Three Things to Look for in an HR Performance Review Software

# Last Updated On: July 19, 2021 #

Employees like to know where they stand within their respective companies. Knowing what they are doing well and what they need to improve upon keeps them informed, engaged and productive.

Depending on the size of your company, you might be unable to churn out employee performance review reports every month or even every quarter. It is certainly impossible to manually update performance reviews for every single employee on a daily basis.

Things to Look for in an HR Performance Review Software

With HR performance review software, that process and many others can be easily automated. There are a number of different performance review software programs on the market, which begs the question: When you’re in the market for said software, what type of features should you be prioritizing? Here are three things to look for in an HR performance review software:

1. Feedback and Coaching

One of the chief benefits of an automated HR performance review software program is the continuous connective communication between supervisors and employees.

In addition to boosting employee engagement, performance review software allows for convenient documentation of any feedback an employee receives and (if applicable for your company) a chance for that employee to respond to the coaching. Such a tool also promotes honesty and transparency between management and the employees.

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2. Goal Setting and Frequent Performance Evaluations

An automated HR performance management software program allows for easier and more frequent performance reviews. It is also highly customizable; if your company would like to implement monthly or quarterly performance reviews, that is certainly an option.

At the same time, companies that are more hands-on can implement weekly performance appraisals. Should you choose to use weekly performance reviews, performance management software often allows for the sharing of short-, medium- and long-term goals. This will help you give employees tangible goals and establish a meaningful way to evaluate progress and performance.

3. Compensation Management

In addition to providing real-time feedback, setting goals and offering continual performance evaluations, human resources performance management software allows you to implement a compensation management system.

This system will show employees what targets they need to hit to increase their salary, stock options and benefits or even provide them with estimates of what their yearly bonus is going to be so they can plan accordingly.

This feature often comes with a highly customizable performance metric system so management and the employees themselves can see which workers are best contributing to the growth of the company.

If your office appreciates healthy competition, you could even post the metrics of all the teams and individuals throughout the company, giving employees extra motivation to work harder and better themselves to keep up with their coworkers.

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Boost Employee Engagement With HR Performance Review Software

When it comes to performance reviews, give your human resources staff a break and invest in an HR performance review software program. If you prioritize software that offers feedback, coaching, goal setting, frequent performance evaluations, and compensation management, you and your employees will be satisfied with the results.

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