How Digital HR has re-written the rules of Performance Management
The digital era has drastically changed the way the organisations evaluate employee performance. In this digital age, organisations attract more millennial employees. This new workforce demands an interesting workplace experience with interactive systems and user experiences. Therefore, performance management has become a major priority of organisations, through which business leaders attempt to continuously recognise and motivate millennial workers and keep them engaged with the workplace with constant feedback. Setting goals and cascading goals into milestones helps you to get your entire team’s collaboration to achieve the goal. Continuous feedback from peers and superiors will help employees correct their weaknesses as an ongoing exercise. Ultimately, your workforce will continuously grow and sharpen their skills. Competency assessment absolutely ascertains that your workforce will achieve beyond their goals. These new capabilities of Digital HR platform make the employees’ performance evaluation so much easier and ultimately improves employee engagement and efficiency.
In recent global research efforts, above 79 percent of executives has rated Performance Management as a high priority of the workplace, and 38 percent of it has already put it under the ‘very important’ category. The traditional methodology of performance management is highly rejected by the business leaders as it consumes much time and energy, not to mention the difficulty of accessing the information you need at a glance.
Based on global research, from the beginning of the year 2015, business leaders have been considering the decision to completely eliminate manual performance ratings and appraisals. However, employee performance and engagement was at a significant downfall after the elimination, therefore instead of completely eliminating and proceeding without performance ratings, the need to evaluate employee performance was covered using a more tactic approach: Digital HR.
The technology has made great revelations that benefit the business world, and digital HR is one of the best among those. Research reveals that before 2015, the Performance Management process has consumed more than two million hours per year, which is a significant amount of time that could have been used for improvements on more critical matters. With Digital HR coming to the spotlight, a tremendous amount of time that was wasted on performance management are now saved for better purpose! Furthermore, aligning goals, constant feedback and the real-time performance analytics have contributed to the rising productivity of the organisation.
Digital HR has taken the Performance Management to a whole new level. Forget the to-do lists and strike them off, forget pasting sticky notes to get reminded on your tasks and keeping track on them on the percentage you’ve completed. The All-New Digital HR provides a platform with the ability to set goals as well as updating the progress on a daily basis with a single drag of the cursor. When the goals are complete, you can sign-off with the ratings given by the appraiser and the appraisee both.
Not only does the Digital HR lets you keep track on your goals, but it also lets your team or the whole company acknowledge the progress of your goals. If you have good progress, expect positive feedback from your peers. With continuous feedback, the best all-in-one experience is guaranteed.
At the end of a time period, the employees and the employers will be able to accumulate a final performance summary to review and proceed with the actions to be taken based on the summary. For an example, if the performance is not up to expectations, employers can suggest proper training for the employees, if the performance exceeds expectations, they can further discuss possibilities of promoting the employee or giving more responsibilities. All these will be done through a digitized, automated platform, ensuring saving a lot of time and energy, as well as money. Digital HR doesn’t stop by assessing and recognizing your workforce upon brilliant performance. These platforms provide a range of performance analytics to compare performance details between employees. Purpose of performance analytics is to find out best performers. This will help team leaders to keep them motivated with better opportunities. Identifying poor performers through analytics is a way to mentor such employees and convert them to better performers in the future.
Where performance is concerned, the organisations will be at benefit if the performance ratings can be easily managed, as the employees will develop the mindset to work harder and escalate their way through the organisation.
Our HCM Cloud offers a seamless experience on Performance Management.