StepStone teams up with Philips to deploy integrated Performance and Talent management system
June 03 2009 - 11:42AM
UK Regulatory
TIDMSTPS
StepStone teams up with Philips to deploy integrated Performance and Talent
management system
StepStone ASA
3 June 2009
StepStone, a leading provider of Human Capital Management solutions, has
announced that Philips is to implement its new ETWeb talent and performance
management platform. ETWeb will help Philips retain its world class workforce
and plan for future success. Once completed, StepStone's solution will cover
around 45,000 Philips employees across more than 60 countries.
StepStone's platform will support Philips in better planning, managing and
evaluating employees' performance and development. The solution will also
integrate a talent management module, enabling the health and well being
multinational to better manage and track its internal talent, whilst also
identifying and developing future leaders.
In the Q1 2009 quarterly results, StepStone stated that "The important monthly
recurring revenue from Solutions' customers has increased 30% between Q1 2008
and Q1 2009, driven by a combination of the growing customer base and minimal
churn in the monthly subscriptions. Recurring revenue growth is significantly
outpacing growth from licence fees and professional services."
This contract with Philips will further increase that recurring revenue base.
Jef Pauwels, Vice President for Learning and Organizational Effectiveness at
Philips, said: "We are pleased to have selected StepStone as a partner for our
key people management processes. StepStone is providing us with a world-class IT
solution and they have been extremely professional throughout the
implementation."
Colin Tenwick, CEO of StepStone, added, "Our talent management solution has met
Philips's global requirements and is aligned to the company's people, processes
and business goals. Through close co-operation, we've helped Philips manage and
track its talent and support its aim to be a leader in the health and well being
industry."
StepStone's ETWeb talent management platform provides a full range of strategic
human capital management capabilities within a software as a service (SaaS)
environment, including performance management, succession planning, compensation
management and 360 degree feedback. The solution enables organisations to retain
and develop staff, improve the ratio of internal promotions to internal hires,
and drive succession planning by finding succession options for senior level
positions. At the same time, ETWeb places employees in the driving seat of their
own careers. Harnessing ETWeb's self-service features, staff are able to feed
back to their line managers and HR officers on their skills and career
objectives, whilst gaining accurate, up-to-date information on the progress they
make against their development objectives.
Enquiries: Ian Clapp,
Director of Investor Relations
Tel: +44 7850 128094
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