Company: Kronos Incorporated
Category: HR Technology Solution Provider of the Year
Nomination Title: Kronos Prioritizes Proactive and Continuous Product Innovation to Personalize the Customer Experience
Kronos has been innovating the employee experience since its inception in 1977, when it was the first company to put a microprocessor in a time clock; over the past four decades, the company has transformed to a world-leading workforce management and human capital management (HCM) solutions innovator, supporting tens of thousands of organizations — including half of the Fortune 1000 — and their 40 million employees worldwide.
In the past 10 years alone, Kronos has seen remarkable exponential growth: The company introduced four groundbreaking products, including its next-generation Workforce Dimensions product suite* and InTouch DX time clock, more than doubled its revenue to surpass $1.4 billion, and grew to more than 6,000 Kronites and 40,000 customers worldwide. In February 2020, Kronos took the HR and HCM world by storm when it announced its planned merger with Ultimate Software, the leading provider of HCM solutions in the U.S. When their merger closed on April 1 — the first time two FORTUNE 100 Best Companies to Work For have merged in the list’s history — they formed the industry’s leader in global workforce management and HCM cloud solutions, hyper-focused on delivering innovative workforce solutions that help workforces thrive across the globe.*
Over the past year, Kronos has continued to innovate across its solutions with one key goal in mind: ensuring the customer experience is personalized and proactive, regardless of role, region, or device. In particular, Workforce Ready by Kronos* — a unified HCM platform that brings together talent acquisition and onboarding, core HR, talent and performance management, workforce management, and payroll in a single solution — has continued to build off of its 2019 success, which earned Kronos the Stevie Awards’ HR Technology Solution Provider of the Year accolade, by introducing new capabilities such as live in-context support chat and persona-based onboarding guidance.
In November 2019, Kronos introduced Advanced People Analytics: Powered by AIMEE, the award-winning AI engine for managers and employees, this capability applies machine learning to real-time workforce data, serving up insights and recommendations that help managers and administrators make evidence-based, people-centric decisions regarding employee performance — removing the data-crunching burden from administrators and fostering collaborative conversations between people managers and HR.
As a result of the emphasis on product innovation within the HCM landscape, overall Kronos HCM subscription bookings increased by 29% in Fiscal 2019 (which closed on September 30, 2019) and by another 29% in Fiscal 2020 Q1, with the Workforce Ready business alone reaching the $200+ million milestone and growing annual recurring revenue bookings by 61% in Fiscal 2020 Q1.
Historically, HCM software tends to be one size fits all: While users may be able to configure and customize, their experience is typically generalized and surface-level. Workforce Ready purposefully prioritizes the moments that matter most to users based on their roles, with workflow optimization enabling work-life balance for employees, managers, and administrators alike.
The proof is in the pudding: By personalizing in-platform experience and support, 90% of live in-context chat requests are resolved within the same day, while AIMEE works behind the scenes to provide real-time data insights — unburdening managers from administrivia and empowering employees to more easily make data-backed decisions. The differentiating mobile-first nature of Workforce Ready bolsters the enhanced user experience, allowing employees and managers to tackle their day-to-day tasks at any place, at any time, on any mobile platform.
The global growth of Workforce Ready combined with innovations across the company’s HCM enterprise has led to remarkable marketplace accolades: In the past six months alone, Workforce Ready received a “Gartner Peer Insights ‘Voice of the Customer’ Cloud Human Capital Management (HCM) Suites for 1,000+ Employee Enterprises” distinction based on user feedback (https://bit.ly/31xNOy5) as well as a “Strong Performer” distinction in The Forrester Wave™: Cloud Human Capital Management Suites report and the highest possible score in the customer experience category (https://bit.ly/2AdDjEN). G2 Crowd, HRO Today, Software Advice (a Gartner company), and TrustRadius have all recognized Kronos HCM for its award-winning capabilities (https://bit.ly/2CLiNMw).
*On October 1, 2020, Kronos and Ultimate Software announced their combined company’s new name: UKG (Ultimate Kronos Group). As a result, Workforce Ready is now known as UKG Ready and Workforce Dimensions is now known as UKG Dimensions.