent.
$9 Billion Market
The Yankee Group estimates the market for talent management software at $2.3 billion in 2006, growing to $9 Billion by 2009. IDC estimates the market for end-to-end hiring process automation solutions alone will grow from $756 million in 2006 to approximately $2.0 billion in 2011.
Additional Research Resources
For more research surrounding this exploding market, see the following websites:
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