Providing regular feedback is an important aspect of leadership that keeps employees feeling engaged, motivated and appreciated. With HR performance management, it is easier than ever for HR professionals to provide this feedback to their employees.
What is HR performance management software?
The name says it all: an HR performance management software offers a digital space for HR professionals to assess employees’ workplace performance, provide constructive feedback, and set individual and company objectives.
Keeping such data organized and structured in a cloud-based system allows businesses to put the information they gather to good use. This new technology is becoming an increasingly necessary tool for workspaces across the world for three main reasons.
- Provides meaningful feedback
First, and most important for many employees, HR performance management software can provide employees with consistent, meaningful, real-time feedback.
Through new HR performance management software technology, tracking and improving performance becomes more transparent for both employees and employers. By keeping administration in the loop on performance elements, such as overall contribution to larger goals or leadership accomplishments, an increase in morale, motivation and retention can be expected.
A large part of this can be attributed to the expectations of employees to see their results quickly, which results in drastic improvements to performance, according to National Geographic.
Praise of improvement is important to keep workers happy – in fact, 37% of workers say it is the most important element of a workplace. Over 30% of millennial workers desire weekly feedback in the workplace.
Additionally, this progress will not be lost, forgotten, or diminished if a change of HR staff occurs, leading to an increased sense of trust between employees and employers.
- Assists with objective setting
Setting objectives and goals for teams and individuals across your company is vital to creating an engaged, focused and highly productive team.
Individuals with clearly defined long- and short-term goals are approximately 10 times more likely to succeed than those without them, according to a Harvard study. An efficient and effective objective-setting communication system provides employees with the information and security needed to go the extra mile to achieve their company’s goals.
By utilizing the tools provided with HR performance management software, employees can directly see how their performance correlates to larger goals as well as if and how management rewards those who are goal-focused.
Alongside company goal setting, when HR staff is capable of seeing all performance statistics in one place, it is easier to see which training initiatives should be taken with staff members on a company-wide and an individual level – it can even act as a good reminder that oftentimes, the not-so-recent hires can sometimes use a freshening up on company policies and procedures.
- Easy to use and access
For those who struggle with the ever-changing technologies of the modern world, it may be comforting to know that the majority of the HR performance management software is easy to use. While learning how the program works might take some time, it will not take nearly as long as handling every employee performance assessment manually, at least in the long term. Instead, you can access all information from one place.
Performance management software: worth the investment
If companies do their research and find software that is compatible with all ages and abilities of their workforce, successfully integrating HR performance management software will be no trouble at all.