What Does A Performance Management Software?
Performance Management Software is a platform that constantly tracks the performance of the employees in order to measure the same. It enables the employer to ensure that the workers throughout the company are working effectively in order to achieve the strategic goals of the business. This software can speed up the process of managing the performance to assist the organization in making better decisions. performance management system analyzes the past performance, Key Result Areas (KRAs), Key Performance Index (KPIs), etc., to give reports about the employees’ outcomes. This platform assists the employees to stay focused on their jobs and increase their productivity to align with the organization’s growth.
Effective Performance Analysis
An performance management software by which you can measure your workforce’s performance and specify goals for your employees and departments.
Track employees performance throughout the year for making an adequate amount of appraisals to retain your best talents in your organization.
Review and Feedback Measurement
Gather reviews and feedbacks from all your workforce to identify hurdles faced by them to perform better and also improvements which can be done in training sessions.
Performance Appraisal System Suitable For Any Type Of Organization
FactoHR’s Employee performance appraisal system is made for all type of industries and organizations, therefore we provide many configurable modules to best suit a company’s hierarchy and policy.
Performance Management System Overview
With a dashboard you can get a birds eye view of your performance process. You can also configure it as per your need.
Easily define fixed and variable pay for each and every employee or department to integrate with their payroll cycle.
We provides you pre-configured set of industry wise templates to start performance program from day one.
Make your workforce performing towards achieving your organizational goal by keeping track of milestones achieved by your employees and departments.
Create organizational & employee goals to continuously monitor performance and provide necessary actions relevant to achieving the desired goals.
KRA & KPI
Manage all the employees KRA & KPI data to measure their performance indicators for distinguishing the non-performers and taking necessary actions.
With goal variance, you can easily monitor the deviation in the path of achieving your goals and improve your efforts on time.
Custom Metrics & Rating
You can create your own rating and metrics that are in line with a defined goal, KRA and KPI to measure the performance of the employee.
With cascading goals, you can create hierarchical and multi-level goals which incorporate different departments & levels of your company to parallel work for achieving one or more task.
Make a detailed training schedule including the modules to be covered within it & track the progress of the workforce with respect to training sessions.
Collect feedback from your co-workers and managers of all departments to gather information for improvisation of training techniques and identifying the expected outcomes of the sessions.
Explicitly define the amount to be spent on your employee’s training. Invest only in sessions which are necessary & productive for your company’s staff
With our employee performance system you get a detailed report of the training sessions including the duration of the training, a number of participants, trainer, modules covered and areas which will be benefitted by it.
With FactoHR Performance Management System you can easily initiate reviews to collect performance and quality related information from managers and employees.
Configure a customized review cycle with our performance management system for your organization to get monthly, quarterly or half-yearly reviews from your staff.
Your company’s managers will be notified through auto-generated emails regarding pending reviews of his/her subordinate employees.
Gather reviews from subordinates employees to analyze the performance of employees and managers for providing an appraisal that a particular employee is deserving.
Employees are allowed to give their feedback in our system to acknowledge the management regarding any issues faced by them which might be hindering their performance.
Our system allows you to get a review report from all of your employees so that management in your company can make desirable changes for more productivity and efficiency in task completion.
Training Requirement & Delivery Report
We provide an in-depth report of training sessions which were conducted and how they were delivered so that management can take decisions for implementing training that practically helps the staff.
KRA-KPI report is a measuring milestone for an organization to know how effective it is performing in achieving organizational goals. With this report, a company can determine non-performing areas & can work on it for improvement.
Your company’s managerial authority can go through training summary for having a brief idea regarding what things were included in the sessions and up to what extent they were beneficial.
FAQs About Performance Management System (PMS)
What is a performance management system?
A performance management system popularly known (PMS) is a mechanism for tracking the performance of your employees consistently. It allows you to ensure that they employees and departments across the organization are working effectively to achieve the businesses’ strategic goal.
Organizations today are starting to move towards the modern Performance software, away from the complex manual performance measuring tools. A recent report by Deloitte shows that nearly 70% of organizations have chosen and initiated reinvention of their performance administration process.
What do you mean by KRAs and KPIs?
Key Result Areas (KRAs) refer to a list of overall goals that guide the way an individual does his/ her job. It may also be understood as the general achievement and progress goals for an organization or one of its divisions. They help in defining the scope of a job or a department and define the prime outcomes and results of day to day work. KRAs are critical for an organization’s or an employee’s success.
Key Performance Indicators (KPI) are the metrics that measure if the organization is meeting certain objectives and goals that were set to help the organization succeed. KPIs might involve sales figures, return on certain organizational investments, product performance, or a wide range of other areas. They are often the measurements associated with the general goals outlined in a Key Result Area.
Is performance management for all types of organizations?
Every organization needs to measure the productivity of all their employees. The methods may vary depending on the organization’s policies.
The productivity management software is compatible with all types of organizations irrespective of type, size, or scale. They can be configured to match your business’ needs.
What is the goal of a performance tracking system?
The solution for managing performance aims at developing clear role definitions, expectations, and goals to increase the employee engagement and develop the leadership and coaching skills. Their purpose is to boost the productivity through improved performance and develop a performance reward program that incentivizes accomplishment.
What should I be looking for in performance administration software?
Here is a list of features you should look for while looking for an ideal performance administration solution:
- Your system should provide easy-to-understand measures for success.
- It has a user-friendly interface and is easy to use.
- It allows you to take 360-degree feedback from a wide range of people.
- It should allow your employees to conduct self-evaluations regularly to track their personal progress.
- It should let you set dynamic goals that you can modify over time, with changes in the employees’ competencies and ambitions
- It should allow real-time feedback to allow the managers to fix the problems as and when they are reported.
- It should assist the managers to have a manager log that records the employees’ performance.