07 Apr Searching for the Best Performance Management Software? Make Sure It Has These 3 Features
There is no single performance management solution that will work best for every company. Each organization’s needs vary depending on its values, company culture, size, and overarching objectives. With that being said, there are a few non-negotiable features that all of the best performance management software solutions have. When searching for an option that best fits your company’s unique needs, make sure it has the following:
1. Real-Time Capabilities
The annual performance review is dead, according to SHRM. And for good reason – the process is time-intensive, costly, and ineffective. In its place, organizations are taking an ongoing, real-time approach to performance management by encouraging managers to give timely, coaching-style feedback to support skill development and improved performance for their employees. It’s paying off, too: Forbes reported that after Adobe implemented software that encourages real-time performance management, its shares rose 68%.
Bottom Line: Make sure your performance management software has tools such as real-time reporting that will allow managers to give timely feedback to employees, which has the greatest impact on improving performance.
This may sound a bit broad, but take a moment to consider it. One of your goals in implementing performance management software should be to simplify your existing processes, not to complicate them. The best performance management software options never require you to change your workflow; instead, they offer solutions that fit with the processes you have in place. Focused templates, automated review features, and strategic development plans are all tools that can make managers’ jobs easier, instead of further complicating things.
Bottom Line: When researching your software options, take a look at the features, and make sure that they encourage simplicity and fit with your existing processes.
3. Goal Setting/Alignment Tools
You already understand the importance of setting organizational goals: without them, there’s no way to measure success. But points out some additional reasons why setting goals is so important: it allows you to reassess your priorities and switch gears as needed, it develops cohesion between leaders and their teams, and goals-related results give you the invaluable knowledge you need to inform future business decisions.
Yet, while goal setting is important, it can be extremely difficult to align an entire workforce around company goals. That’s why effective performance management solutions encourage cascading goal setting, so that each employee’s efforts contribute to the success of organizational goals. Your solution should also facilitate year-round goal tracking.
Bottom Line: Any good performance management software aligns company goals and makes it easy for everyone in the company to set and track goals that support the overarching priorities of the organization.
While your company may need a software solution that delivers other features to best support its objectives, HRsoft’s PERFORMview software has all of the features described above and more. To learn about all of its tools and capabilities, you can view a short demo and data sheet here.
HRsoft is a leading provider of strategic talent management software that improves manager effectiveness and business results. Our full suite of cloud-based HR software solutions includes applicant tracking software, compensation planning software, total rewards software, stay interview software, performance management software, and content management software. To learn more about our Performance Management Software, PERFORMview, click the button below!