Gartner Mentions Profit.co in Five Hype Cycles
Profit.co empowers teams and organizations to manage goals and execute strategies through intuitive OKR and Continuous Performance Management Software. It is now used by some of the most innovative companies worldwide, from startups to Fortune 500 corporations.
Profit.co’s Continuous Performance Management Software Recognitions in 2024
Profit.co Recognized in Gartner Hype Cycle for HR Technology, Capterra Shortlist, Software Advice FrontRunner, and GetApp Leader Category in 2024 for Continuous Performance Management
Recognized in the 2024 Gartner Hype Cycle for HR Technologies
In a rapidly evolving technological landscape, HR leaders are increasingly tasked with managing complex technology portfolios. The Gartner Hype Cycle for HR Technologies showcases emerging innovations, enabling organizations to evaluate new capabilities while prioritizing those that deliver the most business impact.
Key Highlights of Continuous Performance Management Tools:
- Early adoption of GenAI can enhance PM processes by automating feedback and reducing administrative burdens for managers and employees.
- Well-implemented continuous PM leads to higher employee engagement, increased productivity, and enhanced manager effectiveness.
- PM technology helps document regular feedback and check-ins, ensuring employees remain focused on key objectives while giving leadership visibility.
- Adapting PM processes to meet fast-paced business environments helps organizations remain agile while fostering a culture of ongoing feedback.
- Continuous PM has the potential to drive internal mobility and skills growth, though embedding feedback into company culture remains a challenge.
- AI-powered tools in PM can boost satisfaction by lightening the administrative load on managers and enhancing the performance feedback process.
- Organizations seek tools that integrate performance management into broader strategic talent initiatives as continuous PM matures.
These key innovations and capabilities are why Profit.co has been recognized in the 2024 Gartner Hype Cycle for HR Technologies.
Profit.co’s OKR Software Achieves Triple Recognition
Featured in Gartner’s Hype Cycle for the fourth year in a row, G2 Leader for 16 Quarters, and Constellation Shortlist 2024
Profit.co Recognized in Gartner’s Hype Cycle for Digital Workplace Applications, 2024
Profit.co has been featured in Gartner’s Hype Cycle for Digital Workplace Applications for the fourth consecutive year. With competitors like Lattice and Leapsome not making the cut this year, Profit.co continues to stand out as a leading OKR solution in an increasingly competitive market.
Key Highlights of the Recognition:
- Generative AI (GenAI) is driving innovation in the OKR space, providing automated insights, progress tracking, and feedback loops that significantly enhance the user experience.
- With hybrid work becoming the standard, OKR platforms are increasingly addressing the alignment challenges posed by dispersed and asynchronous teams, ensuring smooth collaboration across remote and on-site workers.
- The integration of agile methodologies into OKR frameworks allows organizations to remain flexible and adapt quickly to dynamic business environments, particularly in industries undergoing digital transformation.
- Comprehensive OKR solutions help businesses reduce the cost and complexity of developing internal tools or relying on manual tracking systems, offering a streamlined and user-friendly platform.
- OKR platforms are increasingly supporting large-scale enterprise initiatives by driving alignment, transparency, and accountability, which are critical for the future of digital workplace applications.
All these advancements are key reasons why Profit.co has been recognized in the 2024 Gartner Hype Cycle for Digital Workplace Applications.
Hype Cycle for the Digital Workplace Applications, 2023
Profit.co has been recognized by Gartner in the 2023 Hype Cycle report for the third year in a row! In a competitive field with over 130 vendors in the OKR software category, Gartner has recognized only four vendors, and we’re one of them.
Gartner’s report underscores the importance of digital dexterity in the workplace. It highlights the critical role of technology in enhancing employee engagement and operational efficacy in today’s ever-evolving business landscape.
- OKRs enable organizations to expand their objectives’ scope and complexity while maintaining critical aspects like alignment and transparency.
- By adopting OKR applications, companies save on developing internal tools or customizing non-specific tools for goal management.
