Say YES to a new Performance Appraisal model with Digital HR!
Setting goals in line with the mission is important for an organisation to accomplish its mission in the long run. In any organisation, goals, KPIs, assessment on competencies are the key to analyse and develop the performance of employees in order to make the organisation prosper. This is why aligning goals of each and every employee with the goals of the organisation should be a key priority.
Employees need to have a true meaning behind their work in order to put their best. That is where setting goals for them becomes important. When there is a goal to be achieved with a given period of time, employees are motivated and obligated to achieve it, which ultimately results in a better progress of their efficiency and competency.
When employees are given goals in line with the organisation mission, you will have an engaged workforce who would collectively work towards achieving the company’s ambition. How do we set such goals to employees and make sure they would achieve goals at the expected pace? A robust performance management system with a good goal setting capability will enable all the department leaders and even employees to set goals, create milestones and make a good contribution to the company mission. Digital HR platforms are offering this capability to modern organisations. Performance appraisal systems powered by digital HR includes the goal setting facility to set goals/milestones for each goal during any time of the year. Organisations may revise their business strategy based on various business environment changes. Changes in strategy certainly requires employees to have new/revised goals and adapt with the changes.
A facility to update/refresh goals is important for organisations operating in a rapidly changing business landscape. Today, we all work in teams. Almost every goal is pursued as a team effort. Hence, creating milestones for goals and delegating them to team members is important to get every team member engaged and collaborated in our routine work. If you’re an organisation that aspires to foster an engagement-driven culture, now is the time to establish a performance management practice which promotes team work!
Also, keeping track of each and every employee of the organisation on their progress of their goals will take a massive amount of time and energy if it was to be done manually. Therefore, organisations with primitive manual practices needs a new approach to handle goal setting and employee’s performance management. Organisations can now easily shift to a digitized and convenient way of managing people with digital HR. A performance management system in a digital HR platform includes, setting goals, analysing the performance and competency of the employees up to providing the business leaders with real time performance analytics and compare employees’ performance records to come up with insights on succession planning.
Our HCM Cloud is the latest Digital HR platform we introduced to the enterprises. We have an inclusive performance management module to create goals for employees and asses their performance even on competencies, values and additional accomplishments. As we discussed earlier, goals can be set by both team leaders and employees. Employees will update their progress on every goal in real time and obtain feedback/ comments from peers and superiors. We believe the new form of goal setting and feedback will help employees to continuously learn from feedback and expedite their achievements.
The value of the performance management is driven by the performance analytics. HCM Cloud gives your organisation leaders and authorized team leaders access to a range of real time and accurate performance analytics. C-level leaders can compare talent profiles of employees to select successors for potential leadership roles, offer promotions etc. Talent matrix will illustrate the top performers, average and poor performers on a matrix. Further, expected organisation performance vs. the actual performance could be viewed on charts and graphs using the analytics. These analytical insights are helpful to improve the performance in the future. Also, insights are helpful to identify top performers and recognise them with promotions and succession plans.
We have been assessing our workforce performance using traditional annual/bi-annual appraisals. Now we need to re-look at our current processes and think whether these practices would help us to scale in the future in this competitive business world.
The workforce is changing… more millennials are joining organisations. They demand ongoing and faster feedback on their work. They will not retain in an environment that gives them once- a- year feedback on their work. Thus, the best way to retain this new generation of workforce is to reinvent the systems we use to manage them. Performance management is definitely one of those systems that needs a revamp!
In this era of workforce transformation, the digital HR platforms will pave the way to align your employees’ performance with the organisation’s expectation.