Companies are starting to use performance management software as a tool to help better understand their employees' performance and productivity. Managers can easily track, analyze and evaluate workers to ensure goals are met and issues are addressed right away. The data gathered from software can help with just about anything relating to human capital management including career trajectory, hiring decision, company goals and performance reviews.
Though performance management software isn’t a new development in HR tech, it also isn’t one that remains stagnant. As more advancements are made in technology, this key tool adjusts to trends and the changing needs and desires of employees and employers.
You should consider investing in performance management software if:
Why Implement Performance Management Software?
There are many reasons to implement performance management software, and most lead back to an increase in communication and expectation clarity. Imagine a highly-talented employee. She has worked for her organization for over a year and has demonstrated obvious talent for the role. Her manager has discussed the possibility of advancement in performance reviews and she has expressed interest in becoming a leader.
Unfortunately, after reviews are completed, her appraisal is put into a folder and no set plan is created. Her leader, though convinced she will be an amazing asset in management, has to choreograph her movement through in-person conversations and verbal direction. It takes a significant amount of time to create actionable goals and assess the progress of tasks around them, and because there’s no structured process, many of those goals are spur-of-the-moment assignments with little connection to future impact. Not to mention, the manager has 10 other employees to lead (and submit paperwork for) as well.
Meanwhile, the employee feels confined to her role, unable to see how her work is contributing to her future as a leader in the organization. After months of what she feels is hitting and exceeding goals with little reward, she pursues another employer. However, from the manager’s vantage point, the employee is meeting goals, but not the new ones necessary to advance. Even worse, a few weeks after the last performance review, the employee’s supervisor was moved to another team, and now the employee has to begin building rapport all over again with a new leader.
If this employer had adopted performance management software, the employee would have had a better idea of the new goals she was expected to meet. The supervisor would have had a structured program to create solid plans where both leadership and the employees could see career planning and future trajectory. The employee may not have considered new employment had she understood her expectations. Even more, the manager replacing the previous would have a more accurate idea of the department’s progress, improving their time to proficiency as well as helping the employees feel like they weren’t starting their careers over again with someone new.
Performance management software addresses these issues and more thanks to features such as:
Quality of Hire Data & Predictive Performance
Data collected from employee performance helps make career trajectory decisions for internal hires, but can also help influence better external hires. Predictive performance features guide employers’ decisions in hiring for any role, executive or entry-level.
If there is one thing talent acquisition and HR teams understand, it’s that hiring a new employee means making a long-term investment. No matter how experienced or educated the hire happens to be, guidance, training and support is crucial from day one and on. Performance management is a critical step in an employee’s career and is a mutually beneficial practice that can mean increased engagement, productivity levels and satisfaction.
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