Why do you need a Real Time Performance Management Software

by Chandler Barr Sep 25,2020

The People Strategy Leaders Podcast

with Srikant Chellappa, CEO

Covid-19 has changed the way we work today. We all know that! As everything turns virtual, it’s become necessary to have a performance management process in place. If cultivated right, it motivates and aligns employees to the company goals. For those many companies who are still using traditional paper- based processes to track and record performance management, it’s highly difficult to extract or collate data. Now that the world has moved to remote working, why not change with situation and embrace more efficient business processes?

Earlier, annual performance reviews were the indisputable norm, and it used to be dreaded by both the managers and the employees. Today, though, performance management has evolved tremendously, making it more flexible and inclusive. Traditional performance processes work fine when organisations are small or have a very simple review process. But once organisations get bigger, and job roles get more complex, there’s a need for software to enhance the process, or rather, to ease the process.

We would like to elaborate on how real-time performance management software can benefit your organisation. Here are the reasons:

Also read: Know What Features To Look For In A 360 Feedback Software

Easy to use:

Depending on the choice of software, a performance management software can be extremely easy to use. All the things required for a review cycle are in one place. Most of the processes are automated, and once the review information has been submitted – start dates, review templates etc, there’s not much else an HR manager has to do, except oversee the entire process.

Even better, HR managers don’t have to frequently remind employees to complete their reviews. Most software has built-in reminders that will urge employees to complete the review process. The software takes the burden off HR’s shoulders and instead allows them to focus on the outcome of performance reviews.

Integrated features:

If you think that a performance management software focus solely on the review processes alone, you are mistaken. They offer other features as well, such as the ability to share feedback, goals and objectives, an LMS, etc. All these features are often integrated so that when the review process is going on, users can view an employee’s complete profile, such as the feedback they have received, the goals they could complete, to what extent they could complete their goals, or even what new skills they have learned.

Performance management software offers a macro view of an employee’s performance and helps others make informed decisions during the review process.

Well-defined goals:

Imagine a situation, wherein a remote employee is expected to put in his or her 100% effort but is not sure what’s the end result of this. Do you think she or he will be able to put in the right kind of effort? Performance management software enables the company to have clear-cut goals, and make them visible to every employee. Every worker gets to see how their effort can help the company achieve higher-level goals.

When they see how they can make an impact at the individual level, it makes them want to strive harder. Managers can easily keep a track of their team performances remotely and can provide feedback accordingly.

Real-time information:

The best part about real time performance management software is, you can access data anytime, and it helps to make quick and efficient decisions. They provide old as well as new data in one place, for you to compare and understand patterns and identify any gaps or bottlenecks. It becomes easy to track the performance level.

Also read: How Important is Feedback in Today’s World?

Insights on performance:

Performance management software can provide a very insightful look at an employee’s performance. This is not just related to ratings and feedback they have received over the past years. Rather, many performance management software also offers performance analytics that track employee performance in graphical chart format, calculate leadership potential, etc. This way, you can also track how well an employee is performing.

These employee data can help others make informed review decisions when reviewing performance. And they can also help managers make compensation decisions or even promotion decisions.

Efficiency in control

When everything is in one place, a lot can become easier. Conducting the review process through performance management software offers HR managers greater control over the entire process. They can control when the cycle starts and when it ends, how many employees should participate in the cycle, etc. HR managers can also restrict review visibility, call back reviews etc, thereby also maintaining a fair and just review process.

As a manager, you have a ton of other responsibilities, other than just tracking your employees’ performance. So if you wish to be more efficient and handle things with ease, a performance management software is your go-to option.

Engagedly is offering a suite of products part of its Remote Work Toolkit free to any organisation, until Sept 30th, 2020. 

The Coronavirus has affected the way we work today and for months to come. Unprecedented events require unprecedented measures. We at Engagedly believe it is our responsibility as socially conscious corporate citizens to help equip organisations with additional tools and resources during this time of crisis.

Do you want to know how Engagedly can help you with seamless Performance Evaluation? Then request for a live demo.

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Chandler Barr
VP of Sales

Chandler Barr is the VP of Sales at Engagedly and is focused on driving a culture of progress over perfection in a no-fault environment where employees are secure and encouraged to think creatively to solve problems. Chandler is a seasoned leader that has scaled sales teams for SaaS startups and multibillion-dollar publicly traded tech companies, as well as, led Marines to accomplish the mission during hardships overseas.

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