So what is Performance Management Software all about?

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So what is performance management and performance management software all about? Well, it’s all about improving business performance by stimulating employee productivity. The aim of which is to keep individual employees and teams engaged, aligned, motivated and focused on the organizational goals.

Performance management software then replaces the need for the dreaded annual performance review and paperwork with real time data, tracking, goal setting and feedback. This then develops into performance coaching and allows you to understand your employees drivers and ultimately unlock their potential.

On top of this, WorkCompass’s software for example enables adjusting an individual employee’s goals, targets and expectations as conditions change. Many HR experts believe that annual reviews focus too much on the past and not enough on looking forward or future progression.

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The Goal of Performance Management Software

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The goal of any software is to make the user’s job easier. In this case it allows HR managers or professionals to address the need of an organization’s dynamic and modern goals and to easily monitor performance while simultaneously giving employees support and feedback. The software allows you to track individual contributions in a specific team, to measure a team’s ability to meet its objectives or where they are on a specific project as well as showcasing via heat map, areas of improvement or attention within the company.

A performance management software also aims to increase employee engagement by giving the employee ownership of goal setting with their manager as well as areas they wish to develop further in. This ownership leads to a more engaged employee and one who is more focused on achieving their targets. The software allows the manager to track progression and efforts on specific projects and at the same time can offer coaching or support in areas to help them achieve their goals.

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The Benefits

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The immediate benefit of a performance management software is saying goodbye to that tedious end of year annual review process where the HR professional has a mountain of paperwork and the employee is trying to remember every single thing they did over the past 12 months.

For the best results, any performance management needs ongoing use but what it does is encourage ongoing or regulate performance conversations between employees and managers. Another feature which is highly sought after is 360-degree feedback which allows input from employee supervisors but also their peers and subordinates.

Another benefit of the WorkCompass software for example is the dashboards it creates for quick and collaborative reviews.

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The future of Performance Management Software

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There have been many advancements when it comes to this area of human resources software. The main one has been the use of artificial intelligence that can remove gender bias and learn what motivates the individual. WorkCompass is leading the way with its proprietary AI software which helps employees when it comes to goal setting while the AI helps managers deliver performance coaching feedback for example.