- Reinvented Performance, Succession and Compensation Management Suite with Integrated Content Helps Companies Build the Workforce of Tomorrow, Today -
LONDON (October 10, 2007) — Vurv Technology, a leading global provider of technology and services for building great workforces, today announced the forthcoming release of Vurv Perform 4.0, a new, integrated performance management offering for competency-based job modeling, career development, succession planning and compensation management. Developed to deal with today’s most pressing workforce issues, Perform 4.0 empowers organizations to take a revolutionary approach to performance management by moving from static or “rear-view mirror” performance management processes to proactive performance -- measuring, developing and rewarding individuals on criteria that define tomorrow’s success.
Vurv Perform 4.0 is unique in its comprehensive built-in content library, system personalization, breadth and depth of decision support information, and business-process level integration. The powerful toolset empowers managers with the ability to quickly and easily identify high potential talent, imminent flight risk, and inequitable compensation. To better address talent management issues surrounding retiring workers, new generations in the workforce, globalization and the increasing levels of internal mobility and turnover, Vurv Perform 4.0 lets users take corrective and preventative action with real-time potential and flight risk management, development plans, coaching and mentoring suggestions, and complex but objective and auditable compensation adjustments. The new release combines Vurv’s industry-specific competency and coaching content library, more than 30 years of performance and compensation management product release history, and the proven global enterprise technology platform currently used by more than 250 Vurv global enterprise customers.
Built-In Competency, Position and Development Library With over 70,000 content objects, Vurv Perform 4.0 delivers the industry’s most comprehensive built-in content library, including more than 2,000 coaching and mentoring suggestions, 2,000 position model templates, 1,750 competencies, and over 25,000 interview questions. The solution also includes easy-to-use authoring tools for editing and adding to these objects as needed. Robust, consistently developed content is critical for effectively defining and understanding an organization’s talent “DNA” and measuring, developing and rewarding high-potential employees. Contrary to externally sourced or internally developed content which is often costly, time consuming and inconsistent, Vurv’s built-in library enables improved consistency measures, accelerated deployment times and a lower total cost of ownership.
Visual “Pay for Performance” and “Pay for Potential” Decision Support Built on a single platform with Vurv’s enterprise compensation planning module, Vurv Compensate, users of Vurv Perform 4.0 will benefit from Vurv’s innovative “visual pay-for-performance” approach that integrates the performance, compensation and succession planning functions at a business process level to help organizations quickly and easily compare both performance and potential. Directly from powerful visual indicators and comparative charts, managers can take instant action, such as allocating total rewards, distributing merit pools and reconciling budget overage/underage. This powerful decision support helps companies avoid overpaying underperformers and reduce turnover from underpaying their best performers and high potentials.
Development Planning
Leveraging the built-in competency library, Vurv Perform 4.0 enables the automatic sourcing of development actions and learning opportunities for development plans. Users can also automatically create development plans from succession gaps. The integrated library of more than 2,000 coaching and mentoring suggestions further enables comprehensive performance improvement plans, high-potential (HIPO) development plans and mentoring programs. Focused on today’s most critical workplace issues, these comprehensive tools were developed to help companies improve employee engagement, reduce brain drain, develop future leaders and build bench strength.
Web 2.0 Experience
Utilizing “Web 2.0” services such as user-defined desktop widgets, graphical dashboards, mashups, and drag n’ drop navigation, Vurv Perform 4.0 delivers a rich, personalized and intuitive user experience. This Software-as-a-Service (SaaS) offering is available on demand, supporting native web browser features on both Mac and Windows operating systems.
Global Enterprise Platform
Enhanced using the enterprise workflow, configuration and localization platform from Vurv Recruit, Vurv Perform 4.0 enables rapid deployment for complex, global organizations, as well as significant application flexibility and personalization. Administration tools include completely configurable desktops, approval processes, rules/exceptions with conditional logic, alerts, tasks, forms and user-defined fields. The robust platform enables on-the-fly system configuration, improved flexibility and scalability, accelerated application deployment, and a lower total cost of ownership.
“One of the main reasons for the failure of earlier generations of performance management systems was the fact that they were delivered “totally empty” and devoid of content, requiring implementing customers to build it all from scratch. But uniquely, Vurv delivers over 70,000 performance management content objects, including skills and competencies, job descriptions, and behavioral indicators, as well as specialized items such as interview questions and coaching ideas,” said Brett Tearney, VP of Product Strategy at Vurv. “More importantly, our combination of powerful content with our best in class offerings for performance management, succession planning and compensation management onto a single enterprise platform, provides customers with real-time access to remedy underperformance and challenge, develop and reward the superstars of today and tomorrow.”
Additional Enhancements
The release of Perform 4.0 also delivers functional upgrades in other key areas, including:
• Significantly improved goal management and line of sight visibility;
• Best in class succession management functionality including 9-box analysis, HIPO worksheets and flexible pool assignment capabilities;
• Enhanced analytics delivering “actionable” data;
• Business process level integration for decision support and “instant action;”
• Career development functionality; and,
• Significant performance and user interface enhancements.
“The release of Vurv Perform 4.0 moves us one step closer to delivering what this market has been demanding,” said Derek Mercer, CEO of Vurv. “What we’ve been able to learn from our global enterprise customers is invaluable and has allowed us to deliver a revolutionary, forward-looking approach to integrated performance management,” he added.
Perform 4.0 is being announced at the HR Technology Conference this week. Lab and Beta release programs are scheduled for Q4 2007, with general availability scheduled for Q1 2008.
