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New Offering Addresses More Sophisticated Needs
of HR/Payroll Outsourcing Clients
BOSTON, October 8, 2003 - Fidelity Investments® today announced it is introducing enhanced performance management capabilities to broaden its portfolio of human resources and payroll offerings.
Fidelity Performance Management, part of Fidelity's integrated suite of eWorkplaceSM self-service solutions, will provide both managers and employees with immediate access and seamless support for goal setting, feedback collection and performance evaluation. Recognizing that managers and employees are looking for more than just planning and evaluation support, Fidelity Performance Management incorporates more advanced developmental components, such as coaching. In addition, the Fidelity offering recognizes that implementing or enhancing performance management programs requires up-front consultative change management for optimal results.
"Successful companies are always striving to attract and retain the best workers, and performance management plays an integral role in the overall effectiveness of workforce management," said Caroline Boyd, senior vice president, Fidelity Employer Services Company's HR and Payroll Services.
Boyd added, "Fidelity Performance Management is the latest addition to our integrated suite of solutions that support improved decision making and help clients maximize their return on human capital investments."
Fidelity Performance Management's three modules -- Plan, Coach and Appraise -- enhance team collaboration in the performance management process and make managing performance a constructive and ongoing dialogue rather than a periodic isolated event. With the Plan module, managers and employees work together to establish performance and development expectations. The Coach module allows the exchange of performance guidance and recommendations. Through ongoing feedback and coaching between managers and employees, companies can more effectively motivate and engage their staffs, driving more positive results within the organization.
At the end of the cycle, the Appraise module allows managers to measure performance, and develop and submit performance reviews based on initial goals and feedback collected throughout the year. The Appraise module also allows employees to perform and submit self-appraisals by rating and reviewing their own performance against organizational and departmental goals. This can help managers when providing feedback to an employee about their performance, the organization's expectations of them, and their developmental needs.
"Effective HR programs help companies align goals and resources throughout the organization and drive positive cultural change," says Boyd, "At Fidelity, our focus is to drive HR effectiveness through an integrated portfolio of HR outsourcing solutions."
Fidelity Workplace Services
Through its Workplace Services offering, Fidelity Investments provides human resources administration and employee benefits solutions to more than 16 million participants in more than 11,600 retirement, pension, health and welfare, payroll and stock plans as of August 31, 2003.
Fidelity Investments
Fidelity Investments is one of the world's largest providers of financial services, with custodied assets of $1.6 trillion, including managed assets of $906.0 billion as of August 31, 2003. Fidelity offers investment management, retirement planning, brokerage, human resources and benefits outsourcing services to 18 million individuals and institutions as well as through 5,500 financial intermediaries. The firm is the largest mutual fund company in the United States, the No. 1 provider of workplace retirement savings plans, one of the largest mutual fund supermarkets and a leading online brokerage firm. For more information about Fidelity Investments, visit www.Fidelity.com.
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Fidelity Employer Services Company,
a division of Fidelity Investments Institutional Services Company, Inc.
82 Devonshire Street, Boston, MA 02109
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