COA ROLLS OUT NEW PEOPLE PERFORMANCE MANAGEMENT SOFTWARE

UK business applications software provider, COA (formerly CedarOpenAccounts) has launched People Analytics, an enhanced version of its successful HR Analyser product.

People Analytics enables senior executives in HR and finance to monitor, analyse and improve employee performance within the organisation and to understand how employees add financial value within the business.

With increasing regulatory pressure to report externally on employee performance, for example from the new Companies Act, People Analytics helps HR and finance directors easily measure the most valuable asset of its organisation, its human capital. By identifying HR issues, the organisation can quickly address any underlying problems with employee performance and add more value to business performance.

A new Impact Measures module provides easier integration with other parts of the business, allowing measures from finance, production, sales and marketing systems to be integrated with people metrics, giving a cohesive view of the business.

People Analytics has over 150 HR measurements and KPIs (Key Performance Indicators) pre-defined and its new functionality reflects its use beyond HR departments.

Mark Thompson, COA managing director, said: “The new Companies Act means there is increasing pressure on organisations to report externally on employee performance, and reporting is often handled by the finance department. By measuring human capital, People Analytics allows a complete understanding of people performance within an organisation and its impact on the bottom-line.”

“Companies who can identify where there may be future pressures through skill gaps, retention issues and workforce demographics are better able to plan their manpower,” added Thompson.

Gateshead Council saved £1.5m through reduced sickness absenteeism, the second highest drop of any local authority in a single year nationwide, by using HR Analyser, the predecessor to People Analytics. Mark Wilson, senior personnel advisor, Gateshead Council said: “This is the biggest ever reduction in staff absence we have seen in a similar timeframe and COA’s software is probably the biggest single factor in achieving this."

London Borough of Merton has saved £486,000 and achieved year on year reduction in sickness through improved control of absenteeism. Steve Key, HR services manager, London Borough of Merton said: “It is invaluable for us to be able to look at the underlying reasons to problem areas, not only by examining the teams that have high sickness, but also by learning from the teams that effectively manage sickness levels. COA's people performance management software drives the monitoring process and is able to track performance and offers greater flexibility over a standard static report."