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Vurv Announces Perform 4.0 to Retain and Engage People and Drive Top Business Performance
JACKSONVILLE, Fla. --(Business Wire)-- Vurv Technology, a leading global provider of technology and services for building great workforces, today announced general availability of Vurv Perform 4.0, a new, integrated on-demand solution to bring everyone into the performance management process through career development and workplace feedback, competency-based job modeling, succession planning and compensation management. Employee turnover and disengagement costs companies around the world billions of dollars every year. Vurv Perform 4.0 provides organizations with an intuitive, easy-to-use Web application designed to engage employees, improve retention and align employee performance with the company's strategy and business objectives.
"Contrary to more traditional enterprise software systems that treat people like a commodity, Vurv Perform 4.0 was 'reverse-engineered' to bring everyone into the performance management process," said Derek Mercer, Vurv Chief Executive Officer. "Vurv recognizes that people are the key to building successful companies and great work environments, and this belief informs how we build our products. Vurv Perform 4.0 is intuitive and accessible to everyone, from executives to entry-level employees, to give everyone a role in a company's performance. With Perform 4.0, executives also have unprecedented visibility into the organization's performance and succession readiness."
Vurv Perform 4.0 includes powerful technology for career and goal management, performance appraisals, succession planning and pay-for-performance. Key enhancements from Vurv's previous performance management offering include:
-- Succession tools for gap analysis and development plans
-- Extensive competency and job modeling tools (content included)
-- A completely new Web 2.0 user experience
-- Incredible flexibility with configurable workflows, rating scales, eligibility rules, evaluation plans and goal forms
-- Global capabilities with locale-based translations
-- Goal management capabilities
-- Overall system performance.
Vurv Perform 4.0 includes almost 75,000 content objects, such as job and competency models with behavioral indicators, coaching and mentoring suggestions as well as interview questions to help managers overcome blank page syndrome and spend more time coaching employees. Perform 4.0 helps managers automatically create development plans from competency-based gap analysis which addresses one of the most commonly missed performance management opportunities. International data elements, workflow configuration and locale-based translations with single goal instances ensure an organization's performance management program is adopted enterprise wide, regardless of location.
"In our latest research study, we found that employee performance management practices vary greatly from company to company. For example, complex, multinational organizations require enterprise solutions that can be easy configured by administrators to meet localized needs for variations in process and data management. Yet these enterprise solutions must provide consistent talent information to be shared globally. We are very impressed with Vurv's deep understanding of the type of configurability required in this context. Vurv's Perform 4.0 includes highly sophisticated organizational management support as well as deep capability to localize processes, role and function security, and data management. This level of support can only be gained through the many years helping large, Global 2000 companies support a wide variety of performance management practices," said Leighanne Levensaler, principal analyst with Bersin & Associates.
Best-in-class organizations understand the critical link performance management has in retaining and engaging new employees. Vurv's comprehensive suite of web-based solutions for recruitment, performance management, compensation management and workforce optimization helps organizations find, hire and retain the right talent to build a successful organization and drive business results. Companies that use Vurv outperformed the Dow by 35% points in the last four years through increased productivity, reduced costs, and igniting their most powerful resource for innovation and growth, their people.
"We work with and constantly review the products of the leading performance management vendors in the space. The Vurv Perform 4.0 solution encompasses the functionality depth and usability to become a leader in the market. We expect to see this product compete head-to-head against the current market leaders when organizations pursue holistic talent management solutions as a disciplined strategy for success," said Jason Averbook, chief executive officer of Knowledge-Infusion.
"For most companies, 70% of operating costs goes to its workforce," comments Mercer. "Vurv Perform 4.0 was designed to make the most of this investment, as measured by overall business performance, and the enormous impact that a collaborative, positive work environment has on it."
Vurv Perform 4.0 is available as a secure subscription service delivered over the Web, and can be up and running quickly with no need for costly IT infrastructure or a complex, enterprise software installation. For more information on Perform 4.0, visit: http://www.vurv.com/perform.
About Vurv Technology
It's all about the people! Vurv's on demand talent management software helps address the number one business challenge - finding, hiring and retaining top talent. With comprehensive product offerings including recruitment, onboarding, performance, succession, compensation and workforce transition management, Vurv's software is fast, flexible and easy to use. More than 1,700 companies and over 4.4 million users around the world rely on Vurv to reduce operating costs, increase productivity and ignite their most powerful resource for innovation and growth. Feel the creative energy, talent and passion at www.vurv.com.
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