Performance management software allows organisations to monitor and improve employee performance at individual and team levels. The right performance management software will also increase employee engagement by giving employees ownership of their own objectives and personal development and enabling regular, in-the-moment feedback to be given. And research has shown that organisations with engaged employees are more productive and profitable.

Sweeping changes to performance management by influential organisations in 2015 and current performance management trends of 2016 indicate that improving performance management is a top priority for many companies. If you want to improve employee performance and transform stale offices into highly productive gold mines, then it’s time to re-evaluate your approach to performance management.

Let’s take a look at how an innovative performance management software system can help to support these latest performance management trends and improve your business’ performance:

Employees set SMARTer Objectives and manage their Personal Development Plans

Performance management software makes the process of setting objectives a more collaborative and effective process. It enables employees and managers to work together to agree SMART objectives and ensures that they align with the company’s overall goals. Employees can add progress updates to their objectives so that they can keep track of their progress and achievements.

Personal development plans can also be managed using performance management software. Personal development is a driving force for improved employee performance and engagement. Great performance management software encourages employees to update their own personal development plans, which HR can easily report on in order to plan training and development across the organisation.

Managers can capture Action Points from Check-Ins

Paper notes taken during regular check-in meetings can easily wind up filed away somewhere out of sight or just misplaced. By using performance management software with integrated check-ins, managers can capture key action points and notes online. These can be accessed by both the manager and the employee so that they can review what was discussed. Performance management software can also send out email reminders about any points that need to be actioned.

Whole teams can gain Real-Time Feedback

Performance management software allows feedback to be given instantaneously, right after an event has occurred, a key ingredient of continuous performance management. Feedback can be given by managers or co-workers and a good system will ensure that feedback is structured in a way which ensures it is either positive or constructive, maximising its impact. General Electric is one of the leading companies to have introduced a feedback app which acts as an online notebook for managers and colleagues to give feedback and provide comments for other team members.

Improve collaboration amongst teams

Performance management software is increasingly modelling itself on social media, integrating user-friendly interfaces and mobile-friendliness to improve collaboration between teams. Modern performance management software can be accessed from any smartphone, tablet or desktop.

Improve HR efficiency

Storing all of the company’s information about their employee’s performance on a centralised, online system allows for faster, more accurate performance management. HR can export performance data and download it into an excel spreadsheet, giving them visibility of how frequently check-ins are taking place how objectives are progressing across the organisation.

Secure, backed up data

Gone are the days of paper-based reports rammed into filing cabinets. Performance management software allows data to be accessed 24/7 on the cloud. At Clear Review, we use the latest data encryption technologies and we backup data every second to ensure company and employee data is safe and secure.

Performance Management Software is the future

Companies are increasingly recognising the importance of having an efficient and streamlined performance management process to improve employee and overall business performance.

“We are seeing a major shift in the industry, and as performance management continues to change, so must the technology solutions that support it,” says Katherine Jones, Ph.D., vice president, HCM Technology Research at Bersin by Deloitte.

She adds that: “Organizations today have a need to provide ongoing feedback, a link between individual goals and company-wide objectives and a multi-dimensional view of employee performance. It’s exciting to see solution providers offer features that support those activities.”

Innovative and thoughtful performance management software systems are an integral part of developing efficient teams and successful organisations.