One of the biggest tasks for someone who works in Human Resources is employee performance management. HR managers must create the best work environments in order to engage their employees and increase the productivity of employee performance. Though this may seem like a difficult task at times, it is still manageable. All you must do is to utilize a performance management system, that makes your employee performance management a little more coherent.
If we look at a firm like JP Morgan Chase, they have a performance management system where their performance analytics helps them to formulate new strategies that address the current and future needs of the organization. Their performance management is done at regular intervals on various levels. Their systems are integrated, and they can measure performance by setting a benchmark for performance using various employee performance management tools.
You can follow some of the strategies mentioned below for better performance management and increase HR productivity:
Timely Accurate Performance Reviews
As an HR manager, you need a platform where you can easily manage your employees’ performance. This platform could be in the form of software that will speed up the process of performance management. Therefore, purchase a performance management software for your organization. A performance management software integrates with your system so easy that you don’t have to feed all information related to your employees manually. You can save a lot of time in this process.
If you don’t have one, then it is high time that you buy one. In case you already have one, and it is not yielding positive results, then look for an upgrade. With a PMS software, you can automate your performance appraisals with your workflow, approvals and employee acceptance. An ideal performance management software has the facility of widgets, graphs, bell curves and a visually appealing dashboard that becomes a platform for posting feedback.
An HR management software must be transparent to the degree that you can access your employee performance, engagement, leadership, team development and various other soft- skills that you look for in an employee. When you have the right HR management software, it will become easier for you to formulate strategies for better performance. You can access the information about your employees from any geographical region.
Effective Talent Management
As HR, your role is crucial because you need to ensure excellence in the organization. Your job involves nurturing leaders who can be positioned in higher roles as their career progresses. You need to groom the high potential employees into becoming the best leaders so that they can help the organization in situations where leaders are necessary. It is important to train the emerging leaders and not just the ones that have established themselves.
Talent management becomes a lot easier when you have software that helps you administer the process. There is a new concept called HiPo rating which involves analyzing the potential of the employee and how critical he is to the organization. With the help of this rating system, you can identify the employees who add value to your organization. With the scores, you can come up with developmental strategies to nurture and engage them to become good leaders for the organization.
Thus, with the help of a good talent management software, you can analyze the ratings at any time and ensure reduced attrition rates of those employees. With this, you can groom them for leadership roles and engage them better.
Continuous Real-time Feedback
As HR, you need to bring a culture of cohesiveness in your organization’s communication practices. It is important to inculcate the practice of continuous feedback and train your managers on how to give constructive coherent feedback to the employees. You also need to train your employees on how the continuous feedback mechanism works and teach them how to respond and receive the feedback in an optimistic manner.
Setting goals for your employees is fine, but you need to communicate your comments with the employee on his performance. Your HR management software needs to have a continuous feedback mechanism because you can give immediate real-time feedback to your employees and inspire them and engage them to increase their productivity in their performance. You can even hire life coaches who would train employees to prepare themselves for the appraisal process.
Every HR management software has a portal where you can post your feedback on the employee’s performance and appreciate your employee. The biggest advantage of performance management software is that you don’t have run behind your employees and call them to make sure if they have met the deadlines. You can keep up deadlines using instant email alerts sent to them. So, in case, if your manager or employee has forgotten to set his goals, you can send him an email alert reminding him to do so.
There used to be a time when performance management was done on a yearly basis. But the problem with such kind of performance management is that you only give them appraisal letters at the end of the year. This raises an important question because we do not know how timely and accurate, they are. Therefore, when you give ongoing feedback, it will promote a healthy collaboration between employees and increase their performance.
Determining Core Values
Core values are very essential for an organization. They depict the work culture of your organization. Core values ensure the adherence of your employees to the organization’s values. As HR, you can identify the adherence levels of your employees through the process of peer evaluation. For instance, if your organization’s core values are integrity, honesty, social responsibility, etc., then you can ask your employees to rate their peers, managers, and HR against each value.
When you have an effective talent management software; feedback must be produced at all levels. Feedback must be received from multiple sources such as the employee himself (self-evaluation), his colleagues (peer evaluation), the HR manager, and external stakeholders. When we initiate feedback at all levels, it gives us an overall perspective about the employee’s performance.
Core value rating has become an easier process with the advent of the performance management software because these days you have mobile applications that will help the rating process go smoothly. This rating can either be given openly or anonymously in case employees prefer to keep things confidential. This way, you can identify how employees demonstrate the core values in your organization.
Employee Engagement and Recognition
Employee engagement has always been one of the most important tasks for the HR manager. It is the backbone of performance management. In that case, it is very important that we acknowledge our employees in such a way that they choose to remain with the organization. You must always remember that your employees are not robots, and they like to be given some autonomy and recognition.
Any HR management software must be such that it values and appreciates the performance of the employees. Appreciation is a basic need for an employee. If you are aiming for higher productivity and performance, then you might as well praise them for their good work. When an employee’s performance is valued and appreciated, gradually he will be motivated to give better performance and yield higher business results.
You can do this by giving him instant rewards in your performance management system. You can send notes or comments of appreciation if your employee has performed well or has managed to complete his tasks before the deadlines.
Conclusion
In conclusion, it is important that you adopt a system where performance management tools help you to come up with employee development strategies in a timely manner. An ideal performance management software is the one that saves your time and resources. It is continuous, easy to configure, customizable, and the least complicated.
For a start, check out Synergita the continuous feedback-based employee performance and engagement software.