Managing employees is a key role for all HR professionals that enables them to keep the company running smoothly. However, this can be a mammoth task when running an organisation that has hundreds of employees or more and operates on multiple levels.
Hence, manual undertaking of each aspect of employee management becomes tedious, thus leading to human errors. To add, the task can also take up a lot of time.
This necessitates deploying an Employee Performance System.
Understanding the Employee Performance System
To streamline how the performance of each employee is being tracked, goals are being assigned, and if employees are adhering to organisational values, a systematic framework needs to be developed. This is the main idea behind designing an Employee Performance System.
Having a set framework allows both the HRMs and the Team Leaders to identify each employee and how they are performing based on their targets and metrics, as well as create tailored plans aimed at enhancing their skills.
Exploring the Benefits of Opting for an Employee Performance System
We can talk about the pros of any tool, but the best way to explain them is by evaluating statistics.
Statistical Data for Employee Performance System
As per SRHM and Gallup, 95% of managers do not hold the employee review system in high esteem. However, only 46% of organisations have updated the way they perform employee reviews.
By using proper review and performance management tools, an HRM can boost employee engagement by 70%, as stated by Gallup. To add, they can also reduce turnovers by 14.9%, thus reducing the costs of hiring and training a new employee.
Contributions to the Organisation
In qualitative terms, using an Employee Performance System can lead to the following:
- Create an unbiased review and monitoring system
- Boost employee engagement by providing constructive feedback
- Motivate workers by providing them with fair reviews
- Make sure that organisational goals set are met
- Ensure that evaluations are supported by data
- Map out career paths that are tailored to each employee
- Identify if workers have a gap in their training and design reskilling programs
- Identify workers who have the potential to work in leadership roles
- Provide continuous and accurate feedback that in turn increases employee retention
Managing Employees Using Software Tools
Manually conducting employee reviews, tracking each goal, and providing feedback can be a huge task that requires a lot of time and labour. By using software tools that are fed employee data regularly, this can be done in a short timeframe and with fewer human errors.
Popular Software Tools Available
Some of the best options for Employee Management Software are:
● Success Circles™
Success Circles™ is an AI driven platform that analyses employees based on performance and potential, and creates a visual representation in terms of:
- Leadership
- Development
- Performance
- Communication
- Culture and brand
Thus, it creates a comprehensive analysis of each employee by accounting for their achievements, awards, and appraisals that gain details over time owing to repeated inputs.
● BambooHR
Being an easy-to-use tool, this allows managers to conduct evaluations, streamline HR functions, and provide effective feedback to the employees.
● Lattice
An AI and cloud-based HR tool that allows companies to take up employee performance management, conduct reviews and appraisals, determine compensation, and create career plans. HRMs can use this software tool to gather data driven reports and employee insights.
● ChartHop
Designed to be a People Ops Platform, ChartHop uses your employee data to create a visual analytics dashboard that helps you boost employee engagement through better employee management.
● Qualtrics
This is a cloud-based Customer Experience Management (CXM) platform. While this is not a dedicated HR tool, it provides its users run analytics and get graphical output for data entered.
Are Software to Manage Employees Beneficial?
Using software to manage employees, HRMs can ease their workload.
These in turn boost organisational efficiency, thus being beneficial for the company as a whole.
Evaluating Your Options for the Employee Performance System
When selecting an Employee Performance System for your company, as an HRM you need to select an option that suits your company best. You might be thinking that being part of a smaller organisation, you do not need the help of software tools.
However, in the growth of a business, an important step is scaling up your operations and workforce. As soon as you start expanding your workforce, the task that seemed manageable will turn tedious leading to errors.
Further, using software to manage employees creates a system that is data-driven, accurate, and does not contain human bias.
USPs of a Software to Manage Employees
Way Forward
Whether opting for Success Circles™, BambooHR, Lattice, or any other HR tool, evaluate your organisational needs carefully before selecting a software. Further, these should be user friendly to ensure that each employee is able to use these.
Providing fair reviews using an Employee Performance System, encourages your employees to do better, thus increasing performance as well as retention. Use a software that generates a detailed, objective review using analytics for your organisational needs.
