The days of traditional organizational designs supporting static business model are now gone forever, challenged by disruptive new comers such us Uber and AirBnB. Companies that are more than a decade old might be challenged at any time by the new entrants who utilize new digital values to bring in competitive advantages to the market. Organizations that want to survive must understand the critical of human capital in the new economy. Josh Bersin, a noted thought leader in talent management, rated talent management as one of the key drivers of sustainability in a report published by Deloitte Report 2017.
It is undeniable that ongoing employee talent, training and skills development plays a huge role in business success, therefore a new age of Human Resources Management Software which include Talent Management has been a high priority purchase for companies who want to maintain their business performance and sustainability.
In this topic, we shall touch on two areas of Talent Management, namely Performance Management and Training Management.
What is Performance Management Software?
Performance review is an important way for employers to gauge the success of their employees, and especially for the employees to know where they stand within the company. While there are various ways to conduct a review, with the help of a software, this task can be made easier.
Five Reasons You Need to Switch to Web Based Performance Appraisal System
Managing Performance is probably the most complex responsibility in an organization, however do so effectively and you’ll have a team of motivated and productive employees who are consistently engaged in their work. Today, many top companies have transitioned to a web based system, reason being, today’s business landscape has changed so much from that of years past. Below are some of the reasons why you need to approach a more agile performance management.
Encourage Continuous Performance Management
Performance review used to be limited to once or twice a year. Employees in this case needed to think back over the year to document what the progress had been toward career goals. Now we live in just in time information age and performance review is no different.
Managers and staff are both encouraged to enter performance notes as projects occur. This contributes greatly to staff morale as feedback is continuously taken.
Employees are Losing Productivity
When an employee is performing poorly and manager has to wait til the end of assessment year to address the issue, imagine the time that has gone by which could have been used for improvement. With timely web based system, managers will be able to provide regular correcting guidance.
Employees Deserve Well Rounded Feedback
For a GPS system to get an accurate picture of your location, it requires four different satellites. A perception of oneself is rarely accurate or predictive, similarly for employees to get an accurate picture from themselves, they need feedback from their managers, peers, direct reports and others in the organization.
Deliverables as the Key Focus
In an HR market, a traditional performance approach is not sufficient, workers are often time having a manager which is in a different location or time zone. An HRMS will help to facilitate this process by allowing managers and employees to have an information discussion and track the result. A web based system will allow managers to create robust goals for their employees and monitoring them. An increased communication and clear goals will help to measure an employee’s success.
The Annual Review Can’t Asses a Year’s Worth of Work
Employees shouldn’t be measured on an entire year’s worth of performance based on one formal meeting alone. Not only will this approach be uncomfortable for both managers and employees, it is also simply unrealistic to expect a manager to give a fair appraisal of 12 months’ worth of work in one sit-down session.
If you are wondering how to keep a workforce not only engaged but also productive in your company, make sure you move to a lightweight solution of real time feedback. An employee driven self-management is also a huge relief for both managers and HR respectively. This will save a lot of time and allow the managers to focus more on their key leadership skills with the common goal of spending more time in coaching and engaging people. To think about it, when was the last time you got a great feedback?