Feb 17, 2004
HR.com talks about the Predictions for HR in 2004:
"The performance management vertical will finally gain the traction it deserves. Who wins the space is yet to be determined. The winners could be those selling compensation software, stand alone performance software, the ERP players, or the various solution providers like the LMS vendors and TMS vendors who will integrate with it.
Measurements and metrics will become a reality. With the hard work PWC/Saratoga and Doublestar are doing, expect to see a few major clients set the standard for all of us to follow. Also PWC’s work in establishing a Human Capital “income statement” is well underway, which will legitimize the need for metrics and measuring the most sustainable asset that companies have -- their people.
Retention, retention, retention. As we continue to see signs of improvement in the economy, look for companies like Career Systems International, Center for Talent Retention and Talent Keepers.
Welcome Back VCs . We anticipate venture capital firms to re-enter the HCM market with a vengeance. This is because of the low rate of adoption of technology across corporations. Too much of the previous funding was wasted in the dot-com days on marketing and mergers. Keep a look out for investments in the HR outsourcing, performance management, employee portals and let us not forget about content.
Leadership training will come back with full force. Mostly in an effort to control retention.
Look for a wider adoption of Consumer Driven Health Care Plans. The estimated two million employees on these plans is expected to grow exponentially.
We expect an additional 35 major HRO deals to be signed in 2004.
The purse strings for technology spending will open moderately in the first quarter of this year and significantly in the last"
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