Global Performance Appraisal And Management Software Market To Reach at CAGR of 8.45% Need For Simplified And Cost-Efficient Solutions Escalating Demand

The report, titled “Global Performance Appraisal and Management Software Market 2016-2020” is a thorough analysis of the market for the software associated with performance appraisal and other management services in an organization. It highlights the latest trends emerging in the market and evaluates the impact of several drivers and restraints primed to influence the market. Taking all factors into account, the report forecasts a healthy CAGR of 8.45% in the global market for performance appraisal and management software during the period of 2016 to 2020.

According to the 54-page report, performance appraisal is an evaluation process of the employees by the management of an organization. The software also helps detect the abilities and skills of an employee for future prospects. With widespread outreach of the Internet, web-based performance management software systems now enable several facilities such as 360-degree feedback, performance review, learning content integration, and compensation.

Some of the factors identified by the report that are expected to positively influence the global market for performance appraisal and management software are the growing need for simplified performance appraisal processes, 360-degree feedback, SaaS-based appraisal and management software, and cost-efficient solutions. Conversely, the report also finds factors that may negatively impact the demand. For instance, data security and privacy issues, threat from open-source software, and high implementation and maintenance costs. An in-depth analysis of all these factors has been provided in the report.

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The report also notes some of the trends that are emerging in the market, such as the need for replacing traditional appraisal process with new approaches, in-the-moment feedback policy of colleagues and managers, and the proliferation of mobile devices in performance review. According to the report, the new developments in the market include crowd-sourced performance review and the future of performance management and reviews.

Geographically, the report studies the performance appraisal and management software market in the regions of the Americas, APAC, and EMEA. The market size and forecast has been provided for each of these regions. To calculate the market size, the report has considered the revenue generated by large, medium, and small organizations that provide this software across the globe. The report also explores the buying criteria of the end users and analyzes the market with the help of Porter’s five forces.

Some of the key vendors profiled in this report that are currently leading the global market for performance appraisal and management software are Oracle, Saba, SAP SuccessFactors, SumTotal Systems, and Ultimate Software. Other prominent or emerging players identified in the report include Actus, bambooHR, breatheHR, Cornerstone OnDemand, Hirezon Corporation, Impraise, Insperity, Performly, Namely, RedSpotHR.com, Reviewsnap, Trakstar, and Zoho Corporation.

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