Performance management tools provide clear-cut goals for employees and help them see how their efforts contribute to company-wide success. This gives employees a sense of purpose and cranks up work efficiency.
However, you need a system that supports goal alignment, learning, and review processes to get the most out of these tools. A well-rounded tool includes OKRs/goal setting, check-ins, and talent analytics.
Goal Setting
When workers are clear on their objectives and the steps necessary to achieve them, they can feel empowered to work efficiently. This is why goal setting is critical to effective performance management software solutions.
The most effective goals are specific, measurable, actionable, realistic, and time-bound. Using performance management software, managers and employees can collaborate on SMART objectives that support and are aligned with overarching team and company goals. These goals can be monitored and adjusted regularly to reflect changing business needs.
During regular check-ins, which can be scheduled in advance and automatically sent emails, employees and their managers can discuss their progress towards achieving their SMART objectives. This lets both parties stay on track and maintain momentum throughout the year.
Achieving a new objective can be overwhelming, especially if it requires much work over an extended period. Fortunately, most performance management systems provide the tools to break significant objectives into smaller, manageable pieces. Mini-goals can make even the most challenging goals seem achievable and less intimidating, increasing motivation and productivity.
Performance management software can also help teams communicate more effectively by easily sharing feedback and highlighting best practices. It can eliminate departmental silos and encourage a more open, honest, and supportive working culture with self-service objective updates, automated reminders, check-in scheduling, and centralized data collection.
Check-Ins
A popular alternative to annual performance reviews, check-ins are short meetings between managers and employees. These formal or informal discussions encompass various subjects such as project status, training needs, and employee well-being. The goal of check-ins is to foster a more transparent and trusting culture in the workplace, which can boost productivity by clarifying the employees’ roles.
Performance management software is one of the best ways to start your check-ins. This system will allow you to record meetings and share notes with your team. Email reminders will also be sent out for everyone to stay on schedule.
Some companies schedule mandatory check-ins every month, while others hold them after major projects or as needed. They must happen regularly so employees and managers can understand how things are going.
It’s a good idea to start every check-in meeting with an icebreaker question like, “How are you doing?” In this manner, the meeting gets off to a good start and establishes the general tone of the discussion.
Check-ins should also be brief and focused. If the issue requires a deeper discussion, it’s best to make this a separate one-on-one meeting.
Performance Reviews
Whether your company needs performance management software that can help boost remote work culture or you want to streamline your existing process, the best tool will offer an intuitive user experience and robust features. A sound system will also provide flexible reporting and a streamlined approach to employee evaluations.
Unlike the traditional annual review, a dreaded affair for managers and employees, performance management systems allow for regular check-ins and a more holistic view of employee progress. This helps keep employees engaged and gives them more explicit goals that align with organization-wide objectives. It also provides a platform for more transparent communication between managers and employees.
The goal-setting feature allows employees to create personal development plans that align with overarching team and organizational goals, which helps them stay focused and on track. Managers can then review and adjust these goals to align with the organization’s vision.
In addition to real-time feedback, this tool allows employees to share their accomplishments with others and receive recognition from peers. This helps build a positive working environment and fosters a sense of belonging among team members, significantly boosting productivity. The software will also let managers set up goal-related milestones and send reminders to ensure everyone stays on track.
Feedback
The most effective performance management tools include various features for goal-setting, check-ins, and annual evaluations. They also have built-in features to facilitate feedback and recognition from other team members. Moreover, these tools help managers align individual employee goals with company business objectives and give employees a clearer picture of how their work contributes to the organization’s overall success.
For example, Lattice’s performance management software helps managers and HR teams improve employee engagement by tracking and providing immediate feedback. Additionally, the system helps to streamline the review process and provides tools for managers and employees to set SMART goals together. Employees can even update their goals as they achieve them, making it easy for everyone to track and stay on top of the company’s priorities.
Finally, the platform makes it easy for managers and employees to record essential meeting notes using the built-in check-in function. This eliminates the need for paper forms, which are prone to misplaced, and enables more precise record-keeping. Additionally, the system will send automated email reminders, allowing quick and easy note-sharing. Another great benefit of performance management systems is that they can help with the modern goal of strengthening workplace diversity and inclusion initiatives. An in-depth understanding of the composition of a company’s workforce can help managers and HR teams ensure that learning and development funding is being allocated to groups that are most impacted by barriers to productivity.
