The 5 Key Benefits of Embracing a New Performance Management Solution

11/7/18 10:29 AM

We know performance reviews can be time-consuming and oftentimes ineffective. However, too many employers still rely on periodic, backward-looking performance assessments that do little to drive engagement and productivity. To really nurture and develop top talent, you need a flexible, data-driven performance management approach that enables you to continuously assess, coach, and recognize employees for their achievements.

Improve employee engagement with data-driven performance review

Our performance management solution, a module in our unified human capital management (HCM) suite, helps eliminate complex, paper-based forms; streamline the performance review process; and support development of both salaried and hourly employees. The solution makes it easy to create, assign, and complete assessments based on defined criteria and automate the review cycle to reflect established processes. Alerts and reminders keep form submission and approvals on track for more timely review completion. Even more important, it enables you to define cascading goals and track progress throughout the year — not just at annual review time — to measure how employee performance affects business outcomes and to support effective coaching and development.

Use a performance review that will improve your bottom line

So, what are the top 5 benefits of a streamline performance management solution?

1. ALIGN THE ORGANIZATION by defining cascading goals and tracking performance at the corporate, group, and individual levels.

2. INCREASE ENGAGEMENT AND RETENTION by enabling managers to continuously monitor employee goals and deliver ongoing feedback.

3. IDENTIFY AND DEVELOP TOP TALENT with succession planning tools that help you build and maintain talent pools.

4. SAVE TIME AND STREAMLINE PROCESSES with online review forms and automated workflows that support a paperless HR environment.

5. LINK COMPENSATION TO PERFORMANCE with a Merit Matrix that establishes guidelines for awarding pay based on performance rating and pay grade segment.

To learn more about how our Performance Management solution can facilitate the progression of your bottom line and employee engagement, schedule a live demo today!

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