- The OKR framework, particularly when integrated with modern tools like collaborative work management applications, alleviates the friction caused by hybrid work models in aligning and prioritizing efforts.
- Building on the success of agile methodologies in development, OKRs offer a promising path to infuse agility into organizational strategy.
- Proven success within technology sectors, OKRs are now being adopted as best practices across traditionally non-tech industries undergoing digital transformation.
- The structured approach of OKRs helps in overcoming resistance from stakeholders, thereby smoothing the path for strategic initiatives.
- OKRs provide a framework that counters employee inertia, encouraging proactive engagement with organizational goals.
- As teams work increasingly in dispersed, hybrid, and asynchronous environments, OKRs offer a consistent and clear method for collaboration and goal achievement.
- OKRs are pivotal in the digital workplace, promoting the development of digital skills necessary for a modern, effective workforce.
- The clear structure and transparency of OKRs enhance employee engagement by clearly connecting individual contributions to the larger organizational outcomes.
Gartner’s recognition is a testament to Profit.co’s OKR platform’s capability to catalyze operational excellence and strategic agility in the evolving business environment.
Hype Cycle for the Digital Workplace Applications, 2022
The 2022 Gartner Hype Cycle for Digital Workplace Applications has uncovered exciting opportunities for digital leaders like you to supercharge workforce productivity, align your organization, and prioritize personal and team well-being.
As a featured player in the OKR (Objectives and Key Results) space, Profit.co empowers you to align and track your organizational goals like never before. The digital landscape is evolving, and you can seize emerging opportunities and transform your organization with innovative highlights to enhance workforce digital dexterity, drive organizational alignment, and prioritize personal and team health.
- OKR (Objectives and Key Results) empowers you to align and track your organizational goals
- Workforce nudgetech leverages technology to support and enhance employee development and well-being.
- Collaboration equity involves utilizing technology to provide equitable access to communication and collaboration tools for all team members.
- Team unity involves utilizing digital tools to enhance team dynamics and foster a sense of unity among team members, regardless of their physical location.
- Digital wellness includes tools and applications that encourage healthy work habits, support mental health, and promote work-life balance.
By deploying OKR applications, organizations are able to:
Hype Cycle for Human Capital Management Technology
This Hype Cycle informs application leaders who are supporting HCM technology transformations about the latest technological innovations on the market. It will help them prioritize investments by providing insights into the maturity of key applications and Technologies.
As OKRs move further into the mainstream, OKR applications are needed to improve the model’s usability, effectiveness and scalability. Without appropriate tooling, OKRs can be a laborious method to utilize. The level of effort that an undertooled OKR program requires prevents many organizations from making use of OKRs and undermines the value it can deliver for the ones that have adopted them.
- Following the maturation of agile methods and workflows in development functions, organizations are trying to find ways to increase agility in strategy. OKRs are viewed as one of the most promising techniques to do so.
- Digital transformation and product centricity in historically non technological industries are shifting attention to best practices that have proven successful in the technology sector. OKRs are one such idea that is migrating from tech to traditional enterprise.
Drivers
Hype Cycle for the Digital Workplace
During the pandemic, many office workers were absent from the physical workplace, and most interactions occurred virtually — putting the spotlight on the digital employee experience and new ways of working. This rapid escalation of digital work has been transformational, and most organizations are anxious to keep the momentum going. Many opportunities for further investment in the digital employee experience are represented in this Hype Cycle.
This Hype Cycle continues to underscore the need for all office workers to attain proficiencies with personal and team productivity applications to work effectively in a hybrid environment.
- Expand the scale and complexity of their deployments, without compromising on important methodological aspects such as alignment and transparency or risking pitfalls such as stakeholder pushback and employee inertia.
- Save on the expenses of developing internal tools or customizing general-purpose tools that an in-house approach to achieving an adequate level of tooling would require.
By deploying OKR applications, organizations are able to: