Employment related decisions have always been challenging. There is so much about management that can seem subjective, and it is difficult to keep track of everything to get a clear picture of what is really going on. And when you are making decisions about which employees you want to keep, and which to let go, you want to see clearly most of all.
Companies have manual processes to help with making employment related decisions, like the annual performance review, but these processes are not adequate to the task. That is why performance management software has become increasingly popular with companies, ranging from Fortune 500 companies to small and mid-sized businesses. It gives you the ability to keep all the relevant information you need in one place – and to compare that information so you can make sound decisions about your employees.
Making The Right Decisions for Employees and the Company
To make the best decisions, you need to have the right data. Performance management software allows you to rate your employees in a way that makes sense for your organization. You can rate employee performance so that both you and employees understand what is working, and what is not. And you are not limited to conducting reviews once a year – you can schedule reviews quarterly, after the end of a project, or at whatever point you prefer. The data is organized, accessible and easily compared for decision-making.
You can view the performance of an employee in relation to his or her performance at other times, identifying trends of improvement or of difficulties doing the job. From the first time the employee completed a review with your company, until right now, you can observe trends for easier decision making. You can also demonstrate trends for coaching purposes.
Information is Easily Accessible
If you are familiar with using an old paper system for performance management, you know how challenging it can be to bring together all the information you need to make a decision – especially if someone failed to file it correctly. Pulling files from all over the room, or in other parts of the building, to access information is no longer necessary with a software solution. You simply input the information you want and it is immediately at your fingertips.
Changes Can be Made Quickly
Using a paper system is time consuming. With a software solution, you can change and adapt as needed with relative ease. They system aggregates the data, and adjusts to any changes you make almost as soon as you make them. When you want to move your organization in a different direction, performance management software helps you do it quickly and easily.
Management, employees, HR – everyone wants a fair system, Performance management software makes it easier to ensure fairness, because once the details are set according to the needs of your organization, the system never varies from those parameters. Everyone is measured equally according to the rules. Incentives and increased in pay are decided based on data.
Keeping Track of Management and Employees
Performance management software lets you determine what employees or managers have not yet completed specific tasks. Because you know what has yet to be done, you can notify the individuals and keep things moving along to adhere to your timeline.
The Benefits of Having Current Data
Employee related decisions often need to be made in the here and now – the sooner a problem is addressed, the sooner improvements can be made. Performance management software, when combined with a more frequent, simplified review process, allows managers and HR to keep track of what is going on with employees to a much finer degree. In contrast to the old paper-based annual review system, now you can quickly view information about employee performance that is recent.
Keeping the Best Employees
Every company has some great employees – but sometimes they can be hard to spot, getting lost in the hustle and bustle of the hectic business environment. Not every great employee is an extrovert. Fortunately, with performance management software, even the most quiet employee will still manage to stand out through performance reviews. With a fair system, all of the best employees can be rewarded, encouraged, given incentives and shown their value.
Getting Regular Feedback
One of the keys to good management is inviting and listening to the feedback of employees. A software system lets employees give their input more frequently, and helps to keep track of that input so management can access it when they need it. Management and HR can also respond to feedback as they see fit, encouraging open communication which makes employees feel listened to and helps management stay tuned in to what is going on with employees.
Creating Genuinely Useful Development Plans
An effective employee development plan often takes completing a lot of small goals to achieve a larger goal – which means many employee development plans never really go anywhere. With performance management software, you can create comprehensive development plans that keep track of progress, include coaching meetings, offer education opportunities and more. Both you and the employee can see the progress as the employee advances through the plan towards the development goal.
Sometimes you need information, and you need it immediately. Online performance management software allows 24/7 access to anyone with the necessary login credentials. Whether you are trying to make a decision in the office, at home or on vacation, you can still get the information you need when you need it.
Performance Management Software Solutions
Online performance management software solutions are the key to making the best employment related decisions – driven by data and sound judgment. If you are ready to take your performance management system to the next level, please contact us, and we can set you up with a live demo of Trakstar’s performance management software.