October 3, 2013

Globoforce Named a Selected Vendor in Gartner IT Market Clock for HCM Software 2013 and Sample Vendor in Hype Cycles

October 3, 2013 | Globoforce Press Release

Globoforce Named a Selected Vendor in Gartner IT Market Clock for HCM Software 2013 and Sample Vendor in Hype Cycles

SOUTHBOROUGH, Mass., and DUBLIN, Ireland – October 3, 2013 – Globoforce® (www.workhuman.com), a leading provider of social recognition solutions, today announced its inclusion as a selected vendor in the IT Market Clock for Human Capital Management (HCM) Software and two recent Gartner Hype Cycle reports, The Hype Cycle for Human Capital Management Software, and The Hype Cycle for Social Software. The reports recognize the “momentum with broader global adoption” of social employee recognition, driven by the shift to SaaS platforms and the use of social technologies. The first report, IT Market Clock for Human Capital Management Software, 2013, produced by Gartner analysts Yvette Cameron and Ron Hanscome, adds social employee recognition systems as a new asset class to the Advantage Phase*, recognizing “the growing adoption of social approaches to recognition and rewards system, within and beyond HCM technologies.” As Gartner writes, “Taking a social approach to rewards and recognition programs can drive significant advantages over traditional models by improving workforce engagement, which has a proven impact on business outcomes, such as quality of service (QoS), customer retention, operational efficiency, revenue and profitability.” The report also addresses the impact of recognition across HCM, noting that “Leveraging social technologies to augment employee recognition and rewards programs is a growing trend as organizations look to increase the transparency, frequency and impact of talent management initiatives.” The second report, Hype Cycle for Human Capital Management Software, 2013, written by Gartner analysts Jeff Freyermuth and Ron Hanscome, examines the evolution of the HCM software market, noting they “continue to witness a significant shift in deployment patterns as SaaS vendors grow at the expense of on-premises offerings, even in administrative HCM.” One such example in the hype cycle is social employee recognition. In the report, Gartner notes they “are beginning to see organizations require tighter integration between recognition systems and talent management applications (particularly performance management and compensation).” The third report, Hype Cycle for Social Software, 2013, produced by Gartner analyst Jeffrey Mann, discusses that “The social software market shows increasing progress in the adoption and use of social technologies, techniques and capabilities to meet enterprise demands.” Gartner writes that “During the past five years, we have seen rapid growth in systems that leverage social software concepts to revolutionize the rewards business.” Positioned in the hype cycle’s early stages, “Social employee recognition systems can significantly enhance employee engagement, especially when they're well-aligned with corporate strategies.” Gartner adds that “When done correctly, recognition motivates employees, improves performance and aids retention.” * Gartner defines the Advantage Stage as the high growth period when a market moves from emerging status to adolescence. Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose. About Globoforce Globoforce is a leading provider of social recognition solutions, redefining how companies understand, manage, and motivate their employees. Innovative companies around the world use Globoforce’s cloud-based social recognition software to reveal the true performance and influence of every employee and strengthen company culture. With Globoforce, HR and business leaders can take a strategic approach to recognition programs that result in measurable benefits to the bottom line driven by increases in employee engagement, retention, and productivity. Globoforce is co-headquartered in Southborough, Massachusetts, and Dublin, Ireland. To learn more:
Contact: Shweta Agarwal (508) 229-1541 Shweta.Agarwal@globoforce.com


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