Why You Need Performance Management Software

The performance management system within HR departments is constantly evolving. It must flex and change, supporting both company-specific growth, and industry-wide trends. It’s an integral part of HR’s responsibilities, so why then do only 10% of organizations believe their current performance review process is worth the time, manpower, and costs required to execute it?

Something’s very wrong with a system that 94% of users have no faith in; innovative HR leaders using new technologies must strive to fix this problem. At PeopleGoal we’re focused on guiding and supporting those HR leaders, helping to upgrade performance management processes. That’s why we’ve created this at-a-glance list of reasons why we think performance management software is definitely “worth it” for organizations and HR leaders alike.

Reason 1: Modernizing Paper-Based Spreadsheet Methodologies Will Save You Time and Money, Optimizing Your Processes.

Let’s face it, offline document tracking is a pain. Inevitably, everyone has a different version, changes are lost, and key pieces of information are erased or forgotten with reformatting and version evolution.

However, when you migrate your paper-based performance tracking to an online platform, all of your employee-related processes filter into one virtual location, improving performance and transparency across the business. Management has the much-needed visibility to easily identify performance hotspots, and information “vaults” are created with feedback, career development process, check-ins, and peer-reviews online and available 24/7 to anyone who needs them (and has permission access).

It’s an easy, single-location reference. No virtual files to track or check in, and no more file cabinets full of paper. Online platforms give a more accurate snapshot of an employee’s (and manger’s) development and performance over time.

Additionally, attrition and retention factors can also be tracked when analysing data trends and reports—something that is virtually impossible when utilising paper-based spreadsheets.

Reason 2: Software Makes the Performance Management Process Specific and Catered to Your Business.

With performance management processes, a one-size-fits-all approach is a bad idea. You need to be able to tailor your performance management systems to meet the needs of your company’s goals, regulations, etc. The customisation that is available from quality online performance management systems allows for organisations to add features which are important to you. And with customizable reporting, you’re able to create various reports based on your organization's specific needs.

You can also sort and pull data as needed. If your organization is heavily focused on certain development features—a compliance development for example —you simply select that module as part of your online platform, tracking development and training requirements for the entire organization.

Reason 3: Software Provides a Needed Infrastructure to Shift from Annual Reviews to Continuous Feedback, Making That Transition Easier and More Integrated.

Shifting away from annual reviews to continuous feedback is a proven model for increasing both employee and manager engagement. With 71% of people in an Accenture study confirming that real-time feedback leads to improved performance, employees can make better decisions with more readily available data. Reviews can be referenced and tracked to plot out an employee’s growth (and success trajectory). Issues can also be addressed and resolved quicker.

Many managers find the performance cycle too complex and time-consuming, so they just don’t bother to participate. With feedback any time, managers have the tools needed to provide accurate, relevant, and current feedback easily, versus referencing past actions and end-of-year reflections.

Finally, many software platforms are integrated with other technology components within your organization, allowing you to seamlessly move from one software to another—no need to duplicate your employee information across two accounts. PeopleGoal is integrated with a variety of SaaS applications including BambooHR, Slack, Dropbox, LinkedIn, Google, and many others.

Reason 4 : Technical Support—a Final Key to Finding (and Retaining) Software’s Worthiness.

A quality performance management software provider will never leave you to manage the software implementation and maintenance by yourself. A good provider will help you adapt, handling any problems that may arise. Once you’ve made the decision to implement performance software and have your boss’s buy-in, on-boarding your business can be the toughest part of starting a new service. Bottom line, you need a software vendor with a consultative approach. If you decide to spend money on software, you should be willing (and able) to use it .

And here are a few proven results from PeopleGoal to further support performance management software’s worthiness:

Employees

• 100% participation in reviews, 85% before the deadline
• 3x improvement in manager-employee communications and role expectations when using monthly check ins
• Improved visibility of company goals and objectives

Managers

• 70% reduction in manager time spent discussing employee performance
• 2x increase in constructive feedback given across the business

HR

• Improved perception of performance management process for managers and employees
• 90% reduction in HR time spend to manage performance management process and performance management reporting

Management & C-Suite

• Improved employee engagement levels across the company
• Easier to cascade company objectives and goals to the employees

At PeopleGoal We're Not Just Interested Selling You Software.

We’re looking to create a long-term relationship, with a real focus on your specific needs and individual people management requirements. We’re here to assist you in adapting, staying by your side from start to finish, with our consultative approach to customisable employee management systems.

We’re looking to create a long-term relationship, with a real focus on your specific needs and individual people management requirements. We’re here to assist you in adapting, staying by your side from start to finish, with our consultative approach to customisable employee management systems.