Business Services Industry
First Reliance Bank Achieves Company-wide Goal Alignment with SuccessFactors
Business Wire, Nov 27, 2007
Reaffirms Commitment to Employee Development and Engagement by Deploying SuccessFactors' Web-based Performance and Talent Management Software
SAN MATEO, Calif. -- SuccessFactors, Inc. (NASDAQ: SFSF), the global leader in on-demand performance and talent management solutions, today announced that First Reliance Bank of South Carolina has implemented SuccessFactors Performance and Talent Management solution to more closely-align its employees' activities with the company's objectives and move its company to a pay-for-performance culture. Employee engagement, motivation and alignment can give competitive advantage to smaller, regional banks over larger institutions.
Voted as one of the best places to work in the Carolinas for both 2006 and 2007, First Reliance takes a unique approach to building lasting customer relationships with highly-engaged, motivated employees who take an active role in growing the company. In business for seven years with thousands of consumer and small and medium-sized business customers, the bank has branches all across South Carolina, with assets of more than $500 million. From the top down, the company takes an active role in employee development and ensuring that all employees are aligned with the values of the company. Before implementing SuccessFactors, First Reliance used paper-based systems to do performance reviews which were typically conducted on the employee's anniversary date. The bank sought a more automated system to make feedback and development an on-going process, with multiple participants involved in performance reviews for a more well-rounded, accurate experience.
Pamela Anderson, senior vice president of People Management at First Reliance Bank, said, "Focusing on our people is woven in to our DNA and is core to our overall success, so we wanted a tool that would enable us to routinely monitor and maximize performance. We selected SuccessFactors, as it will help our managers identify whether employees are meeting their goals and living the values of our company. The 360 degree assessments will help us improve our talent in all areas, and the powerful writing assistance functionality will help our managers accurately articulate their thoughts, a skill set that can take time to develop. We're thrilled to roll this out across our company, and look forward to a lasting relationship with SuccessFactors."
Specifically designed for small and mid-sized organizations, SuccessFactors' Professional Edition brings enterprise class best practices to small and mid-sized businesses (SMB). First Reliance Bank is among the growing list of financial services companies currently using SuccessFactors' performance and talent management solution to help motivate and engage employees. SuccessFactors' SMB offerings -Professional Edition and SuccessPractices - are designed specifically for organizations with 25-1,500 employees. The web-based, software-as-a-service technology model enables SMBs in all industries to cost-effectively implement the technology without the need for extensive IT support.
"It's exciting to work with companies that demonstrate a passion for its people, like First Reliance Bank," said Shelly Davenport, general manager of Small Business at SuccessFactors. "Companies of all sizes, across all verticals, reap immediate value in deploying SuccessFactors, and the complete solution we provide for the small and mid-sized business truly sets us apart. We are pleased to enable the pay-for-performance culture shift at First Reliance, as it is a great way to gain company-wide alignment that drives business results."
About First Reliance
First Reliance Bank, founded in 1999, has assets of approximately $500 million, and employs over 170 highly talented associates. The bank serves the Upstate, Midlands, Piedmont, Low Country, Grand Strand, and Pee Dee regions of South Carolina. The bank has been recognized for its success including being the only company ever to be named to The Top 25 Fastest Growing Companies[TM] in South Carolina four times including 2002, 2004, 2005, and 2006 (SC Chamber/Elliott Davis. In June 2007, the bank was added to the Palmetto 25, a list of S.C.'s largest publicly held companies. In 2006 and 2007, the bank was also recognized as One of the Best Places to Work in South Carolina by the SC Chamber of Commerce. First Reliance Bank offers Totally FREE Checking, Totally FREE Business, FREE Coin Machines, a Nationwide NO FEE ATM Network, Same Day Banking, and a 5 Way Mortgage Service Promise. It also offers 8-8 Mon.-Sat. Extended Hours in all of their Florence locations. Its Easy to Do Business With[TM] standard has earned the young bank a customer satisfaction rating of 96% (Performance Solutions-June 2007-Audited). First Reliance Bank is traded as FSRL.OB.
About SuccessFactors
SuccessFactors is the leading provider of on-demand employee performance and talent management solutions that enable organizations of every size, across every industry and geography, to realize their employees' potential and thus drive business results. Its hosted service is organically built from the ground up - providing a fully-integrated, modular suite of performance and talent management applications that provide customers with immediate process benefits and tangible return on investment. Fueled by customer success, SuccessFactors currently has more than 1,400 customers across over 60 industries, with more than 2 million end users in over 150 countries using the application in 18 languages. The company currently employs more than 500 people worldwide, all passionately focused on delighting customers through prompt and effective execution and constant improvement driven by customer feedback. SuccessFactors' customers include Kimberly-Clark Corporation, MasterCard Worldwide, Textron, Sutter Healthcare, Direct Energy, Quintiles Transnational, Volkswagen of North America, Lancaster General Hospital, and McDermott International, Inc. Founded in 2001, SuccessFactors has multiple offices worldwide collaborating for strong local support of customers. For more information, visit: www.successfactors.com.
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