Globoforce Named in Leading Industry Analyst Firm’s Hype Cycle for Human Capital Management Software Report
Gartner adds Social Employee Recognition to Hype Cycle as rising system in HCM, expecting global growth, talent management integration, and mainstream adoption
SOUTHBOROUGH, Mass., and DUBLIN, Ireland – August 31, 2011 – Globoforce®, the world’s leading provider of SaaS-based employee recognition solutions, today announced it has been listed as a sample vendor in the Gartner Hype Cycle for HCM Software* in the new category of Social Employee Recognition Systems. The Hype Cycle for HCM Software helps organizations make more informed buying decisions for HCM technology by providing insight into the maturity and scope of key applications.
According to the report, produced by Gartner Analysts Thomas Otter, James Holincheck, and Jeff Freyermuth, “The HCM software market continues to evolve globally, and is being increasingly disrupted by new solutions and vendors, and market consolidation. Social media, software as a service (SaaS) and mobile technology have altered the HCM technology landscape.” Although rewards programs have been around for many years, Gartner has seen rapid growth in systems that leverage social and mobile concepts and expects “more global adoption over the next three to five years.”
“Gartner’s Hype Cycle report clearly illustrates the issues HR leaders face in managing and evaluating today’s dynamic, multi-generational workforce,” said Eric Mosley, CEO of Globoforce. “The old, tactical, stagnant recognition models no longer work; they simply cannot support the new era of employee productivity and rapid innovation globally. Social and mobile technologies enable HR leaders to take the lead in employee engagement and culture management through the adoption of social performance management driven by employee recognition.”
As discussed in the report, many organizations are reassessing their older administrative systems and deploying improved alternatives with newer technologies that promise to enable real-time employee connections and interaction across dispersed workforces. As Gartner notes, “Employers have used catalog-type recognition systems for decades; however, recently, we have seen social software concepts applied to this market.” Moreover, Gartner has seen “a significant shift in deployment patterns, as SaaS vendors grow at the expense of on-premises offerings.” Gartner’s Hype Cycle for HCM Software also notes their expectation for “tighter integration between recognition systems and talent management applications” as well as a “growth in tools that support informal feedback and recognition, and collaboration and innovation applications have added analytics to track employee actions.”
Globoforce’s product evolution is a reflection of the company’s foresight to help HR and business leaders manage their global talent and culture through the power of values-based employee recognition. Since the company’s inception in 1999, Globoforce has propelled recognition from a tactical, ad hoc approach to a strategic platform that drives a continuous flow of recognition and real-time employee performance. This vision has resulted in several new offerings over the past year, including social and mobile capabilities, a recognition program benchmark index, and the industry’s most dynamic real-time measurement and reporting tool.
* Hype Cycle for Human Capital Management Software, Thomas Otter, James Holincheck, Jeff Freyermuth, August 2, 2011.
About Hype Cycle
The Hype Cycle is copyrighted 2011 by Gartner, Inc., and its affiliates and is reused with permission. Hype Cycles are graphical representations of the relative maturity of technologies, IT methodologies and management disciplines. They are intended solely as a research tool, and not as a specific guide to action. Gartner disclaims all warranties, express or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose.
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