In a world where people have become accustomed to giving and receiving instant feedback on a regular basis, annual paper-based reviews seem like a throwback to a different time and become difficult for Performance Management. By integrating technology, employers can make the evaluation process more objective, transparent, and credible while managing performance more constructively year-round.
Technology vs Tradition
Few employers question the need for effective performance management these days. It’s widely recognized to play a critical role in motivating and retaining high performers, aligning individual employees’ goals with organizational objectives, and increasing productivity.
But it’s also widely recognized that the traditional approach to performance management—the annual performance appraisal—has lost its shine. At that point, 49% of HR professionals already believed their performance review process needed to be reevaluated.
Employers can leverage technology to collect more objective performance data on a real-time basis. A technology-based performance management system can touch on many of the most vital HR areas—from goal setting to career development—to boost productivity, optimize compensation, and improve retention.
Revolutionize Your Performance Management System
Setting goals for employees has become much more complicated than in the past, especially for employers that are unwilling to let go of their traditional annual approach.
With performance management software, you can set overarching goals for the organization and then align individual goals with them. This is sometimes referred to as “cascading goals”.
Monitoring Performance management
Managers can use performance management technology to easily monitor employees’ progress toward their goals, immediately reinforce progress, or offer coaching when necessary to bolster performance and get back on track to meet deadlines.
Technology also lets managers track progress toward organizational goals and identify competency gaps that require attention. For example, departments with high turnover might need some leadership training.
Track of Training & Development of Employees
One of the more apparent signs of the continuous performance management is the spread of employee training & development in the workplace.
The human touch is essential for effective training, and technology can guide managers, many of whom are still struggling with how to tackle the new responsibility. Software helps to keep a track record of employees time to time training such as office communications, interpersonal skills, and sales techniques.
A Technology based Performance Management System can develop evaluation reports, determining compensation, facilitating reporting and compliance, and more.