Kronos Continues to Achieve Industry Recognition and Rapid Growth in Human Capital Management

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KronosWorks — Rated as a top Human Capital Management (HCM) vendor worldwide by leading research and advisory firms1 and recognized in the 2017 Gartner Magic Quadrant for cloud HCM suites for midmarket and large enterprises, Kronos Incorporated continues to grow its HCM business. Offering strategic HCM solutions including talent acquisition, talent management, HR, and payroll, Kronos today enables organizations around the world to focus on innovation, enhance customer experiences, and grow businesses.

News Facts

  • Workforce Ready HCM cloud suite is the fastest-growing part of the business
    • The Kronos Workforce Ready suite, which combines the power of workforce management and HCM into one unified cloud platform, continued to surge in demand in Fiscal 2017.
    • Subscription revenue for Workforce Ready increased 52 percent in Fiscal 2017 as customers large and small increasingly opt for a full-suite solution.
    • At the end of Fiscal 2017, more than 70 percent of employees from different organizations using Workforce Ready were leveraging the Kronos HR module to minimize time consuming, tedious tasks, focusing instead of business priorities.
  • Kronos continues to invest in HCM innovation
    • Kronos added more than 1.2 million lines of code in HCM solutions last year and grew its footprint in HCM significantly by introducing two add-on modules – Workforce Ready Talent Acquisition and Workforce Ready Performance Management. New functionality is geared toward offering managers effective tools needed to deliver ongoing, evidence-based feedback to both hourly and salaried employees.
    • The HCM product team also doubled last year, and so did the HCM user experience team, strengthening Kronos’ ability to re-imagine the user experience in a device agnostic world. The latest mobile interface delivers key workforce processes intuitively, so they can be completed with the fewest taps on a screen, as possible.
    • All of these new functionalities help all employees – no matter where they are in their employee lifecycle journey – feel more connected to their organizations’ missions. This connectivity can lead to greater levels of employee empowerment and engagement.
  • Kronos HCM transforms business strategy
    • Kronos recognizes that the modern workforce needs more than automated HR and payroll processes; it needs an innovative HCM strategy. If today’s workforce is using crowdsourcing techniques in their personal lives with the ease of mobile apps, Kronos customers can deliver this ease to their employees at work.
    • By allowing nurses to effectively collaborate, have a say in their schedules, and shift swap easily through mobile functionality, Kronos customer Cohen Children’s Medical Center reduced turnover, saved associated costs, and optimized patient care with a highly engaged workforce.
    • An engaged workforce also generates new ideas to help an organization evolve but it is critical that leadership provides a path for this to happen. The chief executive officer of TransparentBPO selected the Kronos HCM suite to give more power to employees over their own work lives to enhance customer service and effectively grow the business.
  • In Fiscal 2017, Kronos launched a new book, Your Last Differentiator: Human Capital
    Authored by Kronos’ vice president of the data science practice group, Gregg Gordon, the book aims to inspire leaders and people managers to think about how to holistically develop an organization’s entire workforce, including the hourly workforce. By innovating relentlessly and utilizing workforces effectively, Gordon demonstrates how organizations can deliver superior customer service and succeed in the face of digital transformation
    • Your Last Differentiator: Human Capital is available on Amazon.com.

Supporting Quotes

  • Jim Thompson, chief financial officer, Cavender’s Boot City
    “Key benefits we have realized from Kronos HCM solutions include reducing the amount of time store managers spend on payroll from four hours to 30 minutes but the solution offers much more. With Kronos, we have achieved a consistent methodology for scheduling, better compliance management, and increased visibility into how employees are paid. Also with employee self-service and advanced analytics, the opportunities Kronos provides are abundant when it comes to improving both employee engagement and customer satisfaction.”
  • Andi Kirkpatrick, chief financial officer, Trade Construction
    “After conducting evaluation of several on-boarding software tools, Trade Construction selected Kronos as our provider because we deemed Kronos the most flexible, user-friendly, and an all-encompassing solution for managing our applicants, employees, and benefits in a single system.”
  • Scott Newman, chief executive officer, TransparentBPO
    “With the Kronos selection, TransparentBPO is extending its commitment to both employee and customer experiences. By centralizing HR and payroll processes and offering employees easy access to important information related to their jobs, such as their own schedules, at TransparentBPO we are empowering our workforce to deliver superior customer service. As a result, Kronos is playing a big role in our overall business growth.”
  • Bob DelPonte, vice president and general manager, HCM practice group, Kronos
    “The focus of Kronos HCM goes beyond automation of processes. Our mission is to help our customers inspire and engage their biggest asset – their workforces – to delight their customers, serve communities, and ensure product quality to achieve success. The Kronos HCM solution is based on the premise that great businesses are powered by great people and our innovation in product development puts employee engagement front and center, for both hourly and salaried. We believe that because of this focus, our HCM solutions are sought by not only HR leaders but all leaders.”

Supporting Resources

  • This announcement was made from KronosWorks, the world’s largest workforce information exchange. KronosWorks is taking place this week in Las Vegas.
  • See live updates and join the conversation by using #KronosWorks across all social media channels.
  • Follow the buzz about the Workforce Dimensions product with #KronosWFD across all social media channels.
  • Throughout the event, KronosWorks attendees will come together to donate life-saving hygiene kits to disaster relief efforts through Clean the World, a not-for-profit that recycles discarded soap from hotels and distributes it worldwide to prevent illness and disease.
  • Connect with Kronos via Facebook, Twitter, LinkedIn, Instagram, and YouTube.
  • Take a look at the lighter side of the workforce in our Time Well Spent cartoons.
  • Follow The Workforce Institute at Kronos for insight, research, blogs, and podcasts on how organizations can manage today’s modern workforce to drive engagement and performance.

About Kronos Incorporated

Kronos is a leading provider of workforce management and human capital management cloud solutions. Kronos industry-centric workforce applications are purpose-built for businesses, healthcare providers, educational institutions, and government agencies of all sizes. Tens of thousands of organizations — including half of the Fortune 1000® — and more than 40 million people in over 100 countries use Kronos every day. Visit www.kronos.com. Kronos: Workforce Innovation That Works.

© 2017 Kronos Incorporated. All rights reserved. Kronos, the Kronos logo, and Workforce Ready are registered trademarks and Workforce Innovation That Works is a trademark of Kronos Incorporated or a related company. See a complete list of Kronos trademarks. All other trademarks, if any, are property of their respective owners.

Footnote1: Gartner, Market Snapshot: Human Capital Management Software, Worldwide, 2017, May 2017
IDC, Worldwide Human Capital Management and Payroll Applications Market Shares, 2016: Growth Across the Board, June 2017

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Business Wire: 15:00 GMT Tuesday 14th November 2017

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