About Employee Performance Software
Employee performance software is one of the software plays an important role in the improvement and recognition of the employees. It is the technology helps an organization to test its core and work on it. The quality of an organization depends on the quality of its employees' quality will be decided by the accurate and fair performance reviews. It is important to track, evaluate the performance to understand companies’ growth and scope of improvements.The software provides different features helping the HR department .The software are available in following types that cloud based ,On -Premise, and web-based.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Growing data-driven Age increasing demand for Employee performance software as it improves the performance and feedback system due to these features there is tough competition between top leading firms. The recognition is one important satisfaction for every employee in the organization in the era of digitization everyone wanted quality feedback and employee-oriented culture for further procedures which will enhance the business. The top leading companies also relying on mergers and acquisitions to earn more profit and rule the market for a long time. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Oracle (United States), Saba (United States), Zenefits (United States), SAP (Germany), SumTotal Systems (United States), Ultimate Software (United States), Cornerstone OnDemand (United States), Performly (United States), Impraise (Netherlands), MAUS (Australia), BambooHR (United States), Zoho Corporation (India) and BreatheHR (United Kingdom) are some of the key players that are part of study coverage.
Segmentation Overview
AMA Research has segmented the market of Global Employee Performance Software market by Type (On-premise, Cloud-based and Web-based), Application (Small Business, Medium-sized Business and Large Business) and Region.
On the basis of geography, the market of Employee Performance Software has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by End User, the sub-segment i.e. Entertainment sector will boost the Employee Performance Software market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Growing Recommendation As Results Into Increasing Productivity
Market Growth Drivers:
Growing Goal-Oriented Approach In The Industries and Increasing Demand As There Is No More Human Intervention And Errors
Challenges:
Doubt In Methodology
Restraints:
De-Motivation May Occur Within Employees
Opportunities:
Growing Employee-Centric Culture and Adoption Of Various Software For Performance Evaluation
Market Leaders and their expansionary development strategies
In October 2020, Advanced acquired Clear Review, a global performance management and employee engagement software company whose customers include Virgin Money, RICOH, Café Nero, HarperCollins and Waltham Forest Council. This is Advanced’s third acquisition of 2020 and extends its Human Capital Management capability centered around Cloud HR which now supports the entire employee lifecycle from recruitment to retirement.
In March 2022, People management software platform Lattice released a new OKR and Goals product aimed at driving strategic alignment between organizations and their employees. The oftware products to manage performance, assess employee engagement, gather real-time feedback, keep track of goals, and facilitate one-on-one meetings.
Key Target Audience
Employee performance software providers, Consulting companies, Government agencies, Investors and venture capitalists, Consultants/consultancies/advisory firms, End-Use Industries, Support and maintenance service providers and Technology providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.