The performance review has been around forever. Employers gain valuable insights on employee strengths and weaknesses over time when evaluated against the greater goals and strategies outlined by the company. As measuring employee performance is not a new idea, it becomes a lot simpler with the use of automated HR solutions. Let’s discuss how this process is changing with the utilization of HR technology.
How Measuring Employee Performance is Changing with HR Tech
With automated HR solutions being introduced into the marketplace each year, finding the tech to enhance measuring employee performance is becoming easier to do. With this process available in modules, applications, systems and platforms, employers are able to better analyze data, better communicate with their employees and make actionable decisions based on evidence to support the strategies and goals established by leadership.
Measuring employee performance with HR tech
With HR tech, these areas of the employee performance review are enhanced:
- Reviews—face-to-face, 360 and time-based
- Tracking—continuous and completion-orientated
- Real-time feedback
- Quality of hire data
- Predictive performance
With automated technology applied to performance management, employers are able to integrate it with other modules or systems to share data and enhance other talent management processes. The tool will be able to connect to an Applicant Tracking System (ATS), onboarding, learning management and succession planning modules.
With performance connected to one or many other HR processes, employers will be able to sync their datasets to keep track of employees, provide learning and training, watch their development and decide if they’re ready for promotions. Data shared across the talent management spectrum allows employers to have an easier time attaining and retaining top talent, reporting for compliance and improving their overall operations.
Benefits of Managing and Measuring Employee Performance with HR Tech
The following are only a few of the benefits that are gained by implementing an automated HR solution into your performance management process.
Increase harmony between employees and managers
As employees and managers negotiate Key Performance Indicators (KPIs), an automated performance management module helps both parties to stay on track and meet established goals. With these created goals, combined with a feedback system implemented, the relationship between the two entities can only grow stronger.
An automated HR solution measuring and managing employee performance for reviews that fall under annual, quarterly and/or monthly becomes much easier for managers to coach and train their employees as they have the data to analyze what the employee has been doing well at, as well as what they need to work on.
Data cures all
There’s nothing more frustrating than not knowing if a process is helping or hurting your company. This is especially true when it comes to measuring employees performance. If there isn’t an automated module, system or application being used to measure performance, then the employer is relying on spreadsheets and manual processes to keep track.
This isn’t efficient because:
- Depending on the number of employees a company has, manually dragging and dropping data one-by-one is highly inefficient and user error can come into play easily
- An automated tool will provide the best suggestions for what data needs to be tracked, compared to guessing what’s needed
- With inefficient processes, employees are left in the dark when it’s clear they are ready to take on more responsibility and vice versa when an employee is dragging down processes, but it isn’t realized yet
Automated tools keep data in one central location to allow administrators to easily gather the right reporting to analyze what is and isn’t working with their performance management process. As they see trends developing, they will be able to strategize and make changes while also getting managers involved to help support any new strategies and objective established.
Attract millennial and upcoming talent of the future
The future is automation. This isn’t anything new.
What happens when employers fail to modernize their workforce with tools and technology to improve operations, culture and transparency? Simple. Potential employees will not want to work for them. In the performance review process for example, if employers do not have a proper way to reward employees fulfilling and/or surpassing their duties based on qualified goals, they will eventually move on to companies who will provide them with the proper compensation, promotions, benefits and more for reaching various milestones through the year.
When a company appears outdated and out of touch with the demands of an evolving workforce that needs technology to be successful, it puts them into a further disadvantage when it comes to attaining and retaining top talent. When an employer experience problems filling in positions of need, every aspect of their business is adversely effected as well.
Measuring Employee Performance with the InfinityHR Talent Mangement System
The InfinityHR Performance Management module is a cloud-based tool that allows team members to direct their own career development toward mutually agreed upon goals and competencies. This gives managers a better understanding of the strengths and weaknesses of their teams for improved employee performance management. It offers the following benefits:
- Provides real-time feedback for employees to receive constant feedback from managers
- Sends automated communications to keep stakeholders up-to-date on upcoming events and more
- Automatically saves work completed so progress is never lost
- Promotes greater employee/manager transparency
- Offer numerous review processes
The individual module can be integrated within current technology, and/or other HRIS, HCM platforms, ERP systems and any other third-party application to promote automated efficiencies internally and externally.
InfinityHR also provides automated cloud-based modules in the Talent Management umbrella including:
- Applicant Tracking System
- Learning Management
- Succession Planning
The full InfinityHR HCM platform
Aside from Talent Management modules, InfinityHR also provides automated HR modules in HR Management and payroll. The platform includes the following:
- Core HR
- Employee self-service (Employee Portal)
- Workflow Management
- EZ Sign (electronic signature)
- Employee Record Management
- Benefits Management
- ACA Compliance
- Payroll Processing
- Time and Attendance
Schedule a demo to see how the InfinityHR cloud-based HCM platform can improve your Talent Management, HR Management and Payroll Processing processed today.