4 Must Have Features For Effective Performance Management Software

Performance Management & Evaluation

Performance Management & Evaluation is not only an indispensable but also an artful exercise which indirectly propels the success and prosperity of an organization. As every business needs to retain its experienced & talented workforce, enhance employee engagement, maintain a friendly corporate culture & last but not the least renovate and improve its employees’ skills, an effective Performance Management Software can be proved as a masterstroke in achieving all these requirements simultaneously in a smart way, if it is assembled with these 4 features:

• Strategy development tools: can be used to ensure that the tasks assigned to employees are directly/indirectly aligned with goals and objectives of the organization. They enable development & management of goal plans, goal library, performance review cycle, the configuration of section types (like objectives, core values, behavior, job competencies etc), content sections, weights & eligibility group mappings, the configuration of bell curve distribution graphs etc.
• Monitoring which provides transparency: An effective Performance Management Software must have a feature of getting a transparent look at each employee’s performance with the help of reports about the status of different goals & their weights for a specific performance cycle, core value reports, job competency reports, behavior competency reports for a specific performance cycle, reporting manager wise appraisal and overall performance reports etc.
• Assessment tools: like 9 box grid provides an insight of multiple dimensions like performance vs. potential, objectives vs. behavior, attrition risk vs. loss of attrition etc to accurately measure the performance of each & every employee. On the other hand designing, distribution, collection, and analysis of 360-degree feedback form not only speed up the process of performance evaluation but also provide you an opportunity to focus on different and multiple perspectives.
• Thorough analysis: With consolidated performance reports over multiple cycles (quarterly, half-yearly, yearly, multiple years) you can focus over the overall average score for an employee whereas with a feature of deep analysis you can have a view of content sections and their weights for a specific performance review cycle. You will also get recognition of stage-wise pending count for different stages like self-assessment, manager’s assessment, skip level approval, one to one meeting, employee acknowledgment and final stage for a specific performance review cycle.

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