Cedar Survey Shows Workforce Technologies are a Business Imperative.BALTIMORE -- Workforce Technologies Are Now an Expected and Proven Method for Impacting Financial Health and Achieving Strategic Business Goals The evolution of business processes and executive expectations are driving the view of workforce technologies as an essential tool for organizations' survival. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the Cedar cedar, common name for a number of trees, mostly coniferous evergreens. The true cedars belong to the small genus Cedrus of the family Pinaceae (pine family). 2004 Workforce Technologies Survey, Seventh Annual Edition, released today, the use of technology to support the transformation of HR to a strategic business function is linked to increased operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. growth and improved organizational performance Organizational performance comprises the actual output or results of an organization as measured against its intended outputs (or goals and objectives). Specialists in many fields are concerned with organizational performance including strategic planners, operations, . The survey, conducted by The Cedar Group, reflects the strategies, use and plans for technologies that directly impact financial performance and workforce productivity in organizations around the world. "This year's survey highlights the vital role that HR and IT continue to play in delivering cost-effective services that provide a foundation for enterprises to successfully compete and thrive in today's competitive market," said Neil Boyer, General Manager of The Cedar Group. "The results show that these technologies are not only expected from employees and executives, but that the return on investment has been proven over and over and again in terms of business improvement and employee satisfaction." Self Service is Mainstream Springboarding from data collected in 2003, the adoption of workforce technologies in 2004 has increased both in the number of organizations adopting and in the depth of the application functionality being implemented. In fact, the implementation of employee and manager productivity applications has reached 50% penetration in 2004. In addition, analytics applications are reported as the fastest growth technology arena--up 30% from 2003. The reported goal of implementing more functionality is to provide strategic HR value to the organization and to gain the ability to measure and plan for talent requirements. In addition, manager acceptance of self service is escalating--a significant milestone because manager productivity applications generate the largest return on investment. ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). for Self Service Already Achieved Early adopters of workforce technologies have already proven ROI and are now reporting continued, incremental Additional or increased growth, bulk, quantity, number, or value; enlarged. Incremental cost is additional or increased cost of an item or service apart from its actual cost. improvements to bottom-line figures. Specifically, survey results indicate that Web self service and service center adoption significantly impact the HR/employee staff ratio. This enables the organization to serve more employees with fewer HR specialists and allows HR to focus on participating as a strategic business partner. Three applications, including Reporting, Training Enrollment, and Competency COMPETENCY, evidence. The legal fitness or ability of a witness to be heard on the trial of a cause. This term is also applied to written or other evidence which may be legally given on such trial, as, depositions, letters, account-books, and the like. 2. Management, are positively linked to operating income growth. Formula for Success Successful organizations are both building strong business justification and conducting after-the-fact proof of success in response to an increase in corporate-level funding and project initiation. Organizations are also standardizing and centralizing cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. business processes and data to streamline service delivery costs. Survey results show that while investments in technology are increasing, success is also dependent on effective change management. Successful organizations report committing time and energy to communicate the change and advantages of workforce technologies to employees in order to ensure the full ROI potential. About The Cedar Survey The Cedar Workforce Technologies Survey reports on market activity and state of organizations in applying technology to deliver Human Resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. services to the workforce. The 2004 report provides trend analysis on data collected from 396 organizations. Data results provide a valuable tool for organizations to gain perspective of market trends that can help drive and justify internal initiatives. The complete survey data analysis is available free of charge at www.TheCedarGroup.com/SurveysWhitepapers/ The survey's historical focus on employee and manager self service, portals and knowledgebase solutions is expanded this year to include specific processes such as core record keeping, benefits, payroll, time and attendance, and performance measurement and whether they are provided in house or by outsource service providers. The Cedar survey is grounded in seven years of solid data and continues to be the industry's most comprehensive research effort focused on a broad range of HR technology initiatives. About The Cedar Group The Cedar Group is a global technology consulting company Noun 1. consulting company - a firm of experts providing professional advice to an organization for a fee consulting firm business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a specializing in strategy and implementation of Human Resources, Financials, and Student Administration solutions for commercial, public sector and higher education higher education Study beyond the level of secondary education. Institutions of higher education include not only colleges and universities but also professional schools in such fields as law, theology, medicine, business, music, and art. organizations. Cedar's expertise and services cover every step of a technology project including strategy development, vendor selection, systems implementation and integration, and post-implementation services and support. The Cedar Group provides supporting business case justification, ROI analysis, and industry research initiatives. Cedar has more than 20 years experience implementing enterprise application software and is a proven leader and visionary 1. visionary - One who hacks vision, in the sense of an Artificial Intelligence researcher working on the problem of getting computers to "see" things using TV cameras. (There isn't any problem in sending information from a TV camera to a computer. in the transformation of Human Resources from an administrative to a strategic business function. Cedar's global headquarters is in Baltimore, Maryland "Baltimore" redirects here. For the surrounding county, see Baltimore County, Maryland. For other uses, see Baltimore (disambiguation). Baltimore is an independent city located in the state of Maryland in the United States. . For more information, please visit www.TheCedarGroup.com |
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