Workforce performance management to grow at 16.3% a year

According to IDC, 2006 will be a pivotal year for the workforce performance management (WPM) market as the war for talent, which involves the retention of top performers, becomes a major priority for companies in 2006. WPM is the fastest growing segment of the rising talent management market, as sophisticated WPM software and services are now readily available to provide greater alignment of corporate objectives and visibility into both individual and organizational performance. IDC forecasts that worldwide spending for WPM services will experience a compound annual growth rate (CAGR) of 16.3% during the 2006-2010 forecast period.