COVID-19 has completely changed the way organizations work today. With most of the workforce still working from home and processes gone virtual, it is crucial to have an effective performance management process in place. While paper-based or traditional performance management processes would have been feasible if the workplace was not remote or organizations were small. But considering the current scenario, organizations need to invest in performance management software to manage their employees.
In this article, we will highlight how having performance management software can benefit your organization in this era of remote working. Here are the reasons.
Effective Goal Setting And Management
A recent study by Gallup indicates that about 50% of employees do not know what is expected of them at their workplace.
Performance Management Software or PMS allows organizations to set well-defined goals for their employees. It helps employees to align their individual SMART goals to the company’s vision, mission, and goals. They offer better visibility of goals and help everyone understand how their efforts contribute to the higher-level goals. Moreover, it allows managers to track and measure progress and provide feedback on goals whenever required. It not only makes the process of goal setting simpler but also makes it easy to track and manage them.
Feedback, whether positive or critical, is crucial for employee development. Additionally, it is also responsible for driving employee engagement and retention. But feedback can only have an impact when it is on time. Having performance management software helps feedback to be instant and real time. Managers can share their feedback whenever they want, irrespective of different time-zones and geographies. It helps in facilitating two-way communication between the employees and their managers, improves collaboration, and thus helps in building a strong team.
Multirater assessment or 360 degree feedback is one of the most popular modules in Performance Management Software. In this process, employees receive anonymous feedback from people with whom they have a working relationship. These participants include peers, direct reports, managers, customers, and even vendors. Employees receive a comprehensive perspective of their performance and behavior. It helps them bridge the perception gap that exists between self-evaluation and what others think about them. Moreover, it helps them understand their potential blind spots and gaps. Since feedback is from multiple sources, it is less affected by bias and is more acceptable to everyone.
Celebrating Small Wins
Most performance management software has an in-built employee recognition and rewards module. It helps managers and leaders to celebrate the small wins of their employees. It is human nature to love appreciation and praise for their hard work. So when employees receive appreciation or rewards, they feel motivated and engaged. It increases job satisfaction and happiness at work.
Engagedly’s Real Time Performance Management Software comes with a public praise option, where employees can praise each other.Managers and other leaders also have the option to award points for the accomplishments of their employees.
Performance Management Software collects data over time and provides a detailed analysis of employee’s performance. With the help of detailed charts and graphs, managers get a clear idea about the performance trends of the employees. It not only helps employees to assess their own performance but also acts as a guide when deciding on skills and developmental needs. Moreover, the analytics report of the performance management software makes the quarterly, half-yearly, or yearly review process more productive and saves time.
Are you looking out for a performance management software for your organization? Then request a live demo.
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