A recent poll from OfficeVibe found that 63% of employees feel like they don’t get enough praise, and 32% of employees have to wait over three months to receive feedback from their manager.
Lack of employee recognition and slow feedback rates are common problems in the business world. Management is very often busy and not able to find the time to commend employees when they do well or promptly offer feedback to their employees.
Luckily, there is a solution: employee performance management software. That said, you don’t want to implement employee performance management software that is inefficient and ineffective. With that in mind, here are four features that make for the best employee performance management software.
Performance Reports
Installing employee performance management software that offers detailed performance reports is a must. This solves the problem of employees having to wait too long for the feedback they wish to receive and also aids management in monitoring the performance of employees in detail.
These employee monitoring software often come equipped with data analytics packages that present the information visually with tables and graphs and also can provide metrics like predictive performance projection.
360-Degree Feedback
Employees would not only like to receive feedback, but they would also like to give it as well. Using employee management performance software that features 360-degree feedback allows employees to exchange feedback with their peers, supervisors and subordinates.
This is valuable because the feedback would not only cover job skills and competencies, but tangential skills like communication, leadership style and attitude. An added bonus would be the ability to make the feedback anonymous, affording employees to be more forthright in their assessments.
This also dovetails nicely with performance reports because employees are getting feedback from everyone, not just their superiors.
Self-Assessment
If employees are going to be evaluated by their superiors, their peers and their subordinates, then it only makes sense that they should also assess themselves.
Employees can rate and review themselves on projects and tasks they’ve completed and can compare those scores to the scores they’ve received in their performance reports and 360-degree feedback reports. It could recalibrate their views of their own abilities, like working harder if they rated themselves too highly or giving themselves a break if they didn’t give themselves enough credit.
This process would also increase their own self-awareness and increase their engagement because they themselves are participating in the evaluation process.
Goal Management Support
While the various assessment tools are vital to an excellent employee performance management software, one feature that should not be forgotten is goal setting. When looking toward the future, individual employees relish having something to shoot for.
This is especially true if the employees themselves have input into choosing their goals. It also affords HR and management a tangible way to measure employee performance while making clear what the expectations are. Whether it is team goals or individual goals, setting them and posting them can lead to increased employee productivity and achievement.
Conclusion
If you are looking for the best employee performance management software program, it would be wise to invest in one that features performance reports, 360-degree feedback, self-assessments and goal management support.
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