What is performance management software? How it helps your Organization?

Simply put, performance management software enables you to manage employee performance digitally. Like any other digital solution, it provides ease of use, quick retrieval of performance data and easy access to analytics. Additionally, an in-depth solution provides a range of employee engagement and development capabilities for sustainable growth and business productivity.

Typically, the performance management software includes goals management, self-feedback, manager(s) feedback and publishing of feedback & ratings. Niche software such as Synergita provides additional capabilities such as exchange of continuous feedback on goals throughout, updating achieved targets throughout, 1–1 meeting, appraisal letter distribution, continuous feedback, rewards & recognition tools, employee development training, core values rating, e-communication and a mobile app for easy, anytime access.

Why is it necessary to have performance management software?

Can you imagine having a ledger to maintain the leave records of your employees, using it manually to calculate monthly salary, maintaining salary breakups in the account books and so on? How primitive it sounds! How tedious, time consuming and error-prone the task would be? The simple leave management and payroll software takes away your entire burden and offers you a streamlined, error-free leave and salary management. Retrieval of historical data, analytical reports all are just a click away. The software simplified manual efforts and time. The same reasoning can be applied to validate performance management software. But the benefits don’t end in storing, retrieval and analytics.

How it helps the HR team?
 
The greatest need for performance management software stems from the non-completion of appraisal within the stipulated time. As such the appraisal process is tedious — Deploying the feedback forms to all the employees, collecting self-feedback, getting managers’ feedback, collating the results (and if multiple levels of manager feedback is involved, the problem is compounded), normalizing and publishing the rating and then trying to get any business insights from the results. Even for a minuscule number of 100 employees, the process stretches into a few months and if the employee size is any bigger than 500, it is impractical to manage without a tool. When you put a geographically distributed workforce, gig workforce, and matrix workforce into this equation the problems faced by HR teams are exponential.

A performance management tool takes care of all these and more. The performance appraisal process is defined and initiated for the employees. The automatic notification and reminders takeover the task of continuous follow-up and get it done on time. HR teams can save 60% of their time and effort by using software for performance appraisal.

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Created on Mar 13th 2019 05:06. Viewed 512 times.

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